Silver Is Soaring, Can Tokenized Silver Amplify Leverage Further?

marsbitPublicado a 2026-01-27Actualizado a 2026-01-27

Resumen

Silver prices have surged dramatically, breaking historical records by reaching over $117 per ounce and accumulating a 517% increase since 2017—outpacing both Bitcoin and gold. With a market cap of approximately $6.18 trillion, silver is the second most valuable asset globally. This rally has spurred interest in tokenized silver as a way to gain exposure, including through leveraged contracts. Two major tokenized silver assets stand out: - **Kinesis Silver (KAG)**, with a market cap of $406 million, is backed by physical silver (1 token = 1 oz), offers global payments and redemption, but carries issuer dependency and regulatory risks. - **iShares Silver Trust (SLV)**, with a $39.5 million market cap, tracks a traditional ETF managed by BlackRock, provides good liquidity and institutional backing, but does not allow physical redemption and incurs management fees. Additionally, leveraged trading is available on platforms like Hyperliquid, Binance (offering up to 20x leverage on XAG/USDT), and Bitget, with significant trading volumes. The surge is driven by factors including Trump’s trade policies, expectations of U.S. interest rate cuts, silver’s new classification as a critical mineral in the U.S., supply constraints, and its role as a hedge amid geopolitical tensions. Analysts suggest the rally may continue due to these structural and macroeconomic tailwinds.

Original|Odaily Planet Daily(@OdailyChina)

Author|Wenser(@wenser 2010)

Silver, this precious metal asset once called "poor man's gold," is sweeping the global market with a storm-like momentum. The reason is none other than its terrifying surge.

Recently, the price of silver once broke through $117 per ounce intraday, hitting a record high. As a result, since the high point of the 2017 crypto cycle, silver has officially surpassed Bitcoin's gain (about 500%) and gold's gain (slightly less than 300%) with a cumulative increase of approximately 517%. According to data from the 8marketcap website, the current price of silver is around $110, with a market capitalization reaching $6.18 trillion, ranking second among global assets, second only to gold. Such an astonishing trend naturally triggers market frenzy. Besides buying silver funds or physical silver through traditional brokers or offline stores, tokenized silver might also be an option, especially the leveraged contracts on exchanges and on-chain Perp DEXs.

Current State of Tokenized Silver: Only 2 Targets Have Relatively Good Liquidity

According to data from the Coingecko website, the overall market capitalization of the tokenized silver sector is temporarily reported at approximately $446 million, with a 24-hour increase of about 5.6%; specifically, the tokenized silver with relatively good liquidity are the following 2 types:

Kinesis Silver (KAG): Market cap temporarily reported at $406 million

Like the gold token KAU, the KAG silver token is launched by Kinesis, a British digital asset utility platform registered in the Cayman Islands. Major trading platforms include Kinesis Money, BitMart, UAE exchange Emirex, and others.

It is understood that KAG is backed by fully insured and regularly audited vaults (globally distributed storage), with each token pegged to 1 ounce of investment-grade silver; it supports global real-time payments; supports physical silver redemption; and has no storage fees.

Its potential risks are similar to those of the Tether company, which issues the XAUT gold token. This token highly depends on the asset credibility of the issuer and faces certain regulatory uncertainties. Furthermore, limited by its small market cap, the market depth is relatively average, and market fluctuations may lead to premiums or discounts, relying more on the trading platform to manage order matching.

Nevertheless, information on the Coingecko website shows that KAG's 24-hour trading volume is about $5.5 million, already ranking second in trading volume in the tokenized silver market.

iShares Silver Trust(SLV): Market cap temporarily reported at $39.5 million

A silver token pegged to the iShares Silver Trust, launched by Ondo Finance, holds the corresponding physical silver through the BlackRock iShares Silver Trust (SLV) ETF.

Its advantages lie in tracking a regulated traditional SLV ETF, having good liquidity, and supporting instant minting or redemption (for users outside the US); combining traditional finance with blockchain convenience; institutional-level endorsement; no need to handle physical silver directly.

Its potential risks include: primarily relying on the asset credibility of issuers like BlackRock and Ondo; does not support physical silver ownership or direct redemption; includes certain ETF fund management fee costs; US users are restricted from trading, and it faces potential securities regulatory restrictions.

Main trading platforms include centralized exchanges such as Gate, Bitmart, Bitget, AscendEX, etc.

It is worth mentioning that SLV also supports contract trading, with leverage up to 10x.

Coingecko website information shows that SLVON's 24-hour trading volume is about $21.2 million, ranking first in trading volume in the tokenized silver market.

Besides the two major silver tokens KAG and SLVON, the silver token Silver rStock (SLVR) launched by Solana生态 stock tokenization platform Remora Market, and the Gram Silver (GRAMS) token pegged to 1 gram of silver launched by Token Teknoloji A.Ş also belong to spot tokens, but their market capitalization and liquidity are extremely low. Compared to KAG and SLVON, the price difference from physical silver is larger, and participation in trading is not recommended.

Silver Leverage Trading Platforms: Hyperliquid, Binance, Bitget, and other exchanges

Besides spot silver tokens, currently many US stock tokenization platforms, on-chain Perp DEXs, CEXs, and DEXs have opened leveraged contract trading related to silver, supporting leverage up to 20x. The following are specific trading platforms for readers' reference:

Channel One——Hyperliquid: https://app.hyperliquid.xyz/trade/xyz:SILVER, the Silver/USDC contract trading pair's 24-hour trading volume exceeded $1 billion;

Channel Two——Binance:https://www.binance.com/zh-CN/futures/XAGUSDT, supports leveraged trading for the XAG/USDT trading pair, with leverage up to 20x. Currently, the 24-hour trading volume is $1.32 billion. According to the announcement, this trading pair was officially opened on January 7th; the latest news shows that Binance will change the price index composition of this contract on January 29, 2026.

Channel Three——Bitget:https://www.bitget.site/zh-CN/futures/usdt/XAGUSDT, supports leveraged trading for the XAG/USDT trading pair, with leverage up to 20x. Currently, the 24-hour trading volume is $174 million.

Conclusion: Trump's Hawkish Policies and Dovish Rate Preferences Will Be the Best Catalyst for Precious Metals

Looking back, Trump's rise to power leading to tense international political and economic situations, tariff trade wars, and his preference for Federal Reserve rate cuts are the best catalysts for the rise in precious metal prices. Specifically for silver, besides past reasons like supply tightness and its role as an important raw material, risk-off assets and the US attitude are crucial.

J. Safra Sarasin strategist Claudio Wewel pointed out that the continuous surge in silver prices stems from the market's reduced expectations for US rate cuts and silver's newly acquired status as a key mineral. The US Department of the Interior listed silver as a critical mineral in November, increasing the possibility of the US imposing tariffs on this metal. He noted that this exacerbates long-term supply tightness and prompts US importers to accelerate silver purchases. Meanwhile, retail investors, finding it difficult to buy gold at historically high prices, are turning to silver as a safe-haven asset.

In other words, silver's main rise comes from both "scarcity" and "safe-haven nature." Combined with the recently tense Middle East situation again, the price peak for silver may be far from over.

Criptos en tendencia

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

BrevisBREV

ZRX（0X）ZRX

PancakeSwapCAKE

Preguntas relacionadas

QWhat are the two tokenized silver assets with relatively good liquidity mentioned in the article?

AKinesis Silver (KAG) and iShares Silver Trust (SLV).

QWhich platform offers a silver contract with up to 20x leverage and has a 24-hour trading volume of 13.2 billion US dollars?

ABinance, for the XAG/USDT trading pair.

QWhat are the main reasons cited for the surge in silver prices according to the article?

AMarket expectations of reduced US interest rate cuts, its new status as a US critical mineral (increasing potential tariffs), long-term supply tightness, and its role as a risk-off asset for retail investors.

QWhat is the key difference between the KAG and SLV tokenized silver products regarding physical redemption?

AKAG supports physical silver redemption, while SLV does not offer direct physical silver ownership or redemption.

QWhich on-chain Perp DEX is mentioned for trading a silver/USDC perpetual contract with a significant 24-hour volume?

AHyperliquid, for its SILVER/USDC trading pair.

Lecturas Relacionadas

The Verdict in Choi Tae-won's Divorce Case: Revealing the Inheritance Undercurrent Behind SK Hynix's Trillion-Won Empire

SK Group Chairman Chey Tae-won's high-profile divorce case, involving a record 1.38 trillion won settlement, has drawn attention to the succession plans for Korea's second-largest conglomerate, especially its crown jewel, SK hynix. Unlike traditional chaebol scripts centered on the eldest son, Chey's three children from his marriage to former President Roh Tae-woo's daughter, Roh Soh-yeong, are carving distinct, non-traditional paths. Eldest daughter Chey Yun-jung (b. 1989) is seen as the most evident successor. With a scientific and consulting background, she holds executive roles at SK bioscience and SK Inc.'s growth support department, focusing on future strategy and biopharma. Her marriage is to an AI infrastructure entrepreneur, not a traditional business alliance. Second daughter Chey Min-jung (b. 1991) took a unique route, voluntarily serving as a South Korean naval officer, including an anti-piracy deployment. She later worked on policy and strategy for SK hynix in Washington D.C. before co-founding an AI-driven healthcare startup. She married a former U.S. Marine Corps officer, connecting her to U.S. defense and policy circles—networks crucial for a global semiconductor giant. The only son, Chey In-geun (b. 1995), who studied physics like his father, worked briefly at SK E&S before joining McKinsey. Despite fitting the traditional "heir" profile as the eldest son, he remains silent and holds no public position or shares in SK, suggesting the old succession playbook is obsolete. As SK hynix's valuation soars, becoming a geopolitical asset in the AI era, the heirs' legitimacy is no longer automatic. They must prove themselves in fields like AI biotech, global policy, and strategic consulting. Their marriages also reflect new elite networks in tech and defense, not old political alliances. Their inheritance is the complex challenge of navigating a globalized, tech-driven world, not just a corporate throne.

marsbitAyer 09:06

The Verdict in Choi Tae-won's Divorce Case: Revealing the Inheritance Undercurrent Behind SK Hynix's Trillion-Won Empire

marsbitAyer 09:06

Banks oppose stablecoin yield deal – Can CLARITY Act find 60 votes?

The Bank Policy Institute (BPI) has opposed the latest draft of the CLARITY Act, criticizing its provisions on stablecoin yield and illicit finance. The banking industry sought a total ban on stablecoin yield, but the bill's compromise only prohibits passive yield on idle balances. This opposition has influenced lawmakers, reducing tentative Republican Senate support to potentially 49 votes. With the 60-vote threshold needed, securing sufficient Democratic support appears difficult as some pro-crypto Democrats also oppose the bill due to ethics and illicit finance concerns. Senate Majority Leader John Thune expressed doubt the bill can pass before the August recess. Market odds for the bill's passage in 2026 have fallen, leaving its future uncertain.

ambcryptoAyer 09:02

Banks oppose stablecoin yield deal – Can CLARITY Act find 60 votes?

ambcryptoAyer 09:02

2 Months, Valuation Soars from $8.8B to $68B! The Largest AI Model Hub OpenRouter May Be Acquired

Stripe is reportedly in talks to acquire AI model marketplace OpenRouter for a price nearing $10 billion, a dramatic increase from its $1.3 billion valuation just two months prior. The deal, which could be announced within a month, would see the payment giant absorb a key "router" or aggregation layer in the AI infrastructure stack. OpenRouter provides developers with a single API to access over 400 large language models (LLMs), automatically routing queries to the most suitable model based on cost, capability, and speed. This allows AI applications to optimize expenses while maintaining user experience. Founded in 2023 by ex-OpenSea co-founder Alex Atallah and Louis Vichy, OpenRouter has grown rapidly, reaching $50 million in annualized revenue by April and serving over one million developers. For Stripe, the acquisition of OpenRouter follows its late-2025 purchase of usage-based billing platform Metronome. The combined strategy aims to create an integrated suite for the AI economy: OpenRouter would handle model selection and routing, Metronome would manage granular usage-based billing, and Stripe's core platform would process payments. This positions Stripe to control a critical part of the AI application value chain, influencing which models get used while simplifying cost management for enterprise customers.

链捕手Ayer 08:59

2 Months, Valuation Soars from $8.8B to $68B! The Largest AI Model Hub OpenRouter May Be Acquired

链捕手Ayer 08:59

From OpenSea to OpenRouter: Is Alex Atallah Repeating His 'Exit at the Peak' Playbook?

From OpenSea to OpenRouter: Is Alex Atallah Repeating His "Exit at the Peak" Playbook? According to the Wall Street Journal, payments giant Stripe is in talks to acquire the AI model aggregation platform OpenRouter in a potential deal valuing the company near $100 billion. This would mark founder Alex Atallah's second creation of a company reaching a $100 billion valuation, following his co-founding of NFT marketplace OpenSea. OpenRouter, founded just over three years ago, has grown rapidly by acting as a unified gateway for developers to access over 400 AI models. It currently has about 10 million users and processes over 200 trillion tokens monthly. While the platform's annualized revenue is around $50 million, its valuation has skyrocketed from $1.3 billion in March 2026. The potential acquisition by Stripe, a company OpenRouter's founder once likened it to, represents a major expansion into AI infrastructure for the payments leader. This move echoes Atallah's previous timing with OpenSea, where he departed before the NFT market's significant downturn. For OpenRouter, selling now may be strategic. Despite its scale, its business model—charging a 5-5.5% fee on AI inference calls—faces pressure from competition, open-source models, and potential price wars among model providers, limiting its profitability narrative for an IPO. A key asset for potential acquirers like Stripe is OpenRouter's vast repository of real-world AI usage data, which offers unique insights into model performance and developer preferences that are difficult to replicate. Whether this potential deal signifies a new valuation benchmark for AI infrastructure or another market peak signal remains to be seen.

链捕手Ayer 08:42

Pons V2 brings RWA trading pairs as Robinhood Chain broadens its ambitions

Pons, a key launchpad on Robinhood Chain, has launched its V2 upgrade. The update aims to boost liquidity, remove trading restrictions for most users via an ETH-denominated bonding curve, and introduces support for custom tokenized real-world asset (RWA) trading pairs. This aligns with Robinhood Chain's broader RWA focus. The upgrade also allows creators to collect fees in ETH by default. The network itself is growing rapidly, surpassing $300 million in Total Value Locked. Its cumulative DEX volume has exceeded $9 billion, with about 80% coming from speculative memecoin trading. However, data shows 63% of traders are at a loss, with profits concentrated in a small number of wallets. The introduction of RWAs could help drive more organic adoption for the chain, which is positioning itself as a major player for speculative trading, challenging networks like Base and Solana.

ambcryptoAyer 08:26

Trading

Spot

Artículos destacados

Cómo comprar T

¡Bienvenido a HTX.com! Hemos hecho que comprar Threshold Network Token (T) sea simple y conveniente. Sigue nuestra guía paso a paso para iniciar tu viaje de criptos.Paso 1: crea tu cuenta HTXUtiliza tu correo electrónico o número de teléfono para registrarte y obtener una cuenta gratuita en HTX. Experimenta un proceso de registro sin complicaciones y desbloquea todas las funciones.Obtener mi cuentaPaso 2: ve a Comprar cripto y elige tu método de pagoTarjeta de crédito/débito: usa tu Visa o Mastercard para comprar Threshold Network Token (T) al instante.Saldo: utiliza fondos del saldo de tu cuenta HTX para tradear sin problemas.Terceros: hemos agregado métodos de pago populares como Google Pay y Apple Pay para mejorar la comodidad.P2P: tradear directamente con otros usuarios en HTX.Over-the-Counter (OTC): ofrecemos servicios personalizados y tipos de cambio competitivos para los traders.Paso 3: guarda tu Threshold Network Token (T)Después de comprar tu Threshold Network Token (T), guárdalo en tu cuenta HTX. Alternativamente, puedes enviarlo a otro lugar mediante transferencia blockchain o utilizarlo para tradear otras criptomonedas.Paso 4: tradear Threshold Network Token (T)Tradear fácilmente con Threshold Network Token (T) en HTX's mercado spot. Simplemente accede a tu cuenta, selecciona tu par de trading, ejecuta tus trades y monitorea en tiempo real. Ofrecemos una experiencia fácil de usar tanto para principiantes como para traders experimentados.

654 Vistas totalesPublicado en 2024.12.10Actualizado en 2026.06.02

Discusiones

Bienvenido a la comunidad de HTX. Aquí puedes mantenerte informado sobre los últimos desarrollos de la plataforma y acceder a análisis profesionales del mercado. A continuación se presentan las opiniones de los usuarios sobre el precio de T (T).