Silver prices hit a record high, tokenized silver trading volume surged, and the RWA track heats up again

As silver prices repeatedly hit record highs this month, market attention has rapidly shifted from traditional finance to the blockchain sector. Recent data shows a surge in on-chain trading activity of tokenized silver, with its popularity rising in tandem with futures market volumes and silver ETF trading, highlighting the ongoing expansion trend of Real World Asset (RWA) tokenization.

According to RWA.xyz statistics, tokenized iShares Silver Trust (SLV) has seen monthly transfer volumes increase by over 1200% in the past 30 days, with the number of holders rising by approximately 300%, and the associated net asset value also increasing by nearly 40%. This indicates that as silver prices rise, more investors are participating in silver-related asset allocation through on-chain methods.

The core advantages of tokenized silver lie in improved accessibility and liquidity. By mapping commodities like silver to digital tokens on the blockchain, investors can conduct fractional transactions in smaller units and perform 24/7 minting, redemption, and transfer. For example, non-U.S. investors can also participate in exposures similar to SLV through tokenized silver trusts, breaking through the geographical and trading hour limitations of traditional financial markets.

In terms of price structure, the spot and futures markets for silver have shown clear divergence. Analysts point out that the Asian market’s silver premium has reached double digits, significantly higher than the COMEX quotes; the London market’s forward curve shows a spot premium, indicating that at near $80 per ounce, spot prices are higher than futures prices, reflecting short-term supply tightness.

Factors driving silver prices higher include limited supply, structural demand growth, and macroeconomic changes. Since January 1, China has implemented an export license system for refined silver, intensifying market concerns over supply. Meanwhile, increased margin requirements for futures and year-end position pressures have raised the participation barriers in traditional trading channels. On the demand side, consumption of silver in solar and photovoltaic industries continues to grow, and despite prices having increased several times since 2024, related demand remains resilient.

Overall, silver prices are strengthening in both on-chain and traditional markets, further confirming that asset tokenization is not a short-term trend but is becoming an important long-term connection between commodities and the crypto market.