
Silver’s sharp price surge to $117 per ounce and record ETF trading volume underline its dominance over Bitcoin’s gains since 2017, despite recent retreat.
Silver prices reached $117 per ounce on Monday before pulling back to $105, marking a 517% gain since 2017—slightly outpacing Bitcoin’s 500% rise over the same period. iShares Silver Trust trading volume soared above $32 billion, more than 15 times its daily average, briefly making it the most active security globally. This follows January’s rally where silver’s market capitalization hit $6.149 trillion, 3.5 times Bitcoin’s $1.754 trillion value. Analysts warn that a reversal in silver’s momentum could lead to capital shifting back toward cryptocurrencies like Bitcoin and Ethereum.