Tokenized Silver SLVon Sees 1,200% Volume Growth in 30 Days

Tokenized silver products are seeing a sharp rise in on-chain activity as interest in precious metals accelerates. Data from RWA.xyz shows that SLVon, the tokenized version of the iShares Silver Trust issued by Ondo Finance. It recorded a surge in trading and user adoption over the past month. Over the last 30 days, SLVon’s monthly transfer volume climbed to $117 million. This marked growth of more than 1,400%. During the same period, its total asset value rose nearly 156% to just under $18 million. This reflects heightened demand as silver prices rallied in spot markets.

Holder Growth Signals Rising On-Chain Demand

The number of SLVon holders expanded rapidly alongside the jump in trading volume. According to the data, the token’s holder count increased by more than 340% in 30 days. It surpassed 1,000 wallets by late December. This growth suggests a broader group of participants is seeking tokenized exposure to silver rather than relying on traditional exchange-traded products.

SLVon offers economic exposure similar to holding shares of the iShares Silver Trust. While allowing minting and redemption through blockchain infrastructure. Activity also spread across networks. Most SLVon supply remains on Ethereum. But usage on BNB Chain increased as well. It reflects wider accessibility across ecosystems.

Silver Rally Drives Tokenized Asset Momentum

The surge in SLVon activity coincided with a strong rally in physical silver markets. Silver prices climbed sharply in December amid supply constraints and rising industrial demand tied to solar panels, electric vehicles and data centers.

Chart – Total Real-World Asset (RWA) Value as of late December 2025 by RWA.xyz

As a result, SLVon’s net asset value rose nearly 39% over the same 30-day period. Analysts say this price action likely encouraged short-term trading. As well as longer-term positioning by investors seeking exposure through tokenized real-world assets. Unlike speculative crypto tokens, SLVon tracks an established financial instrument. This may explain the rapid adoption during periods of commodity volatility.

Tokenized RWAs Continue Structural Expansion

SLVon’s growth also reflects a broader expansion in tokenized real-world assets. RWA.xyz data shows the total distributed RWA value reached roughly $19.36B billion by late December. Private credit remains the largest segment, while tokenized U.S. Treasuries continue to grow quickly. Institutional products have played a key role in this shift. As regulated structures attract capital seeking yield and transparency.

Market observers note that tokenized commodities like silver are now joining treasuries and credit as active on-chain instruments. While volumes remain small compared with traditional markets, the pace of growth highlights how blockchain infrastructure is increasingly used to access real-world financial exposure. As metal prices stay volatile and on-chain settlement remains open around the clock. Tokenized assets such as SLVon are likely to stay in focus going into early 2026.