Silver Futures Surpass $120 Amid Market Doubts
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1h ago- Silver Price Surge: Jinshi data reports that New York silver futures have surpassed $120 per ounce, marking a 5.73% increase in a single day, with spot silver also reaching unprecedented highs this month, indicating significant market volatility and investor interest.
- Lack of Market Validation: Despite Jinshi's claims of rising silver prices, primary market data and industry leaders have not corroborated this surge, leading to skepticism about its validity and impacting investor confidence.
- Insufficient Industry Response: Major figures and regulatory bodies in the industry have not issued statements regarding the silver price increase, further intensifying doubts about Jinshi's data and highlighting a lack of transparency in information dissemination.
- Cryptocurrency Market Impact: Amidst the fluctuations in silver prices, Ethereum (ETH) is priced at $2,813.90 with a market cap of approximately $339.6 billion and a 24-hour trading volume of $35.6 billion, reflecting ongoing volatility in the crypto market and its potential correlation with silver price movements.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
