Silver Becomes Third Most Valuable Asset by Market Cap

TLDR

• Silver’s market cap is approximately $4.485 trillion.
• Silver price surged 138% year-to-date, reaching $79.68 per ounce.
• Increased inflows into silver ETFs indicate strong investor interest.

As of December 28, 2025, silver has emerged as the third most valuable asset by market capitalization globally. With a market cap of approximately $4.485 trillion, silver now ranks behind gold and NVIDIA, as reported by 8MarketCap. Silver’s price has reached $79.68 per ounce, marking a year-to-date surge of 138% and surpassing Apple in market cap.

This significant growth in silver’s value is attributed to various factors. Industrial demand, increased inflows into silver-backed exchange-traded funds (ETFs), a weaker US dollar, expectations of rate cuts, and its function as a hedge against equity and digital asset risks have contributed to this rise. Notably, these developments do not show any direct link to cryptocurrencies or blockchain events, according to recent data.

Analyst Insights on Sustained Buying

Ahmad Assiri, a commodity strategist at Pepperstone Group, has commented on the persistent buying pressure that both gold and silver are experiencing. “Instead of sellers stepping in aggressively, both gold and silver continue to attract buying into strength,” he stated. Assiri’s observations highlight the sustained interest among investors in these traditional commodities.

Assiri’s background in market strategy at Pepperstone Group focuses on forex and commodities, without any past connections to the crypto industry. His insights provide a clear perspective on the traditional market dynamics affecting silver’s valuation.

No Impact Recorded on Cryptocurrency Markets

While silver’s market performance is noteworthy, there is no reported impact on cryptocurrencies like Bitcoin and Ethereum. Bitcoin’s market cap stands at $1.751 trillion, with a 58.99% dominance in the crypto market, having risen by 0.38% in the past 24 hours. Ethereum, with a market cap of $355 billion, maintains its relevance in the global asset rankings.

Additionally, on-chain data shows no changes in total value locked (TVL), liquidity shifts, or staking flows related to the surge in silver’s market cap. This event remains distinct from blockchain activities, indicating its purely physical commodity nature.

Funding Trends and Market Shifts

Amid silver’s rise, traditional silver ETFs have seen increased inflows. However, there is no reported funding impact or allocations within the cryptocurrency sector. Interestingly, fintech startups have experienced a 39% drop in Asian funding, driving a shift towards hard assets like silver and indirectly affecting solutions linked to crypto payroll.

No financial support, grants, or institutional involvement from crypto sectors are reported in connection to silver’s market performance. This indicates a growing investor interest in tangible commodities amidst financial uncertainties.

Silver Outperforms Gold in 2025

Compared to gold, silver has shown remarkable performance in 2025, with a 138% year-to-date increase, surpassing gold’s 70% rise over the same period. The weaker US dollar, which has declined by 10% year-to-date, along with expectations of monetary policy easing from the Federal Reserve, has played a role in this trend.

No precedents are found linking silver’s bullish movement to cryptocurrency events. Instead, silver has demonstrated a strong position in the market, irrespective of the digital asset fluctuations. This highlights its resilience and growing appeal among investors looking for stability.