According to The Kobeissi Letter, open interest on silver futures surged by $2.8 billion over the past two days, marking the largest increase in at least a year and surpassing the previous high of $2 billion from October 2024. Silver prices have also risen nearly 4% today. This significant uptick in futures activity and price momentum is drawing attention from traders, as heightened volatility in precious metals often leads to increased trading opportunities in related crypto assets such as tokenized silver and commodities-backed stablecoins (source: The Kobeissi Letter, June 5, 2025).

According to Mihir (@RhythmicAnalyst), silver has reached a new high for its current cycle, which began in January 2018, and is now approaching its January 2011 peak. The completion of the cup and handle pattern, as highlighted in Mihir's analysis, suggests a bullish breakout could be imminent. Traders are closely monitoring this technical formation, as a break above resistance may drive further upward momentum, impacting not only the silver market but also correlated crypto assets like tokenized commodity ETFs and precious metals-backed cryptocurrencies (Source: Mihir on Twitter, June 5, 2025).