The Ondo (ONDO) token is starting to show how real-world assets can work on-chain in practice. Over the past 30 days, its tokenized silver product, SLVon, jumped 155% in market cap to around $18 million.
The product tracks the iShares Silver Trust and lets holders earn dividends and reinvest them directly, all on-chain. That setup is simple, familiar, and easy to understand, which helps explain the steady inflow of interest.
This growth is not happening in isolation. It comes at a time when investors are actively looking for exposure beyond crypto-native assets, especially those tied to commodities and traditional markets.
However, Silver itself has been volatile. Prices pushed above $80 before pulling back toward the $73 area. That move was driven by tight supply conditions and rising interest in hard assets.
🚨CARTEL GOES NUCLEAR ON SILVER!💥
— SilverTrade (@silvertrade) December 31, 2025
🚨CME Announces MASSIVE MARGIN HIKE -2nd This Week!!
💥SILVER MARGINS HIKED TO 32.5% As the Bullion Banks Declare ALL OUT WAR on Silver! pic.twitter.com/u91Wt57BzD
At the same time, futures markets saw sharp margin increases, which added pressure and forced some traders out of positions.
In that environment, tokenized silver offers an alternative. It allows exposure without dealing with futures contracts or physical custody, which makes products like SLVon easier to access for many investors.
Ondo Broader RWA Positioning
SLVon is only one part of Ondo larger strategy. Tokenized equities hit a new all-time high of $1.2 billion in total market value, and Ondo (ONDO) plans to launch tokenized U.S. stocks and ETFs on Solana in 2026. The project has also secured regulatory approval to offer tokenized assets across much of Europe.
These steps matter because they position Ondo as infrastructure, not just a single-product platform. Each new asset class adds more volume and more relevance to the network.
🚨ONDO’S TOKENIZED SILVER UP 155%
— Coin Bureau (@coinbureau) December 31, 2025
Ondo Finance’s SLVon is up 155% in 30 days, with market cap around $18 MILLION.
It’s a tokenized iShares Silver Trust (SLV) offering SLV-like exposure and dividend reinvestment. pic.twitter.com/CrQ5XaX96A
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What This Could Mean for ONDO Price
If tokenized silver remains a niche product, Ondo price will likely continue to move alongside general RWA adoption rather than silver itself. At around $0.3732, the token already reflects some expectation that Ondo becomes a long-term settlement layer for real assets.
If tokenized metals start to scale, the picture changes. Silver is one of the most traded commodities globally.
Even a small shift toward on-chain exposure could push volumes much higher. That would increase usage of Ondo rails and make the ONDO token more central to that activity.
Moreover, none of this guarantees a specific price outcome. Tokenized commodities still face regulatory and adoption challenges. But the fast growth of SLVon shows there is demand when products are simple and familiar.
If tokenized silver becomes a standard part of on-chain portfolios, Ondo role expands naturally. In that case, ONDO would be valued less as a speculative token and more as financial infrastructure supporting real-world markets.
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