Ethereum

Silver

Gold

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-the-rise-of-silver-and-silver-backed-altcoins/" data-wpel-link="internal">Exploring the Rise of Silver and Silver-Backed Altcoins</a> 
The tension between Iran and Israel has triggered a rise in gold and silver prices. Particularly, silver has outperformed gold in terms of value increase since the beginning of the year, establishing itself as a quietly strong asset. Since the start of the year, silver has seen a value increase exceeding 20%, recently reaching $29.79 per ounce, and for the first time since May 2021, it nearly touched $30 per ounce. This peak in silver prices not only increased demand for the precious metal but also boosted interest in limited but physically backed <a href="https://coin-turk.com/efsane-geri-donus-sinyali-verdi-shibada-tek-bir-seviye-muhtesem-yukselisi-tetikleyebilir" data-wpel-link="internal">altcoins</a>. 
<h2 style="text-align: justify" id="strong-the-rise-of-txag-and-kag-strong">The Rise of TXAG and KAG</h2> 
Among tokenized silver-based altcoins, Aurus’s tSILVER (TXAG) stands out as a leading player in this field. TXAG, a silver-backed stablecoin operating on the <a href="https://en.coin-turk.com/whales-now-hold-62-76-million-eth-in-ethereum/" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/crypto-market-faces-intense-sell-off-pressure/" data-wpel-link="internal">ETH</a>) <a href="https://coin-turk.com/blockchain-destekli-akilli-telefon-icin-uretici-bulundu" data-wpel-link="internal">Blockchain</a>, is minted by a network of investors from the traditional precious metals market. Each unit of TXAG is backed 1:1 by one gram of 99.99% LBMA-certified silver. 
TXAG is currently trading at $0.9187, with data showing a 1.22% increase in the last 24 hours, 2.54% over the past week, and 57.17% over the last 30 days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340614" src="https://coin-turk.com/wp-content/uploads/2024/04/tSILVER-TXAG.jpg" alt="" width="1624" height="792"> 
Another notable participant in the tokenized silver field is Kinesis Money’s Kinesis Silver (KAG), which was launched on the Dubai-based Emirex exchange along with Kinesis Gold (KAU) a year ago. KAG is supported by high-quality silver stored in fully insured and audited vaults. Currently, KAG is trading at $28.69, experiencing a slight 0.8% decrease in the last 24 hours, but it has risen 2.04% over the past week and 12.29% over the last 30 days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340613" src="https://coin-turk.com/wp-content/uploads/2024/04/Kinesis-Silver-KAG-Altcoin.jpg" alt="" width="1624" height="792"> 
<h2 style="text-align: justify" id="strong-investors-should-exercise-caution-strong">Investors Should Exercise Caution</h2> 
Experts warn that despite the allure of silver-backed altcoins, similar to their gold-backed counterparts, investors should be cautious due to the natural risks associated with these assets. Detailed analysis and comprehensive assessment of one’s risk tolerance are necessary before making substantial investments. 
Although the potential returns are attractive, it is crucial to be aware of the high volatility typically associated with the cryptocurrency world and to clearly understand market dynamics. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-the-rise-of-silver-and-silver-backed-altcoins/" data-wpel-link="internal">Exploring the Rise of Silver and Silver-Backed Altcoins</a></h5>

Exploring the Rise of Silver and Silver-Backed Altcoins

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