On January 31, according to Bitget market data, spot silver once dropped over 35% in a single day on January 30, ultimately closing down 26.48%, the largest single-day decline ever, with a closing price of $85.3. Additionally, according to Coinglass data, $1.382 billion was liquidated across the entire network in the past 24 hours, including $150 million in XYZ:SILVER (mainly silver on Hyperliquid), $36.69 million in XAG. Silver trading has become the third-largest liquidated asset in the crypto space, after Ethereum and Bitcoin. Silver, as a TradFi trading asset, has been listed in the crypto space for less than a month.