Core Insights - Silver is significantly outperforming gold, indicating a potential second phase of the commodity bull market, with spot silver prices surging over 85% in 2025, rising from under $30 to over $54 per ounce [1] Supply and Demand Dynamics - The rally in silver prices is driven by tight inventories, persistent investor flows, and a structural supply deficit, with projections of silver reaching $60 next year [3] - Industrial demand for silver rose to 689 million ounces in 2024, with photovoltaic (PV) applications accounting for 244 million ounces, reflecting a more than 150% increase from 2020 [5] - The Silver Institute anticipates a fifth consecutive annual supply deficit of approximately 95 million ounces, despite weak demand for jewelry and silverware, which supports elevated prices [6] Production Challenges - Over 70% of mined silver is a byproduct of other metal production, limiting the ability of producers to respond quickly to price increases [7] - Several mines are scheduled to close by 2030, which may further tighten silver output [8] Technical Analysis - Silver's price patterns indicate a potential continuation of upward momentum, with a cup-and-handle pattern suggesting that silver may have further gains in 2025 [11]

Core Insights - Chainlink has partnered with DualMint to enhance the tokenization of real-world assets (RWA) through its BUILD program, providing essential infrastructure for projects that connect off-chain value to on-chain systems [1][5] - The LINK token has experienced significant growth, achieving an 82.5% increase since July 1, marking its best quarterly performance in nearly four years, with analysts projecting a potential long-term price target between $100 and $125 [2][6] Group 1 - DualMint is developing the "Boring Index Vault" to finance everyday businesses, aiming to connect them to blockchain liquidity and provide predictable rewards in USDC [3] - The integration of Chainlink services will enhance DualMint's platform security and reliability, utilizing Chainlink Data Feeds and Proof of Reserve for asset yield markets and liquidity management [4] - DualMint will allocate a percentage of its native token supply to Chainlink service providers, fostering a mutually beneficial relationship that supports the growth of both ecosystems [5] Group 2 - The partnership with DualMint is part of a broader strategy for Chainlink, following other strategic developments, including an AI partnership, which contribute to a strong foundation for its long-term vision [6]