The lights in Shui Bei, Shenzhen, burn all night without extinguishing. On the big screen, platinum spot prices just broke through $2,000 per ounce, reaching a 16-year high. On the retail side, Luk Fook Jewelry's 999 pure platinum has been marked at 837 yuan per gram—several times higher than the 300-plus yuan at the beginning of 2024. A hoarder stares at the mobile quote, his voice faint: "This is not just a price increase; it's a struggle for future dominance."

Meanwhile, in the invisible on-chain world, nodes of decentralized networks are globally updating the underlying data of this transformation: South African mine capacity, China's monthly hydrogen vehicle production, global platinum inventory flows… These data are transformed into verifiable, tradable asset forms through encryption protocols, becoming new anchors of value.

**Dark Horse in Precious Metals Makes a Comeback**

If you still see platinum as "a white metal cheaper than gold," you might be missing out on this year's most intense asset rotation.

The data is in front of us: gold is expected to rise about 64% by 2025, a remarkable achievement. But what about platinum? Its increase has surpassed 110%, crushing all mainstream precious metals. What is the key moment? Platinum futures have, for the first time since 2008, broken above $2,000 per ounce.

In just 12 days, the price per gram surged by 137 yuan, even faster than gold. This is not hype but a reflection of industry realities pricing the market—hydrogen vehicles, fuel cells, industrial catalysis… The industrial applications of platinum are exploding.

**From Market to Chain: Data Becomes the New Oil**

Traditional precious metal trading relies on spot prices and futures contracts. But when data becomes a new factor of production, on-chain oracles begin to play a new role. These distributed networks capture real-time global capacity data, inventory flows, and industry trends, transforming them into tradable on-chain information assets.

What does this mean? It means a small retail investor can gain insights from on-chain data to buy low or sell high in advance; it means upstream and downstream industry players can hedge based on transparent data; it means the efficiency of price discovery is being redefined.

**What’s Next?**

The price cycles of precious metals often reflect industry prospects. When hydrogen vehicles enter mass production, platinum demand will continue to grow. But prices are just surface indicators; what truly matters are the data flows that can accurately capture industry pulses. Those who master real-time data will be the true winners in this rotation.