Odaily Planet Daily reports that publicly listed crypto asset treasuries (DATs) have been facing a chain reaction of market risks triggered by increased selling pressure, after driving the market higher last year. Data shows that since Bitcoin dropped nearly 50% from its peak of $126,000 in October last year, the median stock price of the 150 largest DATs has fallen by 62%, with losses even exceeding those of Bitcoin. Tokenize Capital managing partner Hayden Hughes analyzed that DATs with no revenue and relying solely on hoarding crypto assets will be forced to sell holdings to maintain operations, which could undermine investors’ confidence in their “long-term HODL” narrative and trigger broader market sentiment contagion. (Bloomberg)
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Bloomberg: Crypto Treasury-Listed Companies Face Increasing Selling Pressure, Potentially Triggering Market Chain Risks
Odaily Planet Daily reports that publicly listed crypto asset treasuries (DATs) have been facing a chain reaction of market risks triggered by increased selling pressure, after driving the market higher last year. Data shows that since Bitcoin dropped nearly 50% from its peak of $126,000 in October last year, the median stock price of the 150 largest DATs has fallen by 62%, with losses even exceeding those of Bitcoin. Tokenize Capital managing partner Hayden Hughes analyzed that DATs with no revenue and relying solely on hoarding crypto assets will be forced to sell holdings to maintain operations, which could undermine investors’ confidence in their “long-term HODL” narrative and trigger broader market sentiment contagion. (Bloomberg)