Ether and ETH Treasury Companies Look Undervalued After Plunge: Standard Chartered
Since the beginning of June, ether treasury companies and ETH ETFs have purchased a massive 4.9% of the crypto’s circulation, the bank’s Geoff Kendrick said.
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Since the beginning of June, ether treasury companies and ETH ETFs have purchased a massive 4.9% of the crypto’s circulation, the bank’s Geoff Kendrick said.
Most cryptos have taken out their Sunday flash crash lows late in the U.S. session on Monday.
Despite the major partnership, LINK declined 5% over the past 24 hours alongside the broader crypto weakness.
The company now holds 102,237 ether worth about $489 million.
Support has formed in the $4.38-$4.41 zone, with resistance at $4.50.
ADA traded within a 10% range overnight as investors weighed macro signals and Cardano ecosystem updates.
The fundraising drew investment from major crypto firms ParaFi, Pantera, FalconX, CoinFund and others.
Monday’s stock declines came following a fast plunge in cryptocurrency prices late Sunday.
Kato’s remarks come amid concerns over Japan’s high debt-to-GDP ratio and the potential for financial repression and yen depreciation.
Digital asset treasuries have become all the rage recently, with many firms copying the strategy popularized by Michael Saylor’s bitcoin (BTC) holding firm Strategy.