Steve Ehrlich: Digital asset treasuries are trading at deep discounts, M NAVs reveal market valuation challenges, and Ethereum’s staking makes it a superior asset | Unchained

Digital asset treasuries are companies holding crypto on their balance sheets, often trading at discounts. M NAV is a metric for valuing companies relative to their crypto holdings. The decline in crypto prices has significantly impacted M NAVs, raising questions about equilibrium.

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