According to The Defiant, the Coinbase Institute's September Monthly Outlook report shows that digital asset treasury companies (DATs) have moved from an early stage of easy profits to a more intense period of competition; with the increase in the number of DATs this year, regulatory constraints and enforcement risks, the scarcity premium of early benefits has subsided, and the market capitalization/net worth ratio (mNAV) of related companies has been compressed. Participants with only strategic...
据The Defiant,Coinbase Institutional9月《Monthly Outlook》报告显示,数字资产国库公司(DATs)已从早期的轻松获利阶段转入更为激烈的竞争期;随着今年DAT数量增多、监管约束与执行风险上升,早期受益的稀缺溢价消退,相关公司市值/加密资产净值比(mNAV)出现压缩,仅具备战略纪律与执行力的参与者更可能存活。 据第三方数据显示,17家持有ETH的上市公司中,已...