PANews reported on September 27 that according to data from Strategythreserve, as the price of ETH fell, the mNAV indicators of the three Ethereum treasury companies, SharpLink, The Ether Machine and ETHZilla, have all fallen below 1, reaching 0.99, 0.07 and 0.88 respectively. The three companies' current ETH holdings are 838,730, 495,360 and 102,240 respectively. The ratio of market capitalization to net asset value (mNAV) is a key indicator for measuring the valuation of a treasury company. If mNAV is greater than 1, the company can issue additional shares within the premium range and use the proceeds to purchase ETH, thereby increasing the ETH holdings per share and bringing about a thickening of the book value. If it converges to 1 or below 1, the price of ETH itself will decline and the secondary market will be weak, and the flywheel mechanism will shift from "thickening" to "dilution", forming a negative feedback. PANews reported on September 27 that according to data from Strategythreserve, as the price of ETH fell, the mNAV indicators of the three Ethereum treasury companies, SharpLink, The Ether Machine and ETHZilla, have all fallen below 1, reaching 0.99, 0.07 and 0.88 respectively. The three companies' current ETH holdings are 838,730, 495,360 and 102,240 respectively. The ratio of market capitalization to net asset value (mNAV) is a key indicator for measuring the valuation of a treasury company. If mNAV is greater than 1, the company can issue additional shares within the premium range and use the proceeds to purchase ETH, thereby increasing the ETH holdings per share and bringing about a thickening of the book value. If it converges to 1 or below 1, the price of ETH itself will decline and the secondary market will be weak, and the flywheel mechanism will shift from "thickening" to "dilution", forming a negative feedback.
Analysis: SharpLink and other three leading ETH treasury companies have all seen their mNAVs fall below 1, suggesting a negative feedback loop in the “flywheel”
PANews reported on September 27 that according to data from Strategythreserve, as the price of ETH fell, the mNAV indicators of the three Ethereum treasury companies, SharpLink, The Ether Machine and ETHZilla, have all fallen below 1, reaching 0.99, 0.07 and 0.88 respectively. The three companies' current ETH holdings are 838,730, 495,360 and 102,240 respectively.
The ratio of market capitalization to net asset value (mNAV) is a key indicator for measuring the valuation of a treasury company. If mNAV is greater than 1, the company can issue additional shares within the premium range and use the proceeds to purchase ETH, thereby increasing the ETH holdings per share and bringing about a thickening of the book value. If it converges to 1 or below 1, the price of ETH itself will decline and the secondary market will be weak, and the flywheel mechanism will shift from "thickening" to "dilution", forming a negative feedback.
Piyasa Fırsatı
Ethereum Fiyatı(ETH)
$3,018.64
$3,018.64$3,018.64
USD
Ethereum (ETH) Canlı Fiyat Grafiği
Sorumluluk Reddi: Bu sitede yeniden yayınlanan makaleler, halka açık platformlardan alınmıştır ve yalnızca bilgilendirme amaçlıdır. MEXC'nin görüşlerini yansıtmayabilir. Tüm hakları telif sahiplerine aittir. Herhangi bir içeriğin üçüncü taraf haklarını ihlal ettiğini düşünüyorsanız, kaldırılması için lütfen [email protected] ile iletişime geçin. MEXC, içeriğin doğruluğu, eksiksizliği veya güncelliği konusunda hiçbir garanti vermez ve sağlanan bilgilere dayalı olarak alınan herhangi bir eylemden sorumlu değildir. İçerik, finansal, yasal veya diğer profesyonel tavsiye niteliğinde değildir ve MEXC tarafından bir tavsiye veya onay olarak değerlendirilmemelidir.
Ayrıca Şunları da Beğenebilirsiniz
IP Hits $11.75, HYPE Climbs to $55, BlockDAG Surpasses Both with $407M Presale Surge!
The post IP Hits $11.75, HYPE Climbs to $55, BlockDAG Surpasses Both with $407M Presale Surge! appeared on BitcoinEthereumNews.com. Crypto News 17 September 2025 | 18:00 Discover why BlockDAG’s upcoming Awakening Testnet launch makes it the best crypto to buy today as Story (IP) price jumps to $11.75 and Hyperliquid hits new highs. Recent crypto market numbers show strength but also some limits. The Story (IP) price jump has been sharp, fueled by big buybacks and speculation, yet critics point out that revenue still lags far behind its valuation. The Hyperliquid (HYPE) price looks solid around the mid-$50s after a new all-time high, but questions remain about sustainability once the hype around USDH proposals cools down. So the obvious question is: why chase coins that are either stretched thin or at risk of retracing when you could back a network that’s already proving itself on the ground? That’s where BlockDAG comes in. While other chains are stuck dealing with validator congestion or outages, BlockDAG’s upcoming Awakening Testnet will be stress-testing its EVM-compatible smart chain with real miners before listing. For anyone looking for the best crypto coin to buy, the choice between waiting on fixes or joining live progress feels like an easy one. BlockDAG: Smart Chain Running Before Launch Ethereum continues to wrestle with gas congestion, and Solana is still known for network freezes, yet BlockDAG is already showing a different picture. Its upcoming Awakening Testnet, set to launch on September 25, isn’t just a demo; it’s a live rollout where the chain’s base protocols are being stress-tested with miners connected globally. EVM compatibility is active, account abstraction is built in, and tools like updated vesting contracts and Stratum integration are already functional. Instead of waiting for fixes like other networks, BlockDAG is proving its infrastructure in real time. What makes this even more important is that the technology is operational before the coin even hits exchanges. That…
Paylaş
BitcoinEthereumNews2025/09/18 00:32
Academic Publishing and Fairness: A Game-Theoretic Model of Peer-Review Bias
Exploring how biases in the peer-review system impact researchers' choices, showing how principles of fairness relate to the production of scientific knowledge based on topic importance and hardness.
Paylaş
Hackernoon2025/09/17 23:15
Hadron Labs Launches Bitcoin Summer on Neutron, Offering 5–10% BTC Yield
Hadron Labs launches 'Bitcoin Summer' on Neutron, BTC vaults for WBTC, eBTC, solvBTC, uniBTC and USDC. Earn 5–10% BTC via maxBTC, with up to 10x looping.
Paylaş
Blockchainreporter2025/09/18 02:00