X @Ignas | DeFi

RT Ignas | DeFi (@DefiIgnas)idk, these DATs make me nervous already- mNAVs compressed, trading at or below 1- BMNR has to buy back its stock while also buying non-ETH assets- BTCS launched the ETH “bividend” but price still fails to rally, mNAV at 0.66For ETH it is most worrying. DATs pumped ETH, but now struggle as retail is not buying the ETH story.For ENA, SOL, HYPE it's still earlier days so perhaps can do better.Most DATs were random businesses before pivoting to crypto. Pure mercenary capital:• Convan ...