One thing that I have always stressed when it comes back to XRP because again I'm not biased when it comes to XRP is the fact that the DeFi side of the XRP ledger is extremely lacking. We only have 70 almost $8 million tied back to DeFi on the XRP ledger. And if we're thinking about, you know, an old coin that has well over 100 plus billion dollars in market cap tied back to it, you would think that the underlying network would have a lot more value in terms of TVL tied to it.But no, we don't. What's crazy ...

Core Insights - Crypto-focused treasury companies are experiencing significant financial strain due to a recent market downturn that has eroded asset values and equity cushions [1] - Bitcoin-heavy firms are facing the sharpest losses, with Bitcoin prices dropping over 16% this month, briefly falling below $100,000 [2] - The decline in Bitcoin prices has led to a slowdown in purchases by major holders like Strategy, which has reduced its buying from thousands to hundreds of coins [2][3] Company Performance - Strategy, the largest corporate holder of Bitcoin with over 675,000 BTC, has seen its stock price drop approximately 53% from its all-time high to around $241.93 [3] - Metaplanet, holding 30,823 BTC at an average cost of $106,000, is facing over $120 million in unrealized losses, resulting in an 80% drop in its stock price [4] - Evernorth, the largest corporate holder of XRP, has accumulated 388.7 million XRP tokens, now facing an unrealized loss of about $79 million [6] - BitMine, the largest Ethereum treasury with over 3.4 million ETH, is experiencing deeper losses with an unrealized deficit of roughly $2.1 billion due to Ethereum's decline of over 22% in the past month [7] Market Trends - The overall market downturn is causing steep markdowns across altcoin-focused treasury companies, adding strain to the treasury landscape [5] - Analysts highlight a structural risk where companies that build positions during market strength face rapid capital erosion when market sentiment shifts [8]

Core Insights - The prolonged downturn in the cryptocurrency market has significantly impacted digital asset treasury companies, revealing vulnerabilities in their business models that rely on holding volatile crypto assets [1][10] Company-Specific Summaries - Evernorth, an XRP-focused treasury, has reported $78 million in unrealized losses shortly after acquiring XRP tokens, highlighting the financial strain on such firms [4][10] - Strategy (MSTR), known for its Bitcoin treasury strategy, has seen its stock decline by 26% over the past month, trading over 50% below its all-time high, although it remains profitable on its Bitcoin reserves with an average cost basis of around $74,000 per BTC [5][10] - BitMine, the largest Ether-holding corporation, is facing approximately $2.1 billion in unrealized losses due to its 3.4 million ETH holdings, having acquired over 565,000 ETH in the past month [6][10] Industry Trends - The recent selloff has sparked discussions regarding the sustainability of digital asset treasury companies (DATs), with many analysts warning of severe valuation stress as their market net asset value (mNAV) declines alongside crypto prices [7][10] - Some analysts, including those from Breed Capital, suggest that Bitcoin-focused treasuries may exhibit greater resilience, while others draw parallels to the dot-com bubble [8] - Galaxy Digital CEO Michael Novogratz posits that the surge of new crypto treasury companies has likely peaked, with a shift in focus towards which existing firms can scale and dominate the market [9]

Group 1 - A new major buyer, Evernorth, plans to make a $1 billion deposit to accumulate XRP, aiming to become the largest dedicated XRP treasurer in the market [2][5] - The merger with a special purpose acquisition company (SPAC) is expected to close in the first quarter of 2026, with purchases starting shortly thereafter [2][4] - Evernorth's purchase of approximately 375 million XRP, or about 0.6% of the circulating supply, is anticipated to have a significant positive impact on XRP's price [5][6] Group 2 - The growing number of slow-moving holders, including financial institutions and digital asset treasuries, is likely to constrain XRP's supply further, potentially leading to a permanent reduction in available coins [6] - The consideration of spot XRP exchange-traded funds (ETFs) by the SEC could create additional long-term demand for XRP, further tightening supply [6][7] - Overall, the price of XRP is expected to rise due to these developments [7]

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Evernorth, backed by digital payments giant Ripple, announced on Oct. 20 that it will list on the Nasdaq through a merger with blank-check firm Armada Acquisition Corp II (NASDAQ:AACI). The company aims to become the world's first publicly traded XRP treasury, raising over $1 billion to acquire the token tied to Ripple, the fifth-largest cryptocurrency by market capitalization. The move signals that major p ...

Cigna Group logged higher profit and revenue in the third quarter, boosted by continued strength in its pharmacy-benefit business Evernorth https://t.co/HBKrG23pOQ ...

🔥 LATEST: Evernorth reveals a plan to turn $XRP into a $1B corporate treasury asset.Will this make XRP the next go-to reserve for companies? https://t.co/PDb5HFMba5 ...

Crypto Market & ETFs - Bitwise's Solana Staking ETF debut recorded $55 million in trading volume, the highest first-day volume for a crypto ETF launched in 2025 [1] - Ripple-backed Evernorth acquired $1 billion in XRP ahead of its Nasdaq debut [3] Stablecoins & Blockchain - Visa will enable payments in four stablecoins across four blockchains with fiat conversion support [1] - Western Union plans to launch a stablecoin on the Solana blockchain [3] - Circle launched a public testnet for Arc, its new payments-focused blockchain [3] Fintech & Payments - PayPal is partnering with OpenAI to power instant checkout and agentic commerce in ChatGPT [3] Prediction Markets & Social Media - Truth Social is partnering with Cryptocom to launch a social media prediction market platform [1] Interest Rate Expectations - Markets are pricing in a 99.5% chance of a Federal Reserve rate cut to 3.75–4.00% at the FOMC meeting [2] SPAC & Public Offerings - Securitize, backed by BlackRock, is set to go public via a $1.25 billion SPAC merger with a Cantor Fitzgerald affiliate [3] Prediction Market Expansion - Polymarket plans to return to the U S within weeks, focusing on sports [3]

🚨 UPDATE: Ripple-backed Evernorth scoops up $1B in XRP ahead of its Nasdaq debut.Next big catalyst for $XRP? https://t.co/xQ9MxRRgRs ...

🔥 BULLISH: $XRP is flashing strong bullish signals, with Evernorth’s $1 billion accumulation and record exchange outflows fueling expectations of a surge toward $3 this November. https://t.co/WctiLKHg4t ...