On-Chain Analysis Platform CryptoQuant Says Many Cryptocurrency Companies Are Under Serious Pressure! Here Are the Details
On-chain analytics platform CryptoQuant reported in its latest report published on the X platform that many crypto finance companies are under serious pressure due to unrealized losses.
CryptoQuant: Crypto Finance Companies Under Pressure from Unrealized Losses
According to the report, not only Bitcoin but also the corporate companies that hold this asset are negatively affected by the current market conditions.
According to CryptoQuant data, Evernorth’s Odaily position has accumulated approximately $78 million in unrealized losses after only 2.5 weeks of trading.
Similarly, shares of Strategy have recently tumbled 53% and are currently trading near MSTR’s $221 Bitcoin position floor.
The report also revealed that Metaplanet purchased 30.8% of Bitcoin at an average price of $106,000 and currently has an unrealized loss of approximately $120 million. The company’s shares have also fallen by approximately 80% from their all-time high.
Meanwhile, Bitmine is facing unrealized losses of approximately $2.1 billion despite adding 442,000 Ethereum to its portfolio following the market crash on October 10.
CryptoQuant stated that this situation reflects the general cautious atmosphere in the markets, emphasizing that institutional investors are currently focusing on minimizing their losses and managing risk.
*This is not investment advice.