XRP Treasury Firm Evernorth Sits on $380 Million Loss as Price Struggles
Evernorth, a major XRP holder, faces an unrealized loss exceeding $380 million due to the cryptocurrency's declining price.Summary
Evernorth Holdings, one of the world's largest holders of XRP, is experiencing significant financial strain, reporting an unrealized loss of over $380 million as XRP trades below $1.50. Evernorth currently holds approximately 473.28 million XRP, valued around $684.7 million, with its last major purchases occurring in late 2023.
This situation mirrors broader concerns across Digital Asset Treasuries (DATs), with some analysts warning the model is a "leverage explosion waiting to happen." If companies face urgent cash needs, forced asset sales could further depress altcoin prices.
However, positive developments in the Ripple ecosystem, such as the integration of Hyperliquid into Ripple Prime and the launch of XRPL Permissioned Domains, are keeping retail investor sentiment for XRP relatively optimistic compared to Bitcoin and Ethereum. Furthermore, a significant drop in XRP open interest on Binance suggests a major leverage flush, which analysts believe could pave the way for a healthier, sustainable price recovery, although XRP would still need to rise substantially to cover Evernorth's entry price losses.
(Source：BeInCrypto)