Key Takeaways

DAT premiums kept compressing as MicroStrategy’s BTC buys slowed. Meanwhile, NYDIG warned shrinking premiums, driven by supply unlock fears, cloud their usefulness as market cycle indicators.

Publicly traded companies holding significant amounts of cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL], aka the Digital Asset Treasury (DAT) sector, are facing mounting pressure despite Bitcoin’s rally to fresh highs in August.

Data as of press time, from IntoTheBlock revealed that Bitcoin-heavy treasuries are seeing sharper declines in stacked market capitalization compared to their ETH and SOL counterparts.

Premiums of DAT firms decline

According to the New York Digital Investment Group (NYDIG), the situation is becoming increasingly critical as the premiums of DATs continue to shrink.

For context, these premiums are essentially the gap between their stock price and net asset value (NAV).

Greg Cipolaro, NYDIG’s Global Head of Research, noted that companies known for aggressive Bitcoin accumul

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Author: Ishika Kumari