James Chanos, a noted short seller, described MicroStrategy's Bitcoin treasury as an "$80 billion actionable spread," pointing to a significant valuation gap between the company's Bitcoin holdings and its market capitalization. MicroStrategy holds about 840,447 bitcoins worth roughly $53.95 billion at current prices, while its market cap is around $34.4 billion. However, this difference is not a direct arbitrage profit as it excludes debt, preferred shares, and other financial factors. Chanos previously profited from a similar trade by shorting MicroStrategy shares and going long on Bitcoin but closed that position in late 2025. The company's Bitcoin balance has declined slightly due to sales, and ongoing financing and management risks mean the trade is not risk-free. Future moves by MicroStrategy and Bitcoin price changes will affect whether the stock trades at a premium or discount to its net asset value.
Zcash (ZEC) pulled back to $1,429 after reaching a year-to-date high of $1,590, ending a streak of double-digit gains. The price drop coincided with Grayscale's announcement of a 3-for-1 share split for its $914M Zcash ETF, which has attracted strong...
Hyperliquid, a decentralized perpetual futures exchange on its own Layer-1 blockchain, generated $429 million in revenue from January to September 2026, topping all crypto protocols for the year. It has earned over a third of its total lifetime reven...
Injective has completed its first onchain trade finance pilot with South Korea's largest trading company, POSCO International, and LG CNS. The pilot used AI to review trade documents and issued trade receivables as programmable, compliant onchain ass...
Despite ongoing efforts to burn Shiba Inu (SHIB) tokens since 2021, the price remains far below its peak, currently at $0.00000549. Over the past 30 days, only about 476.96 million SHIB tokens were burned, which is just 0.00008% of the circulating su...
Binance Coin (BNB) trades at $761.74 with a market cap of $101.4 billion, making it the fourth-largest crypto asset as of September 20, 2026. This milestone is largely due to a $3.6 billion increase in tokenized real-world assets (RWA) on the BNB Cha...
