TechFlow, Nov. 12 — According to a B. Riley bank report cited by CoinDesk, although digital asset holding companies have recently continued to weaken, signs of stabilization have emerged, primarily due to reduced macro risks and short covering. BitMine leads the sector with approximately $360 million in new Ethereum holdings added, reaching 11.2 ETH per 1,000 shares, far surpassing the industry average of 4.0. The median market net asset value (mNAV) among 25 tracked firms declined from 1.0 to 0.9, but valuations remain attractive given significant discounts applied to crypto holdings. Analysts note that improving macro conditions—such as increased adoption of government funding protocols and stablecoins—could serve as catalysts for a market rebound.
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