Ethereum Price Today: $4,520
Ethereum (ETH) trades around $4,520 on Monday. Standard Chartered says digital asset treasuries (DATs) holding Ethereum may be more sustainable than those holding Bitcoin or Solana.
Ethereum DATs More Sustainable Than Bitcoin and Solana
Digital asset treasuries (DATs) are public companies that hold most of their assets in cryptocurrencies. Geoffrey Kendrick, Standard Chartered’s global head of digital asset research, says Ethereum-focused DATs have a better chance of success than Bitcoin or Solana DATs.
The bank noted investors worry about DATs’ stock prices and market to net asset values (mNAVs). mNAV compares a company’s market value to its asset value. An mNAV above 1 means the company trades at a premium, showing market confidence.
Kendrick said, “Sustainable DATs need an mNAV above 1 to keep buying crypto assets.”
He added that DATs’ success depends on their ability to raise funds cheaply, their size, and whether their assets generate yield.
Over the past year, DATs have influenced Bitcoin and Ethereum prices. But Bitcoin DATs face saturation and possible consolidation, which may lower demand. Ethereum and Solana DATs can generate yield through staking, making them more attractive.
Kendrick said, “ETH and SOL DATs should have higher mNAVs than BTC DATs due to staking yield.”
Between Ethereum and Solana, Ethereum DATs have a better chance of long-term success. A recent Nasdaq rule requires companies to get shareholder approval before raising funds to buy crypto. This may pressure Solana DATs, which are less developed.
BitMine Immersion (BMNR), holding the largest Ethereum treasury worth about $9.7 billion, trades on the NYSE. It plans to buy 5% of Ethereum’s circulating supply.
Kendrick said, “ETH DATs have the highest probability of being sustainable, so ETH buying by DATs can continue at pace.”
Standard Chartered has called ETH DATs “very investable” and expects their mNAVs to outperform Bitcoin-focused strategies.
Ethereum Price Outlook: Testing $4,500 Support After Weekend Drop
Ethereum saw $113.8 million in futures liquidations in the last 24 hours. This included $93.2 million in long and $20.6 million in short liquidations.
ETH tested the key $4,500 support level on Monday. This level is supported by the 14-day Exponential Moving Average (EMA). The price fell after failing to hold above $4,700 over the weekend.
If ETH falls below $4,500, it may find support near the 50-day Simple Moving Average (SMA). If it fails there, the next support is near the $4,000 psychological level.
On the upside, ETH must break its all-time high resistance at $4,956 to start a new uptrend.
Technical indicators like the Relative Strength Index (RSI) and Stochastic Oscillator are close to dropping below neutral levels, signaling possible further weakness.
