[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![mAxLPHA Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1234266128442150913.png) Max Alpha [@mAxLPHA](/creator/twitter/mAxLPHA) on x XX followers
Created: 2025-07-17 17:33:32 UTC

WOW - this is bad news for all these $ETH treasury companies like $SBET $BMNR trading at 3-4x mNAV. 

X. Lower staking yields
X. $ETHA the big boy in ETH holdings... trading at like 1x mNAV - they have ~2m ETHs vs SBET's ~300k (so almost 10x more ETHs than the largest, $SBET)


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945899683844386897/c:line.svg)

**Related Topics**
[bmnr](/topic/bmnr)
[signals](/topic/signals)
[investment](/topic/investment)
[approved](/topic/approved)
[fund manager](/topic/fund-manager)
[sec](/topic/sec)
[2m](/topic/2m)
[staking](/topic/staking)

[Post Link](https://x.com/mAxLPHA/status/1945899683844386897)