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![winter_ree Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1387964645219127297.png) winter ree [@winter_ree](/creator/twitter/winter_ree) on x XX followers
Created: 2025-07-24 21:23:35 UTC

what am I missing? why is $SBET trading at such a higher NAV premium vs. $BMNR?

$BMNR - $3.7K implied ETH price / share
$SBET - $6.4K implied ETH price / share

![](https://pbs.twimg.com/media/Gwpw52RaIAAWJE4.png)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948494292051226977/c:line.svg)

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[Post Link](https://x.com/winter_ree/status/1948494292051226977)