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Jinse Finance reported, citing The Block, that Geoffrey Kendrick, Head of Global Digital Assets Research at Standard Chartered Bank, stated that Ethereum will benefit more from the rise of Digital Asset Treasury (DAT) companies compared to BTC and Solana. In a report released on Monday, Kendrick pointed out that the recent sharp decline in the mNAV (the ratio of enterprise value to cryptocurrency holdings) of DAT companies will force differentiation among companies and may drive consolidation, especially among Bitcoin treasury companies. In contrast, Ethereum and Solana treasury companies should achieve higher mNAVs due to their ability to generate staking yields, but Ethereum's position is more solid. According to statistics, DAT companies currently hold 4% of all BTC, 3.1% of ETH, and 0.8% of SOL. Kendrick believes that the future success of DAT companies will be based on three factors: financing capability, scale, and yield. Among them, Ethereum treasury companies demonstrate greater resilience due to the advantage of staking yields, with the largest ETH DAT company, BitMine Immersion, already holding over 2 million ETH.

According to Jinse Finance, on-chain analyst Yujin has monitored that a whale holding 5.355 million UNI tokens is gradually transferring them to centralized exchanges. Four days ago, these tokens were transferred to the address 0xF436, and so far, 780,000 UNI (worth approximately $7.56 million) have already been deposited into multiple centralized exchanges.