Crypto Treasury Firm Market Value Hits $340 Billion as Altcoin DATs Lead the Charge
The market capitalization of crypto treasury firms has resumed growing, reaching around $340 billion as of mid-August. This represents a 10% increase since October and November last year when Bitcoin traded near its record high.
Major DATs such as Strategy and Bitmine have gained 30% and 27%, respectively, outperforming their underlying assets, Bitcoin and Ethereum. These gains are even more pronounced for DATs holding altcoins, with PURR surging 62% and CYPH jumping 142%.
The business model of crypto treasury firms is expanding beyond simply holding tokens to direct participation in blockchain ecosystems. Companies like PURR operate validators and participate in governance voting, while CYPH provides hash rate to the Zcash network through its mining business.