DAT Sector Faces Market Recalibration

[madtrader]

On-chain data shows that mNAV ratios for most DATs are converging toward 1.0, reflecting a collapse in market premiums. Firms that merely hold crypto risk trading at discounts, while those “doing hard things” may continue to earn investor confidence.

Hougan concluded: “Good companies get rewarded for doing hard things well. Bad companies taking the easy route get punished.” The DAT market now rewards operational edge over passive accumulation.

[Nahid Hossen]

Recalibration was overdue — too many projects running without fundamentals. ️

[EmTeam]

This correction could separate real utility from short-term hype.

[EmTeam]

great