《In-Depth Analysis of Crypto Stocks: Understanding the Logic of Equity Dilution and Per-Share Crypto Holdings》 (Author: @agintender) The rise and fall of crypto stocks (DAT) essentially stem from equity dilution and changes in the net value of crypto assets per share. During bull markets, DAT amplifies its holding leverage by raising funds at a premium to buy crypto; but when sentiment cools, high valuations become unsustainable, dilution accelerates, buybacks stall, and a negative cycle begins. The key focus should be on per-share crypto asset content, mNAV premium, and financing terms. As the industry evolves, some DATs are beginning to explore staking and other income models, transitioning from "passive holding" to "productive finance." Read the full article: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=48372