Evernorth Holdings, the cryptocurrency vault managed by Ripple-affiliated executives, is experiencing substantial unrealized losses on its massive XRP reserves. Data tracked by CryptoQuant reveals the entity holds approximately 389 million XRP tokens—a position originally acquired at a weighted average cost basis of roughly $947 million.
Current Valuation Gap Widens
With XRP trading at $2.05 as of the latest market data, the current market value of Evernorth’s holdings stands at approximately $797 million. This represents a significant markdown from the original purchase cost, creating a substantial paper loss that reflects the volatility in the broader cryptocurrency market and XRP’s price movements since acquisition.
Breaking Down the Numbers
The arithmetic reveals the magnitude of the position:
Original Investment: ~$947 million
Current Market Value: ~$797 million at $2.05 per token
Unrealized Loss: Over $150 million
Loss Percentage: Approximately 16% underwater
The 389 million XRP tokens constitute one of the largest institutional holdings in the XRP ecosystem, and fluctuations in token price directly translate to substantial swings in the vault’s balance sheet.
Market Context
Evernorth’s substantial position underscores both the long-term commitment of Ripple’s leadership to the XRP ecosystem and the inherent price risk associated with concentrated cryptocurrency holdings. The vault’s performance serves as a barometer for institutional confidence in XRP’s valuation amid the evolving regulatory and market landscape.
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Posisi XRP sebesar 389 Juta milik Evernorth Holdings Mengalami Kerugian Kertas yang Signifikan di Tengah Volatilitas Harga
Evernorth Holdings, the cryptocurrency vault managed by Ripple-affiliated executives, is experiencing substantial unrealized losses on its massive XRP reserves. Data tracked by CryptoQuant reveals the entity holds approximately 389 million XRP tokens—a position originally acquired at a weighted average cost basis of roughly $947 million.
Current Valuation Gap Widens
With XRP trading at $2.05 as of the latest market data, the current market value of Evernorth’s holdings stands at approximately $797 million. This represents a significant markdown from the original purchase cost, creating a substantial paper loss that reflects the volatility in the broader cryptocurrency market and XRP’s price movements since acquisition.
Breaking Down the Numbers
The arithmetic reveals the magnitude of the position:
The 389 million XRP tokens constitute one of the largest institutional holdings in the XRP ecosystem, and fluctuations in token price directly translate to substantial swings in the vault’s balance sheet.
Market Context
Evernorth’s substantial position underscores both the long-term commitment of Ripple’s leadership to the XRP ecosystem and the inherent price risk associated with concentrated cryptocurrency holdings. The vault’s performance serves as a barometer for institutional confidence in XRP’s valuation amid the evolving regulatory and market landscape.