Recently, U.S. stocks related to encryption have shown a general trend of fall, attracting market follow. Among them, well-known companies such as BMNR, Coinbase, and MSTR have all experienced varying degrees of decline in their stock prices. This phenomenon reflects the current low state of market sentiment.

It is worth noting that BMNR, one of the largest institutional holders of Ethereum, is facing substantial unrealized losses, raising concerns about its financial condition. At the same time, SharpLink is exploring financing through convertible bonds to stabilize its stock price, demonstrating the company's efforts to seek self-preservation amid market volatility.

However, not all companies are adopting a conservative strategy. Cemtrex boldly purchased 1 million SOL tokens as reserves, while Metaplanet plans to issue billions of preferred shares. These actions indicate that, despite the overall sluggish market, there are still publicly listed companies continuously increasing their holdings in encryption currency, demonstrating confidence in the long-term development of the industry.

From a personal investment perspective, the current market adjustment may contain opportunities. The market concentration of Ethereum has increased, which may indicate potential appreciation space in the future. For investors who follow cryptocurrency-related stocks, closely monitoring the performance of treasury stocks may be a wise choice. At the same time, waiting for the market reaction after the non-farm payroll data is released may also provide important references for investment decisions.

Overall, the current encryption market is experiencing a phase of both challenges and opportunities. The diversification strategies of enterprises and the rational judgment of investors will play a key role during this period of volatility.