Crypto
Home›Crypto›Market Structure›Evernorth begins Nasdaq trading with XRP stake worth a…
Evernorth begins Nasdaq trading with XRP stake worth about 40% less
Evernorth started trading after its SPAC merger closed, with Decrypt noting that 80% of SPAC investors cashed out before the deal.
Evernorth, backed by Ripple, began trading on Nasdaq after its SPAC merger closed, according to Decrypt.
Decrypt said 80% of SPAC investors cashed out before the transaction, leaving the company with an XRP position that is worth roughly 40% less than at the time of signing.
The outlet also reported that Evernorths XRPN shares launched on Monday as its XRP holdings were valued far below the level implied when the deal was announced.
Latest closeXRP $1.334 ▼5.3%|Nasdaq Comp. 27,193.34 ▼1.2%
← Newer storySoar AI lands up to $1B equity facility for AI data center sitesOlder story →White House grid security order may disrupt battery storage supply ch…