The Digital Asset Treasuries board shows what public companies hold. It doesn't show what they could actually sell.
We measured all 75 tracked companies live, against real order-book depth across 13 exchanges (Binance, Bybit, Bitget, Hyperliquid, OKX, Gate, KuCoin, MEXC, Phemex, WOO X, Kraken Futures, Bitfinex, Deribit). The gap is real — 3 companies can currently sell less than 60% of their disclosed position before the book runs dry, and $606M of tested treasury value has no buyer at any price right now.
Full live table, all 75 companies ranked, methodology: https://www.ensotrade.tech/paper-cut-index
Would this be useful as a 'sellable now %' or slippage-at-size column on the treasury board? Happy to provide a live API feed (EnsoTrade EGRESS — same endpoint, free to query) as the data source, or just leave this here as a linked companion resource if that's a better fit than a new column.
— Om, EnsoTrade (ensotrade.tech)
The Digital Asset Treasuries board shows what public companies hold. It doesn't show what they could actually sell.
We measured all 75 tracked companies live, against real order-book depth across 13 exchanges (Binance, Bybit, Bitget, Hyperliquid, OKX, Gate, KuCoin, MEXC, Phemex, WOO X, Kraken Futures, Bitfinex, Deribit). The gap is real — 3 companies can currently sell less than 60% of their disclosed position before the book runs dry, and $606M of tested treasury value has no buyer at any price right now.
Full live table, all 75 companies ranked, methodology: https://www.ensotrade.tech/paper-cut-index
Would this be useful as a 'sellable now %' or slippage-at-size column on the treasury board? Happy to provide a live API feed (EnsoTrade EGRESS — same endpoint, free to query) as the data source, or just leave this here as a linked companion resource if that's a better fit than a new column.
— Om, EnsoTrade (ensotrade.tech)