Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
Ripple-backed Evernorth faces $220M drawdown as XRP struggles
Source: CryptoBriefing Original Title: Ripple-backed Evernorth faces $220M drawdown as XRP struggles Original Link: https://cryptobriefing.com/evernorth-faces-220-m-drawdown-xrp-struggles/
Key Takeaways
Evernorth Holdings, an XRP treasury entity backed by Ripple executives, is sitting on paper losses of more than $220 million following the coin’s recent downturn.
According to data tracked by CryptoQuant, Evernorth’s XRP position totals approximately 389 million tokens, purchased for about $947 million.
Based on the current XRP price of $1.86, the value of that stake has declined to $724 million, resulting in a sizable unrealized deficit for the firm.
XRP, Ripple’s native crypto asset, has dropped around 16% over the past 30 days amid a market-wide correction that pushed Bitcoin below $88,000.
Prices have weakened even as US-listed XRP ETFs have posted consistent inflows since their debut, collectively taking in over $1 billion.