SVRN, a NEAR treasury holder, drops more than 20% intraday
- —SVRN opened October 1 down 13.81% at $43.05
- —Intraday losses topped 20%, hitting $39.49
- —The stock had risen 10.98% in premarket trading
- —Optical peers Lumentum and Coherent gained about 10%
Why it matters: SVRN is one of the few public companies holding NEAR, so its selloff may signal pressure on crypto treasury firms.
Source: TokenPost