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Market data snapshot

Can they actually sell?

Every public crypto treasury tracker shows what a company holds. None of them show what it could sell — right now, against the order book that actually exists. We measured nine.

Live L2 depth across up to 13 perpetual venues, walked until filled or the book runs out. Not investment advice — see methodology below. · API docs

Snapshot captured 2026-08-27, ~16:10 UTC
4 / 9
can sell less than 75% of their position right now
12.4%
of Cypherpunk's $260M ZEC position is sellable today
5 / 9
sit at 94%+ exitable — no real liquidity problem
Ranked by how much of the position has a real buyer right now
01
Cypherpunk Technologies CYPH ZEC
$259.9M position · Winklevoss-backed Zcash treasury
venue detail
Sellable now
$32.1M of $259.9M
Forced full-exit slippage
36.9%
Venues answering
12 / 13 (binance down)
ZEC price used
$803.81
12.4%
exitable now
3,694bp slip if forced
02
Hyperliquid Strategies HYPD HYPE
Real position $1.69B — priced against our $500M evaluation ceiling
venue detail
Sellable now
$65.7M of $500M priced
Slippage at priced size
3.4%
Venues answering
12 / 13 (binance down)
HYPE price used
$84.68
13.1%
of priced size
real position exceeds our cap
03
CEA Industries BNC BNB
$366.6M position
venue detail
Sellable now
$79.4M of $366.6M
Forced full-exit slippage
2.6%
Venues answering
12 / 13 (woox down)
BNB price used
$711.10
21.7%
exitable now
256bp slip if forced
04
AVAX One Technology AVAX AVAX
$103.5M position
venue detail
Sellable now
$71.6M of $103.5M
Forced full-exit slippage
2.7%
Venues answering
12 / 13 (woox down)
AVAX price used
$7.511
69.2%
exitable now
268bp slip if forced
05
SUI Group Holdings SUIG SUI
$85.6M position
venue detail
Sellable now
$80.5M of $85.6M
Forced full-exit slippage
2.7%
Venues answering
11 / 13 (binance, woox down)
SUI price used
$0.7845
94.1%
exitable now
269bp slip if forced
06
The Ether Machine ETHM ETH
Real position $1.25B — priced against our $500M evaluation ceiling
99.5%
of priced size
166bp slip at $500M
07
Bit Origin Ltd BTOG DOGE
$3.6M position — small enough to clear cleanly
100%
exitable now
8bp slip if forced
08
Upexi, Inc. UPXI SOL
$232.7M position
100%
exitable now
96bp slip if forced
09
Strategy Inc MSTR BTC
Real position $67.7B — priced against our $500M evaluation ceiling; full position not testable
100%
of priced size
39bp slip at $500M

Methodology: for each coin, live order-book levels across up to 13 perp venues (Binance, Bybit, Bitget, Hyperliquid, OKX, Gate, KuCoin, MEXC, Phemex, WOO X, Kraken Futures, Bitfinex, Deribit) are merged and walked until the stated position fills or depth runs out. Position size = disclosed holdings × live spot price at capture time. Visible L2 depth only — hidden liquidity, OTC desks and resting size beyond top-of-book are not counted, so "sellable now" is a floor, not a ceiling. Evaluation is capped at $500M per request; positions above that are priced at the cap and labeled accordingly. This is a point-in-time snapshot, not a live feed — numbers move with the market. Holdings figures from company disclosures and public treasury trackers, current as of capture. Computed with EnsoTrade's EGRESS endpoint, the same one available to any Pro API key.

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