XRP New Treasury Company Evernorth Surges Over 13% at One Point on First Day of Listing, Holds Approximately 473 Million XRP

BlockBeats news, October 12: According to BIT (Bit.com) market data, Evernorth Holdings (XRPN), a company focused on an XRP treasury, officially listed on Nasdaq today. Its stock price rose as much as 13.43% on its first day of trading before giving back gains and is now up 1.49%. The company is expected to hold approximately 473 million XRP, worth about $657 million at current prices, and said it will become the world's largest publicly listed XRP treasury company.

On the same day, Evernorth announced the appointment of former Coinbase Asset Management co-chief investment officer Hugo Jeandesboz as the company's chief investment officer, responsible for treasury strategy, liquidity management, and active management of its XRP holdings. Evernorth also plans to generate additional returns for its XRP holdings through decentralized finance (DeFi) yield strategies.

XRP is currently quoted at about $1.371, with about $1.48 billion in trading volume over the past 24 hours and a market capitalization of about $87.3 billion, ranking fifth on the cryptocurrency market capitalization list.