Digital Asset Treasury (DATs) firms Tron, Bitmine, and Strategy are all down from their mid-2025 highs by double-digit percentages, as analysts claim the hype around crypto treasuries is dwindling. Nasdaq-listed Tron Inc., a toy and souvenir manufacturer that has transitioned into a crypto treasury, has seen its shares collapse by 85% from a June 20 peak of $12.80, according to TradingView data. In September alone, the stock fell 55%, erasing much of the gains that followed its entry into the market.