Several crypto-treasury companies have shifted sizable portions of their holdings into smaller, less liquid tokens, prompting warnings about rising volatility. According to Reuters, firms that previously held major assets like Bitcoin and Ethereum are increasingly diversifying into fringe tokens in search of higher yields a strategy that carries heightened risk due to limited liquidity and extreme price fluctuations. 

Analysts warn that if broader market stress emerges, such concentrated exposure in illiquid tokens could amplify volatility and trigger cascading sell-offs.