Market Signal Briefing

After three years of development, Firedancer went live on Solana mainnet in December 2024, having already produced 50,000 blocks across 100 days of testing on a handful of validators.

The milestone, announced Dec. 12 by Solana's official account, marks more than a performance upgrade. It represents the network's first real attempt to eliminate the architectural bottleneck that has underpinned its most damaging outages: near-total reliance on a single validator client.

Solana has spent years marketing sub-second finality and four-figure transaction-per-second throughput, but speed means little when 70% to 90% of the network's consensus power runs the same software.

A critical bug in that dominant client can halt the entire chain, regardless of how fast it theoretically runs. Ethereum learned this lesson early in its proof-of-stake transition and now treats client diversity as non-negotiable infrastructure hygiene.

Solana is attempting the same shift, but starting from a far more concentrated position.

Firedancer is not a patch or a fork of the existing Rust-based Agave client. It is a ground-up rewrite in C/C++, built by Jump Crypto with a modular, high-frequency-trading-inspired architecture.

The two clients share no code, no language, and no maintenance team. That independence creates a distinct failure domain: a bug in Agave's memory management or transaction scheduler should, in theory, not take down a validator running Firedancer.

For a network that has experienced seven outages in five years, five of them caused by client-side bugs, that separation is the point.

The monoculture problem Solana couldn't outrunSolana's outage history reads as a case study in single-client risk. A June 2022 halt lasted four and a half hours after a bug in the durable-nonce transaction feature caused validators to fall out of sync, requiring a coordinated restart.

Other incidents were traced to memory leaks, excessive duplicate transactions, and race conditions in block production. Helius' analysis of the complete outage history attributes five of seven failures to validator or client bugs, not consensus design flaws.

The throughput the network advertises becomes irrelevant when a single implementation error can freeze block production.

The numbers confirm the exposure. Solana Foundation's June 2025 network health report showed Agave and its Jito-modified variant controlling roughly 92% of staked SOL.

By October 2025, that figure had dropped. However, only modestly: Cherry Servers' staking overview and multiple validator guides reported the Jito-Agave client still held over 70% of the stake, even as the hybrid Frankendancer client grew to about 21% of the network.

Frankendancer uses using Firedancer's networking layer with Agave's consensus backend.

Despite still being a minority, Cherry Servers' data noted that Frankendancer's share grew from roughly 8% in June. Those gains represent steady adoption of a partial solution, but the full Firedancer client arriving on mainnet in December changes the equation.

Validators can now run an entirely independent stack, eliminating the shared dependency that turned past client bugs into network-wide events.

Ethereum's experience provides the reference model.

The Ethereum Foundation's client-diversity documentation warns that any client controlling more than two-thirds of consensus power can unilaterally finalize incorrect blocks. Additionally, a client above one-third can prevent finality entirely if it goes offline or behaves unpredictably.

Ethereum's community treats keeping all clients below 33% as a hard safety requirement, not an optimization. Solana's starting position of one client nearing 90% participation sits far outside that safety zone.

ClientLanguageStatusStake Share (Oct 2025)ValidatorsTrue IndependenceJitoRustMainnet~72%~700+❌ Fork of AgaveFrankendancerC + RustMainnet~21%207✅ Hybrid IndependentAgaveRustMainnet~7%~85✅ OriginalFiredancerCNon-voting mainnet0%0✅ Fully IndependentWhat Firedancer actually changesFiredancer reimplements Solana's validator pipeline with an architecture borrowed from low-latency trading systems: parallel processing tiles, custom networking primitives, and memory management tuned for deterministic performance under load.

Benchmarks from technical conference presentations have shown the client processing 600,000 to over 1,000,000 transactions per second in controlled tests, well above Agave's demonstrated throughput.

But the performance ceiling matters less than the failure-domain separation. The Firedancer documentation and validator setup guides describe the client as modular by design, with distinct components handling networking, consensus participation, and transaction execution.

A memory corruption bug in Agave's Rust allocator would not propagate to Firedancer's C++ codebase. A logic error in Agave's block scheduler would not affect Firedancer's tile-based execution model.

The two clients can fail independently, which means the network can survive a catastrophic bug in either one as long as stake distribution prevents a supermajority from being taken offline simultaneously.

The hybrid Frankendancer deployment served as a staged rollout. Operators replaced Agave's networking and block-production components with Firedancer's equivalents while keeping Agave's consensus and execution layers.

That approach allowed validators to adopt Firedancer's performance improvements without risking the entire network on untested consensus code.

The 21% stake Frankendancer captured by October validated the hybrid model but also highlighted its limit: as long as all validators still relied on Agave for consensus, a bug in that shared layer could still stall the chain.

The December mainnet launch of the full client removes that shared dependency.

The handful of validators that ran Firedancer for 100 days and produced 50,000 blocks demonstrated that the client can participate in consensus, produce valid blocks, and maintain state without relying on any Agave components.

The production track record is narrow, 100 days on a few nodes, but sufficient to open the door for broader adoption. Validators now have a genuine alternative, and the network's resilience scales directly with how many choose to migrate.

Why institutions care about validator softwareThe link between client diversity and institutional adoption is not speculative.

Levex's Firedancer explainer argued that the client “addresses key concerns institutional investors have raised about Solana's reliability and scalability” and that multi-client redundancy “provides the robustness that enterprises require for critical applications.”

A September Binance Square essay on Solana's institutional readiness frames past outages as the primary obstacle to enterprise engagement and positions Firedancer as “the potential cure.”

The analysis argues that reliability is “the key differentiator” in Solana's competition with Ethereum and other layer-1 networks, and that removing single-client risk “could remove Solana's biggest weakness” in pitches to institutions that cannot tolerate network-level downtime.

The logic mirrors the framework established for Ethereum's client-diversity campaign.

Institutional risk teams evaluating blockchain infrastructure want to know what happens when something breaks.

A network where 90% of validators run the same client has a single point of failure, regardless of how decentralized its token distribution or validator set appears on paper.

A network in which no client controls more than 33% of the stake can lose an entire client to a catastrophic bug and continue operating. That difference is binary for risk managers deciding whether to build regulated products on a given chain.

Solana's approximately $767 million in tokenized real-world assets represents a foothold, not adoption at scale. Ethereum hosts $12.5 billion in tokenized Treasuries, stablecoins, and tokenized funds, according to rwa.xyz data.

The gap reflects not just network effects or developer mindshare, but trust in uptime.

Firedancer's mainnet arrival gives Solana a path to close that gap by meeting the same client-diversity threshold Ethereum's community treats as table stakes for production infrastructure.

The adoption curve aheadThe transition from 70% Agave dominance to a balanced multi-client network will not happen quickly. Validators face switching costs: Firedancer requires different hardware tuning, different operational runbooks, and different performance characteristics than Agave.

The client's 100-day production track record, while successful, is shallow compared to Agave's years of mainnet operation. Risk-averse operators will wait for more data before migrating stake.

Nevertheless, the incentive structure now favors diversification. Solana Foundation's validator health reports publicly track client distribution, creating reputational pressure on large operators to avoid concentrated positions in any single implementation.

The network's history of outages provides a visceral reminder of the downside. And the institutional adoption narrative, with ETF speculation, RWA issuance, and enterprise payment pilots, depends on demonstrating that Solana has moved beyond its reliability problems.

The architecture is now in place. Solana has two production clients, in different languages, with independent codebases and separate failure modes. The network's resilience depends on how quickly stake migrates from the monoculture it started with to a distribution where no single client can take the chain offline.

For institutions evaluating whether Solana can function as production infrastructure and has a realistic path to surviving its next client bug without a coordinated restart.

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It looks like Michael Saylor's Strategy is lining up a fresh bitcoin purchase announcement for Monday morning, after dropping a not-so-subtle hint on X on Sunday. The bitcoin treasury giant already sits on a hefty 660,624 BTC, and all signs suggest this train has no plans to hit the brakes.

Pudgy Penguins, an NFT project that has garnered significant attention in the digital asset space, will showcase its animated segments on the Las Vegas Sphere throughout Christmas week. This marks a pivotal effort by the crypto company to break into mainstream consumer markets with a distinctive real-world presence.

Pudgy Penguins, an NFT collection known for its adorable cartoon penguins, has decided to capitalize on the holiday season to extend its brand beyond the digital realm. Starting from December 20th, the Las Vegas Sphere will feature animated clips of the penguins, highlighting the NFT’s charm and appeal. This initiative is not just about visibility; it also represents a strategic leap into the broader consumer market, a space traditionally dominated by more conventional brands.

The Las Vegas Sphere, a state-of-the-art entertainment venue and one of the city’s most recognized landmarks, offers a 360-degree projection surface that can display stunning visuals, making it an ideal location for such an ambitious campaign. By choosing this platform, Pudgy Penguins aims to capture the attention of both NFT enthusiasts and the general public, drawing a connection between digital assets and everyday entertainment.

The decision to showcase Pudgy Penguins on such a prominent platform underscores a broader trend within the NFT industry, where projects are increasingly seeking to blend digital experiences with physical engagement. This trend is partly driven by the need to reach new audiences who may not be familiar with NFTs but are open to innovative entertainment experiences. According to industry analysts, this kind of crossover can enhance brand recognition and legitimize NFTs in the eyes of skeptics.

Historically, NFTs have been seen as niche products, often misunderstood by mainstream consumers. However, the market for digital collectibles has matured significantly over recent years. Reports show that the NFT market size hit billions in sales, with artists, musicians, and brands jumping on the bandwagon to explore new revenue streams. Pudgy Penguins, along with other NFT projects, is now working to bridge the gap between digital ownership and real-world relevance.

The Las Vegas Sphere campaign is expected to not only boost the visibility of Pudgy Penguins but also elevate the profile of NFTs as a whole. By positioning itself in such a high-traffic location during a period known for consumer spending, Pudgy Penguins is betting on increased engagement and potential sales growth. The campaign could serve as a blueprint for other NFT projects looking to make similar forays into physical spaces.

However, the endeavor is not without risks. The crypto and NFT markets are notoriously volatile, with values subject to rapid fluctuations based on market sentiment. A decline in cryptocurrency prices, for instance, could dampen investor enthusiasm and affect the perceived value of NFTs. Additionally, the general public’s understanding and acceptance of NFTs remain inconsistent, which could limit the campaign’s impact on mainstream audiences.

Despite these challenges, Pudgy Penguins is optimistic about the potential benefits of their campaign. The company believes that integrating NFTs into real-world experiences will not only enhance their brand but also contribute to the broader acceptance of digital collectibles. The Las Vegas Sphere, with its cutting-edge technology and high profile, provides a unique opportunity to showcase how digital assets can be creatively incorporated into physical environments.

In the context of recent policy developments, Pudgy Penguins’ strategy aligns with growing interest in digital assets from regulators and institutions worldwide. As governments and financial bodies explore ways to integrate digital currencies and NFTs into existing frameworks, initiatives like Pudgy Penguins’ campaign could play a role in shaping future discussions and policies.

Comparatively, other industries have successfully navigated similar transitions from digital to physical markets. The gaming sector, for example, has long utilized digital content to enhance physical experiences, thereby creating immersive environments that attract diverse demographics. Similarly, Pudgy Penguins aims to transform the perception of NFTs from mere digital art to dynamic entities that interact with the physical world.

As Pudgy Penguins prepares for its Las Vegas debut, the team is hopeful that this campaign will create lasting impressions and foster new opportunities for growth. They are committed to pushing the boundaries of what NFTs can achieve, focusing on creating meaningful connections between their digital offerings and tangible consumer experiences.

In conclusion, Pudgy Penguins’ initiative at the Las Vegas Sphere signals a new chapter for NFTs, highlighting their potential to engage with wider audiences in innovative ways. While challenges remain, such endeavors could pave the way for a more integrated approach to digital and physical entertainment, setting the stage for future developments in the NFT space. As the industry continues to evolve, it will be intriguing to see how companies like Pudgy Penguins navigate this complex landscape and what impact their efforts will have on the broader market dynamics.

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Cardano Price Today: First Look at the Chart StructureCardano is currently trading just above the $0.40–$0.42 zone, a level that has repeatedly acted as long-term structural support. Before jumping into predictions, the first thing that stands out on the ADA chart is how clean and respected this level has been historically.

Every major cycle low over the past year has found buyers in this area — but just as importantly, rebounds from this zone have been weaker and shorter-lived over time. That already tells us something about the current market stance.

ADA Technical Analysis: Support Is Holding, Momentum Is Not ConvincingFrom a technical perspective, Cardano is not in free fall — but it’s also not showing strength.

By TradingView - ADAUSD_2025-12-14 (1Y)Key observations from the ADA chart:

$0.40–$0.42 remains key horizontal supportLower highs since the mid-year peak signal fading bullish momentumNo confirmed trend reversal pattern yetStochastic oscillator is bouncing from lower levels, but without follow-throughThis type of price action usually reflects distribution, not accumulation. Buyers are defending support, but they are not stepping in aggressively enough to flip the trend.

Cardano Price Prediction: Realistic ScenariosBullish ScenarioADA holds above $0.40Breaks back above $0.48–$0.50Target zone: $0.58–$0.62This would require broader market strength — not just Cardano-specific momentum.

Neutral ScenarioContinued range between $0.40 and $0.50Choppy price action into the next market catalystBearish ScenarioDaily close below $0.40Loss of structural supportDownside targets: $0.35–$0.32Until ADA reclaims $0.50 with volume, upside expectations should remain conservative.

Zooming Out: What the Total Crypto Market Is Telling UsLooking at the TOTAL crypto market cap, the broader context becomes clearer.

By TradingView - TOTAL_2025-12-14The market recently pulled back from above $4 trillion and is now hovering around the $3.0–$3.1 trillion zone, sitting just above a major support level near $2.8 trillion.

Important signals from the TOTAL chart:

Clear lower highs since the October peakMarket structure still corrective, not impulsiveStochastic momentum cooling after multiple failed ralliesBuyers defending support, but risk appetite is fadingThis environment typically favors Bitcoin and large caps, while altcoins like ADA struggle to attract sustained inflows.

Why ADA Is Struggling in This Market PhaseCardano tends to underperform when:

Liquidity rotates back to BitcoinThe market enters a risk-off or consolidation phaseSpeculative capital dries upThat is exactly the setup we’re seeing now.

Without a broader crypto market breakout above $3.3–$3.4 trillion, expecting Cardano to lead a strong rally is unrealistic.

Final Thoughts: ADA Is at a Decision PointCardano is sitting at a make-or-break level. The support is real, but so is the lack of momentum.

As long as the total crypto market remains capped and ADA fails to reclaim $0.50, patience beats prediction. A base may be forming — but it has not been confirmed yet.

For now, ADA is reacting to the market, not leading it.

$ADA, $BTC

Markets are bracing for a potentially pivotal week for Bitcoin as the Bank of Japan (BOJ) heads into its December 18–19 policy meeting. Expectations point to a near-certain rate hike.

Prediction markets and macro analysts alike are converging on the same conclusion: Japan is poised to raise rates by 25 basis points. Such a move could reverberate far beyond its domestic bond market and into global risk assets, especially Bitcoin.

Bank of Japan Rate Hike Puts Bitcoin’s Liquidity Sensitivity Back in FocusPolymarket is currently assigning a 98% probability of a BOJ hike, with a measly 2% wagering that policymakers will hold interest rates steady.

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BOJ Interest Rate Probabilities. Source: PolymarketThe general sentiment among crypto analysts is that this is not good for Bitcoin, with the pioneer crypto already trading below the $90,000 psychological level.

If implemented, the move would take Japan’s policy rate to 75 basis points, a level not seen in nearly two decades. While modest by global standards, the shift is significant because Japan has long been the world’s primary source of inexpensive leverage.

For decades, institutions borrowed yen at ultra-low rates and deployed that capital into global equities, bonds, and crypto, a strategy known as the yen carry trade. That trade is now under threat.

“For decades, the Yen has been the #1 currency people would borrow & convert into other currencies & assets… That carry trade is diminishing now, as Japanese bond yields are rising rapidly,” wrote analyst Mister Crypto.

If yields continue to climb, leveraged positions funded in yen may be unwound, forcing investors to sell risk assets to repay debt.

Liquidity Fears Grow Amid Bitcoin’s BOJ Track RecordThe historical backdrop is fueling anxiety in crypto markets. Bitcoin is currently trading at $88,956, down 1.16% in the last 24 hours.

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Bitcoin (BTC) Price Performance. Source: BeInCryptoHowever, traders are focused less on the current price and more on what has happened after previous BOJ hikes.

In March 2024, the price of Bitcoin fell by roughly 23%.
In July 2024, it dropped around 25%.
 Following the January 2025 hike, BTC slid more than 30%.
Against this backdrop, several traders see a troubling pattern, urging investors to brace for volatility this week.

“Every time Japan hikes rates, Bitcoin dumps 20–25%. Next week, they will hike rates to 75 bps again. If the pattern holds, BTC will dump below $70,000 on December 19. Position accordingly,” cautioned analyst 0xNobler.

This week, therefore, analysts see the Bank of Japan as the biggest threat to the Bitcoin price, with a play to $70,000 now in the cards.

THE BANK OF JAPAN MIGHT BE BITCOIN’S BIGGEST ENEMY

Japan holds the most US debt.
Every time they hike, Bitcoin bleeds:

March 2024: -23%
July 2024: -30%
Jan 2025: -31%

Next hike: Dec 19
Next move: loading…

If the pattern repeats, $70K is in play. pic.twitter.com/R5916R702I

— Merlijn The Trader (@MerlijnTrader) December 14, 2025
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Similar projections have been echoed across crypto-focused accounts, with repeated references to a potential drop below $70,000 if history rhymes. Such a move would constitute a 20% drop below current levels.

Bitcoin (BTC) Price Performance. Source: TradingViewRegime Shift or Liquidity Shock? Why Traders Are Split on the BOJ–Fed Policy MixYet not everyone agrees that a BOJ hike spells inevitable downside. A competing macro narrative argues that Japan’s tightening, when paired with US Federal Reserve rate cuts, could ultimately be bullish for the crypto market.

Macro analyst Quantum Ascend framed the situation as a regime shift rather than a liquidity shock.

Japan raising rates has a lot of people worried about the potential impact on the market. 🚨

Couple that with the Fed cutting rates, and it's seemingly a mixed picture.

But it's NOT.

This is EXTREMELY BULLISH for crypto‼️

Here's why ⬇️

— Quantum Ascend (@quantum_ascend) December 13, 2025
According to this view, Fed cuts would inject dollar liquidity and weaken the USD, while gradual BOJ hikes would strengthen the yen without meaningfully destroying global liquidity.

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The result, Quantum Ascend argues, is capital rotation into risk assets with asymmetric upside, crypto’s “sweet spot.”

Still, near-term conditions remain fragile. The Great Martis cautioned that bond markets are already forcing the BOJ’s hand.

“This could trigger the carry trade unwind and cause havoc in equities,” the analyst warned.

The analyst also pointed to broadening tops in major stock indices and globally rising yields as signs of mounting stress.

Meanwhile, Bitcoin’s price action reflects the uncertainty. The pioneer crypto’s price has been largely flat through December, marking what analysts call a very choppy period into the end of the year.

Specifically, analyst Daan Crypto Trades cites low liquidity and limited conviction ahead of year-end holidays.

With equities flashing topping signals, yields breaking higher, and Bitcoin historically sensitive to Japan-driven liquidity shifts, the BOJ’s decision is shaping up to be one of the most consequential macro catalysts of the year.

Whether it triggers another sharp drawdown or sets the stage for a post-volatility crypto rally may depend less on the hike itself and more on how global liquidity responds in the weeks that follow.

Cardano has made a significant integration this week that fundamentally alters its approach to market infrastructure.

Under the network’s newly operational Pentad and Intersect governance structure, the steering committee authorized the implementation of Pyth Network’s low-latency oracle stack.

While the decision may appear to be a routine technical upgrade on the surface, it represents a profound shift in philosophy for a blockchain that has historically prioritized academic rigor and self-sufficiency over commercial speed.

The integration is the first major deliverable under the “Critical Integrations” workstream, a strategic initiative designed to modernize the network’s capabilities ahead of 2026.

The move signals that Cardano is effectively abandoning the strategy of building isolated, native solutions for every problem in favor of competing directly for the sophisticated DeFi flows currently dominated by Solana and Ethereum Layer-2s.

Charles Hoskinson, the network’s founder, hailed the pivot during his livestream, saying:

“We’ve tried to build an indigenous oracle solution, and it hasn’t worked out as well as it should, and that’s all right…Oracles are really the first part of major integrations. You have to be able to communicate with other chains and other systems and you have to be able to bring data from the outside world into Cardano.”

The Structural ShiftTo understand the magnitude of this change, one must look past the marketing and into the mechanics of market structure.

For years, Cardano’s decentralized finance (DeFi) ecosystem has relied primarily on “push” oracles. In this traditional model, data providers publish price updates on a fixed schedule, often at intervals of minutes or when price deviation exceeds a certain threshold.

While functional for simple spot swaps, this architecture is catastrophic for high-leverage derivatives. If the price of Bitcoin collapses by 5% in 30 seconds, a push oracle operating on a 1-minute heartbeat leaves lending protocols unknowingly under-collateralized, creating toxic debt that the protocol cannot liquidate in time.

Pyth introduces a “pull” model that fundamentally inverts this relationship.

Instead of passively waiting for a data provider to push an update, Cardano smart contracts can now actively “pull” the freshest signed price from Pyth’s high-frequency sidechain, Pythnet, at the exact moment a transaction is executed. These prices update roughly every 400 milliseconds.

For Cardano developers, this widens the design space considerably. The network’s eUTXO (Extended Unspent Transaction Output) architecture is uniquely suited to this model when paired with reference inputs, allowing multiple transactions to read the same high-fidelity data point simultaneously without congestion.

This capability is the prerequisite for building the “holy grail” of modern DeFi: order-book-based perpetual futures, dynamic loan-to-value lending markets, and complex options vaults.

By collapsing the latency gap, Cardano can now theoretically support the same risk engines that power high-frequency trading on Wall Street, moving from “DeFi primitive” to “institutional grade.”

Connecting to a Federal data pipelineMeanwhile, the integration does more than speed up plumbing as it introduces a new level of data diversity that has previously eluded the ecosystem.

Pyth operates across 113 blockchains, serving as a distribution layer for first-party data. Unlike aggregators that scrape prices from public websites (a method prone to manipulation), Pyth’s feeds originate directly from trading firms, exchanges, and market makers who sign their own data.

Pyth Network Key Metrics (Source: Pyth)Hoskinson specifically highlighted the institutional weight of this connection, noting that the US Department of Commerce selected Pyth, alongside Chainlink, to assist in verifying and distributing official macroeconomic data on-chain.

He noted:

“Pyth now has access to the United States government’s data as well, and soon, [so will] every single person in the Cardano ecosystem.”

For a blockchain that has long positioned itself as a regulatory-friendly platform for nation-states and enterprise, having direct access to government-validated economic indicators is a powerful narrative tool for attracting Real World Asset (RWA) issuers.

It allows builders to design structured products that were previously impossible—think of a stablecoin vault that hedges its exposure using real-time Euro/USD forex rates, or a synthetic asset tracking the S&P 500 with sub-second accuracy.

The liquidity disconnect and future roadmapHowever, sophisticated plumbing does not automatically generate liquidity, and this remains the central tension in the Cardano narrative. While the Pyth integration provides the engine for a Ferrari, the current market depth resembles a go-kart track.

A critical examination of the on-chain data reveals a stark disconnect between the new infrastructure’s capabilities and the capital available to use it. As of Dec. 12, data from the analytics platform DefiLlama shows that Cardano has less than $40 million in stablecoin liquidity.

To put that figure in perspective, it is a fraction of the billions of capital available to competitors like Ethereum.

Hoskinson addressed this implicitly, describing Pyth as “just the appetizer” in a broader menu of upgrades that includes “bridges, stablecoins, and custodial providers.”

He hinted that the network is preparing for “multi-billion TVL,” which would, in turn, lead to significant trading volume on the network. Hoskinson added:

“We’re getting ready for the next few million users. We’re getting ready for multi-billion TVL. We’re getting ready for a lot of MAUs and a lot of transactions. And we now have a lot of competitive differentiators.”

However, for those numbers to arrive, that stablecoin number must move from millions to billions. The Pyth integration is a necessary condition for this growth, but it is insufficient on its own.

Essentially, the network is betting that if it builds the “basement and foundation” first—as Hoskinson put it—the liquidity will follow.

Governance speedMeanwhile, the most bullish signal to emerge from this Pyth integration is not technical, but organizational.

The speed at which the Pyth proposal moved through the new Pentad and Intersect governance model suggests that Cardano has solved its most persistent bottleneck: bureaucracy.

For years, the network’s slow, methodological approach was cited as a reason for its lag in DeFi adoption.

The ability of the Pentad—a coalition representing the Cardano Foundation, Input Output, EMURGO, Midnight, and Intersect—to identify a market standard like Pyth and fund its integration quickly indicates that the new governance structure is functioning as an effective executive branch.

Hoskinson explained:

“The great part about the Pentad structure is we can all speak with one voice.”

This “governance alpha” matters because Pyth is likely just the first of several necessary upgrades. Hoskinson teased further announcements regarding “the good stablecoins” and custodial partnerships, framing the current moment as laying the groundwork for a massive scaling event in 2026.

He concluded:

“Cardano is not an island anymore. The cavalry has come.”

The integration proves that Cardano can change its mind and its infrastructure to meet market demands. The plumbing is now fixed. The question for 2026 is whether the “cavalry” Hoskinson mentions will bring the capital required to fill the pipes.

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XRP's slump has failed to deter whales, who are actively buying as taker CVD turns positive.

Ripple (XRP) traded in a choppy range over the past week. It started near $2.06 before slipping lower and then briefly climbing above $2.15 around December 10. The token underwent a minor drawdown the very next day before stabilizing and is currently trading at $2.04.

Despite the pullback, a new analysis revealed that whales appear to be snapping up Ripple tokens.

Massive Whale Moves
XRP is seeing increased activity from large holders even as the token trades near its lowest level of the year, according to on-chain data firm CryptoQuant. The firm said whale accounts continue to dominate XRP trading during the recent price decline, a pattern it associates with bottoming phases.

CryptoQuant explained that whales tend to accumulate before potential recoveries rather than during uptrends. It added that XRP’s Spot Taker Cumulative Volume Delta has turned buyer-dominant in recent sessions, which indicates rising purchasing interest.

Additionally, XRP is showing signs of major activity on South Korean exchanges, where the token has long held a strong trading presence. Upbit, which happens to be one of the largest holders and busiest markets for XRP, is seeing its first meaningful increase in XRP withdrawals since 2023. The uptick comes as the asset recently posted a short-term price decline, and outflows from Upbit have begun to form a broader trend.

While small withdrawals still dominate, CryptoQuant said the pattern points to an emerging shift in the crypto asset’s market behaviour.

Targets For XRP
Crypto analyst CasiTrades said XRP continues to defend its macro 0.5 Fibonacci support near $2.03, with the token undergoing another critical test of that level. As long as $1.97 holds, a deeper retracement is not confirmed. According to her analysis, the macro resistance remains at $2.41, which, if broken, could trigger a bullish scenario with targets near $2.75 and $2.90.

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On the other hand, if the $1.97 support fails, the crypto asset could move toward $1.64.

Developments like Hex Trust’s launch of wXRP could support XRP’s price by expanding its accessibility across multiple blockchains, including Ethereum, Solana, and Optimism. By enabling cross-chain trading, DeFi participation, and integration with Ripple’s stablecoin RLUSD, wXRP may attract more retail, institutional, and liquidity provider activity.

The initial $100 million in total value locked could help stabilize pricing and reduce slippage, while the regulated, insured custody framework adds confidence for large investors. Increased utility, easier cross-chain transfers, and improved market infrastructure could collectively boost demand for XRP, and potentially end up supporting upward price momentum over time.

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Prysm developers released a post-mortem analysis explaining the December 4 Fusaka mainnet incident that threatened Ethereum network stability.

Summary

A Prysm bug after Fusaka caused validator participation to drop to 75%.
The network missed 41 epochs and lost roughly 382 ETH in proof rewards.
Ethereum avoided finality loss thanks to client diversity and rapid fixes.

The consensus client suffered resource exhaustion from expensive state recomputation when processing specific attestations, causing validators to face severe operational problems.

The bug surfaced immediately after Fusaka activated at epoch 411392 on December 4, 2025, at 21:49 UTC.

The network missed 41 epochs as validator participation plummeted to 75%, resulting in approximately 382 Ethereum (ETH) in lost proof rewards. Prysm developers deployed emergency runtime flags before implementing permanent fixes in versions v7.0.1 and v7.1.0.

Resource exhaustion pushed network toward finality loss
The technical failure centered on obsolete historical states that created denial-of-service conditions on affected nodes.

Prysm core developer Terence Tsao explained that “historical state is compute memory heavy, a node can be dosed by large number of state replays happening in parallel.”

Validators running Prysm, which represented roughly 15% to 22.71% of network validators, faced crippling performance degradation. The participation drop from normal levels above 95% to 75% pushed Ethereum dangerously close to losing finality.

Had the bug affected a different consensus client like Lighthouse instead of Prysm, the network could have lost finality entirely.

Such an event would potentially freeze Layer 2 rollup operations and block validator withdrawals until developers resolved the issue.

The Fusaka upgrade itself introduced PeerDAS (Peer Data Availability Sampling) technology designed to increase blob capacity eightfold for Layer 2 scaling.

The upgrade executed successfully with zero downtime before the Prysm bug surfaced.

Ten consensus clients prevented Ethereum network collapse
Ethereum’s client diversity architecture prevented catastrophic failure. While Prysm validators struggled, ten other consensus clients including Lighthouse, Nimbus, and Teku continued validating blocks without interruption.

The decentralized client structure meant that roughly 75% to 85% of validators maintained normal operations throughout the crisis. This prevented finality loss and kept the network processing transactions despite Prysm’s degraded state.

The Ethereum Foundation quickly issued emergency guidance for Prysm operators. Validators applied the temporary fix while Prysm developers built permanent solutions.

By December 5, network participation recovered to nearly 99%, restoring normal operations within 24 hours of the incident.

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Bitcoin is under renewed pressure as markets price in a near-certain Bank of Japan (BOJ) rate hike next week. Traders now expect Japan to raise rates to 0.75%, tightening global liquidity conditions and negatively impacting risk assets.

Is Bitcoin Priced for BOJ Rate Hike?
A Bloomberg chart shared by analyst Ted Pillows show more than a 90% probability of a 25-basis point hike at the December 18–19 meeting. That expectation has surged after comments from Bank of Japan policymakers as highlighted by Reuters.

The probability of the BOJ doing a 25 bps rate hike next week is 91.4%

It seems like a rate hike is imminent now. pic.twitter.com/elfZ5Kiu4l

— Ted (@TedPillows) December 14, 2025

An analyst has predicted that Bitcoin may trade around the $70,000 area. Past Bank of Japan hikes have coincided with 20% to 25% Bitcoin drawdowns. The theory centers on the yen carry trade.

When Japan raises rates, borrowing yen becomes more expensive. Hence, investors often sell riskier assets, including cryptocurrencies. However, long term investors will keep on buying even during volatility. For instance, Michael Saylor has signaled more Bitcoin purchases for Strategy despite extreme fear in market sentiment.

Still, market data suggests that the increase is already reflected in current market expectations. Polymarket odds that the increase will be 25 basis points in December is currently 98%. But expectations of bigger increases are low.

Will Bitcoin Fall Below $80K This Year?
Also, prediction market data shows traders are increasingly preparing for deeper downside. Kalshi contracts now place a 28% chance that Bitcoin falls below $80,000 before year-end.

BTC price is $88,805 on CoinMarketCap. Sentiment is still weak since crypto prices are being influenced by macro-economic events.

Another important factor is the increase in rates by the Bank of Japan. The result of the meeting is expected to establish the trend for Bitcoin price till the end of the year.

This week in the crypto market, investor patience was tested.

Despite the rate cut, Bitcoin [BTC] moved decently. Ethereum [ETH] showed a stronger recovery, hinting at early signs of an altcoin season. Among this, a few altcoins topped the charts with massive double-digit gains.

MemeCore [M] — Meme-focused L1 led gains with a solid rebound
MemeCore [M] topped the weekly charts with a 42% bounce. The structure is flashing early FOMO signals, with M printing its first green weekly candle after three straight red weeks, following a brutal 60% drawdown.

Zooming in, this run has pushed price back toward its late-November range, which naturally raises questions about follow-through. A near-50% weekly move can be heavy, especially if momentum cools.

That said, the technicals aren’t stretched yet. Weekly RSI is sitting near 60, suggesting the move hasn’t gone overbought. If momentum holds, M could be setting up for a pushback toward the $2 level.

Source: TradingView (M/USDT)

However, bears are creeping back in. After a 6.97% intraday dip, sellers appear to be leaning hard on the $1.90–$2.00 overhead supply zone, marking a key resistance M hasn’t flipped since late November.

If bulls play this right and hold the line, a short squeeze could be back on the menu, with a clean $2 breakout in sight. If not, rejection here likely sends price back to retest lower support as momentum fades.

Merlin Chain [MERL] — Bitcoin L2 needs a resistance break to extend gains
Merlin Chain [MERL] was the second-biggest weekly gainer, ripping 33% off the $0.35 open. The weekly chart is flashing a textbook consolidation-to-breakout setup after an eight-week sideways chop.

Backing the move, on-chain data looks solid. As AMBCrypto noted, MERL’s double-digit gains are supported by a growing HODLer base, showing early FOMO signals. In this setup, momentum still looks constructive.

That said, the $0.50 resistance is the key level to watch. 

A clean break above it is crucial for continuation. With fundamentals lining up, a bear trap around resistance looks increasingly likely. Overall, MERL shapes up as a strong short-term momentum play if bulls follow through.

Zcash [ZEC] — Privacy token is still searching for a bottom 
Weekly losers
Story [IP] — Layer-1 token erased all of its previous weekly gains
Story [IP] led this week’s losers, sliding 10%. In a risk-off tape, that kind of drop usually looks manageable, especially with L1s broadly seeing on-chain flows dry up.

But IP’s chart tells a rougher story. The weekly structure is firmly bearish, printing its seventh straight red candle since breaking below $6 in mid-October, showing clear signs of capitulation.

From here, a sweep of the $1 level is very much on the table.

Source: TradingView (IP/USDT)

From the technical perspective, the RSI sat at around 38, not deeply oversold yet, which suggests there’s still room for downside. With the bears in control, it’s hard to see the bulls mounting a meaningful defense for now.

Jupiter [JUP] — Solana-based DEX failed to hold key support levels
Jupiter [JUP] ranked as the second-biggest weekly loser, dropping 9.17% from its $0.22 open. Like IP, JUP is seeing persistent outflows and is now down roughly 50% from its late-November high at $0.44.

So, is sell-side pressure easing? Not really. The weekly chart still shows a bear-controlled structure, with bulls repeatedly failing to defend key support—signaling sellers are still leaning in.

Even after a short 4% bounce in late November, bulls couldn’t flip $0.25 into support. That rejection pushed price lower, and in this setup, JUP remains at high risk of breaking below $0.20 next if bears stay in control.

The Graph [GRT] — Data protocol shows clear bear control
The Graph [GRT] took third place among weekly losers, slipping 9%. While GRT and JUP are both stuck under bearish pressure and struggling to hold support, GRT’s chart still looks a bit more constructive.

Since Q3, bulls have made two clear base attempts. The first around $0.08, then near $0.07. Each time, bears slapped price back down, dragging GRT deeper into correction.

That said, unlike JUP, buyers are still defending dips, giving GRT a slight edge. If this holds, a phase of heavier accumulation could be next. For now, volume is the key tell to watch.

Other notable losers
In the broader market, downside volatility hit hard.

Legacy Token [LGTC] led the losers with a steep 66% drop, followed by OKZOO [AIOT] falling 64%, and Pieverse [PIEVERSE] slipping 52% as momentum sharply cooled.

Conclusion
This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart.

Final Thoughts

 MemeCore [M], Merlin Chain [MERL], Zcash [ZEC] led the week in gains.
Story [IP], Jupiter [JUP], The Graph [GRT] saw significant declines.

HBAR is running out of time. The token is down nearly 2% over the past 24 hours and close to 10% for the week. In the process, HBAR price has broken several short-term support levels and is now hovering near $0.12.

This level is critical. HBAR is barely 1% above a breakdown zone that could drag the price toward $0.10. That move would translate into a 12% to 13% decline from current levels. But one bullish signal is still holding the structure together. If it fails, the downside could accelerate.

Sponsored

Big Money Stepping Away Weakens the SetupThe main source of pressure comes from how large HBAR holders are behaving.

This is visible through the Chaikin Money Flow (CMF), which tracks whether big money is entering or exiting an asset by combining price movement with trading volume. When CMF is above zero, large buyers are active. When it falls below zero, the distribution is taking place.

For HBAR, CMF has deteriorated sharply. Since December 7, CMF has dropped by more than 400% and moved deep into negative territory. Earlier pullbacks still saw CMF stay positive, meaning buyers absorbed selling pressure. This time, that support is gone.

Big Money Dumping HBAR: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

There is also a clear bearish divergence. Between October 10 and December 14, the HBAR price formed higher lows, while the CMF formed lower lows. This shows that recent price stability was not backed by strong demand from large players.

Sponsored

In simple terms, price tried to hold up while big money quietly exited. That imbalance makes the HBAR price vulnerable.

One Bullish Signal Is Still Holding the FloorDespite the weak big-money picture, one momentum indicator is still flashing a bullish sign.

That indicator is the Relative Strength Index (RSI), which measures the strength and speed of recent price moves. It helps identify when selling pressure may be getting exhausted. Readings near 30 usually suggest oversold conditions.

On HBAR’s daily chart, RSI has formed a bullish divergence. Between November 21 and December 14, the HBAR price made a lower low, while the RSI made a higher low. This is a classic bullish divergence and often appears as a trend reversal sign.

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P.S. The HBAR price is in a clear downtrend, losing over 48% in the 3-month horizon.

Bullish Divergence In Play: TradingViewThis tells us sellers are still pushing prices lower, but with less force each time. The decline continues, but the seller-driven momentum behind it is weakening. At the moment, this RSI divergence is the only bullish play HBAR has left.

HBAR Price Breaks Down or Turns the Tide?Price action defines the final outcome. HBAR is trading below a descending trend line that has capped every rally for weeks. At the same time, price is sitting on a trend-based Fibonacci support near $0.12. That line acts as the base of the descending triangle pattern, completed by the descending trendline.

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This zone is the last line of defense.

If $0.12 breaks decisively, the next major support sits near $0.10. That move would confirm a 12% to 13% breakdown and extend the bearish trend.

HBAR Price Analysis: TradingViewTo stabilize, the HBAR price must reclaim $0.13. That level lines up with a key Fibonacci retracement zone and would signal buyers stepping back in.

A stronger shift would only come above $0.13. That would place the price back above the descending trend line and reset the structure from bearish to neutral.

contributor

Posted: December 15, 2025

Growth in fundamentals often underpins long-term market moves, and SEI showed clear signs of that dynamic building beneath the surface.

On the 4-hour timeframe, SEI continued to trade in the lower portion of its broader range, capped below the EMA ribbon and unable to reclaim short-term trend control.

This positioning kept risk elevated, with downside exposure remaining open toward the weak low around $0.1216 if support gives way.

Source: TradingView

Sei Network’s [SEI] price compression at lower ranges reflected hesitation rather than abandonment, keeping the token locked in a tight consolidation while participation expanded elsewhere in the market.

DEX surges as price remains compressed
SEI’s on-chain footprint expanded sharply despite muted price action. DEX volume climbed beyond $400M in just two weeks, highlighting a clear rise in user activity and transaction flow at range lows.

Source: DefiLlama

That divergence matters. Strong on-chain engagement during price stagnation often signals positioning ahead of volatility rather than distribution, especially when it appears near long-term range support.

Perps’ positioning explodes beneath the surface
Derivatives markets echoed the same theme. SEI perp volume surged 19,527% over the past 90 days, pointing to aggressive positioning while spot price remained capped under the EMA ribbon.

Source: X

This buildup suggested traders increasingly focused on forward exposure rather than reacting to current price weakness.

Historically, sharp perp expansion during compression phases tends to precede directional resolution, not prolonged drift.

Is SEI building pressure for a breakout?
Structurally, SEI remained coiled between clearly defined risk and mapped upside. A breakdown below $0.1216 would expose the weak low, but a successful EMA ribbon reclaim would shift momentum decisively.

A breakout from the current range would place the $0.18–$0.20 supply zones back into focus. 

Source: X

According to the chart above, SEI’s chart closely mirrors Binance Coin’s [BNB] base before its 2024 expansion.

A decisive break above the $0.20 zone is key, with a clean clearance opening the door to a broader upside move that could extend toward the $1.5 region if momentum follows through.

Final Thoughts

A downside risk stays clearly defined below $0.1216 while price holds the lower range.
A sustained EMA reclaim opens the path toward the $0.18–$0.20 supply zone.

Whether or not Netflix’s $82.6 billion acquisition of Warner Bros. goes through, the deal encapsulates a fraught moment for Hollywood, as the entertainment business is increasingly overshadowed by tech giants.

On the latest episode of the Equity podcast, Kirsten Korosec and I discussed the deal’s implications, both for Netflix and the larger Hollywood ecosystem. Kirsten noted that it’s just the latest move bringing more consolidation to the media business, and she wondered whether it’s “too big a risk” for Netflix.

Meanwhile, I discussed a call with Netflix executives where Wall Street analysts also seemed to be struggling to wrap their heads around the deal. And then of course there’s Paramount’s competing hostile bid — whatever happens, Warner Bros.’ days as a standalone company seem to be numbered.

You can read an edited preview of our conversation below.

Kirsten: I remember when Netflix was just a little baby startup and I got their [DVDs] in the mail. Here they are, all grown up, bidding for a legacy company. Did that run through your head when you saw the news?

Anthony: Certainly symbolically, it’s this moment where the upstart has eaten Hollywood. There’ve been all these articles, even before this deal, saying, “Netflix is eating Hollywood, Netflix is transforming Hollywood.” Regardless of whether or not this deal ends up going through, Netflix will have transformed Hollywood, but this seems like the biggest — both symbolically but also substantively — one of the most dramatic things that can happen. 

Then there are all these other questions about: Will Netflix get regulatory approval? Will Paramount’s hostile bid succeed?

Techcrunch event

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What jumped out to you is you were catching up on it, Kirsten?

Kirsten: Well, the first thing was I was like, can there be any more consolidation in this market? I mean, that was the big one for me, because if memory serves, Warner Bros. already went through like this consolidation with Discovery, right? So here we are again. There’s been so much consolidation that I have lost track of all of that.

But the second thought was what I immediately thought, what I kicked [off our discussion] with, which is really thinking about how Netflix [has grown], and there have been these dips in the road along its way, where the headlines have been about how it’s struggling, and will it remain relevant, and how can it do that? If they’re successful in the actual deal, [it would] potentially reflect [that] they have made it.

But then again, they have to execute on [running] an even bigger company than ever before. And so I guess my third thought on this is: Should they be buying this? Is this what it takes for them to expand? Is it a risk for them to take on so much? Why not just stay as they are? And I don’t know if you agree with me on that one. Is it too big of a risk? 

Anthony: I can see how it makes sense for Netflix. It’s a way to take a [content] library that is already quite large, and they’ve obviously had some very successful TV shows — less so on the movie side — [but] potentially, they just become so much stronger on the content side.

[And] they’re suddenly now involved in all these other businesses, although the question is to what extent are they going to invest in things like the theatrical business, theme parks, making TV shows for other streaming services and networks, which are all businesses that Warner Bros is in, and Netflix says it will continue to support. But we’ll see to what extent that’s true.

So it seems like something that can really benefit Netflix in some ways, but, at the same time, it does seem like this is a huge risk. If you go and look at the analyst call that Netflix’s executives did after announcing the deal, you can see that the analysts are wrestling with it and wondering “Okay, I can see that this grows your business, but does it grow your business [so much that it’s] worth an $82 billion deal?”

And then of course, beyond the Netflix perspective, you have everybody else in Hollywood. There are all these maybe accurately hyperbolic headlines about: Is this the end of Hollywood? Is this the end of the movie theater business? All the unions are basically saying either, “This deal should be blocked” or “We’re very, very, very worried about this deal.” The theater owners are saying that

And so I think there’s A) Is this a good deal for Netflix? And B) is this a good deal for the entertainment business? I don’t have a good answer for either, [but] I think it’s more likely to be a good deal for Netflix than it is to be a good deal for the entertainment business.

Though again, part of what to keep in mind as people weigh those options or think about possible outcomes here, is that because of the way that Paramount has forced Warner Bros. to consider these acquisition offers, it seems unlikely that Warner Bros. is going to be able to continue as an independent company — which, if you’re not a fan of media consolidation, that is disappointing.

This match-up has a clear winner, but that doesn't mean you should bet the farm on it.

If you ask investors which they would rather own -- a hulking blue chip asset, or a smaller and unproven upstart -- many will prefer the latter option without thinking. After all, it's easy to fall in love with the idea of grabbing a multibagger, and it's also easy to forget how many lottery tickets inevitably expire worthless.

But is that the right lens to analyze whether it's Bitcoin (BTC 1.68%) or Cardano (ADA 2.80%) that has more upside in store for those who buy it right now? Let's investigate which of these assets is better positioned to grow and find out.

Image source: Getty Images.

Bitcoin isn't a moonshot anymore
At this point, Bitcoin is the monetary heavyweight of crypto, and it's also a major financial asset with widespread acceptance in the traditional financial sector.

It represents more than half of total crypto market value, and it has a market cap of $1.8 trillion. Its tokenomics are brutally simple, with its supply capped at 21 million coins, and its new issuance coded to cut roughly in half every four years through the halving. Roughly 95% of that fixed cap has already been mined, so new supply is now only trickling in at the pace of molasses left outside in January (which is really slow).

The possible sources of demand for the coin have exploded since the arrival of spot Bitcoin exchange-traded funds (ETFs) in January 2024. The approval of the ETFs, long hailed as a major mark of the cryptocurrency's maturity as an asset, have made buying and holding Bitcoin available to practically every investor. But in the context of evaluating the coin's upside, it's also worth mentioning that there isn't necessarily another similarly important catalyst anywhere on the horizon.

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So, in that vein, what does "upside" really mean for something this large?

A 10X move from here would imply a market cap for Bitcoin eclipsing most categories of global wealth, and approaching that of gold. That isn't impossible if investors continue to believe that Bitcoin is a store of value that's so reliable as to be "digital gold." But for the record, during the ongoing inflation flap of the last 12 months, gold's price rose 53%, and Bitcoin's price was flat, so the narrative here does not really match the price action.

Still, if you assume that institutional adoption continues and that spot ETFs keep taking up coins, a world where Bitcoin is 3X to 5X higher a decade from now is entirely plausible, and in fact fairly probable.

Cardano's potential is significant, but it's mostly theoretical
Cardano is an entirely different animal than Bitcoin, as it's a smart contract blockchain. It's also a much smaller asset, with a market cap of $17 billion.

At that scale, identically sized inflows would struggle to make Bitcoin's price move even a little, but could move Cardano's price by a lot. That's the essence of the "Cardano has more upside" argument: It's simply far less established, which implies the possibility of a big gain if that eventually starts to change.

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The thing that could catalyze precisely that change is Cardano's recent move to integrate the x402 internet payment standard. The x402 protocol is a way for websites to take payments from users and display pages or data to them in return. Developers are now wiring this standard into the chain, and it might be used for AI agents to pay each other as well.

If that vision pans out, Cardano could become one of the settlement layers for autonomous software, where every model query or content request has a tiny payment attached. In theory, that's a narrative large enough to justify many multiples of upside compared with today's valuation.

In practice, implementing the x402 protocol so that Cardano's holders benefit is quite complicated. Most sites don't want to change their business models, and they probably aren't aware of the possibilities for x402 anyway, at least for now. The protocol itself provisions for payment in many different kinds of stablecoins and crypto tokens, not just Cardano, so there will be plenty of competition for whatever opportunities end up actually existing.

Nonetheless, in this match-up with Bitcoin, Cardano undeniably has more upside for those who buy it now, even if the odds of it actually realizing that upside are on the low side in comparison to Bitcoin's odds of continuing to chug along and grind upwards over time. Bitcoin is by far the safer bet, but that's also a big part of the reason why it's less likely to grow dramatically.

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Market concentration has reached levels not seen in decades. The three largest U.S. stocks now represent over 20% of the S&P 500’s total value, and the top 20 account for roughly half. iShares Top 20 U.S. Stocks ETF (NYSEARCA:TOPT) offers a direct bet that this ‘winners keep winning’ trend will continue.

The Portfolio Role: Concentrated Megacap Exposure
TOPT tracks the S&P 500 Top 20 Select Index, holding the 20 largest U.S. companies by market cap. The index rebalances quarterly, automatically rotating holdings to reflect which companies remain in the top tier. This creates a momentum-adjacent strategy where recent winners that grow into the top 20 get added, while those that fall out get removed.

As of December 2025, NVIDIA Corporation (NASDAQ:NVDA) represents 15.2% of the portfolio, Apple Inc (NASDAQ:AAPL) 14.5%, and Microsoft Corporation (NASDAQ:MSFT) 12.5%. Those three stocks alone comprise 42% of the fund.

The 0.20% expense ratio is competitive for a concentrated strategy. With $441 million in assets under management since launching in October 2024, TOPT remains relatively small but has attracted investors seeking simplified exposure to market leaders.

Does It Deliver on the Promise?
Since inception in late October 2024, TOPT has returned approximately 24%, pretty impressive for a fund that both launched near market highs, and was by design betting on the biggest winners thus far. 

One Reddit user in the r/investing community asked whether TOPT was “worth putting some disposable cash into,” noting it “seeks to expand from the M7 to the top 20 stocks.” The question captures the fund’s appeal: slightly more diversification than owning just the Magnificent Seven while maintaining heavy exposure to the same mega-cap growth thesis.

The quarterly rebalancing ensures the fund stays current with market leadership without requiring manual adjustments.

The Tradeoffs You Accept
Concentration risk dominates. With 42% in three stocks and 72.5% in the top 10 holdings, TOPT magnifies single-stock volatility. When NVIDIA surged 66.7% year-over-year in earnings growth, that benefited the fund significantly. But when any top holding stumbles, the impact is immediate and substantial.

Sector concentration compounds this risk. Information technology represents 46.6% of the portfolio, with communication services and consumer discretionary adding another 24%. Over 70% sits in growth-oriented sectors that face elevated valuations. NVIDIA trades at 43x earnings, while Apple carries a PEG ratio of 2.8, suggesting limited upside relative to growth rates.

The quarterly rebalancing creates potential tax inefficiency. As stocks move in and out of the top 20, the fund must trade, generating capital gains passed to shareholders. This makes TOPT less suitable for taxable accounts.

Who Should Avoid TOPT
Risk-averse investors seeking stability should look elsewhere. The fund’s concentration means sharper drawdowns than diversified alternatives during corrections. With a beta above 1 implied by its holdings, TOPT will likely decline more than the broader market when sentiment turns negative.

Long-term retirement investors building core portfolio positions have better options. The lack of diversification across sectors, market caps, and investment styles makes TOPT inappropriate as a foundational holding.

Consider VOO Instead
Vanguard S&P 500 ETF (NYSEARCA:VOO) offers exposure to the same top 20 stocks TOPT holds, but adds 480 more companies for diversification. The expense ratio is just 0.03%, compared to TOPT’s 0.20%. While VOO’s top holdings still include NVIDIA, Apple, and Microsoft, their combined weight is lower, reducing concentration risk.

VOO provides broader sector exposure and smaller-cap participation while maintaining access to mega-cap leaders. For most investors, that balance offers better risk-adjusted returns over full market cycles. TOPT works as a tactical bet on continued mega-cap dominance, but VOO serves as a more durable core holding with lower costs and wider diversification.

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The AI infrastructure buildout is accelerating across semiconductors, cloud computing, and software applications. Identifying which companies will dominate five years from now is nearly impossible, exposing investors to concentration risk as competition intensifies.

Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) addresses this by spreading exposure across 86 AI companies. The fund holds $7.0 billion in assets and charges a 0.68% expense ratio. The company summarizes the appeal by stating:

The Portfolio Role: Broad AI Exposure Without Picking Winners
AIQ provides comprehensive AI participation without concentrating capital in a handful of names. The fund combines appreciation from companies building AI infrastructure (semiconductors, cloud computing) with those deploying AI applications (software, automation, consumer tech).

No single position exceeds 4.5% of the portfolio. Alphabet (NASDAQ:GOOGL) leads at 4.44%, followed by Samsung Electronics at 3.92% and Advanced Micro Devices (NASDAQ:AMD) at 3.63%. Even NVIDIA (NASDAQ:NVDA) represents just 2.84% of assets.

This equal-weight approach extends across geographies, including Taiwan Semiconductor, Tencent Holdings, and SK Hynix alongside U.S. tech giants. Information technology represents 52.3% of holdings, with communication services and consumer discretionary adding another 16%.

Performance: Strong Returns With Expected Volatility
AIQ has delivered 26.29% returns over the past year and is up 30.89% year-to-date through December 12, 2025. Since inception in May 2018, the fund has generated 17.91% annualized returns. 

Recent volatility is evident: the fund traded near $53.76 in late October before pulling back to $47.33 in mid-November, a 12% drawdown. It has since recovered to $50.52, with the RSI at 48.91 indicating neutral momentum.

The Tradeoffs: Cost and Sector Concentration
The 0.68% expense ratio exceeds broad market index funds by roughly 0.65 percentage points annually. An investor holding $100,000 for 20 years would pay approximately $15,000 more in fees compared to a fund charging 0.03%.

Sector concentration presents another risk. With over 70% allocated to information technology and related sectors, AIQ offers limited protection during tech selloffs. The fund’s 20.20% standard deviation confirms elevated volatility compared to diversified equity indexes.

Who Should Avoid This ETF
Conservative investors seeking income should look elsewhere. AIQ’s 30-day SEC yield sits at negative 0.10%, with semi-annual distributions offering minimal amounts. Retirees requiring steady cash flow would find better options in dividend-focused funds.

Investors with short time horizons also face challenges. Technology sectors can experience prolonged drawdowns, as evidenced by AIQ’s 36.45% decline in 2022. Anyone needing capital within three years should avoid thematic ETFs with this volatility profile.

Alternative: BOTZ for Robotics Focus
Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ) offers a more concentrated approach. With $3.15 billion in assets and the same 0.68% expense ratio, BOTZ focuses specifically on industrial robotics, automation systems, and healthcare applications rather than the broader AI ecosystem.

BOTZ dedicates over 25% of holdings to Japanese automation leaders like FANUC and Keyence, providing targeted exposure to industrial robotics. The fund also maintains significantly higher trading volume than AIQ, resulting in tighter bid-ask spreads.

AIQ works best as a 5% to 10% satellite position for investors with five-year-plus time horizons who want diversified AI exposure without picking individual winners, accepting higher costs and volatility in exchange for avoiding single-stock risk.

Dividend stocks look poised to rebound in 2026, and the ones focused on balance sheet quality and long-term dividend growth could perform best.

After three years during which tech and AI stocks have been almost the only groups driving gains in the U.S. equity market, it would be easy to forget that dividend stocks still deserve consideration as long-term portfolio allocations.

Over the course of decades, dividend stocks have proven their ability to enhance risk-adjusted returns, mitigate portfolio volatility, and deliver steady income streams. This makes them ideal for both income investors and longer-term growth-oriented investors.

Heading into 2026, the U.S. economy looks like it's still in good shape. In the December projections that the Federal Reserve released this past week, it indicated that it expects real U.S. GDP growth to accelerate from 1.7% in 2025 to 2.3% in 2026. On the other hand, it just lowered the federal funds rate by a quarter-point. Generally, the central bank cuts its benchmark interest rates when it feels the economy could use a little support.

Source: Getty Images.

That could mean opportunities ahead for dividend exchange-traded funds (ETFs). They've been tepid performers for some time, but any kind of economic slowdown, surge in inflation, or trouble in the labor market could drive investors to pivot back toward more defensive strategies. In that case, dividend stocks would fit right in.

Here are three dividend ETFs that I like heading into 2026.

Schwab U.S. Dividend Equity ETF
The Schwab U.S. Dividend Equity ETF (SCHD +0.05%) takes a decidedly different approach than the one that's been rewarded over the past couple of years. It screens for stocks with consistent dividend histories, strong fundamentals, value characteristics, and high yields. That strategy tends to underperform during periods when the market is all about growth, but it's one that's delivered over the long term.

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Its factor mix benefits from a rotation away from mega-cap growth, something we've seen starting to happen since the beginning of November. Value and dividend stocks have begun leading again, and the Schwab U.S. Dividend Equity ETF has been beating the S&P 500. If tech momentum continues to stall out (and Oracle's earnings report would certainly give the impression that that's happening), this fund could be a prime beneficiary, much as it was throughout the 2010s when it dominated this space.

The Schwab U.S. Dividend Equity ETF pairs well with a core S&P 500 position, but this could be a good time to consider increasing your allocation to it.

WisdomTree U.S. Quality Dividend Growth ETF
I've liked the WisdomTree U.S. Quality Dividend Growth ETF (DGRW 0.74%) for some time. Its strategy is simple: Target companies with great fundamentals, such as return on equity and return on assets, and weight the portfolio by total dividends paid. That avoids a portfolio that overallocates into the biggest companies or the ones with the highest yields. Instead, it gives larger weightings to the companies that have rewarded shareholders the most.

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The WisdomTree U.S. Quality Dividend Growth ETF can serve as a nice bridge between growth and value. It tends to hold more technology stocks than the average dividend ETF, which positions it to do well if we remain in a late-cycle rally. On the other hand, its heavy quality tilt and focus on things such as cash flow and dividend growth should prove favorable attributes if economic conditions begin to turn south.

That quality dividend growth strategy could prove to be particularly appealing in times when the direction of the economy is unclear.

Vanguard International High Dividend Yield ETF
International stocks had a really good year in 2025: The combination of a falling dollar, lower central bank interest rates, and improving financials gave them a chance to shine. That has helped the Vanguard International High Dividend Yield ETF (VYMI 0.38%) to deliver a 35% return year-to-date.

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Given how long international stocks have lagged domestic equities, we could be in the early innings of an extended stretch of strong results for non-U.S. investments. International markets are much more dependent on sectors, such as financials and energy, instead of tech. We're already starting to see a cyclical rebound as we close out 2025. If the markets begin rotating away from tech, any fund that's light in that sector -- and the Vanguard International High Dividend Yield ETF has only a 3% allocation to tech -- could be set up to do really well.

With its 3.8% yield, the ETF can provide investors with both income and international diversification. It could pair nicely with either of the ETFs listed above or with any core S&P 500 allocation.

Can Netflix still change your financial life if you invest in 2025? Here's what a $13,000 investment in Netflix could do for you in the long run.

Once upon a time, Netflix (NFLX +1.18%) shifted into second gear. The company dominated video rentals by then, essentially driving incumbents such as Blockbuster and Movie Gallery out of business. Digital video streams had been a free bonus for Netflix subscribers since 2007, but it was time to convert that free feature into a separate moneymaking business.

With 14 years of hindsight, it's easy to say that the streaming focus was the right idea. Netflix is a global media giant today, powered by an almost perfectly global digital video service. But this future wasn't obvious in 2011, and Netflix's management sure didn't handle the strategy switch perfectly. The Qwikster debacle drove share prices as much as 59% lower in less than three months.

If you had the foresight to buy more Netflix stock in that deep dip, you'd have some massive gains by now. The handful of shares I added at the end of October are up by 7,836% as of Dec. 11, 2025. It's a shame I didn't have $13,000 of investable cash to spare at the time -- that would have been worth more than a million dollars by now.

So, Netflix has a history of game-changing price gains. However, past returns don't say anything about future prospects. Can Netflix's stock still set you up for life if you invest, say, $13,000 in December 2025?

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A $34 trillion Netflix is not the plan here
First of all, it's unreasonable to expect Netflix to keep up its world-class growth for another decade and a half. My opportunistic buy in the Qwikster dip has seen a compound annual growth rate (CAGR) of 36.6% for 14 years. Repeating that performance would give Netflix a $34 trillion market cap by the year 2039.

The figure should be adjusted for inflation, stock dilution, moon phases, and so on, but that's still an outrageous target. A $13,000 Netflix investment today won't be worth $1,000,000 in 14 years. Honestly, you need lottery tickets and a date with Lady Luck to make a million that fast.

From scrappy disruptor to global profit engine
That being said, I see great value in Netflix right now.

This company was a very different beast in 2011. Streaming media was a new idea, at least in terms of business-driving operations. Smartphones and broadband internet connections were nowhere near as readily available as they are now.

Today, Netflix sits on a global distribution platform, a deep content library, and a proven playbook for turning engagement into cash. It generates billions in free cash flow, has shifted from "growth at any cost" to disciplined, profitable expansion. The company still commands only a single-digit percentage share of TV viewing time even in its most mature markets, according to Nielsen data cited in October's Q3 report.

I mean, have you seen Netflix's revenue and cash flow trends in the last two years? Here you go:

NFLX Revenue (TTM) data by YCharts. TTM = trailing 12 months.

Sales are up by 32% over this two-year period, while free cash flows rose by 58%. Both figures are all-time highs. Netflix is a cash machine these days -- a sharp shift from its former focus on pure subscriber growth.

How Netflix could still help you reach $1 million in 30 years
I haven't even talked about the levers Netflix can pull to keep the growth story going. From video games and live sports coverage to culture-changing hits and real-world entertainment hubs, the company is getting busy with new ideas.

The hypergrowth days may be over. Still, Netflix should outperform the broader stock market in this new era of profitable entertainment sector dominance. Let's set a modestly market-beating target. Over the last 10 years, the S&P 500 (^GSPC 1.07%) delivered a CAGR of 14.9% (total returns, accounting for dividend payouts).

Imagine a sustained 16% growth rate for your $13,000 Netflix investment, barely ahead of the S&P 500. At that pace, you'll have $1.12 million in 30 years.

Image source: Netflix.

Mind you, my time machine is in for repairs again. The Warner Bros. Discovery buyout shenanigans fried my last flux capacitor. So, these are estimates, not rock-solid facts. Netflix could outperform my targets, speeding up your travel to a million dollars. Or it could fall short, slowing you down or making you settle for "only" half a million in 2055 at a 13% CAGR.

Either way, I'm confident that Netflix has lots of growth ahead, with or without Warner's assets. And the stock is down 21% in the last three months, despite rock-solid sales growth and even stronger cash profits. Including a healthy dose of Netflix stock in a diversified portfolio can indeed set you up for life, with reasonable expectations and a few decades' worth of patience.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

New York, New York--(Newsfile Corp. - December 14, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of StubHub Holdings, Inc. (NYSE: STUB) pursuant and/or traceable to the Registration Statement issued in connection with StubHub's September 2025 initial public offering (the "IPO"), of the important January 23, 2026 lead plaintiff deadline.

SO WHAT: If you purchased StubHub common stock you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the StubHub class action, go to https://rosenlegal.com/submit-form/?case_id=48412 or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 23, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Registration Statement was materially false and misleading and omitted to state that: (1) StubHub was experiencing changes in the timing of payments to vendors; (2) those changes had a significant adverse impact on free cash flow, including trailing twelve months ("TTM") free cash flow; (3) as a result, StubHub's free cash flow reports were materially misleading, and that; (4) as a result of the foregoing, defendants' positive statements about StubHub's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the StubHub class action, go to https://rosenlegal.com/submit-form/?case_id=48412 or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277966

Source: The Rosen Law Firm PA

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HomeETFs and Funds AnalysisETF Analysis

SummaryHealthcare providers and pharmaceuticals are the most compelling subsectors based on value and quality scores.PJP delivers attractive historical risk-adjusted returns compared to XLV and XPH.10 healthcare stocks cheaper than their peers in December.hirun/iStock via Getty Images

This article offers a top-down view of the healthcare sector based on metrics focusing on value, quality and momentum. It may also help analyze sector ETFs such as Health Care Select Sector SPDR ETF (XLV

Analyst’s Disclosure:I/we have a beneficial long position in the shares of GILD, JNJ, MRK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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New York, New York--(Newsfile Corp. - December 14, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Synopsys, Inc. (NASDAQ: SNPS) between December 4, 2024 and September 9, 2025, both dates inclusive (the "Class Period"), of the important December 30, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Synopsys securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Synopsys class action, go to https://rosenlegal.com/submit-form/?case_id=44981 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 30, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Synopsys' business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) the extent to which Synopsys' increased focus on artificial intelligence customers, which require additional customization, was deteriorating the economics of its Design IP business; (2) that, as a result, "certain road map and resource decisions" were unlikely to "yield their intended results,"; (3) that the foregoing had a material negative impact on financial results; and (4) as a result of the foregoing, defendants' positive statements about Synopsys' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Synopsys class action, go to https://rosenlegal.com/submit-form/?case_id=44981 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277910

Source: The Rosen Law Firm PA

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Dave & Buster's NASDAQ: PLAY struggles are not over, but the sell-off in its stock is, and the reversal is underway. The fiscal year 2026 (FY2026) Q3 results reveal that the CEO change, Back-to-Basics strategy, and restaurant remodels are having a positive impact.

Tom Yeung here with your Sunday Digest. 

What year would you have wanted to be born in? 

The 2023 International Booker Prize-winning book, Time Shelter, explores this with a dash of black humor. In it, Bulgarian author Georgi Gospodinov writes about a psychiatrist who creates a clinic for Alzheimer’s patients where each floor re-creates a decade in intricate detail. Healthy people then come to the clinic, seeking to relive past eras. 

The concept eventually becomes so popular that entire countries hold referendums allowing citizens to vote on when to move back to. Bulgaria rewinds to the 1970s, while France picks the 1980s. It is a masterwork in examining nostalgia, collective memory, and the seduction of the past. 

But what if you added a second constraint to those national referendums: that you would have to be born into a family at the bottom 25% of wealth? 

In America, the best period to have been born poor was not the 1960s… the 1970s… or even the tech-driven world of the 2000s. 

It would have been the 1940s. 

If you’re paying attention, you likely suspected that. Just think of the massive wealth you see in Mar-a-Lago… the lush golf courses dotting The Villages and other retirement communities… the multimillion-dollar family offices that line Wall Street… 

According to studies by the National Bureau of Economics, 90% of children born in the 1940s eventually outearned their parents in real terms. Those who came from the bottom-25% of wealth ended up in the mid-40th percentile. 

In fact, those who were lucky enough to be born in 1945 saw the best return in the stock market during their prime savings years. 

They lived through the era of the American Dream. 

However, the American Dream is in decline. Just 50% of those born in the 1980s now outearn their parents in real terms (down from 90% in the 1940s). Upward mobility for families has reverted to 1910s levels… and we’re quickly turning into a society of “haves” and “have-nots” where a party at Mar-a-Lago might as well be a scene out of The Great Gatsby. 

It’s no wonder that 76% of millennials and 75% of Gen-X’ers now experience historical nostalgia, compared to just 35% of the Silent Generation and 59% of baby boomers. 

That’s why Washington has been so laser-focused on rebuilding an earlier era. Their vision is where well-paying manufacturing jobs are brought back, investment is directed into America, and the American Dream is reborn. 

Some of this started with the $2.2 trillion Build Back Better Act and the $280 billion CHIPS Act. These were the largest industrial policy packages the U.S. government had created to date. 

But our three senior analysts, Louis Navellier, Eric Fry, and Luke Lango, believe this is just the start. 

In their brand-new free presentation, The American Dream 2.0 Summit, they outline how we’re now at the start of an $11.3 trillion investment bonanza aimed at turning America back into a global powerhouse. These enormous sums have been wrangled out of multinational firms and sovereign nations alike and will be spent on AI data centers… research… manufacturing… and more. 

Even better, they will discuss their Power Portfolio 2026, a list of their “best-of-the-best” companies that are riding on this new investment wave. 

In last week’s Sunday Digest, I revealed three companies that were considered for their portfolio, but didn’t quite make the cut. This week, I’d like to suggest two more promising firms that illustrate how high a bar the Power Portfolio has set… 

Top Stock for 2026 No. 4: The Chemistry Behind American Manufacturing 
Chemical maker Celanese Corp. (CE) is a sped-up version of the American Dream. The world’s largest producer of acetic acid performed marvelously through the 2010s, thanks to its access to low-cost U.S. natural gas feedstocks and a solid execution strategy.  

The company used this cost advantage to dominate the acetyl-chain industry, which supplies the automotive sector, construction industry, and more. Celanese also acquired DuPont’s (DD) mobility and materials portfolio in 2022, turning the combined entity into one of the world’s largest engineered material producers as well. 

However, a global slowdown in chemicals demand since then has turned Celanese into a deep-value play. Shares plummeted from the $150 range down to the $40 range, and its carefully planned DuPont acquisition now looks like a millstone. The company slashed its dividend by 95% in 2025 to prioritize repaying the debts it accrued from the purchase. 

That’s why the American Dream 2.0 is so crucial to Celanese’s recovery. 

Over the coming 12 months, analysts expect the crucial automotive business to stabilize. Edmunds calls it a “sustainable pace supported by real demand.”  

Meanwhile, the construction industry is expected to see “a decade of demand arriving all at once” in the energy and utilities sector, as global consulting firm West Monroe puts it. Data centers and electrification are driving enormous amounts of load growth, creating demand from the construction industry for the adhesives, paints, and solvents that Celanese helps create. 

That’s why analysts expect revenues at Celanese to rise in 2026 for the first time since 2023. This is despite management’s decision to sell its noncore Micromax business (electronic inks) to repay debt. 

Profits are also expected to surge. Gross income is expected to jump 17% to $2.1 billion, helping flip reported net income positive after two years of negative numbers. 

That’s a historically excellent sign for firms like Celanese. Conservative investors typically favor stocks only after companies have turned profitable. Buying Celanese today gets investors in before the rush. 

It’s also essential to note that Celanese trades at a significant discount to its justified value, which sits closer to $100 per share. The company continues to have the same access to low-cost natural gas feedstocks, and a return to normal industry pricing gives CE stock an upside of 140%. 

Top Stock for 2026 No. 5: The Hidden Compute Leader 
It’s becoming a challenge to find promising AI plays at the right price. Shares of Nvidia Corp. (NVDA) have now risen 950% since ChatGPT was released on November 30, 2022. Data center infrastructure firm Vertiv Holdings Co. (VRT) has jumped 1,050% over the same period, while AI darling Palantir Technologies Inc. (PLTR) has surged 2,300%. 

Power producers… chipmakers… AI software firms: Most now trade at their highest valuations in recent history. 

Akamai Technologies Inc. (AKAM) is one notable outlier. 

This cybersecurity and cloud computing firm has traded flat since ChatGPT was launched, and now sits at just 12 times forward earnings. 

The reason is straightforward: Akamai was once the leader in content delivery networks (CDN), the global mesh of servers that allow websites to load at lightning speeds. An internet user in Japan, for instance, would access an American website like Delta.com through a Japanese server, rather than one based in the United States. This can shave significant amounts of waiting time, especially when data makes multiple round trips. 

The CDN industry no longer has a leader. Most media firms have now built their own CDNs, and many hyperscale data centers and cloud computing firms now offer competing services. CDNs now make up just 30% of Akamai’s business, down from 80% in 2017. 

However, Akamai has quietly repurposed its CDN servers to support enhanced cybersecurity and cloud computing.  

In 2022, the firm acquired Linode, a developer of cloud infrastructure that specialized in virtual machines. The following year, Akamai launched its Connected Cloud, a platform focused on edge computing. Then in 2024, the firm acquired Noname Security (not a typo) to build out its cybersecurity offerings. 

Together, this has turned Akamai from a CDN provider into the most distributed cloud in the world. The firm’s cloud has 4,400 points of presence, dwarfing the 750 that Amazon Web Services has through CloudFront. 

This network will become invaluable as America builds out its network of robots, self-driving cars, and other connected AI devices. These “edge” devices require ultrafast, ultra-safe connections to data centers.  

And so, analysts forecast revenue growth at Akamai to reaccelerate through 2027 as a result. This lucrative business should raise reported earnings per share 18% annually over the same period, making its current valuations a steal. 

The Rebirth of the American Dream 
In a recent Market 360 update, Louis Navellier noted the extravagance of a recent Gatsby-themed celebration at the Mar-a-Lago Club.  

The chandeliers were glowing, the band was roaring, and President Trump was still greeting guests close to midnight. 

But what stood out to him was the contrast. 

Outside those walls, Americans are facing higher prices, shrinking opportunities, and an economy that feels stacked against them. Many people tell me it feels harder than ever to get ahead. For countless families, the American Dream that shaped generations now feels out of reach. 

You see, Louis was part of this earlier American Dream “1.0.” His father was a bricklayer, and as a boy, Louis would pick up caddying shifts at the local golf course. He would go on to score in the top 1% in math on the SATs, finish college in three years, earn an MBA, and launch a career on Wall Street. 

But now he’s worrying about what life will be like for his children and grandchildren. Which side of the “Mar-a-Lago wall” will they find themselves on? What kind of America will they inherit? Because clearly, the American Dream 1.0 isn’t working anymore. 

That’s why the American Dream 2.0 is so crucial. It’s a make-or-break for this next generation. And it’s why so many trillions of dollars are getting funneled into accelerating American infrastructure.  

It might not all work out, however… so I urge you to watch Louis team up with Eric and Luke in their American Dream 2.0 Summit.  

See you back here next Sunday. 

Regards, 

Thomas Yeung, CFA 

Market Analyst, InvestorPlace 

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Thomas Yeung is a market analyst and portfolio manager of the Omnia Portfolio, the highest-tier subscription at InvestorPlace. He is the former editor of Tom Yeung’s Profit & Protection, a free e-letter about investing to profit in good times and protecting gains during the bad.

NEW YORK, Dec. 14, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against MoonLake Immunotherapeutics (“MoonLake” or “the Company”) (NASDAQ: MLTX) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired MoonLake securities between March 10, 2024 and September 29, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/MLTX.

Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) MoonLake misrepresented the efficacy of its drug candidate, sonelokimab (SLK), by claiming it was superior to other monoclonal antibodies despite lacking evidence of any proven advantages; (2) the Company repeatedly promoted SLK’s superiority while knowingly omitting material facts about its comparative performance; (3) the Phase 3 trial results of SLK, which analysts described as “disastrous,” revealed the drug’s shortcomings and caused MoonLake’s stock to lose nearly 90% of its value; and (4) as a result, the Company’s public statements regarding SLK and its prospects were materially false and misleading throughout the Class Period. When the market learned the truth about MoonLake’s misrepresentations, investors suffered significant damages.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/MLTX. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in MoonLake you have until December 15, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]