Market Signal Briefing

TLDR

CME Group has launched a new suite of cryptocurrency benchmarks for institutional traders.
The suite includes the CME CF Bitcoin Volatility Index which tracks 30-day implied volatility.
The benchmarks provide standardized pricing for Bitcoin, Ether, Solana, and XRP.
The Bitcoin Volatility Index is a reference tool and is not available for direct trading.
CME Group reported over $900 billion in crypto futures and options volume in the last quarter.

CME Group introduced a new suite of cryptocurrency benchmarks designed for institutional traders. These tools include the CME CF Bitcoin Volatility Index and reference rates for multiple digital assets. This launch supports the growing demand for structured data in maturing crypto derivatives markets.

The new CME CF Cryptocurrency Benchmarks provide standardized pricing across Bitcoin, Ether, Solana, and XRP. They help institutional clients analyze risk and price options using familiar tools from traditional asset classes. This move enhances transparency and usability in cryptocurrency trading infrastructure.

CME Group stated the benchmarks aim to improve pricing consistency and risk assessment. They include reference rates and real-time volatility indexes tailored for institutional adoption. This aligns with the company’s strategy of expanding access to crypto markets.

Bitcoin Volatility Index Offers 30-day Expectations
The CME CF Bitcoin Volatility Index measures implied volatility in Bitcoin and Micro Bitcoin Futures options. It calculates expected price movement over a 30-day period using market-driven data. This tool serves as a reference point, not a tradable product.

“Volatility benchmarks are essential for understanding market risk,” CME Group said in the announcement. They support options pricing, hedging strategies, and real-time monitoring of trader sentiment. The index functions like equity market tools used in S&P and Nasdaq derivatives.

CME Group continues expanding its crypto infrastructure to match institutional expectations. The Bitcoin volatility data can integrate with portfolio management, hedging models, and risk systems. This release reflects growing institutional interest in crypto markets.

Institutional Activity Grows with Crypto Futures and Options
Institutional demand for crypto trading tools is rising. CME Group reported a record $900 billion in combined crypto futures and options volume last quarter. This includes contracts for Bitcoin and Ether.

The quarter closed with average daily open interest reaching $31.3 billion across CME Group crypto contracts. This reflects strong institutional commitment, indicating increased market depth. CME Group highlighted this as a signal of deeper liquidity.

CME Group’s data shows Ether and Micro Ether futures trading volumes are rising. More institutions are trading beyond Bitcoin and diversifying their crypto exposure. Crypto derivatives trading now spans a broader range of assets.

The Bitcoin volatility index fills a critical gap in the market. It supports institutional strategies that rely on forward-looking risk indicators. CME Group designed the index to work seamlessly with its existing product suite.

Standardized volatility tools allow institutions to operate within established frameworks. This includes pricing derivatives, assessing tail risk, and adjusting exposure. The benchmarks deliver consistent data across timeframes and assets.

CME Group has embedded these tools into systems used by major trading desks. This ensures ease of access and compatibility with regulated instruments. The tools reflect evolving demand from professional traders and asset managers.

SAN FRANCISCO, Dec. 02, 2025 (GLOBE NEWSWIRE) -- National shareholder rights law firm Hagens Berman reminds investors that the deadline to move the Court for appointment as lead plaintiff in the securities class action lawsuit against Inspire Medical Systems, Inc. (NYSE: INSP) is January 5, 2026.

The lawsuit alleges that Inspire Medical and its executives misled investors by providing assurances of “operational readiness” for the Inspire V device launch, while concealing critical failures in billing software and training that made a successful rollout impossible. The revelation of these failures forced an 80% cut to EPS guidance and caused the stock to crash over 32%.

“Our investigation centers on the purported disconnect between management’s claims of being ‘ready to throw the switch’ for the Inspire V launch and the alleged undisclosed operational reality,” said Reed Kathrein, the Hagens Berman partner leading the litigation. “We are specifically scrutinizing when executives knew that the software updates for Medicare claims processing had failed—effectively blocking reimbursement—and whether they concealed the inventory glut of the older Inspire IV device to maintain an artificial stock price. We urge investors in Inspire who suffered significant losses to contact the firm now to discuss their rights.”

Legal Analysis: The "Operational Readiness" Disclosure Gap

The complaint details the alleged material misstatements regarding the Company’s preparation for its most important product cycle. The firm is examining the claimed undisclosed operational hurdles that allegedly contradicted public assurances:

Operational FailureAllegation & DisclosureKey Legal IssuesBilling & ReimbursementManagement allegedly claimed policies were updated for prompt payment, but allegedly concealed that software updates for Medicare claims did not take effect until July 1, 2025.Whether INSP should have disclosed that centers could not bill for procedures, stalling adoption.Undisclosed Sales PracticeAllegedly concealed that customers held significant surplus inventory of the older Inspire IV device, stifling demand for the new product.Whether INSP should have disclosed alleged channel inventory headwinds.The Financial Impact (Aug. 4, 2025)Stock fell $42.04 per share (32%) after the Company admitted to an "elongated timeframe" and slashed 2025 EPS guidance by over 80%.Whether investors are entitled to damages resulting from the defendants’ alleged wrongful acts and omissions. The lawsuit covers investors who purchased Inspire Medical securities between August 6, 2024, and August 4, 2025.

Next Steps: Contact Partner Reed Kathrein Today

Hagens Berman has a proven track record, securing over $325 billion in settlements for investors and consumers.

Mr. Kathrein is actively advising investors who purchased INSP shares during the Class Period and suffered significant losses due to the alleged undisclosed Inspire V launch failures.

The Lead Plaintiff Deadline is January 5, 2026.

TO SUBMIT YOUR INSPIRE MEDICAL (INSP) STOCK LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

Submit your Inspire Medical (INSP) Stock Losses NowContact: Reed Kathrein at 844-916-0895 or email [email protected] If you’d like more information and answers to frequently asked questions about the Inspire case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Inspire should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

NEW YORK, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against StubHub Holdings, Inc. (“StubHub” or the “Company”) (NYSE: STUB). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether StubHub and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until January 23, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired StubHub securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On or around September 17, 2025, StubHub conducted its initial public offering (“IPO”) of 34,042,553 shares of Class A common stock priced at $23.50 per share.  Then, on November 13, 2025, StubHub issued a press release announcing its financial results for the third quarter of 2025.  The press release revealed that free cash flow was negative $4.6 million in the quarter, a 143% decrease from the Company’s free cash flow in the year ago period, which was positive $10.6 million.  The press release further revealed that StubHub’s net cash provided by operating activities was only $3.8 million, a 69.3% decrease from the year ago period, when the Company reported $12.4 million in net cash provided by operating activities.  The same day, StubHub filed its quarterly report for the third quarter of 2025, which revealed that the quarter’s year-over-year decrease in free cash flow “primarily reflects changes in the timing of payments to vendors.” 

On this news, StubHub’s stock price fell $3.95 per share, or 20.9%, to close at $14.87 per share on November 14, 2025.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.   

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

Foreign equities investing has been one of the defining stories of the year. Even before 2025 got started, many investors were considering moving from underweight to neutral, at least, in ex-U.S. equities. Several events this year added tailwinds to that move, including tariff uncertainty and a monetary outlook gap between the U.S. and certain foreign markets. Emerging markets ETF strategies have benefitted in particular. One such ETF, AVEM, has performed for investors amid that market movement while adding more than $5 billion in YTD flows.

See more: American Century Investments’ Greenblath Appears on ETF Prime Podcast

The Avantis Emerging Markets Equity ETF (AVEM) has added $5.2 billion in net inflow since January 1 of this year according to ETF Database data. The strategy, which charges a 33 basis point fee, now has more than $15 billion in total ETF AUM as of December 2, placing it in the top-five emerging markets ETFs by that metric.

Top Five by AUM: Emerging Markets ETF AVEM
The strategy, from American Century Investments shop Avantis Investors, offers a particular approach. The emerging markets ETF looks to combine the benefits of indexing, like diversification, transparency, and limited turnover, with certain strengths of active. For example, it can adapt to new market information to make investment decisions. That can help set it apart from other emerging markets ETF strategies.

AVEM invests in small-cap firms with strong profits and low valuations in emerging markets. At the same time, its approach aims to underweight large-cap firms that offer lower profitability and higher price-to-book values.

Together, that has helped the fund produce strong returns to pair with its significant flows. AVEM has returned 31.9% YTD according to ETF Database data. That has outperformed the fund’s ETF Database Category average in that time. The strategy has also performed over the last one year, as well, returning 30% in that time, also beating its average.

What should investors make of the emerging market ETF’s outlook for the rest of the year? The U.S. domestic monetary situation, when compared to emerging markets’ own monetary pictures, has a role to play. Many emerging markets economies have much less inflation and are ahead in their rate cycles. That, and potential future U.S. tariffs and a declining dollar, could see AVEM present a strong option to enter 2026.

For more news, information, and strategy, visit the Core Strategies Content Hub.

Earn free CE credits and discover new strategies

NEW YORK, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Alexandria Real Estate Equities, Inc. (“Alexandria” or the “Company”) (NYSE: ARE).   Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Alexandria and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until January 26, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Alexandria securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.        

[Click here for information about joining the class action]

On October 27, 2025, Alexandria reported below-expectation financial results for the third quarter of its fiscal year 2025 and, in particular, cut its full-year 2025 funds from operations, or FFO, guidance. The Company attributed the setback to lower occupancy rates, slower leasing activity and, most notably, a real estate impairment charge of $323.9 million with $206 million attributed to its Long Island City property. 

On this news, Alexandria’s stock price fell $14.93 per share, or 19.17%, to close at $62.94 per share on October 28, 2025.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.   

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

An audit of the Ben & Jerry's Foundation, a U.S.-based non-profit solely funded by the brand, found that it had deficiencies in financial controls and governance, according to Magnum, the Unilever unit set to be spun off next week that will own the ice-cream maker.

Semiconductor company Marvell on Tuesday announced that it will acquire Celestial AI for at least $3.25 billion in cash and stock.

The purchase price could increase to $5.5 billion if Celestial hits revenue milestones, Marvell said.

The deal is an aggressive move for Marvell to acquire complimentary technology to its semiconductor networking business. The addition of Celestial could enable Marvell to sell more chips and parts to companies that are currently committing to spend hundreds of billions of dollars on infrastructure for AI.

Marvell stock is down 18% so far in 2025 even as semiconductor rivals like Broadcom have seen big valuation increases driven by excitement around artificial intelligence.

Celestial is a startup focused on developing optical interconnect hardware, which it calls a "photonic fabric," to connect high-performance computers. Celestial was reportedly valued at $2.5 billion in March in a funding round, and Intel CEO Lip-Bu Tan joined the startup's board in January.

Optical connections are becoming increasingly important because the most advanced AI systems need those parts tie together dozens or hundreds of chips so they can work as one to train and run the biggest large-language models.

Currently, many AI chip connections are done using copper wires, but newer systems are increasingly using optical connections because they can transfer more data faster and enable physically longer cables. Optical connections also cost more.

"This builds on our technology leadership, broadens our addressable market in scale-up connectivity, and accelerates our roadmap to deliver the industry's most complete connectivity platform for AI and cloud customers," Marvell CEO Matt Murphy said in a statement.

Marvell said that the first application of Celestial technology would be to connect a system based on "large XPUs," which are custom AI chips usually made by the companies investing billions in AI infrastructure.

On Tuesday, the company said that it could even integrate Celestial's optical technology into custom chips, and based on customer traction, the startup's technology would soon be integrated into custom AI chips and related parts called switches.

Amazon Web Services Vice President Dave Brown said in a statement that Marvell's acquisition of Celegstial will "help further accelerate optical scale-up innovation for next-generation AI deployments."

The maximum payout for the deal will be triggered if Celestial can record $2 billion in cumulative revenue by the end of fiscal 2029. The deal is expected to close early next year.

Marvell shares rose 9% in extended trading Tuesday as the company reported third-quarter earnings that beat expectations and said on the earnings call that it expected data center revenue to rise 25% next year.

The company reported 76 cents in adjusted earnings per share on $2.08 billion in sales, versus LSEG expectations of 73 cents on $2.07 billion in sales. Marvell said that it expects fourth-quarter revenue to be $2.2 billion, slightly higher than LSEG's forecast of $2.18 billion.

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West Pharmaceutical Services, Inc. (WST) Presents at Citi Annual Global Healthcare Conference 2025 Transcript

AvePoint, Inc. (AVPT) Presents at UBS Global Technology and AI Conference 2025 Transcript

Sanmina Corporation (SANM) Bank of America Leveraged Finance Conference December 2, 2025 2:50 PM EST

Company Participants

Jonathan Faust - Executive VP & CFO

Conference Call Participants

Ana Goshko - BofA Securities, Research Division

Presentation

Ana Goshko
BofA Securities, Research Division

Welcome, everyone, to Bank of America's 2025 Leverage Finance Conference. I'm Ana Goshko, and from the credit research side, I cover technology and telecom. And I'm thrilled to have Sanmina with us today, and we have Jon Faust, the company's Executive Vice President and CFO. So Jon, thank you so much for being with us.

Jonathan Faust
Executive VP & CFO

Yes, thank you for having me.

Question-and-Answer Session

Ana Goshko
BofA Securities, Research Division

Okay. Great. So just in case with anyone in the audience that's new to the Sanmina story, if you could just start with like a minute or 2 summary of the company's business.

Jonathan Faust
Executive VP & CFO

Yes, absolutely. I mean, first, let me just start off by saying for all the people listening before we talk about the business. I just want to remind you to take a look at our risk factors and our recent 10-K filing. So I wanted to make sure to point that out first. But yes, back in terms of Sanmina. So Sanmina is a global leader in the design and manufacturing solutions business. And our focus, which is a little bit different than some of our peers is on heavy regulated markets and very complex products, which is a different way of saying we don't play in the consumer space, but we do work across a multitude of end markets doing different services, and I'll talk about those too. But everything from communication networks and cloud infrastructure, to medical, aerospace and defense, industrial, energy, and we're very well diversified.

Recommended For You

Atlanta, GA, Dec. 02, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI),  a developer of advanced AI-powered security screening and imaging systems, today announced that on November 26, 2025 (the “Notice”), the Nasdaq Listing Qualifications Department (“Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company that its securities are subject to delisting from the Nasdaq Global Market.

As previously disclosed, on May 27, 2025, Staff notified the Company that the market value of its listed securities had been below the minimum $50,000,000 required for continued listing under Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Rule”) for the previous 30 consecutive trading days. Under Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until November 23, 2025, to regain compliance with the MVLS Rule. The Company did not regain compliance by that date, and the Notice states that unless the Company requests a hearing before the Nasdaq Hearings Panel (the “Panel”) by December 3, 2025, trading of its common stock will be suspended at the opening of business on December 5, 2025, and Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission (“SEC”).

The Company has requested a hearing before the Panel and paid the associated fee. Because the Notice cites non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Periodic Reporting Rule”) as an additional basis for the Staff determination, the Company will receive an automatic 15-day stay of suspension under Nasdaq Listing Rule 5815(a)(1)(B) in connection with that deficiency. The Company has also submitted a request for an extended stay of suspension applicable to the full determination, including the MVLS deficiency, pending the outcome of the hearing. At the hearing, the Company intends to present a comprehensive compliance plan addressing both the MVLS Rule and its recent filing status.

The Notice also referenced the Company’s failure to timely file its Quarterly Reports on Form 10-Q for the periods ended June 30, 2025 and September 30, 2025. Consistent with Listing Rule 5810(c)(2)(A), the Company is ineligible for Staff to review and accept a compliance plan with respect to these delinquent filings, which serve as a separate basis for delisting. Since the date of the Notice, the Company has filed its amended and restated Form 10-Q/A for the quarter ended March 31, 2025 and its amended and reviewed Form 10-Q/A for the quarter ended June 30, 2025. The Company is in the final stages of preparing its Form 10-Q for the quarter ended September 30, 2025 and expects to file this report as soon as practicable.

On November 6, 2025, prior to receiving the Notice, the Company submitted an application to transfer its listing to the Nasdaq Capital Market, where the applicable Market Value of Listed Securities requirement is $35 million. This application remains under review.

The Notice does not affect the Company’s day-to-day business operations. The Company remains committed to maintaining its Nasdaq listing and continuing to execute its operational and strategic initiatives.

About ScanTech AI

ScanTech AI Systems Inc. (Nasdaq: STAI) has developed one of the world’s most advanced non-intrusive ‘fixed-gantry’ CT screening technologies. Utilizing proprietary artificial intelligence and machine learning capabilities, ScanTech AI’s state-of-the-art scanners accurately and quickly detect hazardous materials and contraband. Engineered to automatically locate, discriminate, and identify threat materials and items of interest, ScanTech AI’s solutions are designed for use in airports, seaports, borders, embassies, corporate headquarters, government and commercial buildings, factories, processing plants, and other facilities where security is a priority.

For more information, visit www.scantechais.com and investor.scantechais.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations, estimates, forecasts, and projections, and the beliefs and assumptions of management. Words such as “expects,” “intends,” “plans,” “believes,” “seeks,” “may,” “will,” “should,” “anticipates,” or the negative or plural of these words, and similar expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

 These statements relate to, among other things, the Company’s ability to regain and maintain compliance with Nasdaq continued listing standards, successfully execute on its re-compliance plan, execute its growth strategy, and develop or commercialize its technologies. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied herein.

 These risks and uncertainties include, but are not limited to: market conditions; dilution and volatility associated with equity financings; the Company’s ability to regain compliance and remain in compliance with Nasdaq listing standards; operational and regulatory risks in the artificial intelligence and security technology sectors; product and service acceptance; regulatory oversights; whether ScanTech AI will have sufficient capital to operate as anticipated; and other factors detailed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release and are based on the information available to ScanTech AI as of the date hereof. ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable law.

Media Contact

ScanTech AI Systems Inc.
D. Williams Sr. VP Sales & Investor/Government Relations
[email protected]

Investor & Media Relations Contact:

International Elite Capital Inc.
Annabelle Zhang
+1(646) 866-7928
[email protected]

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.

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.

American Eagle raises outlook for the holiday quarter and the year on ‘strong momentum' for sales.

Michael Saylor just said something he's avoided for five years: MicroStrategy Inc (NASDAQ:MSTR) might sell Bitcoin (CRYPTO: BTC) "in the interest of shareholders." The comment stunned a market conditioned to believe the company would hold forever—and instantly ignited a fresh wave of speculation about what the move really means.

Track BTC price here.
And if you ask Jim Cramer, this might not be capitulation. It might be the setup for what he calls the "squeeze of a lifetime."

The Unexpected Pivot That Shook Bitcoin TradersMicroStrategy — the company holding roughly 650,000 Bitcoin, more than $55 billion worth at current market prices — now trades at a market cap nearly $10 billion below the value of its Bitcoin treasury. That valuation inversion is a fact, and it's the first significant sustained break below net asset value the company has ever faced.

Add in $8.2 billion in debt, $7.8 billion in preferred stock obligations and a stock that's collapsed 57% since Oct. 6, and the pressure looks real.

That's where Cramer jumps in. Posting on X, he wrote that Saylor is "a master poker player" and could "engineer a squeeze of a lifetime by going the opposite of what he says." That's opinion — not fact — but it's a powerful storyline circulating in trader circles.

Read Also: If You’re Expecting A Bitcoin Bear Market In 2026, You Have It Wrong, Grayscale Says

A Threat, A Bluff, Or A Trap Door?The possibility of selling Bitcoin changes the psychology of the stock. Shorts now face two risks: if Saylor sells, panic could push $BTC and MSTR sharply lower — but if he doesn't, and instead buys or simply delays, the NAV gap itself becomes the squeeze fuel. Either scenario is combustible when nearly a quarter of the float is sold short.

Is Saylor bluffing? Is he buying time? Or is he daring traders to bet against him one more time?

What's ClearThere are two asset classes here: Bitcoin and belief. Saylor controls both. And as long as the market can't tell whether he's holding or baiting, the game isn't over — it's just getting volatile.

Read Next:

Bitcoin Roars Back To $91,000: ‘Counter-Trend Rally’ Is Coming, But Be Patient, Analyst Says
Photo: PJ McDonnell on Shutterstock.com

Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

// Price

Reading time: 2 min

Published: Dec 02, 2025 at 20:28

Ethereum's price has continued to decline after being rejected at the 21-day SMA barrier.

Ethereum price long-term analysis: bearish

The largest altcoin has fallen to a low of $2,600 since November 21. Ether's price had been rising as buyers attempted to push it above the 21-day SMA barrier. However, bullish momentum was recently repelled as sellers aimed to breach the current support at $2,600. Today, Ether has fallen but is hovering above $2,700.

On the downside, if bears break below the $2,600 support, Ethereum will likely decline further to the projected price level at the 2.0 Fibonacci extension, or a low of $2,247. If the current support holds, Ether will be forced to trade within a range above the $2,600 low.

On the upside, if buyers break through the 21-day SMA barrier, Ether will rise to a high of $3,458, or the 50-day SMA barrier.

eum

Technical Indicators:

Resistance Levels – $4,500 and $5,000

Support Levels – $3.000 and $2,500

ETH price indicator analysis

The moving average lines are sloping downwards, and the 21-day SMA is close to the price bars. When the 21-day SMA barrier repels the cryptocurrency price, Ether will decline. A break above the 21-day SMA will signal the return of the uptrend.

What is the next direction for ETH?

Ethereum is in a sideways trend after reaching the current support level of $2,600. Ether has been trading above the $2,600 support and below the $3,100 high. The price has decreased, although it remains above the $2,700 low. According to the price indicator, Ether will fall if the $2,600 support level is broken.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.

Ether.fi has launched a referral program that will distribute cashback rewards to new and existing users.

In December 2025, Grayscale Investments forecasted that bitcoin would reach unprecedented heights in 2026, buoyed by increasing institutional interest and macroeconomic factors. The firm's optimistic outlook hinges on a combination of tightening supply due to the upcoming halving event and a growing acceptance among mainstream investors.

Hyperliquid (HYPE) price has signaled a potential market reversal. The large-cap altcoin, with a fully diluted valuation of about $33 billion, has appealed to more crypto traders as observed by its elevated 24-hour volume of about $457 million.

Amid the extreme fear of crypto selloff, as revealed by CoinMarketCap’s Fear and Greed Index, which hovered around 16/100, HYPE price surged over 10% today to trade at about $33 at press time.

Major Reasons Why HYPE is Poised for a Pump to ATH SoonInstitutional demand led by DATsOn December 2, 2025, Sonnet BioTherapeutics Holdings Inc. (NASDAQ: SONN) announced that its shareholders have approved a merger with Hyperliquid Strategies. According to Arkham, the duo intends to establish a Digital Asset Treasury (DAT) for HYPE. 

At press time, the dual has $888 million committed, whereby 65% has been committed in HYPE tokens and around 35% committed in USD. The two companies are following in the footsteps of Michael Saylor’s Strategy, which has accumulated more than 650k Bitcoin (BTC). 

The global mainstream adoption of HYPE, led by institutional investors, will ultimately push altcoin towards its all-time high in the near future.

Technical rebound fueled by mainstream adoption of decentralized perpetual trading In the daily timeframe, HYPE/USD price has formed a potential reversal pattern. After a bullish rebound from the support level around $29.5, HYPE price has formed a potential double bottom, coupled with a bullish divergence of the daily Relative Strength Index (RSI).

Source: TradingView

The midterm bullish outlook for HYPE is fueled by the mainstream adoption of perpetual trading by retail traders. Almost all top crypto exchanges, led by Binance and Bitso, have explored the development of onchain perp trading.

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Stablecoin regulation is moving forward.

Ethereum (ETH +8.09%) is up 10.1% in the last 24 hours as of 3:34 p.m. ET on Tuesday. The jump comes as the S&P 500 notched up 0.4% and the Nasdaq Composite gained 0.7%.

Ethereum reversed yesterday's decline after Federal Reserve Vice Chair Michelle Bowman told legislators that the Fed will work to create a framework for stablecoins within the banking system.

Today's Change

(

8.09

%) $

223.33

Current Price

$

2985.16

New stablecoin rules are coming
On Monday, Bowman addressed the House Financial Services Committee, telling committee members that she would work with fellow regulators to "encourage innovation in a responsible manner," and that stablecoins could help create a more efficient banking system, but that it was her responsibility to ensure their use doesn't disrupt the "safety and soundness" of the financial system.

The banking industry's adoption of stablecoins could massively accelerate their use across the economy, which in turn would put upward pressure on Ethereum's value.

Image source: Getty Images.

Ethereum also received a boost from Vanguard, the world's second-largest asset manager. The company announced that investors can now trade Ethereum, Bitcoin, and other cryptocurrency ETFs on its brokerage platform.

It's a bumpy road ahead
While stablecoins could find a substantial footing within banking, I think the current decline in crypto prices will continue for some time and could get much worse before it gets better. But for more risk-tolerant investors with a long investment horizon, Ethereum is a solid pick.

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

Michael Burry has intensified his longstanding criticism of Bitcoin, claiming that the cryptocurrency's rise to six-figure levels is a sign of a speculative bubble not tied to any quantifiable fact.

Bitcoin’s latest 30% slide hasn’t rattled Grayscale Research, which argues that the decline mirrors historical patterns and is unlikely to mark the beginning of a prolonged downturn.

Summary

Grayscale Research says Bitcoin’s recent 30% pullback is normal for a bull market and does not signal the start of a deep, multi-year downturn.
Privacy-focused tokens outperformed in November, while new XRP and Dogecoin exchange-traded products hit the market amid expanding U.S. crypto ETP offerings.
Fed rate cuts and bipartisan crypto legislation could lift crypto markets into 2026, even as valuations lag improving fundamentals.

In a new report, published Dec. 1, the asset manager said it expects Bitcoin (BTC) to notch new highs next year despite mixed short-term indicators potentially.

The pullback — the ninth meaningful drop since the current bull market began — fits squarely within Bitcoin’s typical market behavior. Since 2010, the cryptocurrency has suffered roughly 50 drawdowns of 10% or more, with an average peak-to-trough decline of about 30%

“Bitcoin investors have been rewarded for HODL-ing, but they’ve had to endure tough drawdowns along the way,” the firm wrote. The latest decline, which began in early October and extended through November, bottomed out at 32%.

Today, Bitcoin is up over 6% and trading in the $90,000 range. See below:

Source: CoinGecko
Grayscale rejects ‘four-year cycle’ doom scenario
While Bitcoin’s halving cycle has historically aligned with multi-year price patterns, Grayscale pushed back against the widespread belief that the market is due for a 2026 downturn. The firm said this cycle looks markedly different: no parabolic blow-off top, more institutional participation via exchange-traded products and digital asset treasuries, and a supportive macro backdrop.

The company also sees signs that a short-term bottom may be forming, pointing to heavily skewed put options and digital asset treasuries trading at discounts to their net asset values — indicators of reduced speculative excess.

Privacy tokens shine as AI sector slumps
Outside Bitcoin, crypto markets split sharply by sector in November. Privacy coins, like Zcash and Monero, led the gains. Whether that will last remains to be seen.

Zcash price plunged 24% on Tuesday, with analysts warning of further downside but noting that long-term charts and the privacy thesis remain intact.

Ethereum-related privacy initiatives also accelerated: Vitalik Buterin introduced a new privacy framework at Devcon, and Aztec launched its Ignition Chain.

By contrast, Grayscale’s Artificial Intelligence Crypto Sector plunged 25% despite growing adoption of some AI-linked technologies.

Near Protocol’s (NEAR) “Intents” product — which automates cross-chain transactions and has boosted the utility of Zcash — saw sharply rising traction. Coinbase’s new x402 open payments protocol also gained momentum, jumping from 50,000 to more than 2 million daily transactions in November.

The crypto exchange-traded product landscape expanded further in November as the first XRP and Dogecoin ETPs began trading after U.S. regulators approved new generic listing standards.

Lower rates, bipartisan legislation could fuel 2026 rally
Grayscale said macro conditions could provide meaningful tailwinds into year-end. A potential interest-rate cut at the Federal Reserve’s Dec. 10 meeting — and hints of additional easing next year — could weaken the U.S. dollar and boost demand for assets like Bitcoin and gold.

Reports that National Economic Council Director Kevin Hassett is the leading candidate to replace Fed Chair Jerome Powell also reinforce expectations for lower rates. Hassett previously called the Fed’s September rate cut “a good first step” toward “much lower rates.”

Another possible catalyst: continued bipartisan progress on crypto market-structure legislation in Congress. The Senate Agriculture Committee released a bipartisan draft bill in November. If crypto avoids becoming a wedge issue ahead of the 2026 midterms, the legislation could reshape institutional participation.

Despite short-term volatility, Grayscale maintains that the most significant returns will favor long-term holders. “Eventually fundamentals and valuations will converge,” the firm wrote, “and we are optimistic about the outlook into year-end and 2026.”

TL;DR

Ethereum will activate the Fusaka upgrade tomorrow, which increases rollup capacity, doubles the block gas limit, and adds native support for passkey-style signatures.
PeerDAS (EIP-7694) allows nodes to verify blob data through sampling, removing bottlenecks and potentially increasing blob throughput by nearly ten times over time.
The upgrade includes security and developer-focused EIPs (7823, 7825, 7883, 7934, 7939, 7917, 7951) and will be rolled out gradually.

Ethereum will activate its Fusaka upgrade tomorrow, the most significant since blobs were introduced in March 2024. The update aims to boost rollup capacity, improve the gas market, and add native passkey-style signature support, enabling the network to process more transactions without proportional fee increases.

The Most Significant Upgrade Since the Introduction of Blobs
The core change centers on PeerDAS, defined in EIP-7694, which lets nodes verify blob data existence by sampling small fragments rather than downloading the entire blob. This eliminates a scalability bottleneck introduced by EIP-4844 and opens the possibility of increasing blob throughput nearly tenfold over time.

Fusaka also doubles the block gas limit from 30 million to 60 million, providing more room for standard transactions and blob processing. Additionally, two follow-up forks, BPO1 on December 9 and BPO2 on January 7, will adjust blob parameters without additional code changes, further expanding capacity.

The blob fee market will be restructured via EIP-7918, which links the minimum blob base fee to execution gas. This prevents blob prices from collapsing while L1 gas remains high, keeping the data-availability market economically rational even amid usage fluctuations.

Security and Network Predictability Enhancements
Ethereum will implement several additional EIPs to strengthen network security and predictability. EIPs 7823, 7825, 7883, and 7934 limit ModExp input sizes, raise its gas cost, impose a transaction gas limit, and enforce an RLP block size cap, reducing attack surfaces and making worst-case client workloads more predictable.

For developers, EIP-7939 adds a leading-zeros opcode, facilitating bitwise operations, integer logarithms, and randomness generation. EIP-7917 establishes a deterministic block-proposer schedule, improving coordination for MEV relays and staking operators. EIP-7951 introduces a native precompile for the secp256r1 curve, used by Apple Secure Enclave, Android Keystore, and WebAuthn, enabling biometric authentication without bridges or external circuits.

Ethereum will roll out the upgrade gradually: Fusaka activates on December 3, BPO1 six days later, and BPO2 on January 7. There are no changes to staking incentives or consensus; all modifications target execution-layer throughput, gas mechanics, and developer primitives.

Ethereum Climbs 10% Ahead of Fusaka
With Fusaka, Ethereum is set to handle increased rollup activity without proportional fee increases while providing new tools for on-chain computation and user experience.

At the time of writing, Ethereum (ETH) trades at $3,024, up over 10% in the previous session. However, its volume is down 18% compared to yesterday, though it still exceeds $27.5 billion. Market reactions to Fusaka will become clearer tomorrow and in the following days

Vitalik Buterin recently sent a 256 ETH grant to two messaging projects, Session and SimpleX Chat, without the usual ecosystem fanfare.

The gesture was modest in size but pointed in intent, because both applications occupy a part of the internet that rarely gets real support: metadata-resistant communication.

Their designs tackle the parts of digital messaging that encryption alone cannot protect, the structural details that reveal who is speaking, how often, and across which networks.

Buterin’s donation draws attention to this area with unusual clarity, highlighting two projects built to reduce the information that modern platforms routinely broadcast by default.

Session and SimpleX don’t rely on Ethereum, don’t use accounts tied to a blockchain, and don’t integrate with any on-chain system. They are standalone pieces of privacy engineering. What Buterin funded, based on what is publicly documented, is simply the development of two messaging systems built around stronger defaults.

That narrow scope is what makes the donation interesting, because these two projects approach privacy from angles that most mainstream apps avoid: routing design and identity design.

The two apps that actually received fundingSession: a metadata-hardened routing system built around onion paths and pseudonymous keysThe Session whitepaper outlines a messaging network structured around public-key identities and a relay system designed to obscure the relationship between sender and recipient. Every user is represented by a keypair rather than a phone number or email address, and every message travels through a multi-hop onion-routing path that splits awareness across several nodes so that no single relay can observe both ends of a conversation.

To reduce exposure further, messages are stored among decentralized clusters of nodes known as “swarms,” which hold encrypted messages temporarily so users do not have to be online at the same time. Swarms store ciphertext without knowing what it contains, and the routing layer intentionally fragments the information available to each relay.

The network also incorporates a staking requirement for node operators, a Sybil-resistance measure that raises the cost of creating large fleets of malicious relays. The protocol described in the whitepaper emphasizes metadata as a first-order privacy risk, framing its routing and storage choices around limiting what intermediaries can learn. The effect is a system where communication leaves a significantly smaller observable footprint than conventional centralized messaging, even when content encryption is taken for granted.

SimpleX: a messaging model that avoids user identifiers entirelySimpleX takes a different approach, documented in its protocol specification: instead of trying to hide metadata behind complex routing, it minimizes metadata by eliminating persistent user identifiers altogether. The network doesn’t assign usernames, numbers, or any form of stable ID. Users connect through one-time invitations or QR codes, and each relationship is handled as its own cryptographic channel with unique keys, isolated from all others.

Messages are relayed through SimpleX servers that act as transport mechanisms rather than identity hubs. Servers see packets but lack any information that links them to a user or conversation graph. All state (contacts, channels, and message history) is stored locally on the user’s device. Relationship discovery happens between endpoints, not on a server.

Because the protocol has no global notion of identity, the usual metadata surfaces evaporate. There is nothing for a server to correlate, nothing to harvest, and nothing that reveals the structure of a user’s social network. Where Session builds a hardened routing pipeline, SimpleX creates a communication model where the network has almost nothing to observe in the first place.

Together, these designs represent two interpretations of privacy engineering grounded in the specifics of each protocol rather than in marketing slogans.

Why this grant matters, even with its limited scopeThe size of the donation is far smaller than most funding rounds in crypto, but the signal it sends is clearer than many larger initiatives. Communication tools occupy a strange position in digital infrastructure: everyone relies on them, yet most applications treat privacy as a layer that can be added later, rather than a property that must be engineered from the foundation upward. Session’s routing design and SimpleX’s identifier-free model both start from the opposite end of the spectrum.

Ethereum’s ecosystem has spent years wrestling with questions around privacy, scalability, and user experience, but blockchains are inherently poor at protecting communication patterns. The default behavior of global broadcast doesn’t translate well into private conversations, nor is it meant to. Messaging systems built for privacy have to design around a different set of threats, which is exactly what these two projects do.

By directing funds toward these two projects, Buterin is acknowledging that private communication is a prerequisite for a healthier internet, even if that communication happens entirely outside Ethereum. Nothing in the whitepapers or repositories suggests integration with wallets, smart contracts, or decentralized applications: the protocols stand alone. But privacy tools don’t need to be blockchain-native to matter to a blockchain ecosystem, because users who interact with on-chain systems still live most of their digital lives off-chain.

The donation arrives during a quieter phase of the market, when the absence of hype makes it easier to see which parts of digital infrastructure deserve attention. These apps are open-source, rely on distributed volunteer or community-run infrastructure, and benefit directly from marginal increases in funding, which makes a relatively small grant meaningful.

Privacy as an architectural starting pointVitalik Buterin’s 256 ETH donation doesn’t outline the future of Ethereum, and it’s not a roadmap for on-chain privacy. What it does is highlight two systems that take privacy seriously at the protocol level, each addressing a different aspect of the metadata problem that dominates modern communication. Session focuses on reducing what routing nodes can infer, while SimpleX avoids building identifiers that can be inferred in the first place.

These approaches are grounded in their respective whitepapers and stand as concrete examples of what privacy engineering looks like when it begins at the base layer rather than as an optional feature. If the future of the internet requires stronger guarantees about who sees what, and when, these are the kinds of systems that will need support, even if they never touch a blockchain.

Mentioned in this article

The first U.S.-listed exchange-traded fund tracking the value of Chainlink’s native token, LINK, went live on the New York Stock Exchange on Tuesday. The launch sent the LINK price soaring by double digits as investors celebrated the development.

First Spot LINK ETF Enters US Market
Grayscale Investments listed its Grayscale Chainlink Trust ETF with the ticker symbol GLNK on NYSE Arca, a subsidiary of the NYSE Group.

The ETF gives investors regulated access to Chainlink via traditional brokerage accounts. It’s the first ETF in the United States tracking LINK, and it is under the Investment Company Act of 1940.

Chainlink operates as an oracle network that connects blockchains to external data and is widely adopted by national governments, leading decentralized finance protocols, and top financial institutions.

“Chainlink’s decentralized oracle network is setting the market standard for verifiable data and cross-chain connectivity that underpins tokenization and DeFi across public blockchains,” Inkoo Kang, the senior vice president of ETFs at Grayscale, posited in a statement. “With GLNK, investors can gain exposure to this foundational infrastructure in the familiar ETP wrapper.”  

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Like several other of the asset manager’s ETFs, the Grayscale Chainlink Trust will be a conversion of the firm’s existing private placement LINK trust into an ETF structure, five years after it was established in 2020. 

Pro-crypto SEC Chairman Paul Atkins, taking the helm this year, has seen the floodgates open for crypto-focused ETFs in the US, with funds tied to assets like Solana, Ripple’s XRP, and Dogecoin all getting approved for trading.

Bitwise is another issuer that has a spot Chainlink ETF in the works.

LINK is currently the 19th-largest crypto by market cap, according to CoinGecko data. The token rose 12.5% over the last 24 hours on the ETF news, trading hands at $13.39 as of press time. LINK, however, remains 74.6% away from its historic all-time high of $52.70, which was set back in May 2021.

Key NotesCoinbase's New York listing triggered substantial buying momentum despite December's largest token unlock event.The rally pushed SUI above the Keltner mid-band with strong volume support indicating genuine accumulation phase.Breaking $1.92 resistance would invalidate the November downtrend and target the $2.72 pivot point from October.
SUI

SUI
$1.60

24h volatility:
20.6%

Market cap:
$5.99 B

Vol. 24h:
$1.09 B

rallied 21% on Tuesday after Coinbase exchange confirmed that New York residents can now trade the asset across its web and mobile applications. The listing announcement triggered significant buying pressure, with the token outperforming rival altcoins throughout the trading session.

The Coinbase listing’s impact proved particularly notable given its timing, arriving less than 24 hours after SUI’s $86.86 million token unlock. Despite the supply surge typically associated with bearish pressure, the New York listing accelerated upside bets on SUI on Tuesday, reversing the bearish sentiment that had built up ahead of the unlock.

Sui (SUI) is now available to New York residents on coinbase․com & in the Coinbase iOS & Android apps.

— Coinbase Markets 🛡️ (@CoinbaseMarkets) December 1, 2025

According to Cryptorank, SUI’s unlock outpaces all other upcoming releases this month. Aster follows closely with an $86.84 million unlock on Dec. 17, while LayerZero and Pump.fun are set to release $33.70 million and $31.22 million worth of tokens, respectively. Arbitrum and Aptos also feature on December’s issuance calendar, but none matched SUI’s unlock size or price movement this week.

SUI’s $86.86 million token unlock is the highest for December 2025 | Source: Cryptorank

SUI’s 21% price rebound outperformed its rival altcoins Litecoin

LTC
$82.89

24h volatility:
7.7%

Market cap:
$6.34 B

Vol. 24h:
$593.79 M

and Hedera

HBAR
$0.15

24h volatility:
8.5%

Market cap:
$6.16 B

Vol. 24h:
$203.12 M

which gained 9% respectively, while Avalanche

AVAX
$13.64

24h volatility:
7.6%

Market cap:
$5.85 B

Vol. 24h:
$532.91 M

added 8%, confirming the New York listing’s strong market impact.

SUI Price Forecast: Can Bulls Maintain Momentum Above the Keltner Mid-Band?
SUI price prodded above $1.6 in Tuesday’s breakout, pushing decisively above the Keltner mid-band for the first time in nearly three weeks. The move also pulled SUI price closer to the upper volatility band at $1.9, which now forms the next short-term resistance.

The intraday rally was supported by considerable spot purchases with the +14.6M volume delta reading its strongest positive print since early November.

The rally lifted SUI RSI to 44.41, breaking from deeply neutral territory and signaling early trend rotation rather than overextension.

SUI Technical Price Analysis | TradingView

While the descending Keltner upper-band trajectory still caps upside attempts, a decisive close above $1.92 would invalidate the November downtrend and open the path toward the next pivot point at $2.72 near the local top triggered October’s sharp decline.

On the downside, $1.32 remains the main support. It aligns with the lower Keltner boundary and served as the consolidation base through late November. Losing this level would pull SUI back into a continuation of the November sell-off, exposing the October lows at $0.56.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

Ibrahim Ajibade on LinkedIn