Market Signal Briefing

Zevia PBC (ZVIA) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Amy Taylor - CEO, President & Director
Girish Satya - EVP, CFO & Principal Accounting Officer

Conference Call Participants

Anne Mcguinness
James Salera - Stephens Inc., Research Division
Sarang Vora - Telsey Advisory Group LLC
Andrew Strelzik - BMO Capital Markets Equity Research
Eric Serotta - Morgan Stanley, Research Division

Presentation

Operator

Greetings, and welcome to the Zevia PBC Q3 2025 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Anne Mcguinness, Investor Relations. Thank you. You may begin.

Anne Mcguinness

Thank you, and welcome to Zevia's third quarter 2025 earnings conference call. On today's call are Amy Taylor, President and Chief Executive Officer; and Girish Satya, Chief Financial Officer and Principal Accounting Officer. By now, everyone should have access to the company's third quarter 2025 earnings press release and investor presentation made available this afternoon. This information is available on the Investor Relations section of Zevia's website at investors.zevia.com.

Before we begin, please note that all financial information presented on today's call is unaudited. Certain comments made on this call include forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs concerning future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Please refer to today's press release and other filings with the SEC for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

During the call, we will use some non-GAAP

Recommended For You

Ripple CEO Brad Garlinghouse is championing a breakthrough year marked by record growth, a $500 million strategic investment, and surging XRP momentum, underscoring crypto's rapid ascent as a driving force in global finance.

Ripple has announced a major partnership with Mastercard, WebBank, and Gemini to pilot blockchain-based settlement using its RLUSD stablecoin. The initiative, unveiled at Ripple Swell 2025, aims to bring faster, more transparent, and compliant settlement processes to traditional fiat card payments.

This collaboration marks a significant step in merging regulated digital assets with conventional financial infrastructure, paving the way for mass adoption of blockchain in everyday transactions. The project will use Ripple’s RLUSD stablecoin on the XRP Ledger to facilitate settlements for the Gemini Credit Card, which is issued by WebBank.

According to Ripple, the RLUSD pilot will initially focus on enabling Mastercard and WebBank to settle credit card transactions on-chain, offering faster clearing times while ensuring compliance with existing regulatory standards. The company said this integration could redefine how payment networks handle settlement without changing how consumers make purchases.

Mastercard emphasized that the partnership aligns with its broader strategy to integrate regulated digital assets responsibly. The company reaffirmed that consumer protection, transparency, and compliance remain central to every stablecoin-related initiative. Mastercard views this project as a way to explore open-loop stablecoin settlement while maintaining the security standards of its global network.

Ripple’s President, Monica Long, stated that institutions are increasingly recognizing the potential of blockchain-based settlement to improve global financial systems. She added that RLUSD and the XRP Ledger provide the necessary speed, low fees, and reliability to modernize institutional payment operations.

WebBank echoed similar sentiments, noting that banks can act as vital bridges between blockchain technology and traditional finance. The bank believes that stablecoin-based settlement can significantly enhance the efficiency and reliability of fund movement.

Gemini, whose credit card will be the first to leverage RLUSD settlement, said this integration demonstrates how blockchain can facilitate real-world payments, moving beyond the confines of crypto trading platforms. The exchange believes that the RLUSD-backed card settlement will demonstrate how on-chain technology can enable seamless daily transactions.

The initiative comes at a time when Ripple is expanding its payment and treasury solutions globally, backed by a recent $500 million funding round following a year of record institutional growth.

Ripple expects this collaboration to encourage more card programs and financial institutions to explore stablecoin settlement solutions. As the payments industry continues to evolve, the company envisions RLUSD playing a crucial role in achieving faster, transparent, and efficient cross-network settlements.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.

Hiren Patel

Hiren is a SEO Expert and content writer with a passion for all things cryptocurrency. With two years of experience in the Crypto industry, He has a wealth of knowledge about blockchain technology and the crypto market. He is always on the lookout for new and exciting blockchain projects to work on and is dedicated to helping these projects succeed in the ever-evolving crypto landscape.

Journalist

Posted: November 6, 2025

Key Takeaways
Is Dogecoin reacting to Elon Musk’s latest post?
Not really. Social buzz spiked, but price and on-chain activity stayed quiet.

What’s the current state of DOGE’s traders?
Open interest has dropped to $690 million, so traders are losing confidence.

Elon Musk is at it again.

The tech leader’s latest post on X has once again put Dogecoin [DOGE] in the spotlight. The memecoin saw a brief surge in social chatter following his comment.

But so far, the market response has been far less enthusiastic.

Musk’s post reignites DOGE buzz
Elon Musk’s brief “It’s time” post on X quickly caught the Dogecoin community’s attention.

Source: X

The update came as a reply to a fan account referencing Musk’s 2021 promise to send a literal Dogecoin to the moon; a statement that once fueled massive rallies and brought DOGE into mainstream conversation.

This time, however, the reaction has been more restrained, with traders watching to see whether Musk’s latest comment will translate into real momentum.

All talk, no walk
Between Musk’s post and press time, social metrics have spiked considerably.

Source: Santiment

DOGE’s Social Volume and Social Dominance jumped to multi-day highs, signaling renewed attention. However, Santiment data also showed that the on-chain picture hasn’t caught up.

Source: Santiment

Daily Active Addresses hovered near 37.7K, Transaction Volume fell to $125 million, and Whale Transactions (> $1 million) dropped to just five at press time.

While optimism is in the air, the actual numbers are staying relatively quiet.

Bulls on the sidelines

Source: CoinGlass

Open Interest has steadily declined to around $690 million, so trader participation is waning. Meanwhile, the Funding Rates remained slightly positive at 0.16%, so long positions still outweighed shorts. However, this was without strong confidence.

On the price chart, DOGE traded near $0.16 at press time, struggling to find a footing after a steep drop. The RSI was around 30, indicating oversold conditions, while volume remained muted.

Source: TradingView

It seems traders have learned not to chase Musk’s hype… even when it’s about a coin built on it. How Dogecoin responds this time is still anyone’s guess.

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The Ethereum price latest market slump has placed Wall Street veteran Tom Lee’s ambitious $1.3 billion in ETH treasury bet under severe pressure, as whales and institutional funds begin to retreat from the world’s second-largest crypto asset.

Related Reading: Here’s Why The Bitcoin Price Is Crashing – The OGs Are Selling

Ethereum’s Price Drop and Bitmine’s Mounting Losses
Ethereum has fallen over 20% in two days, sliding below $3,300 and erasing more than $1 billion in leveraged positions. The correction has pushed ETH down about 30% from its August peak, marking its weakest level since mid-July.

According to 10x Research, Lee’s company, Bitmine Immersion Technologies Inc., which acquired 3.4 million ETH at an average price of $3,909, now faces paper losses exceeding $1.3 billion.

Backed by billionaire Peter Thiel, Bitmine adopted a Bitcoin-style corporate treasury model, but its funds are now “fully invested and under strain,” leaving little room for defensive moves.

Bitmine’s market capitalization-to-NAV ratio has plunged from 5.6 in July to 1.2, while its stock has tumbled 70% from its peak, reflecting a sharp reassessment of crypto-treasury valuations.

Another Ethereum-holding firm, ETHZilla, has already liquidated $40 million worth of ETH to restore its balance sheet, signaling growing corporate capitulation across the sector.

ETH's price trends to the downside with small profits on the daily chart. Source: ETHUSD on Tradingview
Whales Retreat as Liquidations Rise
On-chain data from Arkham Intelligence indicates that a large Ethereum whale recently offloaded 5,570 ETH ($19.56 million) to Binance, resulting in a loss of $2.15 million. This move amplified selling pressure amid weak liquidity. ETH’s market cap has now dropped to around $400 billion, with the token down 17% weekly.

Technical indicators paint a cautious picture. ETH has fallen below its 50-day moving average ($4,094), with the RSI near 31, suggesting near-oversold conditions but no confirmed reversal. Analysts warn that failure to hold the $3,300 support could trigger a deeper correction toward $3,000–$2,700 zones.

Institutional Demand Fades, but Fundamentals Remain Intact
After attracting over $9 billion in ETF inflows during the summer rally, Ethereum products have since seen $850 million in outflows, while futures open interest has dropped by $16 billion. Retail enthusiasm has also waned, with Google search interest for Ethereum now just 13% of its yearly peak.

Despite the downturn, Ethereum’s network fundamentals remain strong. It continues to process the highest on-chain value among smart contract platforms, and Vitalik Buterin’s proposed Layer-2 upgrade aims to cut rollup withdrawal times to one or two days, potentially boosting adoption.

Related Reading: Top Crypto Exchange Expands To Latin America With Argentina And Brazil Market Entry

However, for now, Lee’s high-stakes Ethereum wager stands as a cautionary tale of over-leveraged optimism colliding with a cooling market, leaving investors to wonder whether Bitmine’s billion-dollar loss marks the start, or the bottom, of Ethereum’s latest cycle.

Cover image from ChatGPT, ETHUSD chart from Tradingview

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XRP price started a recovery wave from $2.050. The price is now back above $2.25 and might attempt to surpass the $2.420 resistance zone.

XRP price was able to start a recovery wave above $2.20.
The price is now trading above $2.250 and the 100-hourly Simple Moving Average.
There was a break above a bearish trend line with resistance at $2.240 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could continue to move up if it clears $2.420.

XRP Price Starts Recovery
XRP price extended losses below $2.25 and $2.20, like Bitcoin and Ethereum. The price dipped below the $2.150 and $2.120 levels.

A low was formed at $2.066, and the price recently started a recovery wave. There was a move above the $2.20 and $2.25 levels. The price climbed above the 50% Fib retracement level of the downward move from the $2.552 swing high to the $2.066 low.

Besides, there was a break above a bearish trend line with resistance at $2.240 on the hourly chart of the XRP/USD pair. The price is now trading above $2.250 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2.40 level.

Source: XRPUSD on TradingView.com
The first major resistance is near the $2.420 level and the 76.4% Fib retracement level of the downward move from the $2.552 swing high to the $2.066 low, above which the price could rise and test $2.480. A clear move above the $2.480 resistance might send the price toward the $2.550 resistance. Any more gains might send the price toward the $2.650 resistance. The next major hurdle for the bulls might be near $2.720.

Another Decline?
If XRP fails to clear the $2.420 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.280 level. The next major support is near the $2.250 level.

If there is a downside break and a close below the $2.250 level, the price might continue to decline toward $2.20. The next major support sits near the $2.120 zone, below which the price could continue lower toward $2.060.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.280 and $2.250.

Major Resistance Levels – $2.40 and $2.420.

Tangem is moving to link self-custody with everyday payment use without altering how users hold their assets. 

Summary

Users can spend USDC globally with a virtual Visa card while assets remain fully onchain.
Rollout begins late November across the U.S., LATAM, and APAC+, with EU/UK planned for early 2026.
No monthly or transaction fees; Tangem Wallet privacy remains unaffected by Tangem Pay KYC.

The company has introduced Tangem Pay, allowing people to spend onchain USDC using a virtual Visa card while keeping funds under their own control. 

The rollout and details were confirmed in a Nov. 6 announcement by the company.

Spending USDC directly from a self-custodied wallet
Tangem Pay sits inside the existing Tangem Wallet app as a non-custodial payment account. Users fund the account with USD COIN (USDC) on the Polygon (POL) network and can spend online or in stores, including through Apple Pay or Google Pay, without converting funds ahead of time. 

The balance remains onchain until the moment of purchase, when USDC is converted 1:1 into USD through Visa’s payment rails. Tangem emphasizes that users retain private-key control. The security model uses two keys, where the user holds one key and the issuing partner Rain holds the other only for confirming card authorizations.

Rain cannot move funds that have not been deliberately spent. Tangem notes that identity verification applies only to Tangem Pay and does not affect the privacy of the Tangem Wallet itself. 

There are no monthly account or transaction fees, with only normal Polygon gas fees and Visa’s standard foreign exchange charges applying to overseas purchases. Support begins with native USDC on Polygon because of low latency and lower transaction costs, with plans to expand to more stablecoins and networks over time.

Rollout regions and expansion plan
The launch begins later this month and users will be activated gradually from a waitlist. The rollout covers a wide group of regions across the United States, Latin America, and parts of Asia-Pacific, including major markets such as Japan, Singapore, Hong Kong, Australia, South Africa, and the UAE. A physical card version is set to arrive later. 

Tangem expects to expand into the United Kingdom and the European Union in the first quarter of 2026, timing the rollout to match regulatory requirements under MiCA. 

The company describes the model as offering real-world utility without compromising what it sees as the core ethos of crypto custody.

Follow up to the hour updates on what is happening in crypto today, November 06. Market movements, crypto news, and more!

In brief
Bitcoin bounced to $103,400 from a $99,600 low, with 28% of supply now held at a loss.
Analysts are split: some see a historic buy signal, others warn it's a technical bounce.
It comes as Galaxy Digital’s head of research has lowered his year-end Bitcoin price target from $185,000 to $120,000.
The crypto market is showing tentative signs of a recovery following a bruising sell-off, leaving traders grappling with a critical question.

The upward swing saw Bitcoin bounce from Wednesday’s intraday low of $99,600 to trade around $103,400, according to CoinGecko data. 

But is it the start of a sustainable rebound or a temporary respite before further declines?

“Liquidity behind Bitcoin is starting to make a recovery,” on-chain analyst Willy Woo wrote in a tweet on Wednesday, suggesting that a price confirmation could follow in two weeks.

Bitcoin has shed roughly 25% from its October peak, pushing the supply of coins held at a loss to 28.1%, CryptoQuant data shows.

Historical data show that such supply losses have often preceded price reversals. A spike in this metric to 27% in April 2025 preceded a 70% rally in Bitcoin. Back in September 2024, it kicked off a 125% surge.

Still, some analysts caution that the current bounce lacks the hallmarks of a proper recovery. 

“What we are looking at right now is a technically driven rebound, being supported by spot inflows and leveraged short-covering,” Shawn Young, Chief Analyst at MEXC Research, told Decrypt. “So it’s not necessarily a resurgence of long-term conviction.” 

The market needs to see consistent on-chain accumulation by long-term holders and stabilized funding rates for this bounce to become an enduring bottom, Young said.

“The recent relief bounce could come across as active dip-buying, but it is not yet eligible to be considered a full-scale recovery signal,” Young added.

For bulls, the $100,000 zone is forming as a potential accumulation range that could fuel a mid-term recovery into 2026, Jiehan Chen, Operations Onboarding Lead Analyst at Schroders, told Decrypt. The weekly candlestick close needs to hold above $103,000, he said.

For bears, the current uptick is a standard bear market bounce within a cooling cycle. If the trend persists, the dip buying zone could extend from $93,000 to $88,000, experts previously told Decrypt.

The recent drop has also caused Alex Thorn, head of research at crypto investment and infrastructure company Galaxy Digital, to lower his end-of-year target for Bitcoin from $185,000 to $120,000, signaling tempered expectations after the recent selloff.

The deciding factor or pivotal catalyst that could put this outlook on its head is the macro backdrop. Chen expects a period of choppiness ahead unless a positive catalyst, like an end to the government shutdown, changes the underlying economic outlook.

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A new Galaxy Digital research note argues that Zcash’s startling comeback is not just a chart phenomenon but the visible edge of a broader privacy rotation—and that the coin’s fundamentals and user experience have changed enough to merit a market repricing. Published on November 4, 2025, the report asks why ZEC “has suddenly soared” and points to a confluence of cultural, market-structure, and product-level shifts that have pushed privacy from afterthought to headline feature. “After years of languishing, ZEC has surged ~8x in the past month,” Galaxy writes, a move that has “forced a fresh conversation about privacy as a feature.”

Why Is Zcash Skyrocketing?
Galaxy’s central contention is that Zcash’s technology is finally meeting consumers where they are. The team highlights Electric Coin Company’s Zashi wallet, launched in 2024 and iterated this year, which “abstracts away the complexity of the shielding UX,” and integrates NEAR’s intent layer to let users express outcomes—swap this into ZEC; pay that address—without manual bridging or multi-app choreography.

In Galaxy’s terms, NEAR Intents allow users to state the “intention (like ‘pay X amount of ETH to address y’)” while autonomous executors route liquidity and settle across chains, enabling flows into and out of Zcash’s shielded pools with minimal on-chain breadcrumbing. The report stresses that Zcash’s native view keys enable selective disclosure for audits and compliance, framing the new stack as both accessible and institution-compatible.

That usability shift lands alongside a visible on-chain change: for the first time in Zcash’s history, more than 30% of supply now sits in shielded pools, with Orchard hosting the majority of roughly 4.9 million shielded ZEC.

Galaxy’s analyst captures the privacy economics in a single line: “The larger the shielded pool, the harder it is to trace flows,” before adding the corollary—“A bigger anonymity set equals stronger privacy.” Transparent supply has fallen by nearly 3 million ZEC this year, from about 14 million to roughly 11.4 million, a redistribution that strengthens the very property Zcash was built to deliver.

The narrative shift is also being reinforced by market-structure signals. In what Galaxy calls the “clearest sign that Zcash is ‘so back,’” Hyperliquid listed ZEC perpetuals a few weeks prior to the note, expanding access and leverage for traders and lifting liquidity. Open interest reached roughly $115 million as of October 30, a mechanical tailwind that can translate into greater spot volatility on the way up—and down.

Importantly, the report refuses to pretend Zcash is unchanged under the hood. It places Zcash’s zk-SNARK-powered privacy in the lineage that began with Zerocoin and Zerocash, and then enumerates the protocol’s upgrade path—from Sapling (2018) to NU5/Orchard (2022) and NU6 (2024’s in-protocol lockboxes)—as the foundation for today’s UX. The research underscores that Zcash remains proof-of-work with a 21 million cap and ~75-second blocks, i.e., a monetary skeleton familiar to Bitcoiners but with encrypted transfers at the core.

Can ZEC Price Rally Further?
The cultural context matters here. Galaxy explicitly situates the rally amid a renewed debate that rhymes with Bitcoin’s earliest years: privacy as a right versus transparency as regulatory necessity. The note cites high-profile voices on both sides, including critics of “coordinated token pumps” and defenders who argue that “transparent crypto won’t survive a government crackdown,” while reminding readers that Satoshi himself acknowledged Bitcoin’s privacy limits. The upshot is not a verdict on regulators, but an observation that the market is repricing privacy as a first-class feature rather than a niche accessory.

Risks and frictions are not waved away. Galaxy points to Zcash’s relatively small node footprint—roughly 100–120 full nodes in recent counts—compared with Bitcoin’s tens of thousands and Monero’s thousands, and explains why: verifying shielded transactions is more resource-intensive, the multi-pool architecture adds complexity, and frequent network upgrades require operator vigilance. The technical roadmap is meant to address those constraints; the note flags Sean Bowe’s “Project Tachyon” as a prospective throughput and sync overhaul “without introducing a new shielded protocol,” an efficiency push Galaxy likens in spirit to Solana’s Firedancer.

Where does this leave the core question—can Zcash rally further? Galaxy does not offer a price target. Instead, it frames the upside case as contingent on whether today’s intent-driven UX and swelling anonymity set translate into durable, organic activity. The mechanics are straightforward: if more assets are brought into ZEC via NEAR Intents and shielded, the anonymity set continues to deepen; if Zashi’s integrations keep compressing user friction—on-ramping, swapping, and private payments—Zcash’s “privacy by design” becomes less of an ideal and more of a default behavior.

As Galaxy puts it, “Zcash is gaining visibility as its privacy stack finally reaches consumer-grade usability… As more ZEC gets shielded, the anonymity set grows and allows Zcash to become more private.”

But the same feedback loops can run in reverse. A thinner node set is more brittle in adverse conditions; leverage-led liquidity can unwind as fast as it forms; and the political economy of privacy—long Zcash’s biggest headwind—remains outside the protocol’s control. Galaxy’s conclusion, therefore, is deliberately narrow and empirical: the rally has already “succeeded in forcing the market to reprice privacy,” putting Zcash back in the arena after years on the sidelines.

Whether price strength persists will hinge less on narrative than on continued real usage of intents-based swaps, growing shielded supply, and tangible improvements to the network’s operational footprint.

At press time, ZEC traded at $463.98.

ZEC bulls face the 1.272 Fib extension, 1-week chart | Source: ZECUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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Chainlink and SBI Digital Markets are moving closer together in their work on tokenized finance.

Summary

SBI Digital Markets will use Chainlink’s CCIP as its exclusive cross-chain infrastructure.
The partnership supports tokenized real-world assets across public and private blockchains with privacy and compliance controls.
It advances SBI Digital Markets’ plan to operate a full digital asset hub for issuance, settlement, and secondary trading.

The two companies have signed a new partnership aimed at linking traditional financial systems with blockchain-based asset markets.

SBI Digital Markets announced the collaboration in a Nov. 6 press release, confirming that Chainlink’s cross-chain interoperability protocol will serve as the exclusive infrastructure for interoperability across its digital asset platform.

Building a cross-chain digital asset hub
SBI Digital Markets, the digital asset division of Japan’s SBI Group, is evolving its platform beyond the issuance and distribution of tokenized assets. Customers will be able to issue, settle, and trade tokenized securities on several networks, including public and permissioned blockchains, thanks to the new phase.

The partnership builds on previous work conducted under Singapore’s Project Guardian, a regulatory initiative backed by the Monetary Authority of Singapore. In that pilot, Chainlink (LINK), UBS Asset Management, and SBI Digital Markets automated some parts of the fund administration process using blockchain-based workflows.

With Chainlink CCIP acting as the interoperability layer, SBI Digital Markets will enable the private transfer of tokenized funds, tangible assets, and stablecoins between jurisdictions. CCIP’s Private Transactions feature shields private trade, settlement, and order data from public mempools.

Expanding tokenization with institutional standards
Chainlink’s Automated Compliance Engine, a policy-based compliance system that applies regulatory rules to on-chain transactions, is also being assessed by SBI Digital Markets. This aims to make it possible for tokenized assets to transfer between markets without violating legal restrictions.

The long-term goal is to create a global hub for regulated digital assets that can link custodians, asset managers, banks, and blockchain-native liquidity venues. Chainlink’s role is to provide the technical standards that make these interactions possible at scale, while SBI Digital Markets develops the commercial and regulatory framework.

Executives from both companies said the partnership represents another step in aligning traditional capital markets infrastructure with emerging tokenized asset markets, particularly in Asia and Europe where demand for regulated digital securities is rising.

Solana started a fresh decline below the $162 zone. SOL price is now attempting to recover and faces hurdles near the $166 zone.

SOL price started a fresh decline below $165 and $162 against the US Dollar.
The price is now trading below $165 and the 100-hourly simple moving average.
There was a break above a key bearish trend line with resistance at $155 on the hourly chart of the SOL/USD pair (data source from Kraken).
The price could continue to move up if it clears $165 and $166.

Solana Price Attempts Recovery Wave
Solana price failed to remain stable above $175 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $170 and $165 support levels.

The price gained bearish momentum below $160. A low was formed at $145, and the price recently started a recovery wave. There was a move above the 23.6% Fib retracement level of the downward move from the $188 swing high to the $145 low.

Besides, there was a break above a key bearish trend line with resistance at $155 on the hourly chart of the SOL/USD pair. Solana is now trading below $165 and the 100-hourly simple moving average.

Source: SOLUSD on TradingView.com
On the upside, immediate resistance is near the $165 level. The next major resistance is near the $166 level and the 50% Fib retracement level of the downward move from the $188 swing high to the $145 low. The main resistance could be $172. A successful close above the $172 resistance zone could set the pace for another steady increase. The next key resistance is $180. Any more gains might send the price toward the $188 level.

Another Decline In SOL?
If SOL fails to rise above the $166 resistance, it could continue to move down. Initial support on the downside is near the $160 zone. The first major support is near the $155 level.

A break below the $155 level might send the price toward the $148 support zone. If there is a close below the $148 support, the price could decline toward the $142 zone in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $155 and $148.

Major Resistance Levels – $165 and $166.

Speaking at 1 p.m. ET on Wednesday, day one of the two-day America Business Forum in Miami, Florida, President Donald J. Trump urged the United States to embrace crypto and sketched an ambition for U.S. leadership. “We are here … to embrace a vital industry here in Miami,” he said.

Trump cast his administration as reversing hostility in Washington: “I’ve also signed historic executive orders to end the federal government’s war on crypto. Crypto was under siege. It’s not under siege anymore.”

He argued the sector is sizable and backed by business leaders: “Because it’s a big industry. It’s a big industry, and I have a lot of people that are great people, great business people. They’re in other businesses, but they’re in crypto too.”

He linked digital assets to the U.S. currency: “And it takes a lot of the pressure off the dollar. It does a lot of good things, but we’re into it.” He contrasted his stance with the prior administration: “Biden was vicious on crypto. They were going after these crypto guys. It was terrible. They were under indictment.” (Trump then digressed to his own legal battles, which were not about crypto.)

Trump framed the goal as national leadership: “We’re making the United States the Bitcoin superpower, the crypto capital of the world,” and tied his tech message to AI by calling the U.S. “the undisputed leader in artificial intelligence.”

Looking abroad, he warned of competitive pressure: “And don’t forget, if we don’t do the crypto properly, China … China wants to do it. They’re starting it, but they want to do it. Other countries want to do it. If we don’t do it properly — it’s a big industry.”

His Miami remarks emphasized positioning over new specifics; he did not announce fresh timelines or agency directives.

This year, the White House took steps consistent with that posture, including creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile using coins obtained through federal seizures and forfeitures; however, there have been no government bitcoin purchases.

A stablecoin framework advanced via the GENIUS Act, signed into law on July 18, while broader market-structure legislation continues to progress. Trump’s team has also rejected a U.S. central bank digital currency, presenting crypto policy as compatible with dollar primacy.

The move marked the token’s strongest daily gain in a week and outperformance against a declining broader market, with traders now eyeing a clean push toward $2.50.Updated Nov 6, 2025, 5:20 a.m. Published Nov 6, 2025, 5:20 a.m.

(CoinDesk Data)

What to know: XRP surged 4.9% to $2.35, breaking key resistance on increased institutional volume.Ripple, Mastercard, and others launched a stablecoin settlement pilot using RLUSD on the XRP Ledger.Traders view the pilot as a validation of Ripple's infrastructure beyond cross-border remittances.XRP rallied 4.9% to $2.35 in Tuesday’s session, breaking through key $2.30 resistance on near-doubled institutional volume. The move marked the token’s strongest daily gain in a week and outperformance against a declining broader market, with traders now eyeing a clean push toward $2.50.

News BackgroundInstitutional flows rotated back into XRP as risk assets corrected elsewhere, with large holders accumulating near $2.30 following a week of compression. Three consecutive hourly candles broke through resistance on rising volume, signaling conviction-driven breakout behavior.Adding to sentiment, Ripple, Mastercard, WebBank, and Gemini jointly launched a stablecoin-based settlement pilot using RLUSD on the XRP Ledger to process fiat credit card payments. The initiative marks one of the first tests by a regulated U.S. bank to settle real-world card transactions directly over a public blockchain. RLUSD, which recently surpassed $1 billion in circulation, operates under New York’s Trust Charter, providing a regulated framework for stablecoin-backed payment rails.Traders interpreted the pilot as a potential validation of Ripple’s infrastructure beyond cross-border remittances — broadening enterprise use cases at a time when stablecoin settlements are becoming the preferred on-chain banking mechanism.Price Action Summary• Breakout sequence triggered after $2.30 reclaim on 164M volume
• Session high hit $2.39 before light profit-taking
• Support now anchored at $2.32; prior resistance turned base
• Momentum held through final hour consolidation between $2.34–$2.35
• XRP registered higher highs and maintained a clean breakout channel

STORY CONTINUES BELOW

Technical Analysis• Trend: Bullish reversal confirmed by higher low formation
• Support: $2.32 (new base), $2.21 (secondary)
• Resistance: $2.38–$2.39 immediate barrier; upside target $2.50–$2.60
• Volume: 95% surge vs 24-hour average confirms institutional conviction
• Momentum: RSI rising, no exhaustion signals yet
• Structure: Clean breakout above prior consolidation; intraday volatility 7.4%

What Traders Are Watching• Whether XRP can sustain closes above $2.35 and flip $2.38–$2.39 into support
• Continuation of RLUSD-led institutional narrative as Mastercard tests on-chain settlements
• Volume consistency post-breakout — key for confirming fund-driven follow-through
• Pullback risk toward $2.30 if momentum fades
• ETF and regulatory updates through mid-November that could reinforce bullish flows

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Shielded adoption surged, with 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.Project Tachyon, led by Sean Bowe, aims to boost throughput to thousands of private transactions per second.Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.View Full Report

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SummaryLucid reported disappointing Q3 results, missing revenue estimates and posting its largest quarterly operating loss in four years.LCID's ongoing cash burn raises concerns about liquidity, with another capital raise likely as Gravity SUV production ramps up.Despite recent share price declines, LCID trades at a premium to most EV peers, while its fundamentals continue to deteriorate. JasonDoiy/iStock Unreleased via Getty Images

After the bell on Wednesday (November 5th), we received third-quarter results from Lucid (LCID). The luxury electric vehicle maker has been one of the most disappointing names in the market in recent

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.

Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from a broker or financial adviser before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.

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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Schrödinger, Inc. (SDGR) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Jaren Madden - Chief Corporate Affairs Officer & Head of Investor Relations
Ramy Farid - CEO, President & Director
Richie Jain - Executive VP, CFO & Treasurer
Karen Akinsanya - President, Head of Therapeutics R&D and Chief Strategy Officer & Partnerships

Conference Call Participants

Mani Foroohar - Leerink Partners LLC, Research Division
Scott Schoenhaus - KeyBanc Capital Markets Inc., Research Division
Matthew Hewitt - Craig-Hallum Capital Group LLC, Research Division
Conor MacKay - BMO Capital Markets Equity Research
Dennis Ding
Brendan Smith - TD Cowen, Research Division
Michael Ryskin - BofA Securities, Research Division

Presentation

Operator

Thank you for standing by. Welcome to Schrodinger's conference call to review third quarter 2025 financial results. My name is Rob, and I'll be your operator for today's call. [Operator Instructions] Please be advised that this call is being recorded at the company's request.

Now I would like to introduce your host for today's conference, Ms. Jaren Madden, Chief Corporate Affairs Officer and Head of Investor Relations. Please go ahead.

Jaren Madden
Chief Corporate Affairs Officer & Head of Investor Relations

Thank you, and good afternoon, everyone. Welcome to today's call during which we will provide an update on the company and review our third quarter 2025 financial results. Earlier today, we issued a press release summarizing our financial results and progress across the company, which is available on our website at schrodinger.com.

Here with me on our call today are Ramy Farid, Chief Executive Officer; Richie Jain, Chief Financial Officer; and Karen Akinsanya, President, Head of Therapeutics R&D and Chief Strategy Officer, Partnerships. Following our prepared remarks, we'll open the call for Q&A.

During today's call, management will make statements that are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation

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Diane Smith-Gander

Good morning. My name is Diane Smith-Gander. And as Chair of the Board, it is my pleasure to welcome you to the Annual General Meeting for Zip Co Limited. I will be chairing the meeting today. It is now 10:00 a.m., and as there is a quorum present, I declare the meeting open, and confirm that the AGM has been properly constituted.

As we are meeting virtually today, if we experience any technology issues, a short recess or an adjournment may be required depending on the number of shareholders affected. If this occurs, I will advise you on the approach.

I am joining you today from Sydney. I'd like to begin by acknowledging the traditional custodians of the land, the Gadigal people of the Eora Nation. I acknowledge and respect their continuing culture and the contribution they make to the life of this city and region. I pay my respects to their Elders past and present. As you are joining this meeting virtually and many from other parts of the country, I also pay my respects to the traditional owners of the lands on which you are participating from.

In opening the meeting, let me introduce my fellow Board members and the Zip executives who are present in this room or online. Firstly, Zip Group CEO and Managing Director, Cynthia Scott; and our Independent Nonexecutive Directors, Meredith Scott; Matthew Schuyler, who is attending virtually from the United States, and Andrew Stevens. We are waiting for Kevin Moss, who will also join us virtually from the United States. But as we're having a small technical difficulty at the moment, I'm hoping he will join us expeditiously.

Encore Capital Group, Inc. (ECPG) Q3 2025 Earnings Call November 5, 2025 5:00 PM EST

Company Participants

Bruce Thomas - Vice President of Global Investor Relations
Ashish Masih - President, CEO & Director
Tomas Hernanz - Executive VP, Treasurer & CFO

Conference Call Participants

John Rowan - Janney Montgomery Scott LLC, Research Division
Mark Hughes - Truist Securities, Inc., Research Division
Zachary Oster - Citizens JMP Securities, LLC, Research Division
Robert Dodd - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Encore Capital Group's Third Quarter 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Bruce Thomas, VP of Global Investor Relations for Encore. Please go ahead.

Bruce Thomas
Vice President of Global Investor Relations

Thank you, operator. Good afternoon, and welcome to Encore Capital Group's Third Quarter 2025 Earnings Call. Joining me on the call today are Ashish Masih, our President and Chief Executive Officer; Tomas Hernanz, Executive Vice President and Chief Financial Officer; Ryan Bell, President of Midland Credit Management; and John Yung, President of Cabot Credit Management.

Ashish and Tomas will make prepared remarks today, and then we'll be happy to take your questions. Unless otherwise noted, comparisons on this conference call will be made between the third quarter of 2025 and the third quarter of 2024. In addition, today's discussion will include forward-looking statements that are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results could differ materially from our expectations.

Please refer to our SEC filings for a detailed discussion of potential risks and uncertainties. We undertake no obligation to update any forward-looking statement. During this call, we'll be using rounding and abbreviations

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Noodles & Company (NDLS) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Michael Hynes - Chief Financial Officer
Joseph Christina - President, CEO & Director

Conference Call Participants

Todd Brooks - The Benchmark Company, LLC, Research Division
Ivan Yu - Jefferies LLC, Research Division

Presentation

Operator

Good afternoon, and welcome to Noodles & Company's Third Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded.

I would now like to introduce your host, Noodles & Company's Chief Financial Officer, Mike Hynes. Thank you. You may begin.

Michael Hynes
Chief Financial Officer

Thank you, and good afternoon, everyone. Welcome to our third quarter 2025 earnings call. Here with me this afternoon is Joe Christina, our Chief Executive Officer. I'd like to start by going over a few regulatory matters. During the call, we may make forward-looking statements regarding future events or the future financial performance of the company. Any such items should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements are only projections, and actual events or results could differ from those projections due to a number of risks and uncertainties, including those referred to in this afternoon's news release and the cautionary statement in the company's annual report, on Form 10-K and subsequent filings with the SEC.

During the call, we will discuss non-GAAP measures, which we believe can be useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measures is available in our third quarter 2025 earnings release.

To the extent that the company provides guidance, it does so only on a non-GAAP

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LegalZoom.com, Inc. (LZ) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Madeleine Crane - Head of Investor Relations
Jeffrey Stibel - CEO & Chairman
Noel Watson - CFO & COO

Conference Call Participants

Eleanor Smith - JPMorgan Chase & Co, Research Division
Patrick McIlwee - William Blair & Company L.L.C., Research Division
Trevor Young - Barclays Bank PLC, Research Division
Michael McGovern - BofA Securities, Research Division
Matthew Condon - Citizens JMP Securities, LLC, Research Division
Lucas Cerisola

Presentation

Madeleine Crane
Head of Investor Relations

Thank you, operator. Welcome to LegalZoom's Third Quarter 2025 Earnings Conference Call. Joining me today is Jeff Stibel, our Chairman and Chief Executive Officer; and Noel Watson, our Chief Operating Officer and Chief Financial Officer.

As a reminder, we will be making forward-looking statements on this call. These forward-looking statements can be identified by the use of words such as believe, expect, plan, anticipate, will, intend and similar expressions and are not and should not be relied upon as a guarantee of future performance or results. Such forward-looking statements are based on management's assumptions and expectations and information available to us as of today's date. These forward-looking statements are also subject to risks and uncertainties that could cause actual results to differ materially from such statements. These risks and uncertainties are referred to in the press release we issued today and in the Risk Factors section of our most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission. Except as required by law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise.

In addition, we will also discuss certain non-GAAP financial measures. We use non-GAAP measures in making decisions regarding our business, and we believe these measures provide helpful information to

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Quantum-Si incorporated (QSI) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Risa Lindsay
Jeffrey Hawkins - President, CEO & Director
Jeffry Keyes - CFO & Treasurer

Conference Call Participants

Alexander Vukasin - Canaccord Genuity Corp., Research Division
Scott Henry - Alliance Global Partners, Research Division
Swayampakula Ramakanth - H.C. Wainwright & Co, LLC, Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Quantum-Si Third Quarter Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Risa Lindsay. Please go ahead.

Risa Lindsay

Good afternoon, everyone, and thank you for joining us. Earlier today, Quantum-Si released financial results for the third quarter ended September 30, 2025. A copy of the press release is available on the company's website. Joining me today are Jeff Hawkins, our President and Chief Executive Officer; as well as Jeff Heyes, our Chief Financial Officer.

Before we begin, I would like to remind you that management will be making certain forward-looking statements within the meaning of the federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated. Additional information regarding these risks and uncertainties appears in the section entitled Forward-Looking Statements of our press release. For a more complete list and description of risk factors, please see the company's filings made with the Securities and Exchange Commission. This conference call contains time-sensitive information that is accurate only as of the live broadcast date today, November 5, 2025. Except as required by law, the company disclaims any intention or obligation to update or revise any forward-looking statements.

During this call, we will also be referring to certain financial measures

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Pulse Biosciences, Inc. (PLSE) Q3 2025 Earnings Call November 5, 2025 4:30 PM EST

Company Participants

Paul LaViolette - President, CEO & Co-Chairman of the Board
Jon Skinner - Chief Financial Officer

Conference Call Participants

Philip Taylor - Gilmartin Group LLC
Suraj Kalia - Oppenheimer & Co. Inc., Research Division

Presentation

Operator

Hello, and thank you for standing by. My name is Mark, and I will be your conference operator today. At this time, I would like to welcome everyone to the Pulse Biosciences' Q3 2025 Earnings Call.

[Operator Instructions] Now I would like to turn the call over to Trip Taylor, Investor Relations. Please go ahead.

Philip Taylor
Gilmartin Group LLC

Thank you, operator. Before we begin, I would like to inform you that comments and responses to your questions during today's call reflect management's views as of today, November 5, 2025, only, and will include forward-looking statements and opinion statements, including predictions, estimates, plans, expectations and other similar information. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are more fully described in our press release issued earlier today and in our filings with the U.S. Securities and Exchange Commission. Our SEC filings can be found on our website or the SEC's website. Investors are cautioned not to place undue reliance on forward-looking statements. We disclaim any obligation to update or revise these forward-looking statements. We also discuss certain non-GAAP financial measures. Disclosures regarding these non-GAAP financial measures, including reconciliations with the most comparable GAAP measures can be found in the press release.

Please note that this conference call will be available for audio replay on our website at pulsebiosciences.com in the News and Events section on our Investor Relations page.

With that, I would now

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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.

National Australia Bank Limited (OTCPK:NABZY) Q4 2025 Earnings Call November 5, 2025 6:30 PM EST

Company Participants

Sally Mihell - Head of Investor Relations
Andrew Irvine - MD, Group CEO & Director
Shaun Dooley - Acting Group Chief Financial Officer

Conference Call Participants

Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division
Andrew Lyons - Jefferies LLC, Research Division
Victor German - Macquarie Research
Richard Wiles - Morgan Stanley, Research Division
Ed Henning - CLSA Limited, Research Division
Andrew Triggs - JPMorgan Chase & Co, Research Division
Brian Johnson - MST Financial Services Pty Limited, Research Division
Matthew Wilson - Jarden Limited, Research Division
Brendan Sproules - Goldman Sachs Group, Inc., Research Division
Thomas Strong - Citigroup Inc., Research Division
Matthew Dunger - BofA Securities, Research Division

Presentation

Operator

Thank you for standing by, and welcome to the National Australia Bank Full Year 2025 Results Presentation. Go ahead, please.

Sally Mihell
Head of Investor Relations

Thank you, operator. Good morning, and thank you for joining us today for NAB's full year 2025 results. I'm Sally Mihell, Head of Investor Relations.

I would like to acknowledge the traditional owners of the land from which I join you today, the Gadigal people of the Eora Nation. I'd like to pay respect to the elders past and present and to the elders of the traditional lands from which you join us.

Presenting today will be Andrew Irvine, our Group CEO; and Shaun Dooley, our Group CFO. We are also joined in the room by members of NAB's executive team. Following the presentations, there will be an opportunity for analysts and investors to ask questions.

I'll now hand to Andrew.

Andrew Irvine
MD, Group CEO & Director

Thank you, Sally, and good morning, everyone. NAB's full year 2025 results reflect a higher underlying profit, supported by strong balance sheet and revenue growth in the second half. Cash earnings and return

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Herbalife Ltd. (HLF) Q3 2025 Earnings Call November 5, 2025 5:30 PM EST

Company Participants

Erin Banyas - Head of Investor Relations
Stephan Gratziani - President & CEO
John DeSimone - Chief Financial Officer

Conference Call Participants

William Reuter - BofA Securities, Research Division
Song Xue - Mizuho Securities USA LLC, Research Division
Karru Martinson - Jefferies LLC, Research Division
Hale Holden - Barclays Bank PLC, Research Division
Douglas Lane - Water Tower Research LLC

Presentation

Operator

Good afternoon, and thank you for joining the Third Quarter 2025 Earnings Conference Call for Herbalife Limited. [Operator Instructions] As a reminder, today's conference call is being recorded.

I would now like to turn the call over to Erin Banyas, Vice President and Head of Investor Relations, to begin today's call. You may begin.

Erin Banyas
Head of Investor Relations

Thank you, and good morning, good afternoon or good evening to everyone joining us. Joining us today are Stephan Gratziani, our Chief Executive Officer; and John DeSimone, our Chief Financial Officer.

Before we begin today's call, I would like to direct you to the cautionary statement regarding forward-looking statements on Page 2 of our presentation and in our earnings release issued earlier today, which are both available under the Investor Relations section of our website.

The presentation and earnings release include a discussion of some of the important factors that could cause results to differ from those expressed in any forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. As is customary, the content of today's call and presentation will be governed by this language.

In addition, during today's call, we will be discussing certain non-GAAP financial measures. These non-GAAP financial measures exclude certain unusual or nonrecurring items that management believes impact the comparability of the periods referenced.

Please refer to our

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