Track market-moving stories before they get noisy

On October 29, 2026, Chainlink launched Chainlink 24/7, extending its real-world asset pricing to weekends and holidays. The company says Aave is using the Data Feeds version in Horizon, its institutional lending platform, starting with high-volume U.S. equities used as collateral.

The new reference combines prices from traditional trading sessions with quotes from perpetual futures venues when those markets close. The weekend price is a derivatives-market reference linked to the underlying asset. Chainlink says it is not a live quote from the closed traditional exchange. Lending markets would use this derivatives reference to value eligible collateral while the underlying exchange is closed.

What replaces the weekend freeze Chainlink’s earlier weekday service covered pre-market, regular, post-market and overnight trading. Its launch announcement identifies the remaining gap as running from 8 p.m. ET Friday to 8 p.m. ET Sunday, plus market holidays. Applications previously had to pause, retain the last available price or construct their own off-hours methodology and switching logic.

During active sessions, the new service draws on existing Chainlink 24/5 data. Once the traditional market closes, it aggregates quotes from multiple perpetual venues, filters stale inputs and limits the influence of outliers. Chainlink says supported assets must meet its requirements for market coverage, liquidity and pricing consistency. The announcement does not name the contributing perpetual venues or publish their weights.

Chainlink calls its method for moving between these inputs session-aware stitching. The company says this builds on the blending engine used for its tokenized equity pricing, maintaining continuity while preserving immediate price discovery at the regular-session opening bell. Developers receive a continuous reference per supported asset instead of assembling the session-selection layer themselves.

The existing weekday equities guide shows the integration work this replaces. Instruments have separate regular, extended and overnight streams, and users must switch between them according to the reported market status. The guide also requires custom handling for unknown status and closures. That documentation describes the older session-specific streams, not a requirement to rebuild the new unified reference.

Delivery depends on the application. Data Feeds publish prices onchain for lending contracts to read. Data Streams allow perpetual exchanges and prediction markets to retrieve low-latency reports offchain. The public Data Streams documentation describes signed reports available through SDKs, REST and WebSocket interfaces, with onchain verification in the transaction that consumes them.

Chainlink also identifies short-duration prediction markets as a use case. Its announcement proposes time-weighted average pricing as the reference for resolving asset-price outcomes and helping prevent price manipulation.

What changes for collateral valuation According to Chainlink, Horizon is using the feeds to price tokenized real-world assets pledged as collateral, beginning with high-volume U.S. equities. The announcement identifies that starting asset class but does not enumerate the tokens, publish Horizon’s new feed addresses or specify collateral-factor changes. The scope of adoption across Aave equity markets is unspecified.

Chainlink says the continuously updated valuation is designed for liquidations, allowing lending risk parameters to operate beyond traditional market hours. For positions using the new feeds, collateral valuation can respond to off-hours derivatives trading instead of waiting for the underlying exchange to reopen. The announcement does not provide a new borrowing limit or liquidation threshold for those positions.

Streams also carry market-session information and bid and ask prices during open sessions. Chainlink says applications can use that context to adapt risk settings as conditions change. The session information lets an operator distinguish active exchange pricing from the off-hours component when deciding which risk settings to apply.

The public weekday guide separates market status from freshness. Status determines which session is active, while timestamps describe when data was recorded. Its mid-price timestamp applies only to the mid price, not to bid and ask prices or their volumes. Those fields may have different update times, so a fresh mid-price timestamp cannot establish freshness for the entire report. The guide also says bid and ask volumes represent one order book at a time, not combined liquidity across equity venues. Operators should not treat them as a measure of total market depth.

The same guide warns that extended and overnight weekday streams currently rely on a single data provider, unlike multi-sourced regular-hours prices. It describes cases where a technically fresh report can contain an incorrect mid price produced by an outlier quote. The documented safeguards include spread checks, value bounds and price-deviation checks, alongside staleness monitoring. Those are limitations of the existing weekday inputs, distinct from the launch’s multi-venue off-hours methodology.

The weekday guide directs operators to monitor exchange notifications for trading halts, which are not reflected in the market-status field. It also warns that corporate actions can interrupt symbol-specific overnight data without changing that status. Continuous delivery still requires application-level decisions about when a reported price is safe to use for a trade or liquidation.

The feed methodology remains asset-specific Chainlink already publishes extended-hours feed documentation covering precious metals and forex. Each asset class has a separate methodology and risk profile, the documentation warns. The new announcement’s perpetual-based description should not be read as a replacement specification for every feed carrying a round-the-clock label.

The documented metals approach uses spot prices during open market hours. During closures, it starts from the last observed spot price and adjusts it with a blended signal from tokenized precious-metals streams. The forex documentation describes crypto-derived exchange rates and warns that they measure a different market from official, interbank or institutional references. Such rates can diverge materially from the prices available through banking channels.

Chainlink’s launch post leaves the supported-asset roster, perpetual-venue weights and Horizon feed addresses unspecified. Teams seeking to integrate the new service are directed to contact Chainlink.

Gold (XAU/USD) remains under pressure near $4,000, as stronger-than-expected United States (US) economic data reinforce expectations of another Federal Reserve (Fed) interest rate hike in December. Economic growth is accelerating, inflation remains elevated, and borrowing costs could rise further.

Key Takeaways UDR's preliminary Q3 results show 1.8% same-store revenue growth, 1.6% NOI growth and 96.5% occupancy.Blended lease rate growth of 2% and contained expense growth of 2.2% supported preliminary Q3 performance.UDR raised its 2026 adjusted FFO guidance to $2.54-$2.56 per share and NOI growth outlook to 0.8%-1.2%.
UDR Inc. (UDR - Free Report) , a premier multifamily real estate investment trust (REIT), is set to announce its third-quarter 2026 results after the closing bell on Nov. 2. Its quarterly results are likely to reflect a dip in revenues and funds from operations (FFO) per share.

In the last reported quarter, this Denver, CO-based residential REIT came up with an FFO as adjusted per share of 64 cents, surpassing the Zacks Consensus Estimate of 63 cents. The quarter benefited from stronger leasing, steady occupancy and better-than-expected same-store results.

In the last four quarters, UDR’s FFO as adjusted per share met the Zacks Consensus Estimate on two occasions and surpassed it twice, the average surprise being 1.19%. The graph below depicts the surprise history of the company:

As we approach the release of UDR's third-quarter 2026 earnings report, it is important to examine how this residential REIT is likely to have performed amid the current market conditions.

US Apartment Market in Q3The U.S. multifamily residential market continues to recover, supported by strong rental demand, declining supply and improving occupancy. According to Cushman & Wakefield’s third-quarter 2026 report, national multifamily vacancy declined 30 basis points sequentially to 8.6%, its lowest level in three years. Net absorption reached nearly 350,000 units during the first nine months of 2026, up 14% year over year, reflecting resilient renter demand.

Meanwhile, new apartment deliveries declined 25% year over year to approximately 250,000 units, while the construction pipeline fell to its lowest level since 2015. Annual asking rent growth accelerated to 2.3% in the third quarter from 1.1% in the first quarter, with average monthly rents reaching $1,950. High financing costs are slowing new developments, supporting a gradual recovery across Sunbelt markets.

Factors to Consider Ahead of UDR’s Upcoming ResultsUDR enters its third-quarter 2026 earnings release with operating trends largely on track. Preliminary results indicate same-store revenue growth of 1.8% and net operating income (NOI) growth of 1.6%, supported by blended lease rate growth of 2% and occupancy of 96.5%. Same-store expense growth remained contained at 2.2%, reflecting continued operating efficiencies and cost controls.

Coastal markets are expected to remain the primary growth drivers, with San Francisco and New York benefiting from strong rental demand and limited new supply. Healthy renewal pricing and lower resident turnover should continue to support occupancy and aid cash flow. However, supply-related pricing pressure across Sunbelt markets, particularly Nashville and Florida, could constrain rental growth despite signs of improvement.

For earnings, UDR expects third-quarter adjusted FFO of 65 cents per share at the high end of its previous guidance of 63-65 cents, up from 64 cents in the preceding quarter. On Oct. 21, 2026, management also raised its full-year adjusted FFO outlook to $2.54-$2.56 per share from previously guided $2.49-$2.57 and increased its same-store NOI growth guidance to 0.8%-1.2% from the previously guided range of flat to 1.25% growth.

Projections for UDRWe expect UDR’s occupancy to be 96.5%, a 10-basis-point sequential decline. We estimate same-store revenues to grow 1% year over year for the third quarter.

The Zacks Consensus Estimate for quarterly revenues is currently pegged at $427.47 million. This indicates a marginal year-over-year fall.

Before the third-quarter earnings release, the company’s activities were inadequate to gain analysts’ confidence. The Zacks Consensus Estimate for quarterly FFO, adjusted per share, has remained unrevised at 64 cents over the past three months, suggesting a 1.54% year-over-year decrease.

Here Is What Our Quantitative Model Predicts for UDROur proven model does not conclusively predict a surprise in terms of core FFO per share for UDR this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.

UDR currently carries a Zacks Rank of 3 and has an Earnings ESP of -0.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks That Warrant a LookHere are two stocks from the broader REIT sector, Innovative Industrial Properties (IIPR - Free Report) and Summit Hotel Properties (INN - Free Report) , which you may want to consider, as our model shows that these have the right combination of elements to report an FFO beat this quarter.

Innovative Industrial Properties is slated to report quarterly numbers on Nov. 2. IIPR has an Earnings ESP of +1.64% and carries a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Summit Hotel Properties is slated to report quarterly numbers on Nov. 3. INN has an Earnings ESP of +0.96% and a Zacks Rank of 2 at present.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Michael Burry, the investor made famous by "The Big Short," has added one of retail’s most dismissed names to his portfolio.

In a Thursday morning post on his Substack, Cassandra Unchained, Burry said he rates Build-A-Bear Workshop Inc. (NYSE:BBW) a full 6% position in the low-to-mid $20s. He called the stock a "fat pitch" on valuation at $25.

Burry argued a buyout at 10x EBITDA would put the stock around $60 to $65 per share. Shares trade near $25, down from a closing high of $75.85 in September 2025.

BBW stock is climbing. See the chart and price action here. Cheap by Almost Any MeasureBuild-A-Bear trades at roughly 7x estimated 2026 earnings of about $3.50 per share, according to Burry. The company carries no financial debt, trades below 4x EBITDA and sits at less than 2x tangible book value. Its market cap is under $300 million, against EBITDA of roughly $80 million.

Burry compared the stock with toy wholesalers, which trade at up to 15x earnings despite weaker margins and returns on capital.

He also pointed to Pop Mart International Group Ltd. (HKEX:9992), which sells plush collectibles to adults and trades above 30x earnings. Build-A-Bear says teens and adults now make up 40% of its buyers.

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A Different Company Burry described a business rebuilt over more than a decade. In 2012, about 20% of stores lost money and 85% sat in traditional malls.

Management shortened leases, moved into tourist sites and small "concourse" stores, and signed partners such as Carnival Corp. (NYSE:CCL) and Landry’s, which pay for their own buildouts.

By 2021, at least 97% of North American stores were profitable, according to Burry. Maintenance capital spending now runs under $10 million a year.

Capital returns have been heavy. Buybacks and dividends from 2022 through 2025 total more than half the current market cap, and the share count has fallen 25% from its 2021 peak. Another $40.5 million remains authorized, or roughly 13% of the company at current prices.

The Bear Case Is RealBurry acknowledged the near-term pain. Second-quarter revenue fell 7.2% to $115 million, comparable store sales dropped 9.5% and gross margin slipped 335 basis points. 

Management cut full-year guidance for the second time this year, and the loss of a Walmart Inc. (NYSE:WMT) program erased growth in the commercial segment.

Tariffs on a supply chain concentrated in China and Vietnam have also weighed on results. New CEO Chris Hurt, who took over in June, has not bought shares in the open market, and Burry warned a "kitchen sink" quarter could still be ahead.

Read Next

Sizing the BetBurry said investors already heavy in consumer names should keep the position smaller. His own portfolio holds Deckers Outdoor Corp. (NYSE:DECK), Lululemon athletica inc. (NASDAQ:LULU), Sprouts Farmers Market Inc. (NASDAQ:SFM) and Birkenstock Holding plc (NYSE:BIRK).

He expects a couple more rough quarters from Build-A-Bear. Still, Burry sees parallels to 2000 through 2005, when bombed-out retail stocks turned into some of the market’s best performers.

Short sellers hold 26.68% of the BBW float, according to Benzinga Pro. Good news could move the stock fast.

BBW Stock Price Activity: Build-A-Bear stock was up 8.68% at $27.35 on Thursday, according to Benzinga Pro market data.

Photo: Shutterstock

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Polkadot’s native token DOT dipped below $1 this week, trading at $0.98 at 10:23 UTC on October 29, 2026, based on CoinGecko data. This price marks a steep decline of approximately 98% from its peak of $54.98 in November 2021. Over the last year, DOT has dropped 67.7% and currently holds a market capitalization of $1.68 billion, placing it 56th among major cryptocurrencies.

Persistent Weakness and Recent DevelopmentsAlthough the broader crypto market showed a neutral sentiment according to the Crypto Fear & Greed Index, which read 51 on October 29, analysts have identified DOT’s price weakness as specific to the token. A recent report described DOT as “four times weaker than the field.”

The past twelve months have seen DOT’s price persistently decline, with perpetual contracts on exchanges such as Phemex closing lower for seven consecutive periods. By late October, DOT reached $0.98, its lowest since mid-September, after a brief rally toward $1.27 earlier in the month failed to hold.

Technical indicators reinforce the bearish picture, with DOT trading beneath its 7-day ($1.02), 20-day ($1.11), 50-day ($1.13), and 200-day ($1.04) simple moving averages. Chart analysts often view these averages as resistance until a strong move reverses the trend.

CoinGecko data recorded DOT at $0.9848 on October 29, 2026, with 1.71 billion DOT in circulation out of a maximum capped supply of 2.1 billion, following a significant 53.6% annual issuance reduction.

Issuance Reduction, Stablecoin Launch, and ETF ActivityIn October, Polkadot implemented a sharp cut in its annual token issuance, lowering inflation by 53.6% and capping total supply at 2.1 billion. Around 81% of the supply is already circulating, easing some selling pressure due to reduced token creation. However, analysts suggested that lower supply alone does not drive new demand for DOT.

Polkadot also launched its first native stablecoin, dotUSD, on October 8 via OpenGov Referendum 1944. During the first phase, dotUSD is minted 1:1 against USDT, with a DOT-collateralized version planned for the future. Meanwhile, Asset Hub and Bridge Hub began running runtime 2.5.1, with Asset Hub now holding over 1.7 billion DOT.

Interest from institutional investors has remained limited. The 21Shares Polkadot ETF, which became effective after SEC approval in March 2026 and added staking services through Figment in May, has seen minimal trading. As of October, the ETF held 0.54% of DOT’s circulating supply and recorded only five active trading days since launch.

CoinMarketCap interpreted the ETF’s small share of total supply as an indicator of weak institutional interest in DOT.

For those seeking to actively track Polkadot’s sharp price swings and monitor the effect of ETF activity on DOT’s performance, CryptoAppsy’s real-time charts and coin-specific news can provide timely alerts during periods of heightened volatility. These features offer practical insights as traders evaluate key support and resistance levels for DOT.

Key Price Levels, Future Scenarios, and RisksDOT’s all-time low stands at $0.727, about 26% below the current price. After ending 2025 at $1.789, DOT’s value has fallen 43.54% into late October 2026. Looking ahead, scenario-based projections for year-end 2026 place DOT in a bearish range of $0.73 to $0.90, a base case between $0.90 and $1.15, and a bullish scenario of $1.15 to $1.53. Most external forecasts from sources such as Cryptopolitan and CoinCodex fall within or just above these brackets, while priceprediction.net offers a notably higher target of $5.03.

Risks to these outlooks include ongoing volatility—DOT’s loss of 67.7% in one year illustrates the token’s vulnerability. There is also execution risk regarding the JAM (Join-Accumulate Machine) upgrade, which remains without a confirmed mainnet launch date, pushing potential implementation to 2027 or later. Stablecoin adoption, smart contract dependencies, regulatory shifts, and weak ETF traction may further influence price trends.

The Bit Journal’s assumptions for the bearish scenario anticipate further downside if the upgrade schedule slips and institutional demand remains low. The base case sees DOT trading near its current moving averages, with gradual upside if ecosystem features such as Asset Hub and dotUSD gain traction. The bullish view requires a prompt JAM rollout, a wider dotUSD use backed by DOT collateral, and a meaningful increase in ETF inflows. Even under the most optimistic outlook, DOT remains well below its historical peak.

Key Takeaways BigBear.ai's Q3 revenue jumped 31% to $43.6 million, while backlog climbed 22% sequentially to $330 million.Booz Allen raised fiscal 2027 adjusted EPS guidance to $6.50-$6.70, backed by a $40.9 billion backlog.BBAI faces persistent losses, while BAH's 75% ROE and discounted valuation strengthen its investment case.
BigBear.ai Holdings, Inc. (BBAI - Free Report) and Booz Allen Hamilton Holding Corporation (BAH - Free Report) operate in overlapping markets centered on U.S. national security, defense technology, Artificial Intelligence (AI), cybersecurity and government technology services. Both help government agencies use advanced technology to improve intelligence, strengthen security and support mission-critical decisions.

BigBear.ai is a specialized AI and decision-intelligence technology provider, with additional exposure to travel and trade, supply-chain operations, computer vision and digital identity. Meanwhile, Booz Allen is a broader advanced-technology and government solutions company, spanning national security, civil government and commercial customers, with substantial consulting, engineering, cybersecurity and defense technology capabilities.

Let's dive deep and compare the two stocks' fundamentals to determine which is the better investment now.

The Case for BigBear.ai StockNew contract wins and a growing backlog provide visibility into BigBear.ai's potential future demand. Growing demand for AI and analytics across defense, intelligence, border security and civilian agencies is creating numerous opportunities for the company. Since the second quarter of 2026, BBAI has announced more than 25 new contracts representing more than $225 million in total contract value, including government recompetes and classified national-security awards. Its backlog increased 22% sequentially to $330 million at the end of the third quarter. The company also added customers such as the FBI, U.S. Coast Guard, NASA, the Department of Energy and the Department of Veterans Affairs.

BBAI reported third-quarter 2026 revenues of $43.6 million, up 31% year over year, marking its third consecutive quarter of growth. Management raised full-year revenue guidance to $150-$165 million, with the midpoint implying approximately 23% growth over 2025. The stronger outlook suggests recent contract wins and demand for secure AI solutions are beginning to translate into sales. Revenue growth also accelerated sequentially during the quarter, strengthening management’s confidence heading into year-end and 2027.

Besides, differentiated secure-AI capabilities offer another positive for BigBear.ai. Its model-agnostic approach allows customers to access multiple AI models and build workflows while handling sensitive information in secure or disconnected environments. The company also brings mission expertise and a security-cleared workforce, attributes that can be difficult for less-specialized competitors to replicate. Beyond national security, its digital-twin and predictive-analytics offerings serve critical infrastructure and healthcare customers. Almost $400 million in cash and investments give management resources to pursue product development and carefully selected acquisitions, provided these investments generate attractive returns.

However, persistent losses and negative adjusted EBITDA remain important risks for BigBear.ai. The company recorded a third-quarter 2026 net loss of $91.9 million against net income in the year-earlier period. Adjusted EBITDA was still negative at $9.1 million, showing that the business has not yet reached operating profitability on this measure. Selling, general and administrative expenses also increased, partly due to Ask Sage amortization, higher labor and headcount, and sales and marketing spending. Investors need evidence that revenue growth can eventually produce sustainable profits and stronger cash generation.

The Case for Booz Allen StockBooz Allen’s recent earnings performance and higher profit guidance support a positive investment case despite a challenging revenue environment. In the second quarter of fiscal 2027, adjusted earnings per share increased 18.1% year over year, with adjusted EBITDA margin also improving modestly, reflecting the company’s ability to protect profitability amid revenue pressures. Management raised its fiscal 2027 adjusted EPS guidance to $6.50-$6.70 from $6.00-$6.35, signaling confidence in execution and earnings resilience. Continued cost discipline and an improving technology-focused business mix could support earnings growth, although revenue conversion remains important.

BAH’s substantial backlog and resilient national security business provide visibility into future opportunities. Total backlog reached approximately $40.9 billion at the end of the second quarter of fiscal 2027, up 1.9% year over year. Demand is supported by defense modernization, geopolitical tensions, intelligence requirements and the need for advanced capabilities at the tactical edge. These factors position Booz Allen to compete for complex government technology programs. Strong backlog and funded awards could help offset weakness in civilian markets, provided contracts convert into revenues as expected.

Booz Allen’s investments in cybersecurity, AI and defense technology could create additional growth opportunities beyond traditional consulting services. The company is developing its Vellox agentic cybersecurity suite, including Guile, which is designed to counter AI-enabled attacks in real time and has entered private beta with government and commercial customers. Management also cited strong demand for Zero Trust capabilities and cybersecurity solutions across government and commercial markets. The acquisition of Ultra I&C Mission Solutions expands its portfolio of software-centric, hardware-enabled defense products and adds an established customer base. By combining proprietary technology with its security expertise and mission relationships, Booz Allen aims to build more scalable offerings.

However, BAH’s financial flexibility warrants attention as it invests in acquisitions and new technology capabilities. The balance sheet reflected approximately $4.4 billion in debt as of Sept. 30, 2026, with net leverage rising to 3.3 times from 2.5 times a year earlier. Recent acquisitions have contributed to Booz Allen’s strategic expansion but also increased integration and capital-allocation demands. If revenue growth remains subdued or expected acquisition benefits take longer to emerge, elevated leverage could limit financial flexibility and increase pressure to sustain cash generation.

Stock Performance & Valuation Trends: Clearing the Picture?As witnessed from the chart below, shares of Booz Allen have outperformed those of BigBear.ai over the past six months.

Image Source: Zacks Investment Research

Considering valuation, over the last five years, BigBear.ai has been trading above Booz Allen on a forward 12-month price-to-sales (P/S) ratio basis.

Image Source: Zacks Investment Research

Overall, from these technical indicators, it can be deduced that BBAI stock offers a declining trend with a premium valuation, while BAH stock offers an improving growth trend with a discounted valuation.

Earnings Estimate Trends Are Poles ApartThe Zacks Consensus Estimate for BBAI’s bottom line for 2026 and 2027 indicates losses per share of 27 cents and 16 cents, respectively, which have remained unchanged over the past 60 days. However, the estimated figures for 2026 and 2027 imply year-over-year growth of 67.1% and 40.7%, respectively.

BBAI’s EPS Trend

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for BAH’s fiscal 2027 and fiscal 2028 earnings has trended upward in the past seven days to $6.51 per share and $6.83 per share, respectively. The estimated figures for fiscal 2027 imply flat year-over-year growth, while the same for fiscal 2028 indicates year-over-year improvement of 4.8%.

BAH’s EPS Trend

Image Source: Zacks Investment Research

Return on Equity (ROE) of BBAI & BAH StocksBooz Allen’s trailing 12-month ROE of 75% significantly exceeds BigBear.ai's negative average, underscoring its efficiency in generating shareholder returns.

Image Source: Zacks Investment Research

Which Stock Has More Upside Potential: BBAI Stock or BAH Stock?BigBear.ai offers substantial growth potential through new government contracts, expanding backlog and specialized secure-AI platforms. Its differentiated capabilities in intelligence, defense and border security, alongside adequate liquidity, could support expansion. However, persistent operating losses, negative adjusted EBITDA, rising expenses and uncertain cash generation remain significant concerns.

Meanwhile, Booz Allen offers a stronger financial foundation, supported by substantial backlog, resilient defense demand and improving earnings expectations. Its investments in cybersecurity, AI and defense technology could create additional growth opportunities, while cost discipline supports profitability. However, elevated debt, acquisition integration challenges and subdued revenue growth could constrain financial flexibility.

Overall, Booz Allen stock appears to be the more compelling choice for investors seeking comparatively stronger fundamentals and greater earnings visibility. Its improving earnings outlook, established government relationships and superior profitability outweigh BigBear.ai stock’s more speculative growth opportunity. As both stocks currently carry a Zacks Rank #3 (Hold), investors considering either stock may favor BAH stock while waiting for clearer evidence of durable profitability from BBAI stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways SIMO's Q3 earnings jumped 335% as revenues surged 131%, beating consensus estimates on both fronts.SSD controller sales rose 55-60%, while Ferri & Boot Drive sales soared 2,580-2,585% year over year.SIMO expects Q4 revenues of $588M-$616M, with gross margins of 54-55% and operating margins of 36-37%.
Silicon Motion Technology Corporation (SIMO - Free Report) reported strong third-quarter 2026 results, with both the top and bottom lines surpassing the Zacks Consensus Estimate. Non-GAAP earnings of $4.35 per American depositary share (ADS) increased 335% year over year and beat the consensus estimate of $3.30 by 31.82%.

Revenues surged 131% year over year to approximately $560 million, exceeding the Zacks Consensus Estimate of $533 million by 5.07%. Growth was supported by robust demand for SSD controllers and Ferri & Boot Drive solutions, with the latter witnessing a remarkable 2,580-2,585% year-over-year sales increase.

SIMO's Net Income ImprovesOn a GAAP basis, net income increased to $65.3 million or $1.91 per ADS from $39.1 million or $1.16 per ADS in the year-ago quarter. However, GAAP earnings declined sequentially from $136.1 million or $3.99 per ADS, primarily reflecting a $78 million investment loss compared with a substantial investment gain in the preceding quarter.

Non-GAAP net income climbed to $149.2 million from $33.8 million in the prior-year quarter. Sequentially, adjusted net income improved from $83.1 million, reflecting higher sales volumes and improved operating profitability across the company's storage controller and solutions businesses.

Silicon Motion's Revenues Gain on Storage DemandQuarterly revenues increased to $560.2 million from $242 million in the year-ago quarter. Sequentially, sales improved 24% from $451 million, driven by strong momentum in enterprise and edge SSD controllers, automotive storage solutions and enterprise boot drive products.

SSD controller sales increased 55-60% year over year and 20-25% sequentially, benefiting from expanding demand for edge and enterprise storage applications. Sales of embedded Multi-Media Card and Universal Flash Storage (eMMC+UFS) controllers rose 35-40% year over year but declined 10-15% sequentially.

Ferri & Boot Drive solutions sales increased 75-80% sequentially, supported by rapid adoption of automotive, edge artificial intelligence (AI) and enterprise boot drive solutions. Management highlighted growing contributions from its MonTitan enterprise and AI controllers as the company expands beyond traditional consumer storage markets.

SIMO's Margins Expand Despite Higher CostsNon-GAAP gross profit increased to $300.7 million from $117.8 million in the year-ago quarter. Gross margin expanded to 53.7% from 48.7%, reflecting improved profitability alongside strong revenue growth. Sequentially, gross margin improved from 50.2%.

Non-GAAP operating expenses increased to $120.7 million from $79.5 million a year ago. GAAP research and development expenses rose to $115.8 million from $69.5 million, reflecting the company's continued investments in storage controller technologies.

Non-GAAP operating income surged to $180 million from $38.3 million in the prior-year quarter. Operating margin expanded to 32.1% from 15.8%, highlighting the benefits of increased scale and a growing contribution from higher-value storage products.

Silicon Motion's Cash Flow and LiquidityAs of Sept. 30, 2026, Silicon Motion had cash and cash equivalents of $845.9 million compared with $74.4 million at the end of June. Cash, cash equivalents and restricted cash totaled $953.6 million, reflecting proceeds from the company's convertible senior notes offering.

Operating activities utilized $256.1 million during the quarter, compared with cash generation of $26.9 million in the year-ago period. Capital expenditures totaled $23 million, including $20.1 million for equipment, software, design tools and other routine purchases and $2.9 million for building construction.

SIMO's Capital Initiatives and Dividend GrowthDuring August 2026, Silicon Motion completed a $1.15 billion offering of 0% convertible senior notes due 2031. The company received approximately $1.13 billion in proceeds and repaid $59.2 million in bank loans during the third quarter.

The board also declared an annual cash dividend of $2.30 per ADS, representing a 15% increase. The dividend will be paid in quarterly installments of 57.5 cents per ADS, with the first payment scheduled for Nov. 19, 2026.

Silicon Motion's Outlook Signals Continued MomentumFor fourth-quarter 2026, management expects revenues between $588 million and $616 million, representing sequential growth of 5-10% and year-over-year growth of 111-121%. Non-GAAP gross margin is projected between 54% and 55%, while non-GAAP operating margin is expected between 36% and 37%.

Management expects continued momentum from enterprise and AI storage applications, supported by its expanding SSD controller portfolio and Ferri product offerings. Despite rising NAND flash prices and pricing pressures in certain consumer markets, the company expects record annual revenues in 2026, representing growth of more than 100% year over year.

Zacks RankSIMO currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming ReleasesArista Networks Inc. (ANET - Free Report) is scheduled to release third-quarter 2026 earnings on Nov. 3. The Zacks Consensus Estimate for earnings is pegged at $1.08 per share, suggesting a growth of 44% from the year-ago reported figure.

Arista has a long-term earnings growth expectation of 22.8%. Arista delivered an average earnings surprise of 8.9% in the last four reported quarters.

Akamai Technologies, Inc. (AKAM - Free Report) is slated to release third-quarter 2026 earnings on Nov. 5. The Zacks Consensus Estimate for earnings is pegged at $1.67 per share, indicating a 10.2% decline from the year-ago reported figure.

Akamai has a long-term earnings growth expectation of 5.9%. Akamai delivered an average earnings surprise of 4.8% in the last four reported quarters.

GLOBALFOUNDRIES Inc. (GFS - Free Report) is set to release third-quarter 2026 earnings on Nov. 4. The Zacks Consensus Estimate for earnings is pegged at 51 cents per share, implying a rise of 24.4% from the year-ago reported figure.

GLOBALFOUNDRIES has a long-term earnings growth expectation of 21.2%. GFS delivered an average earnings surprise of 10.9% in the last four reported quarters.

Uniswap Adds 13,137 New Addresses in Its Biggest Growth Spike Since 2020

The TJAR fee conversion tool, first built for the Uniswap Protocol, is now open to other apps, and Robinhood is already using it

Uniswap has opened up its Token Jar, known as TJAR, to the wider crypto app ecosystem. It is an onchain tool that takes the jumble of tokens an app earns in fees and turns them into the one token the team actually wants.

The pitch is simple. Instead of ending up with a junk drawer of assets, an app can collect its fees in stablecoins, its own token, or whatever it prefers.

How the Token Jar works
Crypto apps face a version of this every day. Users pay fees in whatever tokens they happen to be trading, so revenue arrives scattered across many different assets.

TJAR is Uniswap’s answer to that sprawl. An app sends its incoming fees into a Token Jar contract, where they pile up.

From there, searchers compete to convert the accumulated assets into the app’s chosen token. Searchers are third parties hunting for profitable opportunities onchain, and here they handle the swapping work.

Setup is designed to be minimal. Deploying a Token Jar takes a single transaction, which configures the target token, the price settings, and the address where converted funds should be delivered.

Those settings are not carved in stone by default. Teams can adjust them later, or they can permanently lock them if they want the configuration fixed for good.

From Uniswap plumbing to public infrastructure
TJAR did not start life as a product for other teams. It was originally built specifically for the Uniswap Protocol, handling fee conversion for Uniswap itself.

The original Token Jar has already seen meaningful use. It processed over $15.3 million in conversions from Uniswap-related activity in the previous month alone.

The system is currently live on seven blockchain networks. Uniswap has indicated that more expansions are planned.

The most recognizable early adopter is Robinhood. The brokerage uses TJAR to convert the fees it earns through the Uniswap API into stablecoins, specifically USDC and USDG.

What this means for builders and the broader market
For developers, the biggest change is that fee conversion no longer has to be a custom engineering project. Teams that would otherwise build and maintain their own swapping logic can plug into existing infrastructure instead.

The choice of target token also opens up different strategies. An app that collects fees in stablecoins gets predictable revenue it can budget around, which is the route Robinhood took.

An app that collects fees in its own token is making a different bet. It gets steady accumulation of that asset, which some teams may prefer for their own economic design.

For now, Uniswap has taken a tool that already handled over $15.3 million in monthly conversions for its own protocol and made it available to everyone else.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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New York, United States, October 29th, 2026, Chainwire

Uniswap Labs today released TJAR, permissionless infrastructure that converts an app’s onchain fees into a single token. Robinhood is the first integration partner, with more coming soon.

Today, apps that charge a fee are paid in whatever tokens their user’s trade. Over time, that adds up to thousands of different tokens, across every chain they support. Typically, consolidating these holdings into a few chosen tokens has meant building custom conversion infrastructure.

TJAR replaces that infrastructure with an open market. Apps deposit their fees into a Token Jar. Searchers compete to convert them, and the app automatically receives fees in its chosen token.

The Token Jar framework was first built for Uniswap Protocol fees. In September, Token Jar handled more than $15.3M in conversions. TJAR lets any team use the same system for its own fees.

TJAR is now live on seven chains. Documentation, deployment addresses, and guides are available on the Uniswap Developer Platform.

About Uniswap Labs

Uniswap Labs is a core contributor to the Uniswap Protocol, the world’s largest decentralized exchange, with more than $4.7 trillion in all-time trading volume. Uniswap Labs builds products trusted by millions of users and leading financial institutions to access onchain liquidity, including the Uniswap Web App, Uniswap Wallet, Uniswap API, and UniswapX.

For more information, please visit https://app.uniswap.org

Amidst a volatile altcoin market, Unisawp [UNI] is showing signs of growing network adoption and improving market momentum. 

According to Santiment’s analysis, daily active addresses on Uniswap have reportedly reached 14,591, the highest level in a year. At the same time, 13,137 new UNI addresses were created, marking the largest spike in network growth since September 2020. 

Source: Santiment/X
UNI’s price action tells us a different story
This comes as UNI’s price was trading at $7.04 at press time after a drop of 2.0% in the past 24 hours. However, the 24.8% year-to-date growth in price action suggests that this drop might be just a short-term thing. 

This means that $7 is acting as a key support level, and $7.50 is thereby serving as the next resistance zone, which could confirm the altcoins’ rally. 

Source: Trading View
Needless to say, a sustained move above $7.50 could strengthen the case for a recovery toward $8. However, a break below $7, particularly alongside declining network activity, could suggest that the recent adoption surge is temporary.

What’s behind the network’s growth?
Coming to the increase in network activity, this looks like it might have happened because of several ecosystem developments.

Starting with Aggregator Hooks that are designed to route external liquidity through Uniswap v4, potentially improving how traders access liquidity across different platforms.

Then there are these VolatilePair Hooks, which expand the protocol’s flexibility in managing pricing for volatile trading pairs.

Meanwhile, Unichain’s planned OP Enterprise upgrade on 29th October was yet another step in the development of Uniswap’s blockchain ecosystem. Together, these developments might have supported greater trading efficiency, liquidity access, and network usage.

Based on these developments, the altcoin’s protocol also generated approximately $6.112 billion in cumulative fees, including nearly $89 million over the past 30 days, as per DeFiLlama data.

Source: DeFiLlama
This has also pushed Uniswap’s trading infrastructure ahead of platforms such as Hyperliquid, Aave, and Morpho in the cited fee-generation comparison.

Additionally, Uniswap has also reportedly added $7.7 billion in year-to-date trading volume in tokenized stocks, pointing to its expanding role beyond conventional cryptocurrency swaps. 

Not everything is rosy yet
This comes as the month of October 2026 saw Uniswap’s total open interest decline sharply from September’s peak of over $600 million, falling to approximately $350 million by the 29th of October.

Source: Santiment This suggests reduced leveraged trading activity and a potential cooling in speculative demand for UNI. Meanwhile, the network realized profit/loss fluctuated around the baseline, ending near 17.5, indicating relatively muted profit-and-loss activity compared with earlier spikes. 

However, AMBCrypto’s recent report saw Uniswap witnessing significant exchange withdrawals after a Galaxy Digital-linked wallet transferred roughly $12 million in tokens over six days, raising the possibility of institutional accumulation.

Yet, taken together, these trends suggest that despite rising network adoption, derivatives market participation is showing mixed sentiments, forcing investors to keep an eye on UNI’s next price move.

Final Summary

UNI’s protocol has generated approximately $6.112 billion in cumulative fees, including nearly $89 million over the past 30 days. 
In October, Uniswap’s total Open Interest declined sharply from September’s peak of over $600 million, falling to approximately $350 million. 

Key Takeaways Ondas and Draganfly are expanding their defense drone portfolios amid rising demand for unmanned systems.Ondas secured more than $270 million in orders since June 30, boosting revenue visibility into 2027.Draganfly's Canadian defense deal offers potential for 5,000 systems, but rising expenses remain a concern.
The global drone industry has reached a pivotal growth phase driven by increasing uptake across commercial, government and military sectors.

According to a report from Mordor Intelligence, the global drone tech market is expected to witness a CAGR of 9.1% from 2027 to 2032. The convergence of drones with artificial intelligence (AI), cloud computing and edge processing is further driving adoption across verticals.

Ondas Inc. (ONDS - Free Report) and Draganfly (DPRO - Free Report) both operate in the defense and unmanned systems domain, but from very different positions in terms of scale and maturity.

These companies bring unique strengths to the table, which make this an intriguing comparison for investors.

So, the question arises: which stock makes a better investment pick at present? Let us dive into the fundamentals, valuations, growth outlook and risks for each company.

The Case for ONDSOndas’ investment appeal is supported by its rapidly expanding autonomous defense portfolio, substantial order momentum and growing exposure to mission-critical defense programs. On Oct. 7, 2026, ONDS announced that it has secured more than $165 million in aggregate orders from the second half of August through Oct. 1. This, when combined with roughly $105 million of orders disclosed on the last earnings call (Aug. 13, 2026), brings total orders to more than $270 million since June 30, improving revenue visibility into 2027.

Management noted that broad-based strength across product categories and geographies contributed to strong order activity. Importantly, the latest wins include strategically significant orders for ULTRA and IonStrike, with both platforms progressing through key customer-validation milestones. ONDS acquired ULTRA through the DZYNE buyout. ULTRA is a long-endurance autonomous aircraft delivering multi-day ISR, while IonStrike targets the growing counter-UAS market, including defense against Shahed-class drones.

The orders also include the recent $56 million Electronic Safe & Arm Devices award, supporting a European loitering munition program. This represents an important early commercial development following Ondas’ acquisition of GATE Technologies and Bron Technologies last month. In September, Ondas also acquired three defense technology businesses (Insignito, Ottopia Defense and Caribou Labs) for $56 million, payable in cash or its common stock, with potential performance-based earn-outs of up to $32 million based upon achieving key performance milestones through 2028.

ONDS is expanding its counter-drone reach through innovation. In September, Ondas launched Dronebuster REACH, extending its non-kinetic counter-UAS capabilities. The first Dronebuster REACH system is already under contract for delivery to the Office of Naval Research following customer acceptance testing. The system will support C-UAS research, evaluation and testing activities, providing an early validation point for Ondas’ new product.

ONDS is expanding its counter-drone reach through innovation. In September, Ondas launched Dronebuster REACH, extending its non-kinetic counter-UAS capabilities. The first Dronebuster REACH system is already under contract for delivery to the Office of Naval Research following customer acceptance testing. The system will support C-UAS research, evaluation and testing activities, providing an early validation point for Ondas’ new product.

Ondas is also strengthening its position in the airborne defense and aircraft protection market following the successful installation and European Union Aviation Safety Agency certification of the Airborne Missile Protection System (“AMPS”) on the Bombardier Global 7500 aircraft. Developed by its subsidiary BIRD Aerosystems, AMPS incorporates advanced missile warning, threat detection and confirmation, tracking and directional infrared countermeasures capabilities to protect aircraft against infrared-guided missile threats.

For all the excitement surrounding revenue growth, second-half ramp and profitability remain the key tests for ONDS. The company updated its full-year revenue outlook to $525-$550 million from the previous target of at least $525 million, representing more than 10 times the reported figure for 2025. At the midpoint, the outlook implies more than 30% year-over-year organic growth on a pro forma basis. The pace of order conversion and production scaling will determine whether ONDS can deliver the steep second-half ramp embedded in its outlook

Coming to profitability, second-quarter operating expenses were $199 million, substantially exceeding the quarterly revenues of $83.8 million. At the last earnings call, management cautioned about some gross-margin pressure during the second half of 2026 because of product mix and excess capacity associated with newly acquired businesses.

However, the company expects adjusted EBITDA losses to narrow beginning in the third quarter and has pulled forward its profitability timeline. Management now targets adjusted EBITDA profitability for the operating platform, including OAS and Ondas Sentinel, by the fourth quarter of 2026 and company-wide adjusted EBITDA profitability by the fourth quarter of 2027.

The rapid pace of acquisitions also creates execution risks. Integrating multiple businesses into a broader portfolio while meeting rising delivery schedules increases execution risk across systems, manufacturing and product roadmaps. Delays could slow backlog conversion and postpone expected operating leverage.

The Case for DPRODraganfly is a Canada-based drone solutions and systems developer. The company’s drones include the Commander 3XL, Heavy Lift Drone, Commander 2 and Draganfly Medical Response Drone and the Apex drone aimed at ISR, marketed for the military and public safety.

Draganfly’s recent commercial progress has strengthened its growth prospects in the military drone market. In September, the company announced a five-year contract with the Government of Canada to supply low-cost tactical ISR unmanned aircraft systems to the Canadian Armed Forces. DPRO added that the agreement includes an initial firm commitment for 100 systems, along with associated ground control stations, support equipment, payloads, data links, documentation, spare parts and training. More importantly, the contract provides options for the Canadian Armed Forces to acquire up to 4,900 additional systems, bringing the potential total to 5,000 units.

The contract followed the company's selection as a qualified supplier across all five capability streams of Canada's Defense Drone Initiative Marketplace. 

DPRO is also focused on expansion within U.S. defense markets. The company recently announced defense sales of its Heavy Lift and Commander 3XL systems across U.S. light infantry divisions. The announcement included inaugural Heavy Lift sales and follow-on Commander 3XL purchases from an existing customer already operating Draganfly's Flex systems. In October, DPRO set up Draganfly Defense USA, a subsidiary focused on expanding its footprint in the country defense markets and addressing the defense-specific compliance, regulatory and security requirements.

In September, Draganfly also received a $5 million strategic investment from Unusual Machines and a leading U.S. Investment Fund, totaling $10 million. DPRO plans to use net proceeds to advance the development of its strategic capabilities and meet working capital requirements.

Draganfly is also expanding into counter-UAS and autonomous strike applications as well as public safety applications. On the last earnings call, management highlighted its selection alongside F4 Defense International for an initial development contract by DEVCOM Army Research Laboratory for a rapidly deployable, multilayered counter-drone system. 

DPRO's colloboration with the International Association of Campus Law Enforcement Administrators provides a framework to offer drone systems, training and implementation services to affliated educational institutions. During the second-quarter earnings call, management indicated that more than 50 campuses were in its initial pipeline.

Despite its encouraging strategic progress, Draganfly's financial performance remains a significant concern. DPRO has a relatively small revenue base compared with its expanding operating expenses. Second-quarter 2026 revenues increased 26% year over year to approximately C$2.66 million while operating expenses surged to C$16.1 million. This resulted in an operating loss of C$15.6 million for the quarter. The disconnect between increasing commercial opportunities and relatively limited revenue realization remains a key concern.

Price Performance & Valuation for ONDS & DPROYear to date, both ONDS and DPRO are down 29.7% and 47.2%, respectively.

Image Source: Zacks Investment Research

ONDS trades at a forward 12-month price-to-sales ratio of 4.17X, lower than DPRO’s 4.56X.

Image Source: Zacks Investment Research

How Do the Consensus Estimates Compare for ONDS & DPRO?For both ONDS and DPRO, earnings estimates for the current year have remained unchanged over the past 60 days.

ONDS

Image Source: Zacks Investment Research

DPRO

Image Source: Zacks Investment Research

ONDS or DPRO: Which Is a Better Pick?Ondas appears relatively better positioned, backed by its considerably larger revenue base and solid order momentum. ONDS’ diversified defense portfolio gives it an edge over DPRO, which is still in the early stages of translating contract opportunities into meaningful revenues. Both

ONDS and DPRO carry a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 | Source: Dime Commercial Bancshares, Inc.

HAUPPAUGE, N.Y., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Dime Commercial Bancshares, Inc. (NYSE: DCOM, DCOM PR and DCBG) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.34375 per share on the Company’s 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on November 16, 2026 to holders of record as of November 9, 2026.

ABOUT DIME COMMERCIAL BANCSHARES, INC.

Dime Commercial Bancshares, Inc. is the holding company for Dime Commercial Bank, a New York State-charted trust company with approximately $15 billion in assets and the number one deposit market share on Greater Long Island (1).

Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Operating Officer and Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: [email protected]

 ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for commercial banks with less than $20 billion in assets.

FORWARD-LOOKING STATEMENTS
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.

Japan Tax Free, JPYC, and UPBOND are building a system to send eligible traveler refunds to wallets on Avalanche C-Chain

Tourists leaving Japan may soon get their consumption tax back in something other than cash. Japan Tax Free, JPYC, and UPBOND are developing a system that would send eligible traveler tax refunds straight to wallets on Avalanche C-Chain.

The refund arrives as JPYC, a stablecoin pegged to the Japanese yen.

How the JPYC refund system is supposed to work Japan Tax Free runs JapanRefund, a service that processes tax refunds for foreign visitors. The company has announced plans to let eligible travelers receive those refunds in JPYC.

The service is set to launch on November 1, 2026. All refund transactions will settle on Avalanche C-Chain, the network’s smart contract layer.

Travelers who already hold a compatible wallet can use it. Those who don’t will be able to set one up through UPBOND, the partner handling wallet creation.

Merchants, meanwhile, get a lighter load. Under the planned setup, shops do not handle the details of customers’ financial data.

Japan is rewriting the tax-free shopping rules anyway The timing is not a coincidence. The JPYC launch lines up with a nationwide shift in how Japan handles tax-free shopping for visitors.

Japan is moving to a “refund-upon-departure” model. It replaces the older approaches, which included point-of-sale exemptions and immediate refunds at a counter.

Under the new rules, tourists pay the full price, tax included, when they shop. They get the tax back only after customs verifies their purchases as they leave the country.

There is also a deadline. Refunds have to be completed within a 90-day limit.

That change creates a new logistics problem. Once the traveler has departed, someone has to send money to a person who is no longer in the country, possibly to a foreign bank account, possibly in a different currency.

Why use a stablecoin at all The partners have laid out three goals for the system: more efficiency, lower intermediary fees, and stronger compliance with anti-money laundering rules.

The compliance piece leans on a core feature of public blockchains. Every transaction leaves a permanent, readable record on-chain.

JPYC’s legal standing matters here JPYC is not just another crypto asset in Japan’s eyes. It is officially recognized as an electronic payment instrument under the country’s Payment Services Act.

That classification separates it from other crypto in Japanese law. It is a big reason a mainstream tax-refund operator can use it without wading into murkier regulatory territory.

The relationship between Japan Tax Free and UPBOND is not new either. The two firms announced their partnership on March 3, 2026.

According to the research findings, the effort also aligns with governmental interest in exploring blockchain technology for financial operations.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.

OpenAI's mid-tier model posts a median task cost of $0.62, making a case that cheaper can still be competitive

OpenAI’s GPT-6.1 Terra, running at its Max setting, has placed #8 in Agent Arena. It posted a 10.6% net improvement and a median task cost of $0.62.

What the numbers show
Agent Arena ranks AI models on agentic work. These are tasks where the model acts on a user’s behalf rather than simply answering questions. Terra (Max) came in eighth overall.

The 10.6% net improvement is the headline metric from the ranking. Next to it sits the cost figure: a median of $0.62 per task.

Broader evaluations put Terra’s median task costs between $0.40 and $0.62. The Agent Arena result sits at the top of that range. That fits a Max configuration, which trades extra compute for better output.

The model has posted solid scores elsewhere as well. On Terminal-Bench 4.0 it scored 50.3%, compared with 21.5% for its predecessor, GPT-5.6 Terra, at maximum effort.

Terra (Max) also achieved a 60% pass rate on the Agents’ Last Exam at max effort. It scored around 74% on OSWorld, a benchmark that measures how well a model can operate a computer the way a person would.

Where Terra fits in the GPT-6 family
OpenAI released GPT-6.1 Terra on October 26, 2026. The company designed it for cost-efficient visual reasoning, agentic tasks, and natural writing.

The target use cases include clicking through screens, filling out forms, processing invoices, and handling documents.

API pricing comes in at $1 per million input tokens and $5 per million output tokens. That makes it approximately 50% more affordable than its closest counterparts, GPT-6.1 Sol and GPT-5.6 Terra.

The model also reportedly completes tasks more than three times faster than its more expensive siblings.

Terra is available through ChatGPT Work, Codex, and the API under the model ID gpt-6.1-terra. It is not accessible through the standard ChatGPT chat interface.

It also ships with a context window of 1.05 million tokens.

Within OpenAI’s GPT-6 series, Terra occupies the middle of the menu. Sol and Astra sit above it as the high-performance models. Luna sits below as the lighter option.

Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Ondo Finance has made all seven Ondo Intelligent Portfolios available on Solana, following more than $40 million in TVL on Ethereum and BNB Chain in four weeks.

@Ondo Finance has deployed all seven of its Ondo Intelligent Portfolios on @Solana, extending a product line that adds portfolio-style asset management to onchain tokens.

The expansion follows a quick start on other networks. The portfolios run on @ethereum and @BNBChain, with Solana now added as a third network.

How the Portfolios Work and

The tokens are not available to U.S. investors.

Ondo's Existing Solana FootprintOndo is not new to the network. That figure covers the company's wider business.

John Hoffman, Managing Director and Head of Portfolios at Ondo Finance, said in the release that

Sources:

Ondo Finance press release: Ondo Intelligent Portfolios Lineup Expands to Solana (PR Newswire)

ETHNews: Ondo Brings BlackRock-Designed Portfolios to Solana Investors

Morningstar (PR Newswire): Ondo Launches Intelligent Portfolios, Powered by BlackRock

Ondo Finance announced that its Intelligent Portfolios have launched on Solana, open to eligible non-U.S. investors. All seven portfolios are offered as single on-chain transferable tokens, spanning yield, growth, and theme exposures. Three of the portfolios are based on strategies developed by BlackRock for Ondo: high-yield BLKHIon, high-growth BLKGRWon, and diversified growth BLKDIGon. The remaining four were designed by Ondo, including MAG7Xon, BRAINon, YLD5on, and YLD8on. Approximately four weeks after launch, the total value locked (TVL) of these portfolios on Ethereum and BNB Chain has exceeded $40 million. Ondo noted that its tokenized assets on Solana now hold over $500 million in TVL, with transparent portfolio holdings and programmatic rebalancing, eliminating the need for investors to manage a basket of underlying assets themselves.

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Ondo Finance announced its Intelligent Portfolios have launched on Solana for eligible non-US investors. The seven portfolios are offered as single on-chain transferable tokens, covering yield, growth, and thematic exposures. Three of the portfolios are based on strategies developed by BlackRock for Ondo: high-yield BLKHIon, high-growth BLKGRWon, and diversified growth BLKDIGon. The remaining four were designed by Ondo itself: MAG7Xon, BRAINon, YLD5on, and YLD8on. Since their launch roughly four weeks ago, the combined total value locked (TVL) of these portfolios on Ethereum and BNB Chain has exceeded $40 million. Ondo noted that its tokenized assets on Solana have a TVL of over $500 million, with transparent portfolio holdings and programmatic rebalancing, eliminating the need for investors to manage a basket of underlying assets on their own.

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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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THE STREET: Ondo brings its tokenized portfolios to Solana

Altcoins

29 October 2026
|
18:54

A sharp rally lifted Bitcoin, Ether, and Solana between 43% and 71% in the third quarter, giving the appearance of a synchronized market recovery.

Key Takeaways

Bitcoin’s NUPL spike tracked price, not fresh capital.
Ethereum fees tumbled 31% despite a 71% rally.
Solana’s quarterly fee pace eclipsed its trailing year.
Solana holders remain 7.4% underwater despite record throughput.

The figures come from Fidelity Digital Assets’ Q4 Signals Report, published October 28 with data through September 30.

Bitcoin

+43%

Q3 price

NUPL 0.09 → 0.36

Ethereum

+71%

Q3 price

Annual fees −31%

Solana

+61%

Q3 price

Q3 fee pace $224M a year

Bitcoin’s profit recovery is mostly the rally restated
Fidelity’s headline profitability metric for Bitcoin is Net Unrealized Profit/Loss (NUPL), which climbed from 0.09 to 0.36 during the quarter. As formulated by Glassnode, NUPL divides the difference between market capitalization and realized capitalization by total market capitalization. Realized capitalization prices each coin at the time it last moved onchain, establishing an aggregate cost basis for the network. A reading of 0.36 indicates that aggregate paper gains account for 36% of market value; it does not mean that 36% of active wallets or investors sit in profit.

Fidelity Digital Assets Bitcoin Net Unrealized Profit/Loss (NUPL) chart.
Because the prevailing spot price sits directly inside both the numerator and denominator of that equation, a market-wide rally mechanically elevates NUPL on its own. At the start of Q3, an initial NUPL reading of 0.09 meant the network’s realized cost basis stood at roughly 91% of its total market cap (1 − 0.09 = 0.91). If that aggregate cost basis is held unchanged while Bitcoin’s 43% quarterly price gain is applied to market value, the sensitivity formula proves that no substantial new capital was required to move the needle:

1 − (0.91 ÷ 1.43) ≈ 0.36

Coindoo’s sensitivity calculation using Fidelity’s rounded inputs

The calculation lands directly on Fidelity’s reported endpoint. While this sensitivity check cannot track individual wallet turnover, it shows that the apparent improvement in Bitcoin’s profitability was largely an arithmetic consequence of the rally itself. One data point in the report reveals an internal tension: Fidelity also reports that Bitcoin trades 45% above its aggregate cost basis, which under the standard formula implies a NUPL closer to 0.31, whereas a 0.36 reading corresponds to trading roughly 56% above cost basis. Regardless of minor methodological divergences, the fundamental takeaway stands: Bitcoin’s profitability signal merely shadowed its price, while broader market participation remained muted.

Ethereum got richer while its fees shrank
Ether posted the strongest performance of the three assets, rallying 71% and driving its NUPL out of deep negative territory (−0.43) back into positive ground (0.16). Yet the cash flow sustaining the underlying protocol deteriorated. According to Fidelity’s full report, rolling 12-month network fees dropped 31%, sliding from $294 million to $204 million. It earned network fees a “Negative” rating – the only such designation across Fidelity’s entire report. Daily fees averaged just $384,000 during the period, oscillating between $133,000 and $1.5 million.

Ethereum Net Unrealized Profit/Loss (NUPL) chart via Fidelity Digital Assets.
Underlying mainnet usage contracted alongside revenue. Ethereum’s 30-day average transaction count slipped 10% to fall below two million daily, and total active addresses declined 6%. Economically relevant addresses rose 30%, suggesting that while retail transactions left the base layer, high-value institutional settlement persisted. Fidelity’s diagnosis of this divergence was unsparing: the substantial increase in base-layer blockspace over the trailing year has yet to produce a proportional increase in economic demand. The pending Glamsterdam upgrade, slated to expand throughput further, will introduce more capacity into an already oversupplied mainnet execution market.

This decoupling is the direct consequence of Ethereum’s modular scaling architecture. Modern rollups execute transactions off-chain and post compressed data batches back to Layer 1, driving down user costs but systematically stripping fee revenue from the base layer. For ETH holders, this architectural shift carries profound economic trade-offs. Depressed base fees reduce the volume of ETH permanently removed from circulation under EIP-1559, turning the asset net-inflationary during the quarter. At the same time, this revenue contraction directly degrades what staking returns actually deliver, as validator yields compress toward bare issuance rewards in the absence of meaningful priority tips.

Stablecoin activity reflected this migration away from Layer 1. Average daily stablecoin settlements on Ethereum fell to $37 billion during the final 30 days of the quarter, marking a 45% drop from the $67 billion daily average recorded in the first month as volume continued shifting toward cheaper execution environments.

Solana’s fees are turning before the trailing number shows it
Solana presented the clearest evidence of operational expansion. Monthly transactions climbed 23% to reach record highs, active addresses expanded 53%, new addresses grew 50%, and economically relevant addresses surged 58%. While low-fee blockchains are inherently prone to automated wallet spam – a measurement distortion that Coin Metrics emphasizes in its address methodology – the 58% jump in economically relevant addresses suggests authentic user growth rather than mere network noise.

Solana’s headline revenue figure masks this intraday turnaround. Trailing 12-month fees dropped 13% to $193 million, primarily because the rolling window discarded the network’s high-activity historical peaks as it incorporated newer data. Looking at the quarter in isolation reveals a pronounced acceleration: daily fee capture averaged $922,000, which annualizes to a run rate of roughly $224 million. That pace comfortably surpasses the trailing-year figure, leading Fidelity to conclude that Solana’s protracted fee decline is finally carving out a durable floor.

Solana network fees and fee volume chart via Fidelity Digital Assets.
Stablecoin velocity accelerated along with transaction counts. Solana processed more than $10 billion per day in stablecoin transfers, up 20% from the second quarter, compressing the volume deficit between Solana and Ethereum to $26 billion (down from nearly $60 billion earlier in the year). Concurrently, Solana’s native stablecoin supply expanded by 9% ($1.37 billion), far outpacing the wider stablecoin market’s modest 0.5% growth.

Yet this operational momentum has not fully repaired investor balance sheets. Solana’s NUPL recovered from −0.73 to −0.08, but that still leaves the average SOL token roughly 7.4% below its aggregate cost basis, representing approximately $5.5 billion in unrealized losses across the network. Raw throughput has outpaced capital recovery, underscoring the ongoing comparison between Solana’s user counts and Ethereum’s financial depth: handling high-velocity transactions does not automatically translate into institutional balance sheet value.

Moving money isn’t earning money
Aggregate transfer volumes demonstrate how much capital is in motion, not how effectively a protocol captures revenue from that movement. Fidelity notes that estimated stablecoin transfer fees on Ethereum remained below $1 for four consecutive quarters, while Solana’s median transaction fee consistently stayed under a tenth of a cent. Under these conditions, billions of dollars in liquidity can cycle across either chain with negligible impact on protocol earnings. How much of that economic activity ultimately accrues to token holders depends entirely on the design of the fee capture engine:

Bitcoin → All transaction fees go directly to miners on top of programmatic block subsidies, serving purely as an operational incentive rather than a token-accrual mechanism. Developer guide

Ethereum → The base fee is permanently burned to reduce circulating ETH supply, while priority tips compensate block-proposing validators. Ethereum docs

Solana → Fifty percent of the base fee is burned while the remaining half goes to validators; priority fees pass entirely to block producers. Solana docs

Across all three networks, onchain activity reaches token holders indirectly – through mining security, validator staking yield, or supply reduction – rather than through direct dividend-like equity distributions. When transaction fees collapse or remain pinned at sub-cent fractions, those value-accrual channels quickly dry up.

Bitcoin’s miners earn more for a different reason
Bitcoin’s fundamental investment thesis has long centered on long-term holding rather than high-frequency transactional throughput, meaning sluggish fee generation carries fewer existential implications for the asset. However, the latest mining data reveals how operator revenues can expand even as onchain fee generation stagnates. Rather than relying on users spending more satoshis to transact, miners benefited from supply-side compute rationalization.

Following Bitcoin’s correction from its late-2025 peak, several major mining operators pivoted power infrastructure and high-performance computing assets away from SHA-256 hashing toward hosting artificial intelligence workloads. As a result, network hash rate dropped 9% year-over-year. With competitive pressure easing, hash price – the expected revenue generated per unit of computing power – jumped 25%. Consequently, miners captured approximately 22% more revenue than they did during the previous halving cycle, despite operating under a block subsidy that was twice as large. The improvement in miner margins stemmed from a drop in domestic competition, not from organic transaction demand.

Three networks, three answers
The third quarter delivered identical price tailwinds to the market’s three major tokens, but revealed three sharply diverging fundamental profiles. Bitcoin’s surge in paper profitability mirrored its price action with near-mathematical precision, while its mining economy leaned on an AI compute pivot rather than blockspace demand. Ethereum’s market capitalization expanded even as its base-layer annual fee revenue shrank 31% to $204 million under the weight of rollup migration. Meanwhile, Solana established a $224 million annualized fee run rate on record user throughput, yet its persistent sub-cent fee model has left the network’s token holders over 7% underwater.

This article is provided for informational purposes only and does not constitute financial or investment advice.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP.
Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem.
To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem.
His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.