Market Signal Briefing

Tue, 13/01/2026 - 13:50

Shiba Inu jumps 1,153% in netflows, sparking interest in the market.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a 1,153% jump in spot netflows in the last hour, attracting the market's attention.

According to CoinGlass, one-hour data for spot flows, Shiba Inu reported $144,380 in inflows and $108,020 in outflows, accounting for a positive net inflow of $36,370, with the net change yielding a 1,153.92% increase.

The Shiba Inu price traded in green after days of dropping, posting gains in Tuesday's session. At press time, Shiba Inu was up 2.31% in the last 24 hours to $0.0000086 but still down 8.06% weekly.

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Spot flows measure the capital flow of the cryptocurrency spot market. In the Asian session on Tuesday, a burst of buying lifted prices, but broader conviction remained limited as traders waited for clearer catalysts.

Shiba Inu rose to an intraday high of $0.00000864 early Tuesday, buoyed by buying pressure from capital inflows into the market, before slightly dropping.

Markets closely watchingLeverage has been flushed following the recent drop, but spot demand remains soft, with several altcoins largely directionless despite showing intraday strength.

Shiba Inu surged to a high of $0.00001017 on Jan. 6, before it started declining. Since this date, Shiba Inu fell for six out of seven days before rebounding today.

Shiba Inu is holding above the daily MA 50 (currently at $0.000008), a level that previously limited its price action, which remains positive for its price, with the next targets now at $0.00001 and $0.000011.

Markets are closely watching inflation data after December’s jobs report hinted at the cooling of the labor market, reinforcing expectations that the Federal Reserve might delay interest-rate cuts. Futures markets currently price in two quarter-point cuts this year beginning in June, according to the CME FedWatch tool.

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The December U.S. CPI inflation data have come in line with expectations, signaling that inflation in the country remains steady despite concerns that it may potentially trend higher due to the Trump tariffs. Bitcoin broke above $92,000 on the back of the data release, which strengthens the case for more rate cuts.

December CPI Inflation Comes In At 2.7% Bureau of Labor Statistics data show that CPI inflation remained at 2.7% year-over-year in December, in line with expectations. Inflation rose to 0.3% month-over-month (MoM) last month, also in line with expectations.

Meanwhile, the core CPI came in at 2.6% YoY, below expectations of 2.7%, while the inflation data came in at 0.25 MoM, also below estimates of 0.3%. Notably, this mirrors the November inflation figures, with the CPI and core CPI coming in at 2.7% and 2.6%, respectively.

Bitcoin rose on the back of the CPI inflation data release, rising to as high as $92,400. The flagship crypto is trading just above $92,000 at press time, up almost 2% in the last 24 hours.

Source: Yahoo Finance; Bitcoin Daily Chart The inflation figures are a positive for BTC and the broader crypto market, as it supports the case for more Fed rate cuts, which is bullish for these crypto assets. Notably, the last FOMC minutes had shown that most Fed officials support lowering rates if inflation comes down as expected.

Furthermore, the CPI data confirm that inflation remains steady despite concerns about the impact of Trump’s tariffs. It is also worth mentioning that New York Fed President John Williams had stated that the November data was likely distorted due to the government shutdown. However, this December data confirms that inflation isn’t trending upwards.

Crypto’s liquidity stopped spreading out in 2025, and the domino effects cascaded throughout the rest of the market, according to a new report from market maker Wintermute.

Wintermute said crypto’s market structure shifted last year, with liquidity concentrating into bitcoin, ether, and a small set of large-cap tokens rather than dispersing widely across altcoins. The change in capital flows has resulted in a break from prior cycle playbooks, the firm noted.

“Capital no longer spreads broadly across the market,” Wintermute wrote in its 2025 digital asset OTC report, which uses the firm’s proprietary over-the-counter flow as its primary lens.

Capital rotation from BTC and ETH into other majors. Image: Wintermute.

Instead, liquidity has become “more concentrated and unevenly distributed,” with large volumes confined to fewer tokens and performance increasingly driven by where capital enters the market and how it is deployed. The market maker pointed to exchange-traded funds and digital asset treasury companies — which it said have expanded and increasingly directed flows into major tokens — as a key reason spot activity has clustered at the top.

Median altcoin rally shortened to just 19 days Additionally, the memecoin cycle “collapsed” early in the year, further narrowing capital formation and limiting the durability of rallies outside the largest names, according to the company.

Wintermute said the result has been a market where altcoin rallies have become shorter and more selective, with opportunistic bursts of activity around themes such as memecoin launchpads, perpetual DEXs, and emerging payment and API primitives, but with “limited follow-through.”

In its report, Wintermute stated the median altcoin narrative rally lasted roughly 19 days in 2025, down from about 61 days the prior year.

The report also described a change in how large counterparties executed. Per the firm’s analysis, institutional participants have shown less directional conviction and more tactical positioning around headlines. At the same time, execution has become more deliberate and recurring, reflecting growing sophistication and a shift away from simple seasonal trading cycles like “Uptober.”

Seasonal crypto trading patterns declined in 2025 compared to prior years. Image: Wintermute.

On derivatives, Wintermute said off-exchange structures have broadened. It pointed to increased use of CFDs as a capital-efficient way to access a wider set of underlyings. Also, options have matured into a core portfolio tool, with more systematic strategies and yield-generation approaches replacing the more one-way, directional positioning that dominated earlier cycles, it said.

Importantly, the report’s central theme was that liquidity pathways now matter as much as overall risk sentiment.

Wintermute said capital has increasingly flowed through structured channels such as ETFs and digital asset treasury companies, shaping where depth builds and where trading remains viable at size. That has supported majors while limiting spillover into the long tail of tokens, contributing to a more range-bound environment for most of the market.

A separate institutional analysis from Finery Markets echoed parts of that shift, arguing that off-exchange execution has taken on a larger role as institutions prioritize execution quality and settlement safety.

Looking to 2026, Wintermute said 2025 may mark the beginning of crypto’s transition away from clean, narrative-driven cycles, with future performance depending on whether liquidity broadens beyond a handful of large-cap assets or remains constrained to the top of the market.

For that trend to reverse, in Wintermute’s opinion, corporate buyers active through ETFs and digital asset treasuries must “widen their mandate” to include more assets.

Major assets must also log significant performance, which could result in capital rotation across the broader crypto market, it said. Finally, a substantial return of retail investor appetite could usher in new money and spur stablecoin mints. However, Wintermute argued that this scenario is less likely to happen.

Disclaimer: Evgeny Gaevoy, the founder and CEO of Wintermute, previously sat on The Block’s board of directors from April 2023 to early November 2023 and remains a minority shareholder.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Polygon Labs to Acquire Coinme and Sequence in $250M Stablecoin Payments Push

Tanzeel Akhtar

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Tanzeel Akhtar

Part of the Team Since

Feb 2018

About Author

Tanzeel Akhtar has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal, Bloomberg, CoinDesk, Bitcoin...

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Polygon Labs has signed definitive agreements to acquire U.S.-regulated payments firm Coinme and wallet infrastructure provider Sequence for more than $250 million, as it accelerates its expansion into licensed stablecoin payments in the United States.

In a press release shared with CryptoNews the firm said the transactions are designed to deliver three core components of Polygon’s forthcoming Open Money Stack: regulated fiat on- and off-ramps, enterprise wallet infrastructure and cross-chain orchestration through intents.

Building Regulated Scale for Stablecoin PaymentsTogether with Polygon, Coinme and Sequence have already processed more than $1 billion in offchain sales and over $2 trillion in onchain value transfers.

As payments activity grows, Polygon Chain is positioned to capture increased onchain throughput and network fees, directly benefiting validators and stakers.

The acquisitions come as stablecoins continue to gain traction as a settlement layer for global payments, particularly following recent progress on U.S. federal stablecoin regulation.

Polygon’s strategy is to combine compliant fiat access with onchain settlement at scale, creating a vertically integrated payments stack.

Coinme Brings U.S. Licensing and Physical DistributionFounded in 2014, Coinme is one of the earliest licensed digital currency exchanges in the United States. The company holds money-transmitter licenses covering 48 U.S. states and operates a physical fiat-to-crypto network across more than 50,000 retail locations.

Coinme also provides regulated crypto-as-a-service offerings for fintechs and enterprises, alongside licensed wallet infrastructure, enterprise APIs and SDKs.

Backed by investors including Pantera, Digital Currency Group, Coinstar, Circle and MoneyGram, Coinme serves enterprise customers such as Exodus, Coinstar, Mercuryo and Baanx, in addition to more than one million retail users.

Following regulatory approvals, Coinme will operate as a wholly owned subsidiary of Polygon Labs.

Sequence Adds Wallets and Cross-Chain IntentsSequence contributes smart wallet technology and a one-click cross-chain orchestration and intents engine that abstracts away complexity for users. Its infrastructure enables payments across multiple blockchains without requiring users to manage bridges, swaps or gas.

Backed by investors including Brevan Howard Digital, Initialized Capital, Coinbase, Polychain and Consensys, Sequence supports major ecosystems such as Polygon, Arbitrum and Immutable while also partnering with Google Cloud as a distribution channel.

Its Trails platform provides universal rails for cross-chain transactions and interoperable stablecoin payments, including support for Circle’s Cross-Chain Transfer Protocol.

The Open Money Stack VisionBy combining Coinme’s regulated fiat access with Sequence’s wallet and cross-chain capabilities, Polygon aims to deliver an open, integrated payments platform for banks, fintechs, enterprises, remittance providers and merchants.

The goal is to allow real-time, 24/7 stablecoin settlements with lower fees, reduced reliance on correspondent banking and predictable pricing.

“Stablecoins are increasingly being used as a settlement layer for global payments, but the infrastructure around them remains fragmented,” said Marc Boiron, CEO of Polygon Labs.

Polygon founder Sandeep Nailwal added that the Open Money Stack provides a clear path to support trillions of dollars moving onchain, while keeping the network open and interoperable.

Polygon’s onchain stablecoin supply reached approximately $3.3 billion at the end of 2025, according to data compiled on Dune.

Salad.com, a GPU cloud platform built on globally distributed infrastructure, and Golem Network, a decentralized computing protocol, have entered a partnership to test the use of Golem’s permissionless compute network for Salad’s existing cloud computing operations.

According to the announcement that was shared with Finbold on January 13, as part of the test, Salad plans to mirror and map part of its commercial activity across Golem’s decentralized network, covering a range of its cloud computing products and services. 

Testing decentralized infrastructure for existing cloud workloads The initiative is intended to examine whether decentralized physical infrastructure networks (DePIN) can support the variety of customer profiles and workload types currently running on Salad’s centralized platform.

Salad currently relies on a stack of centralized services to manage customer payments and distribute rewards to its global network of infrastructure providers. 

The company said that its use of traditional payment processors, usage-based billing platforms, and reward suppliers introduces operational complexity, given its international footprint. The test will explore whether crypto payments and decentralized compute execution could offer efficiency improvements.

“By pairing Salad’s globally distributed infrastructure with Golem’s decentralized compute layer, we’re exploring how customer workloads, revenue, and our extensive rewards program can flow through DePIN. I first read the Golem whitepaper in 2017, and this collaboration reflects a shared vision of making advanced computational power more accessible by enabling millions of individuals to contribute underutilized devices,” said Bob Miles, CEO of Salad.com. “This initial test phase aims to demonstrate whether Web3 can enhance centralized cloud platforms with greater efficiency and openness, while helping us understand how Salad’s margin profile could fit into a sustainable tokenomics model as we scale mirrored traffic through Golem Network.”

Evaluating marketplaces, settlement, and interoperability The collaboration will also evaluate Golem’s decentralized marketplace and settlement infrastructure to determine whether it can provide a more transparent and cost-efficient platform for value exchange.

Paweł Burgchardt, CPO of Golem Network, added:

“Our collaboration with Salad allows us to explore how Golem’s protocol can integrate with complementary marketplaces for computational resources. The insights gained from this experiment will help us refine Golem’s SDK and strengthen support for future integrations.” 

Salad said it began evaluating multiple DePIN protocols in the third quarter of 2025, with Golem emerging as the closest match to its existing platform architecture. Initial tests have already provided technical insights for Salad’s engineering team.

Kyle Dodson, Salad’s CTO, commented:

“The architecture provided by Golem, connecting compute requestors and compute providers via a decentralized protocol, has significant overlap with how Salad’s platform operates today. As Salad works towards supporting a frequently requested feature, crypto payments, I am excited to collaborate with the Golem team to further enhance the efficiency of both cost and the compute-orchestration of our platform.”

Both companies said the partnership is focused on demonstrating how Web2 and Web3-based marketplaces can interoperate, particularly for workloads such as AI inference, drug discovery simulations, and 3D rendering. Further technical and product updates are expected as the engineering test progresses.

Featured image via Shutterstock. 

Active Currencies 18963

Market Cap $3,226,232,080,187.40

Bitcoin Share 57.02%

24h Market Cap Change $1.57

AMBCrypto

Understanding Ethereum’s ‘walkaway test’ – Who really keeps the network alive?

Journalist

Posted: January 13, 2026

Ethereum Co-Founder Vitalik Buterin is making the case for a “walkaway test,” while activity across the network rests with a small group of large application builders.

On the other hand, Tom Lee’s Bitmine pushed its Ethereum exposure past $13 billion this week.

Confidence in the network is coming from its existing ecosystem.

A test for survival Buterin wants Ethereum to reach a point where it can survive even if active development slows or stops.

In a recent post on X, he argued that Ethereum should work “more like tools,” rather than services; something users can rely on without relying on constant updates or a central group of maintainers.

“Do the right thing once, based on knowledge of what is truly the right thing… and maximize Ethereum’s technological and social robustness for the long term.”

That idea, which he calls the “walkaway test,” means the network’s value should come from what is already built into the protocol today. To get there, Buterin set out long-term goals such as stronger security and scalability, and a design that can last for decades.

Adding to this…

Samyukhtha L KM is a Financial Journalist and Market Analyst at AMBCrypto whose work is defined by one central question: Is the latest trend in blockchain hype, or history in the making? Her expertise is built on a strong academic foundation, with a Master’s in Journalism and Mass Communication from Amity University and a Bachelor’s in Commerce from the University of Madras. This dual qualification equips her with a unique skill set: the financial acumen to dissect market mechanics and the journalistic rigor to investigate and communicate complex subjects with clarity. Samyukhtha specializes in analyzing the socio-economic impact of blockchain adoption and assessing the viability of new market narratives. This includes a focus on high-velocity, community-driven assets such as memecoins, where she evaluates sentiment and fundamentals. She is dedicated to providing readers with insightful, well-researched commentary that looks beyond immediate market moves to understand the long-term implications of decentralized technology.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Salad.com and Golem Network have partnered to test whether decentralized web3 compute infrastructure can reliably support and enhance Salad’s existing global GPU cloud workloads.

Salad.com, a GPU Cloud Platform powered by globally distributed infrastructure, and Golem Network, one of the first decentralized computing protocols, have announced a partnership. This collaboration will evaluate the feasibility of meeting Salad’s existing computational demand using Golem’s web3 infrastructure.

As part of an engineering test, Salad first intends to utilize Golem’s permissionless execution layer to ‘mirror’ and map a portion of its existing commercial activity, spanning the range of Salad’s cloud computing products and services. This partnership serves as a functional test designed to verify that DePIN protocols, in this case Golem, can support the breadth of customer and workload profiles currently utilizing Salad’s cloud infrastructure.

Today, Salad relies on a stack of centralized services for facilitating customer payments and the delivery of rewards to its network of infrastructure providers. With a global footprint of both customers and compute providers, Salad’s software stack of traditional payment processors, usage-based billing platforms and reward suppliers represents significant complexity and operational overhead. Crypto payments and a permissionless compute-execution layer, similar to that offered by Golem Network, may deliver significant efficiency gains for Salad’s products and services.

This collaboration seeks to validate how a traditional web2 business like Salad can integrate with a permissionless and decentralized protocol, such as the Golem Network. The test will evaluate core components, including the decentralized marketplace and settlement infrastructure, and how they could offer Salad a more cost-efficient and transparent platform for value exchange.

Salad and Golem Network share a similar goal of making accelerated computational power more widely accessible.  Both platforms support a range of workload profiles, from in silico drug-discovery simulations, AI inference, to 3D rendering.

This partnership aims to show how traditionally separate web2 and web3-based marketplaces can be integrated, enabling participants to benefit from complementary capabilities while laying the groundwork for future resource-sharing across currently siloed networks.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

Polymarket’s 15-minute market, which allows users to bet on short-term “up or down” price movements for major cryptocurrencies, has triggered a surge in activity on the Polygon blockchain, driving significant network fees. 

These markets are known to resolve every 15 minutes based on Chainlink price feeds, making them fast-paced and attractive to high-frequency traders and arbitrage strategies.

According to Castle Labs, Polygon has seen explosive growth this year. Since the year began, the chain has reportedly generated over $1.7 million in fees and burned 12.5 million+ POL, over $1.5 million. 

Why is Polygon’s fee generation up in 2026?  The main reason for the increase in Polygon’s fee generation has been linked to a move Polymarket effected, which saw it turn on fees for its 15-minute markets one week ago, as reported by Cryptopolitan. 

According to a report from Castle Labs, the past 24 hours have seen Polymarket make over $100,000 in fees for Polygon.

The fees Polymarket turned on for its 15-minute market also triggered a surge in gas prices; however, that has been managed with the Dandeli hardfork that went live at block 81,424,000, increasing the chain’s throughput to 20 mgas/s.

The increased chain capacity is expected to ensure the network is able to handle the surge in activity with more predictable gas prices. An analysis of the P2P volumes across chains has shown Polygon now leads in the micropayments category, with 37% of market share.

However, the share still converges towards Ethereum for the other categories, including the small, medium, and large payments. Building on the present hype, Polygon plans to partner with providers such as Revolut, Stripe, Flutterwave, Decard, and more to boost stablecoin transactions and onchain economic activity.

This is all reportedly part of Polygon’s Open Money Stack, which targets more onchain applications of money and easier spending, so off-ramping will be an option, rather than a necessity.

As the chain continues to evolve and build use cases outside of crypto, and the Polygon thesis plays out with Agglayer and Open Money Stack, more sources like Polymarket are expected to contribute even more to the chain’s growth, driving it back from the brink of obscurity. 

What’s Polygon’s Open Money Stack? According to a long-form article Polygon Lab’s CEO Marc Boiron posted on X, Polygon’s Open Money Stack is a comprehensive ecosystem that is designed to help the world’s financial system transition entirely onchain. 

In the article, the authors point out that even though the Internet has freed information, monetary transactions are still largely restricted by geography, time and infrastructure. They claim Polygon is looking to change that by making money movement “boundless and programmatic,” shifting from a slow, expensive legacy system to one that is more rapid and reliable. 

The Open Money Stack is an integrated suite of technologies designed to make the blockchain invisible to the end user and will be characterized by high-performance blockchain rails, simplified on and off ramps paired with cross-chain interoperability, good wallet infrastructure and onchain utility like high yield opportunities. 

The timeline for the total migration could be a decade, but Polygon is convinced the protocols that will define this category will be established in the next three years. 

In the coming weeks, Polygon Labs has plans to launch several initiatives that will focus on payments, compliance and onchain money primitives to move the execution forward from vision to execution.

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The U.S. Consumer Price Index came in roughly in line with expectations as market participants largely expects the Fed to leave interest rates unchanged at the January meeting.

ETH price crash could shut down Ethereum, freezing over $800 billions in assets. Tokenized “safe” assets still rely on Ethereum’s health, making them vulnerable to network failure. A Bank of Italy study warns that if Ethereum prices crash badly, then the entire Ethereum network could stop working, freezing more than $800 billion worth of assets. Even assets that are supposed to be safe, like stablecoins and tokenized bonds, will be at risk. This warning comes from the research paper by the Bank of Italy, which is not just the traders’ take; it is a central bank risk analysis. 

How an ETH Price Crash Could Break Ethereum’s Validator Economy The reason behind this warning is that Ethereum runs because of the validators that process transactions. In return, they get paid in ETH. If the ETH price crashes and becomes very low, then the validators start to quit validating, as they have very high expenses in validating. Then their earnings become worthless. If this continues and many validators start quitting, then the network can’t finalize transactions. At this point, transactions can be submitted, but nothing settles, and assets will be immovable. 

If this happens, it leads to the biggest risk. Ethereum now holds stablecoins, tokenized bonds, and other financial assets. Their value will be more than $800 billion. If Ethereum freezes, then it cannot move, sell, or redeem. Even if the assets are trustworthy. 

Why a Falling ETH Price Makes Ethereum Cheaper to Attack When the price of ETH crashes, it has a high possibility of hacking the network. Attacking the network is very expensive because the ETH is valuable. If the ETH price crashes, then it becomes cheap to attack Ethereum. Hackers could control the network, and they can start faking the transactions and steal or duplicate the assets. 

During the crisis, people can’t easily move assets to another blockchain. Bridges may be fragile, and mass exits could break them. DeFi apps may lock the funds, and no authority can pause or fix Ethereum. There is no central bank to save it. So this is the reason the Bank of Italy is saying that if real financial assets are built on Ethereum, then the crypto crash could damage real financial assets too. So the regulators may soon require the backup system, emergency plans, and copies of ownership records outside Ethereum.  

Highlighted Crypto News:

VanEck Says Policy Clarity Sets Up a Risk-On Q1 for Investors   

TL;DR

Macro backdrop: VanEck says Q1 2026 is entering a rare risk-on phase supported by clearer fiscal policy, steadier monetary direction, and shrinking US deficits relative to GDP. Bitcoin cycle shift: The firm warns that Bitcoin’s traditional four-year cycle broke in 2025, creating short-term uncertainty even as analysts note healthier conditions after excess leverage was flushed out. Medium-term outlook: Analysts expect the first half of 2026 to benefit from regulatory clarity, fiscal support, geopolitical pressures, and sovereign diversification, all reinforcing Bitcoin’s long-term investment thesis.
Markets are entering 2026 with a shift in tone as VanEck signals that the first quarter is shaping into a period of improved visibility. The firm argues that clearer fiscal signals, steadier monetary direction, and more defined investment themes are creating conditions that typically support a risk-on environment. Yet even as broader markets brighten, Bitcoin continues to challenge expectations after breaking from its traditional four-year cycle in 2025, prompting a more cautious stance in the near term.

https://twitter.com/vaneck_us/status/2010860384962425139

Clearer Macro Signals Support Risk-On Conditions VanEck’s Q1 2026 outlook highlights a macro landscape that finally appears more stable after years of uncertainty. The firm points to shrinking US deficits relative to GDP as a sign of fiscal improvement, helping anchor long-term interest rates and reduce tail risks. These developments tend to benefit higher-risk assets such as technology stocks, artificial intelligence plays, and cryptocurrencies. Still, VanEck notes that Bitcoin’s cycle disruption complicates short-term signals, even as some internal voices remain optimistic about its immediate trajectory.

Bitcoin’s Broken Cycle Creates Short-Term Ambiguity According to VanEck, Bitcoin’s traditional four-year rhythm fractured in 2025, making near-term forecasting more difficult. The firm expects the next three to six months to remain uncertain despite improving structural conditions. Analysts like Justin d’Anethan argue that recent price action shows excess leverage has been flushed out, creating a healthier market foundation. He believes Bitcoin’s rise in a low-leverage environment reflects more grounded bullish sentiment and less extreme bearish pressure.

Analysts See Medium-Term Strength Forming Most analysts referenced in the report emphasize a medium-term lens rather than short-term volatility. They argue that regulatory clarity, fiscal support, and geopolitical pressures are aligning in ways that could benefit crypto markets in the first half of 2026. Tim Sun of HashKey Group says the volatility of late 2025 has given way to a clearer trajectory supported by stimulus, accommodative monetary policy, and improving regulatory conditions.

Broader Macro Forces Reinforce Bitcoin’s Investment Thesis Beyond market structure, broader macro dynamics are fueling optimism. Will Clemente highlights rising geopolitical risk, strong equity markets, and sovereign diversification into alternative assets as factors aligning with Bitcoin’s original investment thesis. These forces, combined with improving fiscal stability, contribute to a backdrop that could support renewed crypto momentum. At the time of writing, BTC is trading at around $91K, increasing nearly 2% in the last 24 hours.

Bitcoin price is holding steady after a brief rebound, but the market still lacks a decisive trigger. BTC is consolidating above $91,000, while traders keep a close watch on whether the range turns into a breakout or another rejection. Volatility remains compressed, suggesting a larger move could be building as liquidity clusters around key levels. With risk sentiment turning highly reactive and positioning tightening, the big question is whether Bitcoin can build enough momentum to retest the $100,000 zone in the near term.

Sell-side Risk Ratio Cools as Holders Slow Down Profit-TakingThe next clue comes from Glassnode’s Sell-side Risk Ratio, which tracks how much profit or loss investors are realising relative to Bitcoin’s market cap. In simple terms, it shows whether the market is seeing heavy distribution (aggressive selling into strength) or lighter selling (holders choosing to sit tight).

On the chart, the Sell-side Risk Ratio has dropped toward the lower band after spending much of 2024–2025 oscillating at higher levels. Historically, the bigger spikes in this metric have aligned with periods of strong profit realization and overheated moves, while dips toward the lower zone have appeared during cool-down phases where sell pressure eases and the market builds a base.

This supports a constructive consolidation thesis: if holders aren’t rushing to realize profits, BTC often needs a fresh demand catalyst to push higher—but it also reduces the odds of an immediate, seller-driven collapse. The risk is that low selling pressure can still mean low urgency from buyers, which keeps BTC choppy until the price breaks key resistance with volume.

Will Bitcoin Price Reach $100K This Month?The Bitcoin price has been closely consolidating within a tight range for the past weeks following a recovery from the interim lows around $80,000. The price is struggling to clear the resistance zone between $91,600 and $93,500 as it is facing constant bearish pressure. Despite this, the volume remains within the average, suggesting considerable trader participation, regardless of the sluggish behavior of the BTC price.  

The weekly price action of BTC reflects the growing momentum of bulls as the rally continues to trade along the rising trend line. This line has been acting as a strong support since 2024, and a rebound from this zone suggests the upcoming rally could be more explosive than before. The weekly MACD is preparing for a bullish crossover, and the weekly RSI has just begun to rise. This indicates there is more room for the bulls to thrive, and hence the upper target for the Bitcoin (BTC) price rally is much ahead than $100,000.

Is Bitcoin (BTC) Price Heading Towards a New ATH?As seen in the above chart, the price is consolidating within the rising expanding channel and has rebounded from the support. In the previous rebounds, the price has surged towards the resistance. Therefore, the Bitcoin price is believed to rise, but to mark a new ATH, the token is required to clear 2 important resistance zones. After the current one, it needs to surge above the price range between $106,800 and $109,600. A rise above this range may push the levels above $110,000 and later the ATH price levels. 

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Key NotesThe Bitcoin and Gold ETF (BOLD) offers Bitcoin’s growth potential with gold’s store-of-value characteristics.The fund has delivered a 122.5% return in sterling terms since its 2022 launch in Switzerland.The launch follows the U.K.’s removal of crypto ETP restrictions and rising institutional demand. On January 13, 21Shares launched its Bitcoin and Gold ETF (BOLD), which began trading on the London Stock Exchange.

This offers investors a regulated vehicle, offering exposure to both physical gold and digital gold.

The BOLD ETF is also the first in the United Kingdom to provide exposure to both assets within one instrument.

First Bitcoin and Gold ETF Goes Live The 21Shares Bitcoin and Gold ETF combines the two most liquid alternative assets in a single, risk-weighted portfolio.

The launch follows the removal of U.K. restrictions on crypto ETFs in October 2025, as well as the growing demand for regulated crypto products.

This BOLD ETF from asset manager 21Shares pairs Bitcoin’s BTC $91 982 24h volatility: 1.4% Market cap: $1.84 T Vol. 24h: $44.32 B long-term growth potential with gold’s role as a store of value.

The product offers investors greater diversification beyond traditional asset classes and also limits the volatility associated with just holding Bitcoin.

BOLD was first introduced in Switzerland in April 2022 and is already listed on several major European exchanges.

Since its launch, the fund has delivered a 122.5% return in sterling terms through the end of 2025, outperforming both Bitcoin and gold over the same period.

The underlying Bitcoin and gold are held with institutional-grade custodians. Portfolio allocations are rebalanced on a monthly basis to maintain equal risk exposure between the two assets, rather than equal capital weighting.

This approach adjusts the portfolio by reducing the allocation in the stronger-performing asset and increasing it in the weaker one, maintaining balanced risk exposure.

The 21Shares Bitcoin and Gold ETF trades intraday on the exchange and carries a total expense ratio of 0.65%.

Bitcoin and Gold Exhibit Opposite Trends Over the past year, amid significant global monetary uncertainty, Bitcoin and gold have shown opposite trends.

While Bitcoin ended 2025 relatively flat, gold rallied by more than 65% over the same period.

Currently, gold is trading at a record high of $4,600 per ounce, while Bitcoin is nearly 30% below its all-time high.

Despite their contrasting price movements, both assets have seen increased institutional participation over the past year.

When you look at the valuation of Bitcoin against Gold, Bitcoin topped in December 2024. pic.twitter.com/0WcA3N54Ze

— Benjamin Cowen (@intocryptoverse) December 31, 2025

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

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Bhushan Akolkar on X

Bitcoin Whales Are Buying the Dip – Should Retail Follow or Step Back?Bitcoin whales accumulated while retail investors took profits during early January.Retail selling reflected caution, not strong confidence in the rally’s durability.Whale accumulation versus retail selling has historically improved upside probabilities, not guarantees.Bitcoin’s on-chain data is showing a clear split between large holders and small investors. While retail traders were seen taking profits after the early-January rally, whales were moving in the opposite direction. According to data from Santiment, this divergence has historically increased the probability of bullish market conditions.

With Bitcoin trading above $93,000 at the time of Santiment’s data release, many retail investors were observed reassessing their positions by calculating Bitcoin profits following the recent move higher. That reassessment appeared to drive profit-taking among smaller wallets, even as larger holders continued to increase exposure.

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Addresses holding between 10 and 10,000 BTC accumulated more than 56,000 coins between mid-December and early January. At the same time, wallets with less than 0.01 BTC started selling, suggesting fear of a short-lived rally rather than a sustained move higher.

Retail Traders Took Profits After The RallySmall Bitcoin holders shifted into selling mode when Bitcoin briefly went higher in early January. After Bitcoin pushed above $93,000, many retail investors chose to lock in gains rather than increase exposure.

This behavior reflected growing concern that the recent price strength could be a bull trap. Retail traders appeared skeptical that higher levels would hold, especially after the sharp moves seen in the preceding weeks. As a result, wallets with minimal BTC balances contributed to selling pressure during that period.

Santiment, in the data-packed tweet, noted that this behavior marked a change from mid-December, when retail activity was more mixed and lacked a clear trend. The recently concluded rally seemed to have been the catalyst for profit-taking.

📊 Crypto markets typically follow the path of key whale & shark stakeholders, and move the opposite direction of small retail wallets. In our chart below:

🟥 Whales dumping, Retail accumulating (VERY BEARISH)
🟧 Whales dumping, Retail unpredictable (BEARISH)
🟨 Whales & Retail… pic.twitter.com/yoC0H1keBT

— Santiment (@santimentfeed) January 5, 2026 Sponsored

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Bitcoin Whales Absorb Selling PressureWhile retail investors exited positions, creating a dip, large Bitcoin holders continued to accumulate. Wallets holding 10 to 10,000 BTC added 56,227 coins since December 17, even during periods when prices moved sideways.

Santiment classified this pattern as one of the most bullish configurations in its framework. Whale accumulation combined with retail distribution had often preceded further market capitalization growth across crypto assets.

The data suggested that large holders were comfortable absorbing selling pressure at those price levels. This steady buying contrasted sharply with retail hesitation and signaled confidence from investors with longer time horizons.

What This Means For Retail InvestorsHistorically, periods where Bitcoin whales accumulate while retail sells have favored the upside. However, Santiment also cautions that favorable probabilities do not guarantee outcomes. These bullish phases can last days or weeks, and whale behavior can shift quickly if conditions change.

For retail investors, the key takeaway is not to blindly follow either side. The current setup suggests strength beneath the surface, but risk management remains critical. Monitoring the gap between whale accumulation and retail selling can provide useful context, especially during volatile market phases.

For now, Bitcoin’s market structure appears supportive. Whether retail investors choose to re-enter or stay cautious may depend on how long this divergence persists.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Pi Coin price continues to trade within a tight consolidation after an extended distribution phase, reflecting balance rather than recovery. The price behavior appears  as Pi Network price absorbs ongoing Mainnet migration, which steadily expands circulating supply. While the network is developing, there is low demand reaction in the price action at present levels.

Mainnet Migration Reshapes Supply Before Price Responds Pi Network’s Mainnet migration marks a structural shift from a closed ecosystem to a fully transferable token economy. Phased KYC-based migrations slowly transform illiquid balances on the previous system onto Mainnet in managed cycles that maintain network stability.

This increases the usability of tokens, but it also creates a perpetual growth in supply instead of a release event. By early 2026, the circulating supply estimates are around 8.38 billion Pi, and with each migration cycle, the market is progressively liquidated.

This expanding float directly shapes Pi Coin price behavior. Newly transferable tokens enhance sell-side availability at price levels where demand is selective and this limits upside follow-through. Consequently, rebounds are more likely to die rather than become long-term trends.

Additionally, the recent launch of streamlined payment integration library lowers friction for developers, allowing Pi-based payments to be embedded into apps within minutes rather than hours. Thus, structural value is enhanced by Mainnet development, whereas the price is regulated by the efficiency of absorption.

Pi Coin Price Structure Sets Conditions for Supply Reclaim Pi Coin price continues to consolidate above the $0.19-$0.20 demand zone, an area that has consistently absorbed sell pressure since the late-2025 breakdown. This foundation determines where sellers run out of steam, and further continuation is not possible. 

Stabilization however does not mean recovery. For Pi Network price to shift from balance into expansion, price must reclaim and hold above the $0.2155 resistance, which currently caps the consolidation range.

The level $0.2155 was a previous support that turned into resistance after being rejected twice. The above supply is confirmed by the fact that each time a failed attempt is made above it, the supply is active at that point. 

A long-term position above $0.2155 would indicate that buyers are taking in migration-based supply and not being defensive. In the event that this is the case, price has structural leeway to swing upwards into the higher end of the supply zone of 0.26-0.28, where the distribution was previously heavier.

This is a conditional view that is backed by momentum. RSI levels off at 45 indicating neutral pressure and not accumulation dominance. Upside continuation is structurally justified in case RSI companies surpass this threshold and a reclaim of 0.2155. Failure to reclaim would reinforce prolonged range-bound behavior, delaying recovery in the long-term Pi Network price prediction.

PI/USDT Daily Chart (Source: TradingView) Summary Pi Coin price reflects structural digestion driven by Mainnet migration and rising supply. The advancement of networks enhances the viability of the long term, but it inhibits the short-term growth. 

Stabilization is the prevailing result as long as price is above $0.20. A long-term recovery of $0.2155 would open the door to recovery possibilities of greater supply levels. Until then, Pi Network price remains dictated by structure rather than momentum.

Frequently Asked Questions (FAQs) Mainnet migration transfers verified Pi balances from a closed environment into a fully transferable blockchain system through phased KYC-based processes.

Each completed migration unlocks previously illiquid tokens, gradually adding them to the tradable supply instead of releasing them all at once.

Utility growth improves real-world use cases and network functionality, supporting long-term value even if short-term price pressure persists.

Ethereum is trading in the $3.1K zone. $33.30M liquidated in the ETH market. With the broader crypto market suffering the downside risks, the token’s price action is moving all ways, giving conflicting signals. Some of them are charted in green, and the rest in red. Meanwhile, Ethereum (ETH), the largest altcoin, has been battling to shift its momentum upward to the fullest, but ended up facing rejections.

In the early hours, the ETH price was traded at a high range of $3,143.04. The asset’s price faced hurdles in climbing, and gradually slipped to a bottom level of $3,068.07. It has posted a spike of over 0.96% in the last 24 hours. If the altcoin continues to lose momentum, the price will also begin to plummet to its former lows. 

At press time, Ethereum traded at around $3,124.77, and its market cap is at $377.74 billion. In addition, the daily trading volume has increased by over 15.17%, reaching the $18.68 billion mark. The Coinglass data has reported that the market has experienced a 24-hour liquidation event of $33.30 million worth of Ethereum. 

Will Selling Pressure Continue to Weigh on Ethereum? With the bearish trading pattern, the Ethereum price could fall toward the support at around $3,110. The risk of falling further could form the death cross, and it may delay the recovery, pushing into a consolidation zone. Upon a recovery, Ethereum might climb to the $3,138 resistance range, likely setting the stage for a rebound to recent highs. As the golden cross emerges, it may break above, confirming a sturdy bullish trend. 

When both the Moving Average Convergence Divergence (MACD) line and the signal line are found below the zero line, it indicates that bearish momentum is dominant. Ethereum is trading below, and unless the lines start moving back above zero, the downside continues.  

Besides, the Chaikin Money Flow (CMF) indicator at 0.20 suggests strong buying pressure in the ETH market. Significantly, the money is flowing into the asset, reflecting accumulation and positive sentiment. As long as it stays above zero, it supports a bullish bias.

The daily Relative Strength Index (RSI) of Ethereum stayed at 52.33, implying a neutral to slightly bullish setup. It has balanced momentum, with neither buyers nor sellers in clear control. There is room for movement in either direction. Moreover, the Bull Bear Power (BBP) value of 15.07 signals strong bullish dominance. The buyers are firmly in control, with the ETH price trading above, hinting at strong upward momentum.

Top Updated Crypto News

Red Candles Stack Up for OFFICIAL TRUMP (TRUMP): Will Sellers Tighten Their Grip?

Content Writer | Crypto Enthusiast | Bridging Literature and Blockchain

Former New York City Mayor Eric Adams launched a NYC meme coin on Monday, which surged to a $580 million market cap before crashing 81% to $110 million as a wallet linked to the deployer pulled $2.5 million in liquidity at the peak.

NYC Token Hits $580M Then Collapses In MinutesAdams unveiled the Solana (CRYPTO: SOL)-based meme coin wearing a Fendi scarf and baseball cap showing the NYC ticker symbol, saying the project would fight “antisemitism and anti-Americanism” while teaching children blockchain technology.

The token rocketed from launch to a $580 million market cap within minutes before plummeting 81% as nearly $500 million in value evaporated. 

Analytics firm Bubblemaps identified suspicious activity by wallet 9Ty4M, which created one-sided liquidity pools on Meteora. 

The wallet removed approximately $2.5 million in USDC at the peak, then added back $1.5 million after a 60% drop with no explanation for the liquidity moves.

Moreover, one trader lost $473,500 (a 63.5% loss) in under 20 minutes as panic selling hit the token.

Blockchain data shows the wallet linked to the token deployer pulled $3.18 million USDC from the liquidity pool right as price peaked.

Adams Calls It A ‘Commemorative Asset’ For Social CausesAdams said during the Fox Business interview that “a substantial amount of the money raised” would go to nonprofits, historically black universities, and scholarships for New York City students from underserved communities. 

He’s not currently taking a salary but said that decision could change later.

The token has a maximum supply of 1 billion coins, with 80 million available at launch expanding to 300 million in circulation. 

The official website describes NYC Token as representing “the spirit of New York City—innovation, diversity, and the drive to succeed.”

However, critical details like project partners and a whitepaper are missing from the website, prompting questions about transparency. 

Pattern Matches Argentine President’s Failed LIBRA TokenThe collapse echoes last year’s LIBRA token promoted by Argentine President Javier Milei, which crashed after similar liquidity manipulation and led to fraud and racketeering class-action lawsuits.

Bubblemaps said the liquidity manipulation closely mirrors the LIBRA launch, when actors also heavily manipulated liquidity.

The pattern of politician-backed memecoins launching with fanfare then immediately collapsing is becoming a concerning trend.

Adams earned the nickname “Bitcoin Mayor” after taking his first three paychecks in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in 2022. 

He hosted NYC’s inaugural Crypto Summit last year and established the Office of Digital Assets and Blockchain Technology, vowing to make New York “the crypto capital of the globe.”

Political Memecoins Face Growing ScrutinyNYC Token joins TRUMP (CRYPTO: TRUMP) and MELANIA (CRYPTO: MELANIA) as politician-backed memecoins that combine celebrity influence with crypto speculation. 

Senator Adam Schiff (D-CA) is among lawmakers calling for ethics rules preventing public officials from profiting on crypto ties as a market structure bill approaches Thursday’s markup vote. 

These tokens raise concerns because they can be used to corrupt elected officials.

A federal judge dismissed Adams' corruption charges in April at the Department of Justice's request under President Trump.

Image: Shutterstock

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

XRP’s price has remained volatile, struggling to hold above the $2 support zone amid broader market sentiment.

The cryptocurrency briefly dipped below this level before rebounding. At press time, XRP was trading at $2.06, up about 0.5% in the past 24 hours, though it is down roughly 13% on the week.

XRP seven-day price chart. Source: Finbold With XRP showing vulnerability below $2, there remains a risk of further downside, including a possible move toward $1.

Against this backdrop, an outlook generated by OpenAI’s ChatGPT assigned a 25% to 30% probability that XRP could fall to $1 at some point in 2026. The assessment suggests such a decline would more likely stem from external shocks rather than XRP-specific weakness.

A broad risk-off move across financial markets, driven by tighter liquidity or an equity market sell-off, could weigh on cryptocurrencies overall and drag XRP lower. The analysis also noted that profit-taking after extended rallies can lead to deep corrections, which are not unusual following strong multi-month advances.

Additionally, escrow-related supply dynamics could amplify downside pressure during sustained selling, while a technical break below long-term support in the mid-$1 range could accelerate losses through momentum-driven trading.

XRP price below $1  However, ChatGPT views a sustained move to $1 as less likely under normal market conditions. It pointed to improved regulatory clarity after 2025, which has reduced the risk premium that previously weighed on XRP.

Increased institutional participation through exchange-traded products and structured vehicles is seen as supporting liquidity and dip-buying near key psychological levels. 

At the same time, growing use of the XRP Ledger in payments and tokenization is viewed as strengthening its fundamental backdrop. 

The $1 level is identified as a historically significant support zone that would likely attract buyers unless markets face a severe systemic shock.

Scenarios of XRP plunging to $1. Source: ChatGPT Overall, ChatGPT assigned a relatively small probability to a full bear-shock scenario involving a broad crypto drawdown. The most likely outcome is seen as an extended correction with range-bound trading and higher lows, while a base-to-bull scenario in which XRP holds key support despite volatility is also considered plausible.

Featured image via Shutterstock

Cardano Founder Charles Hoskinson's total silence on X is entering its 12th day. The Cardano founder last posted or replied on X on Jan. 1; he has not interacted with any post on X since that date, unlike his usual self.

World Liberty said traders can now trade supported pairs on Solana natively using USD1 and that Trojan has enabled full USD1 integration in their new terminal, giving traders more flexibility when markets move. They called this another step in expanding USD1’s presence on Solana. For beginners and investors alike, this update highlights how stablecoins are becoming core tools in crypto markets and not just placeholders for dollar value.

Why Native USD1 Matters on Solana Stablecoins are widely used in crypto to provide a reliable yardstick of value. USD1’s recent growth on Solana reflects that need. Launched in April 2025, USD1 quickly reached roughly $2.2 billion in market capitalization, placing it among the fastest-growing stablecoins in the ecosystem. Solana itself hosts nearly $12 billion in circulating stablecoins, including USD1 alongside USDC, USDT, and others.

Native integration in trading terminals matters because it means traders do not have to rely on external bridges or complex conversion processes. Instead, they can execute trades directly within the interface they use most. Flexibility in execution becomes especially valuable when markets swing quickly, such as during sudden price shifts or periods of high volatility.

Trade supported pairs on Solana natively using USD1.

Trojan has enabled full USD1 integration in their new terminal, giving traders more flexibility when markets move.

Another step in expanding USD1’s presence on Solana. https://t.co/0SByfEV74S pic.twitter.com/fw5rjnugGI

— WLFI (@worldlibertyfi) January 12, 2026

A recent trend reinforces this point. Solana’s stablecoin market has seen explosive growth, with total supply and activity rising sharply over the past year. Total stablecoin balances on Solana climbed from roughly $5 billion to more than $12 billion, a surge of over 130 percent year‑to‑date.

More About USD1 World Liberty announced that Week One rewards are now live for WLFI Markets. Users can deposit USD1 to earn a share of $WLFI, with rewards scaling based on the amount deposited each week.

Markets, accelerate ➡️.

Week One rewards are now live for WLFI Markets. Deposit USD1 to earn your share of $WLFI. Rewards scale with USD1 deposited on a weekly basis. https://t.co/YJEQmXOJSb

— WLFI (@worldlibertyfi) January 12, 2026

In addition to USD1, traders can supply other assets such as WLFI, ETH, cbBTC, USDC, and USDT to earn rewards or unlock borrowing options through the Dolomite platform. This approach allows participants to maximize returns while engaging with multiple tokens, offering both flexibility and incentives in one integrated ecosystem.

Disclaimer The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.

Dash leads a sharp rally in privacy coins as Monero, Zcash, Verge and Horizen bounce from support, with thin liquidity magnifying moves versus Bitcoin and Ethereum.

Summary

Dash hit fresh short‑term highs, outpacing Monero and Zcash as privacy‑focused tokens from Verge to Horizen logged intraday gains amid renewed sector interest.​ Technicals show Dash and Monero breaking higher on strong volume toward nearby resistance zones, with traders eyeing round‑number targets if momentum extends.​ Analysts warn that thin liquidity versus Bitcoin and Ethereum leaves Dash, Monero and peers vulnerable to sharp reversals even as bulls reclaim key support levels. Dash price reached new highs in the past 24 hours, leading a rally among privacy-focused cryptocurrencies, according to market data. Monero also advanced as the privacy coin sector registered gains.

Privacy coins gain momentum after Dubai crackdown Dash (DASH) outpaced both Monero (XMR) and Zcash (ZEC) during the rally. Dash and Monero prices rose early Tuesday as privacy-focused tokens registered fresh gains. Zcash, which has declined in recent weeks, also showed renewed strength. Other coins, including Verge and Horizen, posted intraday gains. The upswing in the privacy coin segment occurred amid broader market volatility, with Bitcoin and Ethereum positioned at key price levels.

Dash traded higher as price action indicated increased buying pressure, reflected in a surge in 24-hour trading volume. Technical analysis shows near-term support in a lower range, while a resistance cluster has formed above current levels. A break above the resistance cluster could lead to a potential breakout, according to market observers.

Monero has gained attention among privacy-focused cryptocurrencies at the start of the year, even as Zcash led the sector through much of last year. Market focus has shifted toward Monero, which is regarded as a benchmark for transaction privacy due to its default use of obfuscation techniques. The token has rallied over the past 24 hours, accompanied by a surge in trading volumes, indicating strong market participation.

From a technical perspective, traders are monitoring whether momentum can carry prices higher. Support is identified below current levels. If the rally extends, market participants are watching a higher range as a potential next area of resistance, with a round-number level emerging as a longer-term upside target.

Analysts noted that liquidity in the privacy coin segment remains relatively thin compared with major cryptocurrencies such as Bitcoin and Ethereum. As a result, assets including Dash and Monero are more susceptible to sharp price swings. Privacy-focused tokens have begun to reclaim key technical levels amid renewed investor interest, raising the possibility that bullish momentum could continue. Alongside Dash, Monero, and Zcash, traders are monitoring Verge and Horizen for further signals from the sector.

TL;DR

Privacy coins rallied again as attention shifted to Monero (XMR) and Dash (DASH), with XMR setting a record above $679. XMR briefly traded above $1000 on Chinese markets, underscoring how uneven pricing can be when demand concentrates by venue. The move pulled the privacy segment back into formal risk management, but durability will depend on follow-through after the initial surge, while the spotlight stays on XMR and DASH for now. Privacy coins are flashing back onto traders’ dashboards as attention pivots to Monero (XMR) and Dash (DASH) after a renewed rally again. XMR set a new record above $679, and it even briefly printed above $1000 on Chinese markets, a reminder that this corner of crypto can move fast and unevenly. This resurgence is being read as a thematic rotation rather than a random tick because buyers are returning to the privacy narrative. The bounce is pulling a wider set of privacy coins into view, while the spotlight stays on XMR and DASH for now.

XMR and DASH pull the privacy segment back into focus Under the surface, the move is less about one candle and more about what it signals for positioning. When privacy coins rally, the market tends to reprice what liquidity is available and how quickly size can move across venues. The key point is that renewed interest in XMR and DASH is putting the privacy segment into formal risk management conversations. That creates a feedback loop: attention draws flow, flow draws more attention, and both can amplify volatility. For decision makers, the question becomes whether this is a short burst or the start of sustained allocation.

The price points themselves are doing the storytelling. A new record above $679 provides a clean reference level for how far the rally has already stretched, while the brief print above $1000 on Chinese markets adds a second, more emotional datapoint. The standout detail is that the same asset can trade at dramatically different levels depending on where demand concentrates. It keeps tape readers alert. Even without assuming what comes next, that disparity tends to sharpen attention and compress reaction times. For traders, it also raises the bar for confirmation before declaring a lasting breakout.

What happens next will be judged less by commentary and more by whether the market keeps focusing on XMR and DASH after the initial surge. If the bid persists, privacy coins could stay in the spotlight; if it fades, the move will be remembered as a sharp rotation that arrived and left quickly. The practical conclusion is that this rally has revived the privacy trade, but it has not yet proven durability across time and venues. In the near term, participants will track follow-through in price action and whether the segment continues to attract attention.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Engaged Capital, LLC (“Engaged Capital”), an investment firm specializing in enhancing the value of small- and mid-cap North American companies, today announced its intention to nominate a slate of highly qualified director candidates to the BlackLine, Inc. (NASDAQ: BL) (“BlackLine” or the “Company”) Board of Directors (the “Board”) in connection with the Company's 2026 Annual Meeting of Stockholders (the “Annual Meeting”). Glenn W. Welling, Founder and C.

Production of 5 million silver equivalent ounces for the year, including the Boumadine tailings operation

Record production of 545,491ounces at Zgounder for the month of December

MONTREAL, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce record quarterly production, recoveries, and throughput at its Zgounder Silver Mine in the Kingdom of Morocco for the three-month period ended December 31st, 2025.

Q4-2025 Operational Summary

Record silver production of 1.37 million (“M”) ounces (“oz”) up 2% from Q3-2025. December 2025 record silver production at Zgounder of 545,491 oz with mill feed grade of 147g/t grams per tonne (“g/t”) silver (“Ag”). Ore processed averaged 3,796 tonnes per day (“tpd”), representing an 14% improvement over Q3-2025 and running 41% above nameplate capacity. This includes a record average milling rate of 4,107 tpd milling rate in the month of December.Average head grade processed of 134 g/t Ag for the quarter.Sustained silver recovery averaged 91.2%.Sustained high mill availability at 99.0%, underscoring consistent operational discipline and reliability.Record underground mining rate of 1,387 tpd at 161g/t, and 2,800 tpd of ore from the open pit at 115 g/t, for a total mining rate of 4,187 tpd at 130 g/t, increasing stockpiled ore quarter-on-quarter. “Zgounder delivered another strong quarter, with solid Q4 production, recoveries, mining rate and throughput” said Benoit La Salle, President & CEO. “The team’s efforts throughout 2025 culminated in a record December, with a milling and mining rate of 4,107 tpd and 4,652 tpd, respectively, and an all-time high silver production of 545,491oz. We also published a new mine plan aligned with the current silver price environment, positioning Zgounder to maximize cash flow. With the 2025 ramp-up complete, our focus now shifts to disciplined execution, continuous optimization, and consistent delivery into 2026 and beyond.”

Q4-2025 and 2025 Summary Production Results

Production MetricsQ4-2025Q3-2025QoQ
Variance20252024YoY
VarianceSilver production (oz)1,371,3001,346,8822%4,829,1511,646,265193%Ore processed (t)349,242305,96414%1,178,420358,919228%Average head grade processed (g/t Ag)134146(8%)145171(15%)Silver recovery (%)91.292.5(1%)88.483.75%Mill availability (%)99.095.93%96.093.92%Mine production (t)385,216215,40579%1,038,132444,375134% Q4-2025 Operational Update 

Underground development and stope sequencing advanced during the quarter, supporting an average mining rate of 1,387 tpd at 161 g/t Ag. Underground tonnage and grade have now been on target for two consecutive quarters, positioning the mine to reach our 2026 objectives.

Open-pit operations during the quarter focused on finalising the ramp-up and reached 2,800 tpd of ore at a strip ratio of 13, for a total material movement rate of 38,814 tpd, near our long-term target of 45,000 tpd. With both mine ramp-ups completed, over 194,000 tonnes of stockpiled ore available, and record mill throughput, Zgounder is well positioned for 2026. Blast-movement control and bench-by-bench modeling were implemented in H2-2025 to maximise ore recovery and minimise external dilution. These aspects will continue to be the operational focus in 2026.

The mill processed an average of 3,796 tpd for the quarter and 3,229 tpd for the year, highlighting debottlenecking efforts at the Zgounder plant through the year. Recovery was sustained above 91% for H2-2025. Record throughput and recovery were achieved at the processing plant through improved blending, circuit optimization, and increased tailings-pumping capacity, allowing for steadier, higher-rate milling.

Finally, the Zgounder team efforts through 2025 culminated into a record month of December where the milling rate reached 4,107 tpd and the mining rate reached 4,652 tpd of ore, for an all-time high 545,491 oz of silver recovered at the plant in a single month.

Boumadine historical pyrite stockpile commercialization

In 2025, Aya started the reclaiming and sale of its historical pyrite stockpile at Boumadine. Operations started in Q4-2025 and 13,498 tonnes were reclaimed and crushed, at a grade of 192g/t Ag and 2.87 g/t Au. Total production of 1,245 oz of gold and 83,480 oz of silver was achieved, for a total of 172,129 oz of silver equivalent (AgEq1) for the year 2025.

2025 Total production Zgounder and Boumadine

In 2025, the company produced 4,829,151 oz of silver at its Zgounder mine and 172,129 oz of silver equivalent at Boumadine for a total AgEq production of 5,001,280 oz for the Corporation.

Qualified Person

The technical information contained in this press release have been reviewed and approved by Raphael Beaudoin, P. Eng, Vice-President, Operations, who is a “Qualified Person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Aya Gold & Silver Inc.

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The Corporation has established exploration leadership through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas Fault — one of Africa’s most geologically rich, underexplored and mining-friendly regions.

Aya operates Zgounder, a rare primary silver mine, and produces silver doré from its newly expanded processing facility. Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is underway. The project hosts a substantial mineral resource, a large mineralized footprint and significant exploration potential.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is committed to delivering sustainable value for shareholders, employees and host communities.

For additional information, please visit Aya’s website at www.ayagoldsilver.com.

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Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “continue”, “focused” “improving”, “executing”, “maximize”, “minimize”, “sustained”, “position”, “expect”, “maximize”, “plan”, “strong”, “solid”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the capacity of the Corporation to achieve continued improved production results namely mining, milling, processing, recoveries and overall production, to optimize operations, to create momentum for 2026, to sustain production and feed rates, to increase production in the coming months, for the blast-movement control and bench-by-bench modeling to enhance grade control, and its capacity to maximize cash flows. Although the forward-looking information contained in this press release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions, and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability of the plant to operate per its designed and intended purpose, the ability to obtain any requisite governmental approvals, obtaining regulatory permits for on-site work, importing goods and machinery and employment permits, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), the price of silver, the price of gold, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver gold and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya’s 2024 Annual Information Form dated March 31, 2025, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

1 A ratio Ag/Au of 71.20 was used, reflecting an average of the ratio of silver and gold spot price for November and December 2025

Seventh Consecutive Quarter of Revenue Over $5 Million Driven by Continued Strength in Medical Market and High-ASP Production Systems

Gross Margin Expands to 50% in the Quarter and 51% Year-to-Date

Third Quarter and Nine-Month Net Income Increased 24% and 32% Respectively

Backlog Reaches Record $12.3 Million Reflecting Continued Order Momentum

Reiterates Full Year FY 2026 Guidance Anticipating Modest Revenue Growth

MILTON, N.Y., Jan. 13, 2026 (GLOBE NEWSWIRE) -- Sono-Tek Corporation (Nasdaq: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today reported financial results for the third quarter and first nine months of fiscal year 2026, ended November 30, 2025.

Third Quarter Fiscal 2026 Highlights

Net sales for the quarter were $5.0 million, compared with $5.2 million in the prior-year period. This marked the seventh consecutive quarter with revenue exceeding $5 million.Gross profit increased 7% year over year to $2.5 million, with gross margin expanding to 50%, up from 45% in the prior-year quarter.Operating income increased 61% to $319 thousand, reflecting improved gross margin and operating leverage.Net income increased 24% to $340 thousand, or $0.02 per diluted share, compared with $274 thousand, or $0.02 per diluted share, in the prior-year quarter. First Nine Months Fiscal 2026 Highlights

Net sales for the first nine months totaled $15.3 million, essentially flat year over year.
Gross profit increased 6% to $7.8 million, with gross margin expanding to 51% from 48% in the prior-year period.
Operating income increased 69% to $1.22 million.Net income increased 32% to $1.25 million, or $0.08 per diluted share, compared with $0.06 per diluted share in the prior-year period.
Balance Sheet, Backlog and Guidance for Fiscal Year 2026

The Company ended the quarter with $11.7 million in cash, cash equivalents and marketable securities and no outstanding debt.Total backlog reached a record $12.26 million, increasing 16% year over year and 9% sequentially, reflecting continued strength in customer order activity.For the full fiscal year, the Company is reiterating its guidance reflecting an improved but watchful outlook, anticipating modest revenue growth, that balances market adjustments to recent governmental deemphasis of clean energy initiatives and evolving tariff policies with a positive offset from growing demand in the medical device market.
Management Commentary

Dr. Christopher L. Coccio, Executive Chairman, stated, “We delivered another solid quarter marked by our seventh consecutive period of revenue above $5 million, continued profitability, and meaningful margin expansion. The improvement in gross margin reflects the success of our strategy to prioritize higher-ASP production systems and maintain disciplined cost management, even as certain end markets experience near-term variability. Reaching a record backlog is particularly encouraging and highlights sustained customer confidence in Sono-Tek’s technology and long-term value proposition.”

Steve Harshbarger, CEO & President, added, “Demand for our advanced ultrasonic coating platforms remains strong, led by continued momentum in the medical device market and increasing adoption of high-value production systems. While U.S. alternative energy demand softened as anticipated due to policy-related timing shifts, growth across medical, electronics, and industrial applications more than offset this impact. With a strong balance sheet, record backlog, and an expanding mix of high-ASP systems, we are well positioned to drive consistent performance and long-term growth.

Third Quarter Fiscal 2026 Results (Narrative compares with prior-year period unless otherwise noted) ($ in thousands)   Three Months Ended November 30, Change  2025   2024  $ %Net Sales$5,004  $5,191  (187)  (4%) Gross Profit$2,512  $2,343  169  7% Gross Profit % 50%   45%             Operating Income$319  $198  121  61% Operating Margin 6%   4%             Net Income$340  $274  66  24% Net Margin 7%   5%      Third Quarter Fiscal 2026 Product and Market Highlights

Product Categories In-Line Coating Systems (previously referred to as Integrated Coating Systems) revenue increased sharply by 2,177%, driven by shipments of high-ASP production systems to a major solar energy customer.Multi-Axis Coating Systems declined 53% year over year due to reduced electrolysis-related demand following shifts in U.S. policy incentives.OEM Systems revenue increased 64%, reflecting stronger demand from fluxing and medical OEM partners.Fluxing Systems revenue increased 213%, driven primarily by stronger demand in Asia. End Markets Medical sales increased 27%, supported by strong demand for balloon catheter, stent, and diagnostic device coating systems.Electronics/Microelectronics sales increased 27%, reflecting increased fluxing demand and a semiconductor system shipment to South Korea.Industrial sales increased 116%, due to the shipment of a large, advanced textile coating platform to a U.S. government-related customer.Alternative Energy sales declined 35% due to reduced U.S. electrolysis activity following changes in government policy initiatives. Geographic Highlights

U.S. & Canada sales increased 21% in the quarter, supported by shipments of high-ASP integrated coating systems.Asia Pacific sales declined 34% in the quarter following a strong prior year quarter.Latin America sales declined 50% due to slower fluxing activity in Mexico and the non-recurrence of a prior-year orthopedic system shipment.EMEA sales decreased 26% due primarily to softer demand in the advanced energy market, particularly within electrolysis and fuel cell applications.   Nine Month Fiscal 2026 Results (Narrative compares with prior-year period unless otherwise noted) ($ in thousands)   Nine Months Ended November 30, Change  2025   2024  $ %Net Sales$15,300  $15,383  (83)  (1%) Gross Profit$7,766  $7,314  452  6% Gross Profit % 51%   48%             Operating Income$1,223  $722  501  69% Operating Margin 8%   5%             Net Income$1,249  $946  303  32% Net Margin 8%   6%              First Nine-Month Fiscal 2026 Product and Market Highlights

Product Categories In-Line Coating Systems (previously referred to as Integrated Coating Systems) revenue increased by 126%, reflecting shipments of 8 high-ASP production systems totaling approximately $5.9M to a major solar energy customer.Multi-Axis Coating Systems declined 46% year over year primarily due to slower electrolysis system demand following government policy changes.OEM Systems revenue increased 18%, reflecting stronger demand from fluxing OEM partners.Fluxing Systems revenue increased 80%, driven primarily by stronger demand in Asia.
End Markets
Medical sales increased 37%, supported by strong balloon coating systems shipped to the U.S., Europe, and China, solid stent coating activity, and expanding new applications in the medical field.Electronics/Microelectronics sales decreased 9%, following strong FY2025 semiconductor sales, and FY2026 customer timing for similar machines.Industrial sales decreased 26%, influenced by a large FY2025 European glass coating order that did not repeat.Alternative Energy sales declined slightly by 2% influenced by the shipment of eight high-ASP solar coating systems to the solar industry, which offset declines from the US electrolysis market.
Geographic Highlights

U.S. & Canada sales increased 3%, supported by shipments of high-ASP in-line coating systems.Asia Pacific sales increased 13% driven by medical sales in China and strong alternative energy demand in Japan and South Korea.Latin America sales declined 48% due to slower fluxing activity in Mexico.EMEA sales decreased 9% primarily due to softening advanced energy demand in electrolysis and fuel cell applications, partially offset by continued strength in medical system shipments. About Sono-Tek

Sono-Tek Corporation (Nasdaq: SOTK) is a global leader in the design and manufacture of ultrasonic coating systems that are shaping industries and driving innovation worldwide. Our ultrasonic coating systems are used to apply thin films onto parts in diverse industries including medical devices, semiconductors, microelectronics, alternative energy, advanced industrial manufacturing, and research and development sectors.

Sono-Tek has a long history of providing advanced coating solutions to the medical device industry, enabling precision coatings for life-saving technologies such as stents, balloons, diagnostic devices, and various drug delivery platforms. At the same time, our expertise in semiconductor and microelectronics applications continues to expand, as customers increasingly turn to Sono-Tek for solutions supporting next-generation chips, displays, and sensors. Alongside these markets, our technologies are also leading the way in next-generation clean energy coatings for fuel cells, carbon capture, advanced solar cells, and various other advanced industrial applications, underscoring the versatility and broad reach of Sono-Tek’s ultrasonic coating platforms.

Our product line is rapidly evolving, transitioning from R&D tools to high-volume production machines with significantly higher average selling prices, showcasing our market leadership and adaptability. Our comprehensive suite of thin film coating solutions and application consulting services ensures unparalleled results for our clients and helps some of the world’s most promising companies achieve technological breakthroughs and bring them to market. We strategically deliver our products to customers through a network of direct sales personnel, carefully chosen independent distributors, and experienced sales representatives, ensuring efficient market reach across diverse sectors around the globe.

Our growth strategy is focused on leveraging our innovative technologies, proprietary know-how, unique talent and experience, and global reach to further develop microscopic coating technologies that enable better outcomes for our customers’ products and processes. For further information, visit www.sono-tek.com.

Safe Harbor Statement

This news release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These “forward-looking statements’ are based on currently available competitive, financial and economic data and our operating plans. They are inherently uncertain, and investors must recognize that events could turn out to be significantly different from our expectations and could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions, including political, regulatory, tax, competitive and technological developments affecting our operations or the demand for our products; inflationary and supply chain pressures; continued strength of sales to the medical device market; continued private and public funding for the clean energy sector; continued strong demand for Sono-Tek’s suite of thin film coating solutions and application consulting services in the clean energy and other markets; maintenance of order backlog; evolving tariff policies; timely development and market acceptance of new products and continued customer validation of our coating technologies; adequacy of financing; capacity additions, the ability to enforce patents; maintenance of operating leverage; consummation of order proposals; completion of large orders on schedule and on budget; successful transition from primarily selling ultrasonic nozzles and components to a more complex business providing complete machine solutions and higher value subsystems; and realization of quarterly and annual revenues within the forecasted range of sales guidance. We undertake no obligation to update any forward-looking statement.

For more information:

Sono-Tek Corp.
Stephen J. Bagley
Chief Financial Officer
Ph: (845) 795-2020
[email protected]

Investor Relations
Kirin Smith
PCG Advisory, Inc.
[email protected]

 -FINANCIAL TABLES FOLLOW -

SONO-TEK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
     November 30,
2025
(Unaudited)  February 28,
2025 ASSETS                 Current Assets:        Cash and cash equivalents $5,395,695  $5,202,361 Marketable securities  6,323,566   6,727,678 Accounts receivable (less allowance of $12,225, respectively)  4,411,663   2,347,764 Inventories  3,656,898   4,474,401 Prepaid expenses and other current assets  305,690   236,261 Total current assets  20,093,512   18,988,465          Land  250,000   250,000 Buildings, equipment, furnishings and leasehold improvements, net  2,288,462   2,610,600 Intangible assets, net  31,794   37,386 Deferred tax asset  1,266,846   1,525,185          TOTAL ASSETS $23,930,614  $23,411,636          LIABILITIES AND STOCKHOLDERS’ EQUITY                 Current Liabilities:        Accounts payable $534,692  $859,483 Accrued expenses  2,008,801   1,718,574 Customer deposits  2,151,930   2,413,195 Income taxes payable  43,422   496,055 Total current liabilities  4,738,845   5,487,307          Deferred tax liability  59,349   132,134 Total liabilities  4,798,194   5,619,441          Commitments and Contingencies (Note 10)                 Stockholders’ Equity        Common stock, $.01 par value; 25,000,000 shares authorized, 15,754,480 issued and 15,710,389 outstanding as of November 30, 2025 and 15,751,153 issued and 15,749,037 outstanding February 28, 2025, respectively  157,545   157,512 Additional paid-in capital  10,260,711   10,018,034 Accumulated earnings  8,873,153   7,624,516 Treasury stock, at cost 44,091 shares and 2,116 shares, November 30, 2025 and February 28, 2025, respectively  (158,989)  (7,867)Total stockholders’ equity  19,132,420   17,792,195          TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $23,930,614  $23,411,636  See notes to unaudited condensed consolidated financial statements.

SONO-TEK CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
     Nine Months Ended
November 30,  Three Months Ended
November 30,   2025  2024  2025  2024              Net Sales $15,299,839  $15,383,416  $5,004,370  $5,190,596 Cost of Goods Sold  7,533,347   8,069,633   2,492,129   2,847,397 Gross Profit  7,766,492   7,313,783   2,512,241   2,343,199                  Operating Expenses                Research and product development costs  1,934,109   2,054,846   638,361   627,543 Marketing and selling expenses  2,656,804   2,814,804   927,300   929,196 General and administrative costs  1,952,085   1,722,210   627,608   588,823 Total Operating Expenses  6,542,998   6,591,860   2,193,269   2,145,562                  Operating Income  1,223,494   721,923   318,972   197,637                  Interest and Dividend Income  332,147   359,248   108,487   131,518 Net unrealized gain/(loss) on marketable securities  912   38,776   (658)  (15,165)                 Income Before Income Taxes  1,556,553   1,119,947   426,801   313,990                  Income Tax Expense  307,916   174,247   86,842   39,812                  Net Income $1,248,637  $945,700  $339,959  $274,178                  Basic Earnings Per Share $0.08  $0.06  $0.02  $0.02                  Diluted Earnings Per Share $0.08  $0.06  $0.02  $0.02                  Weighted Average Outstanding Shares - Basic  15,721,548   15,750,980   15,708,817   15,751,153                  Weighted Average Outstanding Shares - Diluted  15,736,330   15,771,039   15,724,960   15,771,511  See notes to unaudited condensed consolidated financial statements.

SONO-TEK CORPORATION
PRODUCT, MARKET, AND GEOGRAPHIC SALES
(Unaudited)
   Product Sales
     Three Months Ended
November 30,  Change  Nine Months Ended
November 30,  Change                2025  2024  $  %  2025  2024  $  % Fluxing Systems $222,000  $71,000   151,000   213%  $583,000  $324,000   259,000   80% In-Line Coating Systems  1,844,000   81,000   1,763,000   2,177%   6,428,000   2,850,000   3,578,000   126% Multi-Axis Coating Systems  1,666,000   3,563,000   (1,897,000)  (53%)  4,373,000   8,158,000   (3,785,000)  (46%)OEM Systems  425,000   259,000   166,000   64%   936,000   796,000   140,000   18% Other  847,000   1,217,000   (370,000)  (30%)  2,980,000   3,255,000   (275,000)  (8%)TOTAL $5,004,000  $5,191,000   (187,000)  (4%) $15,300,000  $15,383,000   (83,000)  (1%) Market Sales

  Three Months Ended
November 30,  Change  Nine Months Ended
November 30,  Change   2025  2024  $  %  2025  2024  $  % Electronics/Microelectronics $1,287,000  $1,016,000   271,000   27%  $3,686,000  $4,060,000   (374,000)  (9%)Medical  1,136,000   897,000   239,000   27%   2,949,000   2,156,000   793,000   37% Alternative Energy  1,912,000   2,959,000   (1,047,000)  (35%)  7,592,000   7,740,000   (148,000)  (2%)Emerging R&D and Other  18,000   17,000   1,000   6%   65,000   57,000   8,000   14% Industrial  651,000   302,000   349,000   116%   1,008,000   1,370,000   (362,000)  (26%)TOTAL $5,004,000  $5,191,000   (187,000)  (4%) $15,300,000  $15,383,000   (83,000)  (1%) Geographic Sales 

  Three Months Ended
November 30,  Change  Nine Months Ended
November 30,  Change   2025  2024  $  %  2025  2024  $  % U.S. & Canada $3,415,000  $2,823,000   592,000   21%  $9,674,000  $9,409,000   265,000   3% Asia Pacific (APAC)  734,000   1,114,000   (380,000)  (34%)  2,262,000   1,994,000   268,000   13% Europe, Middle East, Asia (EMEA)  706,000   957,000   (251,000)  (26%)  3,027,000   3,338,000   (311,000)  (9%)Latin America  149,000   297,000   (148,000)  (50%)  337,000   642,000   (305,000)  (48%)TOTAL $5,004,000  $5,191,000   (187,000)  (4%) $15,300,000  $15,383,000   (83,000)  (1%)