Market Signal Briefing

President Donald Trump's recent pardon of former Binance CEO Changpeng “CZ” Zhao has sent ripples through the cryptocurrency market, most notably triggering a sharp 14% surge in World Liberty Financial's WLFI token. The development has drawn attention to complex relationships between Binance, the Trump family's crypto ventures, and global investors.

In a surprising twist that shook the crypto market, Pump.fun experienced a significant 10% surge in its value within a single day, catching many investors off guard. This sudden increase was predominantly fueled by a substantial $2 million investment from a crypto whale, injecting optimism among stakeholders.

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James G.

Summarize this article with:

Tether, the world’s largest stablecoin issuer, is poised for another record year of profitability, reinforcing its dominance in the digital dollar market. As the global demand for blockchain-based payment systems accelerates, the company continues to stamp its dominance in the crypto space.

In brief

Tether projects $15B profit for 2025, marking another record year amid soaring demand for blockchain-based payments.
USDT circulation nears $184B, with over 500M users globally as Tether strengthens its digital dollar dominance.
The GENIUS Act boosts stablecoin adoption, reinforcing USDT’s role in expanding U.S. dollar influence worldwide.
Tether diversifies beyond finance, becoming Juventus FC’s second-largest shareholder to support the club’s revival.

USDT’s Worldwide Expansion Drives Tether’s Record Profit Projections
According to Bloomberg, the El Salvador–based firm expects to earn about $15 billion in profit in 2025, up from $13 billion in 2024. This anticipated growth underscores the strength of Tether’s business model and operational efficiency, making it one of the most profitable companies in the world on a per-employee basis.

Tether’s profitability is driven largely by the widespread use of its flagship token, USDT, which now has nearly $184 billion in circulation. The token’s dominance has attracted investors and fueled global adoption of digital dollars, particularly in regions where access to traditional banking remains limited.

Recall that the company is reportedly seeking to raise $20 billion at a $500 billion valuation, signaling its ambition to expand beyond its core stablecoin business. Although CEO Paolo Ardoino has not confirmed specific figures, he acknowledged ongoing discussions with “a select group of high-profile investors.”

Among these talks is a deal with Antalpha Platform Holding, a crypto-financing firm, to secure roughly $200 million in financing for a new public company focused on gold-backed digital tokens.

Recently, Tether announced that USDT has surpassed 500 million users worldwide, marking a major milestone in its growth. Ardoino described the achievement as a pivotal step toward financial inclusion, noting that the stablecoin has become an essential tool for individuals and businesses in emerging markets.

He added that the company continues to attract strong interest from potential investors and is working to establish a valuation it considers highly attractive.

Digital Finance Enters New Phase with Rise of Stablecoins
Following the U.S. Congress’s passage of the GENIUS Act—the country’s first legislation focused on stablecoins—the market has gained even greater momentum. The move represents growing recognition of blockchain-based payment systems as a way to reinforce the U.S. dollar’s global influence.

Tether co-founder Reeve Collins sees this as part of a larger shift that could reshape the global monetary system. He noted that in the future, most traditional currencies are likely to exist in tokenized form, operating as stablecoins within digital payment networks.

All currency will be a stablecoin. So even fiat currency will be a stablecoin. It’ll just be called dollars, euros, or yen.

Reeve Collins
Ardoino added that USDT now reaches about 6.25% of the global population, underscoring the scale of digital dollar adoption worldwide.

Beyond finance, Tether is extending its reach into sports. It now holds 10.12% of Juventus Football Club’s capital and 6.18% of its voting rights, making it the Italian club’s second-largest shareholder after Exor, the Agnelli family’s holding company. Tether also plans to participate in Juventus’s €110 million capital increase, aimed at helping the club recover financially.

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James G.

James Godstime is a crypto journalist and market analyst with over three years of experience in crypto, Web3, and finance. He simplifies complex and technical ideas to engage readers. Outside of work, he enjoys football and tennis, which he follows passionately.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Sat, 25/10/2025 - 15:18

XRP's burn rate has surged substantially, signaling an important change in market structure as price leads daily gainers.

Cover image via U.Today

As XRP continues to trade heavily on the positive side, the leading altcoin has seen a sharp surge in its burn activity, according to data from CryptoQuant, suggesting that a bigger price surge might be underway.

While XRP appears to be on track for a major comeback as its price shows the highest daily gains among the top 10 cryptocurrencies by market capitalization, the leading altcoin is seen retesting previous levels.

XRP surges 29.01% as price spikesAccording to data provided by the source, XRP has seen a decent increase in the quantity of XRP tokens burned as fees over the last day.

HOT Stories

While XRP saw a sharp resurgence in its price amid shifting investor sentiment over the last day, the positive trend was accompanied by a major surge in its burn activity. XRP burns saw a sharp rise to 676 XRP on Oct. 24 after falling to 524 XRP the previous day. This marks a decent increase of 29% over the last day.

With historical records showing that XRP had recorded significantly high burn volumes in the past months, hitting about 4,000 XRP around May, the recent surge witnessed in the metric is not impressive enough.

XRP restores hope to investorsAlthough the XRP burn activity in recent days has been moving slow, it signals resurgence in the token’s on-chain activity, fueling hopes for a bigger price rally that could see XRP reclaim the crucial $3 level soon.

Nonetheless, it is important to note that the growth in its burn rate suggests growing demand for XRP as it showcases the volume of transaction fees permanently removed from circulation amid heightened payment activity.

With Ripple’s recent acquisition, coupled with its growing footprint in traditional finance and the recent launch of Ripple Prime, XRP is increasingly garnering momentum, gradually becoming one of the most demanded cryptocurrencies.

Hence, the surge in the asset’s on-chain activity is no surprise as the developments have continued to spur more engagement for XRP, propelling its price to setting new records before the year ends.

Related articles

Ethereum price moved sideways this week as demand from retail and institutional investors remained weak.

Summary

Ethereum price pulled back as ETH ETF outflows jumped.
The coin has numerous catalysts, including its stablecoin growth.
ETH price has formed a bullish flag pattern, pointing to a rebound.

Ethereum (ETH) token was trading around $3,930 on Saturday, Oct. 25 — a level it has remained at in the past few days. This price is a few points above its lowest level this month. 

ETH ETF outflows continued 
One of the main reasons why Ethereum price remained under pressure is that institutional demand remained weak as fear prevailed. Data compiled by SoSoValue shows that Ethereum ETFs had over $243 million in outflows this week. They had $311 million in outflows in the previous week.

Ethereum ETFs have now recorded cumulative inflows of over $14.35 billion since their approval in 2024. They now manage over $26 billion in assets, with the iShares Ethereum Trust accounting for $15.6 billion. 

Ethereum ETF outflows coincided with a sense of market fear. Data compiled by CoinMarketCap shows that the Crypto Fear and Greed Index remains in the fear zone of 34. Also, the Altcoin Season Index has dropped to 23, a sign that demand for alternatives to Bitcoin has waned.

Still, Ethereum price has catalysts for a potential rebound. One of these key catalysts is the ongoing performance in the stablecoin industry. Data compiled by Artemis shows that stablecoin supply in the network has increased by 2.78% in the last 30 days. The adjusted transaction volume has risen to $975 billion in this period. 

Ethereum has also become a dominant player in the decentralized exchange industry. Its protocols handled transactions worth over $148 billion in the last 30 days. All this has led to a higher revenue in the network. Revenue jumped to $1.26 million in the previous 24 hours.

Ethereum price technical analysis 
ETH price chart | Source: crypto.news
The daily chart shows that the ETH price has bounced back from a low of $1,376 in April to a high of $4,963 in August. It has remained above the 200-day Exponential Moving Average, which is a bullish sign.

Ethereum price has also formed a bullish flag pattern, which is made up of a vertical line and a descending channel. This pattern often results in a strong bullish breakout.

The coin remains above the Major S/R pivot point of the Murrey Math Lines. Therefore, it will likely have a strong bullish breakout, potentially to the ultimate resistance at $5,000, which is about 27% above the current level. 

Bitcoin Treasury Firms Now Valued at Less Than Their BTC Holdings Amid Crumbled SentimentSector giant Strategy (MSTR) still trades at a premium to its bitcoin stack, but maybe not for long if the trend continues. Oct 25, 2025, 4:00 p.m.

As bitcoin treasury companies continue to struggle with tumbling share prices and rapidly slowing bitcoin accumulation in a tightening market, many are now trading below a 1x multiple to their net asset value (mNAV).

In other words, for these “pure play” treasury holders (i.e., excluding miners like MARA Holdings and broader crypto platforms such as Bullish), their market capitalization has dropped beneath the value of their bitcoin holdings.

Semler Scientific (SMLR) began its bitcoin treasury strategy in mid-2024 and accumulated over 5,000 BTC. Despite that, its share price is now trading roughly at the same level it was when the company began its bitcoin journey, around $24 per share, which now gives the company an mNAV of just 0.80x.

While Semler is currently in the process of being acquired by a relative newcomer, Strive (ASST), the buyer is also facing its own challenges.

A roughly 90% decline in Strive's stock price since completing a SPAC merger just over one month ago has left ASST's valuation at only about 50% of the value of the 5,885 bitcoin on its balance sheet.

This is also the case for another recently completed SPAC, KindlyMD (NAKA), the 19th-largest publicly traded bitcoin-holding company, which holds 5,765 BTC and trades at just 0.50x mNAV — a market cap of roughly $300 million and bitcoin holdings worth around $631 million. The company has $250 million in outstanding convertible debt, which could partly explain the significant discount.

While these are just a few notable examples, the valuations are largely the same across the board for these pure-play bitcoin treasury companies.

Other notable names are also trading below their NAV, according to BitcoinQuant data: Capital B (ACPB) at 0.75x (holding 2,818 BTC), The Smarter Web Company (SWC) at 0.72x (holding 2,660 BTC), H100 Group (GS9) at 0.88x (holding 1,046 BTC), and Metaplanet (3350) at 0.98x (holding 30,823 BTC).

These same companies were trading at significant premiums during the summer bull market. Since then, investor sentiment has shifted sharply from optimism to caution to the current full-out despair.

The discounts now raise an important question: do they represent real value, or is the market reflecting broader uncertainty about these firms’ balance sheets and execution?

What can treasury companies do to get back to a premium?Sentiment needs to change, and that will likely require a stronger bitcoin market.

Bitcoin — while higher for the year — now sits at about the same level it was at on Jan. 20, the day of President Trump's inauguration. One aspect has been particularly frustrating for bulls: bitcoin has done little this year while stocks and precious metals continued to soar almost daily.

While it's challenging to control macroeconomic events, bitcoin treasury companies can consider several strategies to mitigate the discount.

One option is to buy back their stocks, which can be funded either by selling some bitcoin or issuing credit. The latter, however, depends heavily on a company’s ability to secure favorable terms and generate enough revenue to service new debt.

An example of this is Empery Digital, which has announced a $100 million credit facility to fund $150 million worth of stock repurchases. However, since this announcement, the stock has declined 10%, resulting in losses of 60% year-to-date. Additionally, Sequans Communications (SQNS), which holds 3,234 BTC, recently announced an American Depositary Share (ADS) buyback program representing 10% of its outstanding shares, authorizing the repurchase of up to 1.57 million ADSs. It is also down 27% since this announcement.

Another approach is to utilize their bitcoin by deploying a portion of their holdings into low-yield trading or liquidity strategies that generate modest single-digit returns. This is similar to what a bitcoin miner that is also buying BTC in the open market, MARA Holdings (MARA), has begun doing.

Strategy: the last one standingAmong the top 20 pure-play public bitcoin-holding companies, Michael Saylor's Strategy (MSTR) now stands alone in trading at a premium to its BTC stack.

At last check, the company's mNAV was roughly 1.39x. This, however, has been narrowing rapidly. At Strategy's record high stock price of $543 in November 2024, it was trading for nearly triple the value of its bitcoin.

Now, roughly one year later and with not just vastly more bitcoin on its balance sheet, but also about a 60% rally in the price of BTC, MSTR shares have tumbled to $285.

It's worth noting that a mNAV below 1.0 is not necessarily a death sentence. Even Strategy experienced a similar discount during the 2022 downturn. Those who bought in then were rewarded with exceptional returns — MSTR is higher by nearly 10 times since then, even with the recent decline in share prices.

Whether newer entrants now grappling with challenges similar to those MSTR faced in 2022 can also stage a recovery remains to be seen.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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ETH $10K Path Projected by Analyst as Ether Whales and Sharks Show ‘Signs of Confidence’

Analysts on X outlined five-digit targets for ether while Santiment said larger wallets have started adding again, framing a longer path higher if resistance gives way.

What to know:

Analysts sketched five-digit scenarios for ether, including a long-term $10,000 projection and a $13,500 target by 2029.On-chain analytics startup Santiment said larger wallets (100–10,000 ETH) have begun adding again, a shift it called a sign of improving confidence.The projections are multi-year, not immediate, and hinge on ether clearing major resistance before momentum can build.Read full story

The Ethereum price prediction 2025 narrative is becoming increasingly bullish as 2026 is only a few months away. This optimism is largely due to a significant shift in institutional demand from Bitcoin to Ethereum. With Ethereum ETFs now surpassing Bitcoin ETFs in quarterly inflows and whale accumulation returning, ETH is showing renewed momentum heading into the final months of the year.

Institutional Rotation Redefines ETF LandscapeIn the $3.76 trillion global cryptocurrency sector, Bitcoin and Ethereum together account for over 70% of the market. However, recent ETF data indicates a shift in institutional sentiment. 

Bitcoin ETFs, which previously attracted over $30 billion from late 2024 to mid-2025, saw inflows decline to just $8 billion in the third quarter of 2025. 

In contrast, Ethereum ETFs experienced a surge in popularity, reaching $9 billion in inflows during the same quarter. This marks their strongest quarter yet and the first time that ETH has outpaced BTC in ETF demand. 

While it’s too early to say whether this shift could indicate a change in dominance, it’s clear that Ethereum is evolving, but BTC still holds the biggest share.

Moreover, XWIN Research Japan highlighted this trend in ETFs as a significant shift in investment strategy among institutional investors. They also mentioned that the Ethereum fund holdings have doubled in 2025, reaching 6.8 million ETH by October, which confirms sustained accumulation. 

Even during market pullbacks, fund volumes have continued to grow, reflecting long-term confidence rather than short-term speculation.

Ethereum Gains Ground Amid Bitcoin’s ETF SlowdownWhile Bitcoin ETFs dominated early 2025, their inflows have turned more volatile as institutions rebalance. The Ethereum ETF momentum, however, underscores a structural shift as investors are now prioritising assets offering yield through staking and exposure to on-chain innovation.

This shift suggests that professional investors are moving from simple store-of-value strategies toward protocols with real-world utility and income potential. If this pattern persists into Q4 2025, Ethereum could soon redefine portfolio allocations across the digital asset market, setting a new benchmark for institutional exposure.

Whales Return as On-Chain Confidence BuildsBeyond ETF inflows, Ethereum on-chain data indicate renewed accumulation by whales and sharks. After dumping roughly 1.36 million ETH between October 5 and 16, wallets holding between 100 and 10,000 ETH have begun rebuying, accumulating about 218,470 ETH in the past week.

This rebound in accumulation signals recovering confidence among large holders. Historically, similar patterns have preceded multi-month rallies, as these participants tend to buy during periods of structural lows.

Ethereum Price Prediction 2025 Technical Setup: ETH Eyes $5,600 if Support HoldsTechnically, the Ethereum price chart supports the bullish case. Ethereum price today trades near $3,950, holding strong above the $3,670 to $3,870 support range, a zone that has flipped from resistance to key support in the final quarter of this year.

This level also aligns with the midline of a long-term ascending channel that has defined ETH’s broader uptrend since 2023. If this support continues to hold, the Ethereum price forecast 2025 anticipates a move toward $5,600, which coincides with the upper channel resistance, implying nearly 40% upside before the year’s end.

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Brad Garlinghouse recently outlined all significant acquisitions made by the company in recent years.

Ripple has had a big year ever since 2024’s US presidential elections, when Donald Trump won his second victory to return to office in early 2025. Given his election campaign and the countless pro-crypto promises he made, including firing then-SEC Chair Gary Gensler, who led the war against the industry and Ripple in particular, it was evident that the winds would shift substantially, especially for US-based companies.

The Brad Garlinghouse-led entity has been at the forefront of beneficieries, mostly since the tides at the SEC changed and the four-year-long battle between the two sides finally concluded in a positive way for Ripple. But even before the end of the lawsuit, the company had started to make some bold acquisition moves, and Garlinghouse acknowledged them on Friday in a post on X.

With today’s close of Hidden Road (now Ripple Prime), Ripple has announced 5 major acquisitions in ~2 years (GTreasury last week, Rail in August, Standard Custody in 2024, Metaco in 2023). As we continue to build solutions towards enabling an Internet of Value – I’m reminding you… https://t.co/O5Uub7ulw9

— Brad Garlinghouse (@bgarlinghouse) October 24, 2025

5 Big Purchases
It all started in May 2023 with a $250 million deal to acquire Metaco, a Swiss-based crypto custody provider. It allowed Ripple to enhance its enterprise offerings, providing customers with the technology to custody, issue, and settle any tokenized assets.

Less than a year later, another purchase made the headlines when Ripple’s President, Monica Long, outlined the acquisition of Standard Custody & Trust Company, an enterprise-grade regulated platform for cryptocurrencies.

Then came 2025, when the number of deals skyrocketed to three (so far). Rail, a platform built to help businesses move money with speed, transparency, and trust using stablecoins and fiat together, was bought for $200 million.

Aside from highlighting plans to create its own billion-dollar treasury company, Ripple also acquired the treasury software provider GTreasury for $1 billion to strengthen corporate finance relationships.

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The most expensive was the purchase of the prime broker Hidden Road. Although it was initially announced in April, the deal became official earlier this week, and the platform is now known as Ripple Prime.

“We’re pleased to share that our acquisition of Hidden Road is officially complete, making Ripple the first crypto company to own and operate a global, multi-asset prime broker – bringing the promise of digital assets to institutional customers at scale,” reads the firm’s statement.

XRP Impact?
The XRP Army rejoiced with each purchase and the SEC lawsuit conclusion, but some questioned the positive effects on the underlying asset, which peaked in July but has dropped by roughly 30% since then. CryptoSensei directly asked Garlinghouse about XRP’s role in the overall Ripple infrastructure, especially since the introduction of the project’s stablecoin (RLUSD) at the end of last year.

Brad, many in the XRP community are trying to understand how the clearing and settlement process will work now that Ripple has integrated Hidden Road under Ripple Prime.

We’ve heard RLUSD mentioned as the core settlement asset — but is that RLUSD operating on the XRP Ledger or…

— CryptoSensei (@Crypt0Senseii) October 24, 2025

Another user tried to explain that XRP is used for liquidity, and its true purpose is to serve as a liquidity pool. A higher USD valuation would make it easier to complete transactions in seconds, having to use less XRP. RLUSD is backed in a one-to-one ratio with the greenback, but it doesn’t solve the liquidity problem, the user said.

Chainlink (LINK) has entered one of its most promising accumulation phases of the year, with institutional investors steadily increasing their holdings over the past five months. Recent data shows that whales have withdrawn over 128,000 LINK, valued at roughly $2.2 million, from major exchanges such as OKX and Kraken within the last 24 hours alone.

The cryptocurrency market has not had its typical “Uptober” performance so far this month, with most large-cap assets falling to new local lows in the past few months. The Ethereum price, which was on the verge of hitting $5,000 a few weeks ago, is now languishing below the $4,000 mark.

While the “king of altcoins” had a stop-start performance over the past week, its price seems to be in a better place than it was seven days ago. However, an interesting outlook has emerged for the Ethereum price, with the altcoin believed to have already reached its peak in this cycle.

How Feasible Is A Double Top For ETH Price?
Popular crypto analyst Ali Martinez recently took to the social media platform X to share insights into the current setup of the Ethereum price. According to the market pundit, the second-largest cryptocurrency could be in for an extended bearish period over the next few weeks.

This evaluation revolves around the potential formation of the “double top” pattern on the 3-day timeframe of the Ethereum chart. For context, the double top formation is a technical analysis pattern suggesting a possible bearish trend reversal after an asset’s price touches a resistance level without breaking through.

Source: @ali_charts on X
As observed in the chart above, the initial top came around late 2021 during the altcoin season when the price of ETH rose to the then-all-time high of above $4,800. This price peak was followed by a market crash, which saw the value of Ethereum drop to around the $1,000 mark by mid-2026. 

Meanwhile, the purported second top of this Ethereum price setup is the current all-time high of $4,946, reached earlier in August 2025. According to data from CoinGecko, the altcoin’s value is currently more than 20% adrift from this record high.

While the two tops (nearly four years) look somewhat identical, the price action between them makes it tricky to definitively call them a “double top” pattern. Moreover, the double top can only be confirmed when the price drops below the support level, which typically is the lowest point between the two peaks. This support level would then be at around $1,000, which is a significant distance from the current price point.

Nevertheless, it is important to pay attention to the price movement of ETH over the next few weeks, as it could provide insight into the coin’s future relative to this setup.

Ethereum Price At A Glance
As of this writing, the price of ETH stands at around $3,983, reflecting an almost 3% jump in the past 24 hours.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from iStock, chart from TradingView

Ripple and Hidden Road: The Blueprint for a New Wall Street?Crypto analyst SMQKE reports that Teucrium’s CEO believes Ripple is building a “new Wall Street” through its acquisition of Hidden Road, now Ripple Prime. 

Beyond cross-border payments, Ripple’s rapidly expanding roadmap signals an ambitious push to redefine institutional finance.

Ripple has long positioned XRP as a high-performance liquidity asset, capable of settling transactions in seconds at a fraction of traditional costs. But today, the spotlight is on Ripple’s expanding institutional ecosystem. 

The completed acquisition of Ripple Prime, a fast-growing non-bank prime broker, marks a major leap in regulated access to digital assets. 

With secure global custody and streamlined brokerage infrastructure, Ripple Prime removes friction for hedge funds, asset managers, and other major market participants. Together, it accelerates XRP’s path from cross-border utility token to a core pillar of institutional finance.

Teucrium’s CEO argues Ripple isn’t just improving payments, it’s modernizing capital markets. Legacy settlement systems still depend on slow intermediaries and fragmented liquidity, creating friction across global finance. 

Notably, Ripple is directly attacking that inefficiency with real-time settlement, tokenized assets, and infrastructure that seamlessly connects traditional markets to digital rails, a shift poised to redefine how value moves worldwide.

Why is this development worth a keen eye? Well, the reference to a “new Wall Street” isn’t just a metaphor, it’s a bold ambition. Ripple aims to redefine global finance with infrastructure that enables instant value transfer, unified liquidity, and transparent institutional markets operating at speeds legacy systems can’t match.

At the center of this redesign is XRP. Purpose-built as a neutral, efficient settlement asset, XRP allows capital to move seamlessly across borders without the friction of correspondent banking. 

As more financial institutions adopt blockchain to reduce cost, risk, and settlement delays, XRP’s utility continues to accelerate, and so does the momentum behind Ripple’s vision.

XRP Enters Elliott Wave 5: Bullish Momentum Builds Above Key $2.45 LevelXRP is flashing a powerful bullish signal as it enters what market analyst Bit Guru describes as the 5th wave of a developing Elliott Wave pattern, typically the phase where strong upside acceleration materializes. 

Source: Bit GuruWith price action currently holding above the crucial $2.45 support and trading around $2.58, bullish momentum appears to be gaining traction at a pivotal time for the digital asset.

According to the Elliott Wave model, a core framework in technical analysis—bull markets typically unfold in five powerful waves. XRP appears to have completed its corrective phase and is now entering its decisive fifth wave, where breakout momentum historically accelerates. 

As a result, Bit Guru notes that holding support above $2.45 is crucial because maintaining this level would validate the bullish wave structure and keep XRP on track for a continued upward surge.

Notably, a breakout above $2.50 puts XRP on track for a $2.70–$3.00 target zone, aligned with key Fibonacci 5th-wave extensions. A decisive close above $2.70 could unlock multi-month highs and spark renewed momentum across the XRP market.

ConclusionRipple’s integration of Ripple Prime and its mission to anchor XRP at the center of institutional settlement signal a future where global markets move with unmatched speed, transparency, and efficiency. Wall Street’s transformation won’t be instant, but the shift is already underway.

Meanwhile, with XRP holding strong above the $2.45 support and powering into its 5th Elliott Wave, bullish momentum is rapidly building. All eyes are now on the critical $2.70 breakout, a move that could trigger a new phase of price discovery and accelerate XRP’s broader market resurgence.

XRP is showing signs of renewed caution as traders assess the likelihood of a breakout, with key levels under scrutiny in the $2.00–$2.30 range. Despite positive developments from Ripple's on-chain infrastructure and treasury initiatives, market sentiment has remained tentative, keeping investors on edge.

Ethereum's derivatives market is on fire — open interest in futures and options remains at boisterous levels as traders double down on ETH's climb near the $4,000 mark. Ethereum Derivatives Market Explodes According to Coinglass futures data, ether futures open interest sits at $46.27 billion, marking a significant expansion across exchanges.

Cardano price has crashed into a bear market this month, as it fell by ~40% from its highest point in August. 

Summary

Cardano price has plunged into a bear market this year.
It is about to form a death cross on the daily chart.
The network’s ecosystem has continued to deteriorate.

Cardano (ADA) token was trading at $0.6420 today, Oct. 25, and technical analysis points to at least a 20% dip in the near term. 

Cardano price technicals point to a ~20% dip
The daily timeframe chart shows that the ADA price has come under pressure in the past few months. It has moved from $1.0196 in August to $0.6330 today. 

This crash has coincided with the general weakness in the crypto market. It dropped below the critical support level at $0.6858 on Oct. 10 and then retested it. A break-and-retest is a common bearish continuation sign. 

Worse, the 50-day and 200-day moving averages are about to cross each other. Such a crossover would be a death cross, one of the riskiest patterns in technical analysis. 

The Supertrend indicator has turned red, while the Relative Strength Index and the Percentage Price Oscillator have all pointed downwards.

The Cardano price has also formed a bearish pennant pattern, consisting of a vertical line and a triangle. Therefore, all these patterns point to more downside, potentially to the year-to-date low of $0.5085. This target is about 20% below the current level.

On the flip side, a move above the 200-day EMA at $0.80 will invalidate the bearish ADA price forecast.

ADA price chart | Source: crypto.news
Cardano ecosystem woes continue
Cardano token has remained under pressure amid the ongoing woes in its ecosystem. Data compiled by DeFi Llama shows that its decentralized finance ecosystem is struggling. Its total value locked has plunged by 20% in the last 30 days to $291 million.

Most of these assets are in a handful of protocols, including Liqwid, Minswap, Indigo, and Splash Protocol. Its TVL is much lower than that of other similar layer-1 networks, such as Solana, BSC, and Sui.

Cardano’s decentralized exchange ecosystem is also struggling. Its total volume over the last 24 hours was just $1.53 million, a tiny figure compared to Ethereum and Solana, which handled over $4.17 billion and $4.10 billion, respectively, in the same period. 

Cardano is also a minor player in the growing stablecoin industry. Its stablecoin market capitalization stands at just $36 million, a tiny amount in a sector with over $300 billion in assets. 

These metrics explain why Cardano has struggled as Charles Hoskinson and his team continue building Hydra and Midnight solutions.

XRP Defies Death Cross, Surges 5% Against Bitcoin: A Bullish Reversal Fueled by Renewed ConfidenceAccording to market analyst Black Crayfish, XRP has delivered a surprising show of strength by surging 5% against Bitcoin (BTC), despite recently flashing a bearish technical warning. 

Source: Black CrayfishOn the XRP/BTC chart, the 50-period moving average slipped below the long-term moving average, a formation known as a death cross, which typically signals weakening price momentum and potential further downside.

Instead of following the expected bearish path, XRP staged a sharp reversal, transforming a negative signal into a powerful confirmation of market resilience. 

Therefore, this upward move underscores renewed confidence in the asset, coming at a time when inflation concerns are cooling across major economies and risk appetite in the crypto market is improving.

Analyst Black Crayfish highlights that XRP’s rapid death cross reversal shows investors aggressively defending key support, signaling strong demand and positioning ahead of potential bullish catalysts.

Why is this development raising eyebrows? Well, XRP continues to defy traditional crypto market patterns, driven by Ripple’s institutional settlement solutions and strong utility fundamentals. This rebound highlights that while technical indicators guide trading, market psychology and macro trends often redefine expectations.

Ripple’s Hidden Road Acquisition Positions RLUSD to Challenge USDC–USDT Stablecoin DominanceAccording to renowned crypto researcher SMQKE, Ripple’s recent acquisition of Hidden Road, now rebranded as Ripple Prime, marks a historic turning point in the global stablecoin and institutional liquidity landscape. 

SMQKE asserts that Ripple’s strategic integration of its new stablecoin RLUSD into advanced trading infrastructure could finally challenge the long-standing dominance of USDC and USDT, a duopoly that has controlled institutional settlement flows for years.

Ripple plans to integrate RLUSD into institutional trading flows to challenge the Tether–Circle duopoly. As a result, emphasizing a strategy that goes beyond retail adoption. This move signals Ripple’s evolution from a cross-border payments innovator to a major liquidity provider embedded in global financial infrastructure.

Notably, Hidden Road has long been a trusted institutional prime broker, linking hedge funds, market makers, and major liquidity venues across traditional and crypto markets. Ripple’s acquisition grants it direct access to Wall Street-grade order flow, the battlefield where stablecoin supremacy is decided.

Therefore, SMQKE envisions a future where institutional flows, tokenized assets, and real-world financial instruments settle instantly and securely on blockchain, bypassing fragmented banking systems. Ripple’s RLUSD could spearhead a more open and competitive stablecoin market.

ConclusionXRP’s defiance of the death cross, posting a 5% gain against Bitcoin, underscores its resilience amid volatility. 

Therefore, this reversal challenges traditional technical signals, reflecting rising investor confidence fueled by easing inflation. As it tests key resistance, XRP may be signaling a renewed bullish phase, attracting both traders and institutional interest.

Meanwhile, Ripple’s acquisition of Hidden Road and the rollout of RLUSD to institutional flows go beyond a simple stablecoin launch, they directly challenge the USDC–USDT duopoly. Powered by Ripple Prime’s infrastructure, RLUSD promises faster, transparent, and fully compliant settlements, positioning it to reshape the global stablecoin market.

The crypto market is showing signs of a potential rebound as key indicators start to turn in its favor. Experts suggest that the momentum may finally be building for the markets as we head into the final weeks of 2025.

In a recent interview with CNBC, Fundstrat’s Tom Lee has shared a bullish outlook on both traditional markets and cryptocurrencies.

The market recently went through a major shake-up. Lee notes that on October 10, crypto experienced its biggest liquidation event in five years, partly triggered by rising U.S.–China trade tensions. Even two weeks later, he notes that the ripple effects are plaguing in the market.

A Year-End Crypto Rally?However, despite the recent volatility, Bitcoin and Ethereum have held up well. Lee highlighted that open interest for both Bitcoin and Ethereum is at record lows, while technical indicators for both coins are now turning positive, which points to improving market conditions.

“I think we’re almost through that because a measure like something called open interest for both Ethereum and Bitcoin are at record lows at a time when the technicals for both Bitcoin and Ethereum are flipping positive. So I think you’re going to see a crypto rally into the end of the year,” he said. 

He also pointed to institutional signals, like JPMorgan being open to using crypto as collateral, as an important bullish factor.

BREAKING: 🇺🇸 Tom Lee says leverage is wiped out from crypto, Bitcoin & ETH open interest is at historic lows and “ we gonna see a crypto rally into the end of the year ”

This guy holds $12.7B in $ETH for a reason pic.twitter.com/gElhszcvd9

— Ash Crypto (@Ashcryptoreal) October 24, 2025 Bitcoin’s Resilience Amid Market StressLee also highlighted that despite the recent historic deleveraging, Bitcoin only fell 3–4%. He believes that this demonstrates Bitcoin’s growing role as a reliable store of value. He also compared it to gold, noting that a similar leverage event in the gold market, causing such a small decline, would normally be seen as a strong validation of the asset.

He also noted Ethereum is showing strong growth, particularly in activity on both its Layer 1 and Layer 2 networks, fueled by stablecoins. While this growth is not fully reflected in Ethereum’s price yet, he notes that the fundamental activity on Ethereum is picking up. 

Beyond crypto, Lee believes that the S&P 500, already up more than 15% year-to-date, could gain another 4–10% by year-end, supported by Fed rate cuts and investor skepticism.

Bitcoin Shows Technical StrengthAnalysts remain bullish on Bitcoin as technical indicators show signs of strength. Rekt Capital pointed out that BTC is close to breaking out of a daily ascending triangle. Meanwhile, weekend price action suggests that Bitcoin is showing relative strength, currently outperforming its 16-week average trend.

With key indicators improving and institutional interest growing, crypto markets could see renewed momentum, setting the stage for a year-end rally.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Crypto firm Ripple has revealed that it is exploring new ways to use XRP within its multi-asset brokerage. This comes as the company’s CEO, Brad Garlinghouse, reassured the community that XRP is central to everything the company does.

Ripple Looking At Ways To Utilize XRP On Prime Broker
In an X post, the company’s president, Monica Long, stated that Ripple Prime is exploring several ways to use XRP, with RLUSD already serving as collateral for several brokerage products. This came as she noted that the opportunities at the brokerage firm are expansive and that the future ahead is “mighty bright.”

As CoinGape reported, Ripple has completed the $1.25 billion acquisition of the prime broker Hidden Road and rebranded the firm to ‘Ripple Prime.’ Furthermore, the company stated, as part of the announcement, that its foundational digital asset infrastructure, including the use of XRP, will complement the services offered by its prime broker.

The opportunities now available to Ripple Prime (fka Hidden Road) are expansive. With $RLUSD already being used as collateral for a number of prime brokerage products, and Ripple Prime looking at a variety of ways to utilize XRP, the future ahead is mighty bright. https://t.co/YFSUQlyeOO

— Monica Long (@MonicaLongSF) October 24, 2025

Meanwhile, as the firm explores new use cases for XRP, CEO Brad Garlinghouse has reassured the community that the token remains central to their operations. He said in an X post that XRP sits at the center of everything they do, even as they continue to build solutions for creating an “Internet of Value.”

With today’s close of Hidden Road (now Ripple Prime), Ripple has announced 5 major acquisitions in ~2 years (GTreasury last week, Rail in August, Standard Custody in 2024, Metaco in 2023). As we continue to build solutions towards enabling an Internet of Value – I’m reminding you… https://t.co/O5Uub7ulw9

— Brad Garlinghouse (@bgarlinghouse) October 24, 2025

The XRP price has risen following these statements from Ripple executives. CoinMarketCap data shows that the altcoin is up over 4% today, trading at around $2.60. XRP has also recorded these gains as treasury firm Evernorth, which Ripple backs, has increased its holdings to $1 billion.

Source: CoinMarketCap; XRP Daily Chart
Crypto Pundit Calls Out Conflicting Claims
Crypto pundit Fishy Catfish called out the conflicting claims between Ripple’s official announcement and executives’ statements. The pundit noted that the Hidden Road announcement centered around RLUSD while claiming that Garlinghouse was using a “faux-hype snake oil salesman tactics” to bring XRP into the picture.

Fishy Catfish also stated that Long’s statement was simply her admitting that XRP “is a murky question mark” in any of their plans for their prime broker. This came as pro-XRP lawyer Bill Morgan urged the XRP community to ignore the FUD sparked by questions about what evidence there is that Ripple Prime will use or give XRP utility beyond the statements from the Ripple executives.

XRP community ‼️.

You should be aware that some of the FUDsters are employing a rhetorical tactic called the loaded question or complex question fallacy. This occurs when a question is posed in which the answer is designed to support a proposition with embedded in the question…

— bill morgan (@Belisarius2020) October 25, 2025

The legal expert further assured that the utility that these acquisitions will bring to XRP will emerge in time, although not today. Notably, the crypto firm recently acquired GTreasury for $1 billion, a move that Morgan also believes will boost XRP’s use case.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Crypto analyst Hov has stated that the macro target for the Dogecoin price remains unchanged despite the recent crypto market crash. This comes as DOGE looks to reclaim the psychological $0.2 level, which could spark a significant rebound for the meme coin. 

Macro Target For The Dogecoin Price Remains Above $2
In an X post, the crypto analyst stated that he still has the same macro target for the Dogecoin price. His accompanying chart showed DOGE could rally to $3 by next year, which would mark a new all-time high (ATH) for the altcoin. However, there is the possibility that the meme coin could keep trading sideways till the end of the year. 

Meanwhile, Hov noted that the Dogecoin price action had played out as expected, with DOGE correcting off the low and crashing by over 50%. He added that the move did not quite make it into the lower support level, but that so far, the move off the low looks pretty corrective. The meme coin had crashed from a high of around $0.30 last month, recently touching $0.11 amid the crash that followed Trump’s announcement of 100% tariffs on China. 

Source: Chart from Hov on X
Hov also stated that the focus will be on how the Dogecoin price action develops over the next week to see whether the C-wave corrective move is in. DOGE is currently looking to rebound and reclaim the psychological $0.2 level. This has been sparked by optimism regarding a potential trade deal between the U.S. and China. 

The White House has confirmed that U.S. President Donald Trump will meet China’s President Xi Jinping on October 30 at the APEC Summit. Meanwhile, the September CPI, which dropped yesterday, came in lower than expectations, which also contributed to a bounce in the Dogecoin price. 

DOGE’s 3rd Bull Wave On The Horizon
Crypto analyst Ether revealed in an X post that the 3rd bull wave is on the horizon for the Dogecoin price. He noted that DOGE experienced two major bull waves in 2017 and 2021 and that another bull wave is now loading. The analyst broke down the current price action, which points to another bull wave. 

Ether revealed that the long downtrend has been broken, with the retest now complete. He further remarked that the 25MA on the higher time frame is back at support. Meanwhile, the Dogecoin price is said to be gathering strength in the lower band of a years-long ascending channel. The analyst added that all technical indicators are “whispering” the start of a new cycle. As such, he believes the 3rd bull wave is a matter of when, not if.

At the time of writing, the Dogecoin price is trading at around $0.19, up in the last 24 hours, according to data from CoinMarketCap.

DOGE trading at $0.19 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com

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Tesla leads this week's list of stocks to watch near buy points. AI chip giant Broadcom (AVGO) also makes the list, as does oil and gas services company TechnipFMC (FTI). Retailer TJX (TJX) and cloud-based data analytics firm Snowflake (SNOW) round out the list of names. Earnings season is in full swing, adding risks for investors. However, Tesla and TechnipFMC…

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HomeIndustriesFood/Beverages/TobaccoMarket ExtraMarket ExtraRetail investors have taken a shine to shares of the struggling meat-substitute purveyor. Their enthusiasm could prove fleeting.Published: Oct. 25, 2025 at 9:20 a.m. ET

Beyond Meat Inc., the maker of pea-based meat substitutes, has become the latest company to join the growing pantheon of meme stocks.

Trading volume in the company’s shares BYND soared this week to unprecedented levels as the stock went on a wild ride — rising as much as 1,400% from its Oct. 16 closing low at one point — buoyed by a surge in social-media buzz and retail-investor interest that has drawn comparisons to the original 2021 meme-stock frenzy.

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NEW YORK, Oct. 25, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of V.F. Corporation (NYSE: VFC) between October 30, 2023 and May 20, 2025, both dates inclusive (the “Class Period”), of the important November 12, 2025 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the V.F. Corporation class action, go to https://rosenlegal.com/submit-form/?case_id=44811 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 12, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants disseminated materially false and misleading statements and/or concealed material adverse facts concerning the true state of V.F. Corporation’s turnaround plans. Specifically, defendants provided investors with material information concerning V.F. Corporation’s turnaround plan (“Reinvent”), which in part focused on efforts to return the Vans brand to positive growth. The lawsuit alleges that defendants concealed that additional significant reset actions would be necessary to return the Vans brand to growth, and would result in significant setbacks to Vans’ revenue growth trajectory. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the V.F. Corporation class action, go to https://rosenlegal.com/submit-form/?case_id=44811 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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Data published in the American Journal of Gastroenterology showed rapid and sustained relief of nighttime gastroesophageal reflux disease (GERD) symptoms in patients treated with VOQUEZNA, including clinically meaningful increases in heartburn-free nights observed after the first dose and maintained through 24 weeks of treatmentAnalysis of exploratory endpoints showed durable improvements in measures of nocturnal symptom severity and sleep-related impacts throughout the full treatment period
FLORHAM PARK, N.J., Oct. 25, 2025 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases, today announced that results of additional analyses from its pivotal Phase 3 pHalcon-NERD-301 trial evaluating VOQUEZNA® (vonoprazan) tablets in patients with Non-Erosive Reflux Disease (NERD) have been published in the American Journal of Gastroenterology. The article, titled “Vonoprazan Improves Nocturnal Gastroesophageal Reflux Symptoms in Non-Erosive Reflux Disease”, underscores the significant burden of nighttime GERD symptoms and the potential role of VOQUEZNA in addressing this aspect of the disease.

Nighttime GERD symptoms are highly prevalent, affecting up to an estimated 80% of patients with GERD, and can be associated with impaired sleep, reduced work productivity, and increased risk of esophageal and respiratory complications. Despite lifestyle interventions and the widespread use of proton pump inhibitors (PPIs) and H2-receptor antagonists (H2RAs), many patients experience inadequate relief of nocturnal symptoms, which remain underrepresented in clinical research.

“Nocturnal symptoms can be among the most disruptive and difficult-to-manage aspects of GERD,” said Philip Katz, MD, MACG, Professor of Medicine, Weill Cornell Medicine and study author who serves as a consultant for Phathom Pharmaceuticals. “This large, randomized trial provides important support for VOQUEZNA’s potential role in improving sleep and daily functioning for patients with Non-Erosive Reflux Disease.”

In the Phase 3 pHalcon-NERD-301 trial, 772 patients were randomized to VOQUEZNA 10 mg, 20 mg, or placebo for an initial 4-week period. Patients on VOQUEZNA continued blinded active treatment for a 20-week extension, while those on placebo were re-randomized to VOQUEZNA 10 mg or 20 mg for the extension phase.  

Key findings include:

Percentage of Heartburn-Free Nights: At week 4, patients receiving VOQUEZNA 10 mg and 20 mg achieved mean percentages of heartburn-free nights of 59.9% and 56.4%, respectively, compared to 43.3% for placebo (nominal p<0.0001, exploratory analysis not adjusted for multiple comparisons). Median percentages of heartburn-free nights during the 4-week placebo-controlled treatment period were 70.4% for VOQUEZNA 10 mg, 71.0% for VOQUEZNA 20 mg, and 45.5% for placebo.Onset of Effect: Separation from placebo was observed after the first dose, with 45.3% of VOQUEZNA 10 mg and 52.4% of VOQUEZNA 20 mg patients experiencing a heartburn-free night after the first dose vs. 32.1% on placebo.Patient-Reported Outcomes: As measured by the validated Nocturnal Gastroesophageal Reflux Disease Symptom Severity and Impact Questionnaire (N-GSSIQ), treatment with VOQUEZNA was associated with improvements from baseline versus placebo in total N-GSSIQ score, and in the subscales of nocturnal symptom severity and concern about nocturnal GERD, but not on morning impact. Improvements with VOQUEZNA were sustained through the 20-week extension treatment period.Durability: VOQUEZNA demonstrated sustained nocturnal symptom relief throughout the full treatment period, consistent with the 24-hour heartburn relief observed in the full pHalcon-NERD-301 trial. Median heartburn-free nights remained above 70% across all treatment groups through the 20-week active extension.Generally Well Tolerated: VOQUEZNA was generally well tolerated in both phases of the trial. The most common adverse events (≤3%) in the 4-week period were nausea, abdominal pain, constipation, diarrhea, and urinary tract infection; in the 20-week extension, most common adverse events (≤5%) included upper respiratory tract infection, sinusitis, influenza, urinary tract infection, nasopharyngitis, nausea, and gastroenteritis.
“The publication of these data in The American Journal of Gastroenterology adds to the growing body of clinical evidence evaluating VOQUEZNA as a novel potassium-competitive acid blocker with the potential to address the unmet needs for patients with GERD, including those with bothersome nighttime symptoms who often have been inadequately managed by existing therapies,” said Eckhard Leifke, MD, Chief Medical Officer at Phathom. “The results provide additional insights into a challenging and under-recognized aspect of GERD and further contribute to the clinical understanding of this first-in-class medicine.”

About Non-Erosive Reflux Disease
Non-Erosive GERD is the largest subcategory of gastroesophageal reflux disease (GERD) and is characterized by reflux-related symptoms in the absence of esophageal mucosal erosions. There are an estimated 38 million U.S. adults living with Non-Erosive GERD, of these approximately 15 million are treated with a prescription medicine annually. Symptoms can impact overall quality of life and may include episodic heartburn, especially at night, regurgitation, problems swallowing, and chest pain.

About VOQUEZNA®
VOQUEZNA® (vonoprazan) tablets contain vonoprazan, an oral small molecule potassium-competitive acid blocker (PCAB). PCABs are a novel class of medicines that block acid secretion in the stomach. VOQUEZNA is approved in the U.S. for the treatment of adults with Erosive Esophagitis, also known as Erosive GERD, the relief of heartburn associated with Erosive GERD, the relief of heartburn associated with Non-Erosive GERD, and for the treatment of H. pylori infection in combination with either amoxicillin or amoxicillin and clarithromycin. Phathom in-licensed the U.S. rights to vonoprazan from Takeda, which markets the product in Japan and numerous other countries in Asia and Latin America.  

INDICATIONS AND USAGE
VOQUEZNA® (vonoprazan) is a potassium-competitive acid blocker (PCAB) indicated in adults:

for the healing of all grades of Erosive Esophagitis (Erosive Gastroesophageal Reflux Disease or Erosive GERD) and relief of heartburn associated with Erosive GERD.to maintain healing of all grades of Erosive GERD and relief of heartburn associated with Erosive GERD.for the relief of heartburn associated with Non-Erosive GERD.
IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS

VOQUEZNA is contraindicated in patients with a known hypersensitivity to vonoprazan or any component of VOQUEZNA, or in patients receiving rilpivirine-containing products.

WARNINGS AND PRECAUTIONS

Presence of Gastric Malignancy: In adults, symptomatic response to therapy with VOQUEZNA does not preclude the presence of gastric malignancy. Consider additional follow-up and diagnostic testing in patients who have a suboptimal response or an early symptomatic relapse after completing treatment with VOQUEZNA. In older patients, also consider endoscopy.

Acute Tubulointerstitial Nephritis: Acute tubulointerstitial nephritis (TIN) has been reported with VOQUEZNA. If suspected, discontinue VOQUEZNA and evaluate patients with suspected acute TIN.

Clostridioides difficile-Associated Diarrhea: Published observational studies suggest that proton pump inhibitors (PPIs) may be associated with an increased risk of Clostridioides difficile-associated diarrhea (CDAD), especially in hospitalized patients. VOQUEZNA may also increase the risk of CDAD. Consider CDAD in patients with diarrhea that does not improve. Use the shortest duration of VOQUEZNA appropriate to the condition being treated.

Bone Fracture: Several published observational studies suggest that PPI therapy may be associated with an increased risk for osteoporosis-related fractures of the hip, wrist, or spine, especially in patients receiving high dose (multiple daily doses) and long-term therapy (a year or longer). Bone fracture, including osteoporosis-related fracture, has also been reported with vonoprazan. Use the shortest duration of VOQUEZNA appropriate to the condition being treated. Patients at risk for osteoporosis-related fractures should be managed according to the established treatment guidelines.

Severe Cutaneous Adverse Reactions (SCAR): Severe cutaneous adverse reactions, including Stevens-Johnson syndrome (SJS) and toxic epidermal necrolysis (TEN) have been reported with VOQUEZNA. Discontinue VOQUEZNA at the first signs or symptoms of SCAR or other signs of hypersensitivity and consider further evaluation.

Vitamin B12 (Cobalamin) Deficiency: Long-term use of acid-suppressing drugs can lead to malabsorption of Vitamin B12 caused by hypo- or achlorhydria. Vitamin B12 deficiency has been reported postmarketing with vonoprazan. If clinical symptoms consistent with vitamin B12 deficiency are observed in patients treated with VOQUEZNA, consider further workup.

Hypomagnesemia and Mineral Metabolism: Hypomagnesemia has been reported postmarketing with vonoprazan. Hypomagnesemia may lead to hypocalcemia and/or hypokalemia and may exacerbate underlying hypocalcemia in at-risk patients.

Consider monitoring magnesium levels prior to initiation of VOQUEZNA and periodically in patients expected to be on prolonged treatment, in patients taking drugs that may have increased toxicity in the presence of hypomagnesemia or drugs that may cause hypomagnesemia. Treatment of hypomagnesemia may require magnesium replacement and discontinuation of VOQUEZNA.

Consider monitoring magnesium and calcium levels prior to initiation of VOQUEZNA and periodically while on treatment in patients with a preexisting risk of hypocalcemia. Supplement with magnesium and/or calcium, as necessary. If hypocalcemia is refractory to treatment, consider discontinuing VOQUEZNA.

Interactions with Diagnostic Investigations for Neuroendocrine Tumors: Serum chromogranin A (CgA) levels increase secondary to drug-induced decreases in gastric acidity. The increased CgA level may cause false positive results in diagnostic investigations for neuroendocrine tumors. Temporarily discontinue VOQUEZNA treatment at least 4 weeks before assessing CgA levels and consider repeating the test if initial CgA levels are high.

Fundic Gland Polyps: Use of VOQUEZNA is associated with a risk of fundic gland polyps that increases with long-term use, especially beyond one year. Fundic gland polyps have been reported with vonoprazan in clinical trials and during postmarketing use with PPIs. Most patients who developed fundic gland polyps were asymptomatic and fundic gland polyps were identified incidentally on endoscopy. Use the shortest duration of VOQUEZNA appropriate to the condition being treated.

ADVERSE REACTIONS:

Healing of Erosive GERD: The most common adverse reactions (≥2% of patients in the VOQUEZNA arm) include gastritis (3%), diarrhea (2%), abdominal distention (2%), abdominal pain (2%), and nausea (2%).

Maintenance of Healed Erosive GERD: The most common adverse reactions (≥3% of patients in the VOQUEZNA arm) include gastritis (6%), abdominal pain (4%), dyspepsia (4%), hypertension (3%), and urinary tract infection (3%).

Relief of Heartburn Associated with Non-Erosive GERD: The most common adverse reactions (≥2% of patients in the VOQUEZNA arm) include abdominal pain (2%), constipation (2%), diarrhea (2%), nausea (2%), and urinary tract infection (2%).

DRUG INTERACTIONS
VOQUEZNA has the potential for clinically important drug interactions, including interactions with drugs dependent on gastric pH for absorption, drugs that are substrates for certain CYP enzymes, and some diagnostic tests. Avoid concomitant use of VOQUEZNA with atazanavir or nelfinavir. See full Prescribing Information for more details about important drug interactions. Consult the labeling of concomitantly used drugs to obtain further information about interactions with vonoprazan.

USE IN SPECIFIC POPULATIONS

Lactation: Breastfeeding is not recommended during treatment. Because of the potential risk of adverse liver effects shown in animal studies with vonoprazan, advise patients not to breastfeed during treatment with VOQUEZNA.

Renal Impairment: For the healing of Erosive GERD, dosage reduction is recommended in patients with severe renal impairment (eGFR < 30 mL/min).

Hepatic Impairment: For the healing of Erosive GERD, dosage reduction is recommended in patients with moderate to severe hepatic impairment (Child-Pugh Class B and C).

You are encouraged to report suspected adverse reactions by contacting Phathom Pharmaceuticals at 1-888-775-PHAT (7428) or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.

Please click here to see full Prescribing Information for VOQUEZNA.

About Phathom Pharmaceuticals, Inc. 
Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases. Phathom has in-licensed the exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB), for the U.S., Europe and Canada. Phathom currently markets vonoprazan in the United States as VOQUEZNA® (vonoprazan) tablets for the relief of heartburn associated with Non-Erosive GERD in adults, the healing and maintenance of healing of Erosive GERD in adults and relief of associated heartburn, and as part of VOQUEZNA® TRIPLE PAK® (vonoprazan tablets, amoxicillin capsules, clarithromycin tablets) and VOQUEZNA® DUAL PAK® (vonoprazan tablets, amoxicillin capsules) for the treatment of H. pylori infection in adults. For more information about Phathom, visit the company’s website at www.phathompharma.com follow on LinkedIn and X.

Forward-Looking Statements
This press release contains forward-looking statements, including without limitation statements regarding: the potential clinical profile of VOQUEZNA; our estimates as to the size of certain patient populations and unmet need in GERD; our business strategy, goals, mission and vision; and our other expectations, forecasts and predictions as to future performance, results and likelihood of success. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including the risk that: the unmet need for new treatment options in GERD may not be as high as we anticipate; our estimates of the number of patients with GERD or subsets of such patients may not be accurate; the efficacy profile for VOQUEZNA in clinical practice may be different than the results discussed in this press release; we may encounter unexpected adverse side effects for VOQUEZNA in commercial use or future clinical development; we may encounter setbacks in market acceptance for VOQUEZNA or commercialization that significantly impair our business strategy or efforts to achieve our goals, mission or vision; and any of the foregoing or other factors may negatively impact our ability to achieve our plans, goals, mission, vision and potential. For additional discussion of these and other risks, see the risk disclosure in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this presentation to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

MEDIA CONTACT
Nick Benedetto
1-877-742-8466
[email protected]

INVESTOR CONTACT
Eric Sciorilli
1-877-742-8466
[email protected]

© 2025 Phathom Pharmaceuticals. All rights reserved.
VOQUEZNA, Phathom Pharmaceuticals, and their respective logos are registered trademarks of Phathom Pharmaceuticals, Inc.

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