Market Signal Briefing

Some pundits think the company is the right kind of manufacturer at the right time.

The target of not just one but two bullish analyst notes in a matter of days, Impinj (PI -3.33%)'s stock was a success story this week. According to data compiled by S&P Global Market Intelligence, its shares had risen in value by 11% week to date as of late Thursday evening.

Impressed by the IoT star
The first of the two analyses evaluating Impinj -- which makes radio frequency identification (RFID) components, and was one of the companies responsible for the growth of the Internet of Things (IoT) industry -- was published on Monday. This was an update from Cantor Fitzgerald's Troy Jensen detailing a significant price target raise.

Image source: Getty Images.

Jensen lifted his fair value assessment on Impinj stock to $217 per share, well above his previous level of $158. It probably goes without saying that he's positive on the stock, as he maintained his overweight (read: buy) recommendation.

Bullish analyst note No. 2 came the following day from Barclays' Guy Hardwick, who initiated coverage of Impinj's shares. Like Jensen he believes the stock is a buy, and he set a price target of $200.

The takes from two bulls
According to reports, both analysts believe Impinj is very well positioned to benefit from the robust takeup of Internet of Things functionalities -- for which its technology is crucial. Jensen felt compelled to raise his full-year 2025 and 2026 estimates for both revenue and profitability. Hardwick believes Impinj's role in the broader IoT sphere will only become more prominent and essential.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Barclays Plc and Impinj. The Motley Fool has a disclosure policy.

Nvidia has generated life-changing returns for investors in the past 10 years, and it has continued rising higher this year.

In 10 years, share prices of chipmaker Nvidia (NVDA 1.68%) have jumped by more than 28,350%. It's a staggering return, and one that's hard to conceptualize. Investing $10,000 into this stock a decade ago would have made you a multimillionaire. That size of an investment would now be worth around $2.85 million.

Today, it's far and away the most valuable company in the world, with a market cap of $4.5 trillion. The next largest stocks, Microsoft and Apple, are each worth around $3.8 trillion. Given Nvidia's dominance in the tech sector and the importance that its chips play in artificial intelligence (AI) and its future growth, could this stock that has already grown in value so much still be a potential 10-bagger investment if you add it to your portfolio today?

Why Nvidia might still grow its value tenfold
For Nvidia to generate 10x returns from its current value, you would need to believe that it can eventually reach a market cap of more than $45 trillion. That's a huge valuation, but in 20-plus years, it may be plausible for top tech companies to be worth that much. If Nvidia were to grow by a little over 12% per year on average, after 20 years, it will have risen to roughly 10 times what it is worth today.

When taking the long-term view, it may not seem all that outlandish to expect that the leading AI chipmaker could become worth so much, given how much potential there is for AI to revolutionize virtually every industry. Analysts at Grand View Research believe that there's considerable growth ahead for the global AI chip market and that it will expand at a compound annual rate of about 28.9% between now and the end of the decade. Even if that growth slows in the years afterward, there may still be considerable potential for Nvidia and other AI companies to tap into down the road.

What could get in Nvidia's way?
While there is potential for Nvidia to be a 10-bagger investment, that doesn't mean that it will be a smooth path ahead. There are risks to consider. The glaring one is that stocks may be in a bubble right now, and a crash could be coming in the near future.

Nvidia is a highly successful business, and it generates impressive margins, but it's also trading at more than 50 times its trailing earnings. At such a premium, the stock has a lot of growth already priced into its valuation, which could result in limited returns in the future.

Another risk to consider is the potential for a pullback in AI spending, particularly if there is a recession in the near future. Meanwhile, a recent Massachusetts Institute of Technology study found that 95% of businesses aren't seeing a payoff from their generative AI projects. While AI chatbots are helpful assistants and can improve efficiency for users, that may not be nearly enough to warrant companies' significant investments into making their own AI models or buying AI-powered products and services.

Nvidia's growth has been slowing, and if there's a more drastic decline ahead, that could significantly affect how much growth investors are willing to pay for the stock in the future.

Is it too late to invest in Nvidia?
Nvidia is a top AI stock, but I'm not convinced that it will still yield tenfold returns from where it is today. A lot would have to go right for the company, given how highly valued it is today. Although it is a leading chipmaker today, in 20 years, that may not be the case. Technologies may change drastically -- and so, too, could demand for AI chips.

That being said, it can still prove to be a good long-term investment even if it doesn't generate 10-bagger returns. With strong fundamentals, Nvidia can be a good tech stock to buy and hold for years to come. But with its high valuation, it's important not to set your expectations too high.

David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

SummaryAxsome Therapeutics is transitioning into a leading neuroscience company with three marketed drugs and a robust late-stage pipeline.Q2 2025 saw 72% YoY revenue growth, driven by Auvelity and Sunosi, with improving margins and narrowing net losses.AXSM faces risks from competition, regulatory hurdles, and high valuation, but maintains strong cash reserves and disciplined expense control.Assigning a BUY rating, I see AXSM as offering compelling medium- to long-term upside, supported by commercial momentum and pipeline catalysts. Natali_Mis/iStock via Getty Images

Axsome Therapeutics (NASDAQ:AXSM) has been on an evolution moving from being a development-stage company into a neuroscience company. Three of its drugs are now being marketed and has a rich late-stage pipeline. Q3 2025 earnings

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Palo Alto Networks is supercharging its portfolio of cybersecurity products with artificial intelligence.

Two years ago, the world's largest cybersecurity company, Palo Alto Networks (PANW -1.24%), warned that 93% of organizations were unprepared to deal with the growing volume of modern digital threats, because their security operations still relied on human-led processes. As a result, 23% of cybersecurity alerts were slipping through the cracks, creating unacceptable vulnerabilities.

Since then, Palo Alto has launched a series of new cybersecurity products powered by artificial intelligence (AI) that help organizations automate everything from threat detection to incident response. Management believes these products will contribute to a substantial long-term growth phase for the company.

Palo Alto is trading near a record high, but investors can still scoop up a single share for under $220 (at the time of this writing). Here's why it might be a great long-term buy.

Image source: Getty Images.

AI is transforming cybersecurity
Palo Alto operates three cybersecurity platforms: cloud security, network security, and security operations. These combine to protect its customers' enterprises from top to bottom. Through these platforms, it offers dozens of individual products that increasingly use AI to deliver the most advanced protection.

The Cortex XSIAM solution, for example, uses AI to automate the security operations center, which reduces an organization's reliance on inefficient human-led processes. By autonomously neutralizing threats, XSIAM reduces the number of incidents requiring a human investigation by 75%, which in turn lowers the probability of a successful breach.

But the company is also protecting the growing number of businesses that are using AI in their day-to-day operations. Many of them are plugging their sensitive internal data into AI models from third-party developers like OpenAI, which creates a new attack surface for hackers to exploit. Palo Alto's new AI Access Security platform gives managers full visibility over how, where, and why AI software is being deployed across the enterprise, so they can quickly identify vulnerabilities.

AI Access Security has also assessed the safety of over 4,000 AI software applications available in the market today, and it allows cybersecurity managers to turn off specific applications with the click of a button if they are deemed too risky.

Palo Alto's revenue growth recently accelerated
Palo Alto generated $2.5 billion in revenue during its fiscal 2025 fourth quarter, which ended July 30. That was a 16% increase from the prior-year period, and it was the second consecutive quarter in which its growth rate accelerated -- a reflection of the company's momentum.

That strong result was driven by Palo Alto's next-generation security segment, which is home to many of the company's innovative new AI products. Its annual recurring revenue (ARR) soared by 32% during its fiscal Q4 to a record high of $5.6 billion.

For the last couple of years, Palo Alto has been incentivizing a growing number of its customers to abandon other cybersecurity vendors and consolidate onto its three platforms instead. Among the customers that have done so, its churn rate is almost zero: Once clients fully commit to Palo Alto for their cybersecurity needs, they tend to stick around. Plus, these "fully platformed" customers had a net revenue retention rate of 120% during the fiscal fourth quarter, meaning they were spending 20% more money with Palo Alto than they had in the prior-year period.

For those reasons, Palo Alto believes "platformization" will help drive its next-generation security ARR to $15 billion by fiscal 2030. That would be a staggering 167% increase from its current level.

Palo Alto's valuation is attractive relative to its key rival
Palo Alto stock is trading at a price-to-sales (P/S) ratio of 16.3 as I write this, which is a 42% discount to the valuation of its chief rival in the AI cybersecurity space, CrowdStrike:

PANW PS Ratio data by YCharts.

CrowdStrike is growing slightly faster than Palo Alto -- its revenue grew by 21% during its most recent quarter. From that perspective, CrowdStrike's valuation might deserve a slight premium relative to Palo Alto. However, I would argue the valuation gap is far too wide considering Palo Alto's next-generation security ARR alone is greater than CrowdStrike's total ARR -- not to mention, it grew by a whopping 32% in the fiscal fourth quarter.

Palo Alto is also thinking several steps ahead of its competitors. In August, it launched a new product called PAN-OS 12.1 Orion that will help enterprises prepare for the quantum computing revolution. Eventually, these powerful new computing systems will make existing encryption methods obsolete, leaving businesses exposed to cyber threats. Palo Alto has an opportunity to build a massive head start over other cybersecurity vendors in this emerging market.

As a result, Palo Alto stock could be a great buy right now for long-term investors.

Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends CrowdStrike. The Motley Fool recommends Palo Alto Networks. The Motley Fool has a disclosure policy.

This company's short life on the stock market has been a constant challenge.

In today's uncertain economic environment, investing in robust dividend stocks can be a great hedge. Companies that can consistently issue growing payouts tend to have strong underlying businesses capable of surviving economic conditions that keep changing. It's even better to scoop up shares of companies that fit that profile while they trade at a significant discount.

Take Kenvue (KVUE 4.70%), for example. It's a relatively new company, but it also happens to claim title to being a Dividend King -- companies that have raised their dividend payouts annually for at least 50 consecutive years. The company has encountered some adversity, and as a result, Kenvue's shares have dipped 25% this year.

Can the stock bounce back? Let's dig deeper into what's going on with this healthcare specialist to figure out whether it is one of those reliable dividend payers investors want to own in times like these.

Kenvue's recent financial results
Kenvue became a publicly traded company in August 2023, when it was spun off from its parent company, Johnson & Johnson (JNJ 0.65%). Its former ties to J&J are what give it Dividend King status.

The split brought with it important implications for Kenvue's prospects. Kenvue is no longer in the business of developing novel pharmaceutical products like its former parent entity. Instead, it took over management of most of the well-branded over-the-counter (OTC) health products across several categories, including self-care, skin and beauty, and essential health. This includes brands like Tylenol, Motrin, Zyrtec, Benadryl, Neutragena, Band-Aid, Listerine, Visine, and Aveeno.

While pharmaceutical drugs often benefit from significant pricing power due to years of strong patent exclusivity, Kenvue's OTC items face a highly competitive environment with plenty of competitors, which limits the company's pricing power. Furthermore, many of Kenvue's products don't treat severe or life-threatening illnesses in the same manner as some of Johnson & Johnson's approved pharma therapies.

Even when Kenvue's products like Tylenol treat conditions that can disrupt people's day-to-day lives, there are, once again, plenty of generic alternatives that tend to be cheaper. Its big advantage is that many of Kenvue's brands are well-known and respected household names.

But this appeal alone hasn't helped the company improve its financial results. In the second quarter, Kenvue's net sales declined by 4% year over year to $3.8 billion. The company's adjusted earnings per share came in at $0.29, lower than the $0.32 reported in the prior-year quarter. Importantly, all three of Kenvue's business segments reported declining sales during the period.

What does the future hold?
It's worth pointing out why Johnson & Johnson decided to split with Kenvue in the first place. The pharmaceutical giant's consumer health division (which eventually became Kenvue) was posting slow and inconsistent revenue growth (at best) and was not performing as well as the rest of the business. Kenvue has not managed to reverse that trend since going public.

Data by YCharts.

The company is working through some other issues as well. It had a change in leadership when its CEO, Thibaut Mongon, stepped down in July. Kenvue appointed Kirk Perry, a member of its board of directors, as interim CEO. While Perry does have significant experience in the consumer-packaged goods field, Kenvue is still seeking a permanent CEO. The move was part of Kenvue's "broad strategic review," aimed at boosting growth and improving the company's performance.

These efforts are ongoing and under the purview of Kenvue's Strategic Review Committee. The company is also looking to decrease its expenses. Last year, the healthcare specialist reduced its workforce by 4% in an effort to achieve $350 million in cost savings by 2026, which could help boost the bottom line. That's all well and good, but while Kenvue's efforts might eventually bear fruit, it's hard to bet on that right now given the state of its business.

Finally, the Health and Human Services arm of the Trump administration last month came out and publicly alleged that Tylenol was linked to increased autism in children (an allegation that has been strongly disputed by healthcare advocates and the company itself). How much effect this will have on sales is yet to be seen. Roughly half of the stock's 13% price drop in the past month is likely attributable to the announcement.

Kenvue's prospects look far too uncertain right now. So, even though it is a Dividend King thanks to its legacy as a former division of Johnson & Johnson, Kenvue's underlying operations don't look like the sturdy, reliable kind that dividend investors typically want and which many Dividend Kings possess. The dividend payout ratio is currently at 112% based on earnings (and 97% based on free cash flow). That high a rate can be managed over short timeframes, but is not sustainable for more than a couple of quarters. A ratio closer to 50%-70% is sustainable and indicates a healthy dividend.

Those investors in the market for excellent dividend-paying income stocks might want to instead opt for Kenvue's former parent entity, Johnson & Johnson.

Prosper Junior Bakiny has positions in Johnson & Johnson. The Motley Fool has positions in and recommends Kenvue. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2026 $13 calls on Kenvue. The Motley Fool has a disclosure policy.

DraftKings could be a strong rebound candidate.

DraftKings (DKNG 3.50%) has been on the losing side of the market lately, sliding by nearly 40% from the 52-week peak it reached in early 2025. The drop hasn't been about poor execution or slowing demand, but instead, the rise of sports-related prediction markets.

Online gaming companies like DraftKings are highly regulated at the state level. The business model is quite simple: Such companies take a piece of the action on every bet placed across their digital platforms.

DraftKings generates revenue in three main areas: regulated sports betting, its long-running daily fantasy sports contests, and its growing online casino unit. Sports betting is its biggest business, and same-day parlays have been a big growth driver for the company.

Image source: Getty Images

Facing pressure
However, the business has come under pressure from prediction markets like Kalshi and Polymarket. Prediction markets are online platforms that let you buy or sell contracts on future events, such as who will win the next presidential election or even if a company's executives will say a certain word on their next earnings call. The contracts are structured as yes or no positions.

However, these platforms have recently started offering event contracts that look very similar to the parlays that are a big source of profit for DraftKings' sportsbook. Kalshi, for example, has recently reported some pretty large trading volumes lately that are largely believed to be tied to sports betting.

That said, this isn't just a simple case of increased competition from competitors playing by the same rules as DraftKings. Prediction markets, especially when applied to sports-related betting, currently occupy a legal gray area.

Several state regulators are actively challenging the premise that these so-called event contracts on sports should be treated as federally regulated financial derivatives, asserting instead that they are simply unlicensed, illegal gambling. States have been making a lot of money by taxing online sports betting, and it's difficult to see them giving up a chunk of this revenue stream without a fight.

Morgan Stanley analysts, meanwhile, have noted that prediction market users tend to be sophisticated and institutional players -- a very different clientele from the casual sports bettors who are DraftKings' bread and butter. These prediction market operators can also tap into large states, like California and Texas, where online sports betting is illegal. So, there is a possibility that a lot of their growth could be coming from these states.

Strong growth potential
While prediction markets pose a potential threat to DraftKings' market share, the company continues to grow quickly. In its most recent quarter, its revenue climbed an impressive 37% year over year to $1.5 billion. Even more important is that the company is starting to see strong operating leverage that is driving profitability.

In Q2, its adjusted earnings per share (EPS) surged 73% to $0.30, while its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) soared 134% to $301 million. Sportsbook revenue led the way, jumping 46%, while its sportsbook net margin climbed from 6.4% to 8.7%. Its iGaming revenue, meanwhile, rose 23%. The company is also focusing on free cash flow, and is targeting $750 million this year.

This shows that DraftKings is no longer in the land-grab stage, spending heavily on promotions to lure players to its platform. It has now transitioned to a profitable growth story. Meanwhile, the company continues to innovate with its sportsbook to drive growth, and has said it could launch its own predictions market.

The 40% decline in the stock from its 2025 high-water mark has lowered its valuation to a forward price-to-earnings (P/E) ratio of just 16.5, based on analysts' consensus estimates for 2026. That's a bargain for a growth stock whose underlying fundamentals remain strong. Yes, there are risks to its business due to competition from prediction markets, but favorable court rulings could easily make those risks go away.

Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The healthy demand for running AI workloads in the cloud is helping this company build a massive revenue pipeline.

The good news isn't stopping for CoreWeave (CRWV 2.16%) investors as more and more evidence of the robust demand for the neocloud provider's cloud computing infrastructure emerges. CoreWeave is known for operating artificial intelligence (AI) data centers in Europe and the U.S., and major tech giants have been lining up to rent its data center capacity so that they can run AI workloads in the cloud. The company just struck another multibillion-dollar deal that's set to give its already booming revenue pipeline a massive boost.

It won't be surprising to see CoreWeave becoming a leader in the AI infrastructure market in the long run. Let's see why that's likely to be the case.

CoreWeave's capacity expansion and huge backlog indicate that it can become a much bigger company
CoreWeave's AI data centers are powered by graphics processing units (GPUs) from Nvidia. The company has been buying up Nvidia's latest GPUs, and that's a big reason why companies such as Microsoft, Meta Platforms, OpenAI, and others have been queuing up to lease its data center capacity.

Meta Platforms is one of its biggest customers, and the social media giant has just expanded its partnership with CoreWeave by offering it a $14.2 billion contract. This follows a recent expansion with OpenAI, which gave CoreWeave a $6.5 billion contract. As it stands, OpenAI has now offered total contracts worth $22.4 billion to CoreWeave this year.

Even Nvidia agreed to a $6.3 billion contract with CoreWeave last month, offering to buy the latter's unsold data center capacity through 2032. It is worth noting that CoreWeave was sitting on a $30.1 billion revenue backlog at the end of the second quarter. The three new contracts that the company has announced in the past few weeks indicate that its total revenue backlog is now worth more than $50 billion, a jump of over 3x as compared to its backlog in Q2 2024.

That's a big achievement for a company that's expecting to finish 2025 with an estimated $5.25 billion in revenue. To put things in perspective, CoreWeave is fast catching up to Oracle (ORCL 3.10%) in the cloud AI infrastructure market. Oracle is a much bigger player in this market with its massive data center network across the globe and was sitting on a $455 billion backlog at the end of the previous fiscal quarter.

Now, CoreWeave's backlog may be just a tenth of Oracle's, but the former has been punching hard when it comes to bringing more capacity online. For instance, CoreWeave is on track to spend $20 billion to $23 billion as capital expenditure (capex) in 2025, which would be a huge jump over its 2024 outlay of $8.3 billion. Oracle, meanwhile, is on track to increase its capex by 65% in the current fiscal year to $35 billion.

The faster expansion in CoreWeave's capex to significantly massive levels suggests that it is on its way to capturing a bigger chunk of the lucrative cloud AI infrastructure opportunity, which is set to get bigger in the long run. Importantly, the latest deals that the company has struck should also give it access to more funds so that it can continue adding new capacity at a brisk pace.

Management pointed out in August on its earnings call that it has increased its total contracted data center power capacity to 2.2 gigawatts from 600 megawatts. The contracted capacity refers to the available power agreements that will enable CoreWeave to equip more data centers with GPUs and other related equipment to service AI workloads.

So, as the company brings online more capacity, it should be able to convert a bigger share of its backlog into revenue. It should also be able to attract more customers, considering that data center capacity is expected to grow at an annual rate of 22%, according to McKinsey.

In all, it is easy to see why CoreWeave's revenue projections have moved higher in recent months, a trend that's likely to continue considering the new contracts that it recently signed.

Data by YCharts.

As the company reinvests its fast-expanding revenue into building more data centers, it should be able to sustain its outstanding growth for a long time to come.

The valuation makes it a solid investment right now
CoreWeave's revenue is on track to jump by almost 2.8x this year at the midpoint of its guidance range. According to the previous chart, the company's top line could multiply by 3.4x in just two years. That's faster than what market leader Oracle is expecting.

Oracle's cloud infrastructure revenue is expected to jump by 77% in the ongoing fiscal year to $18 billion. It estimates a 77% increase in the next fiscal year to $32 billion, followed by a stronger increase to $73 billion in fiscal 2028. CoreWeave's backlog, its capacity expansion efforts, and the incredible opportunity in the cloud infrastructure market could eventually help it outpace Oracle's growth.

That's why it would be a good idea to buy CoreWeave while it is trading at 19 times sales, which isn't very expensive when compared to Oracle's sales multiple of 14, especially considering that the former has the ability to eventually become one of the leading players in the cloud AI infrastructure space.

Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Microsoft, Nvidia, and Oracle. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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The EU on Friday demanded tech giants Apple, Google, Snapchat and YouTube explain what steps they are taking to protect children online.

The European Commission has sent requests for information under the Digital Services Act to Apple, Google, Snapchat and YouTube, EU tech chief Henna Virkkunen told reporters before a meeting of EU ministers in Denmark.

"Privacy, security and safety have to be ensured, and this is not always the case, and that's why the commission is tightening the enforcement of our rules," Virkkunen said.

"Just today we have sent requests for information on four online platforms. To Snapchat, to YouTube, to Apple Store and Google Play, also to look at what kind of practices they are taking to protect minors online," she added.

She would not provide more information but said the commission would share details in a press release later on Friday.

Also before the meeting, Danish Digital Minister Caroline Stage Olsen claimed people were using Snapchat to sell drugs.

The EU's demands are not the first under the DSA.

Brussels is also probing Meta's Facebook and Instagram, as well as TikTok, over fears they are not doing enough to combat the addictive nature of their platforms for children.

Inspired by Australia's social media ban for under-16s, Brussels is exploring whether such a measure could work in the 27-country bloc after several states including France and Spain pushed for limits on minors' access to platforms.

Denmark, in charge of the rotating six-month EU presidency, has been pushing the bloc to take more action collectively to protect minors through new rules.

Prime Minister Mette Frederiksen said on Tuesday Denmark planned to introduce a ban on social media for children under the age of 15.

The EU's Digital Services Act, a mammoth law demanding platforms do more to tackle illegal content, contains provisions to ensure the safety of children online.

The ministers will discuss age verification on social media and what steps they can take to make the online world safer for minors.

They are expected to agree on a joint statement after the meeting on Friday in which they back EU chief Ursula von der Leyen's plans to study a potential EU-wide digital majority age, according to a draft document seen by AFP.

Von der Leyen said last month she would establish a panel of experts "to assess what steps make sense" at the EU level on the issue.

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Digitalization reshapes delivery of government services through cloud adoption, cybersecurity, AI integration, ISG Provider Lens® report says

LONDON--(BUSINESS WIRE)--Organizations in the U.K.’s public sector are partnering with leading service and solution providers to accelerate innovation and service delivery as part of wide-ranging modernization strategies, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm.

Facing demands for greater responsiveness, public sector organizations plan to increase their budgets for transformation enabled by third-party services. The U.K. government’s digital road map is leading to deeper engagement with providers.

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The 2025 ISG Provider Lens® Public Sector Services and Solutions report for the U.K. finds that both central and local government bodies are pursuing agile digital development while upgrading legacy systems and strengthening compliance and security. Despite ongoing advancements, digital maturity remains low due to factors such as persistent skills shortages, outdated infrastructure and limited budgets. Public dissatisfaction with services remains high, with productivity still below pre-pandemic levels and most citizens believing services are underfunded.

“Facing demands for greater responsiveness, public sector organizations plan to increase their budgets for transformation enabled by third-party services,” said Matthew Hannon, U.K. Public Sector lead, ISG. “The U.K. government’s digital road map is leading to deeper engagement with IT, consulting and cloud service leaders.”

Government organizations in the U.K. are expanding user-centric online platforms and improving interoperability across departments for better transparency and service delivery, ISG says. Simultaneously, they are integrating AI and advanced analytics to streamline operations, enhance decision-making and improve citizen experience. Agencies seek providers with expertise in deploying GenAI, automation and data integration solutions that can guide them through structured transformations and help them enhance productivity.

Moving from legacy software to cloud services is central to the public sector’s efforts to increase resilience and scalability, the report says. Agencies are partnering with service providers to orchestrate cloud migrations, manage hybrid environments and ensure compliance with strict security and governance standards. These efforts often require replacing outdated software to cut costs, improve interoperability and deploy citizen-facing applications faster.

With cyberattacks growing threefold in the U.K., public sector organizations are prioritizing risk management, ISG says. They are also implementing continuous threat monitoring and improving incident response capabilities. However, limited funds, persistent pay gaps and the difficulty of employing highly talented professionals continue to constrain security efforts. In response, agencies are seeking assistance in adopting secure digital platforms and structuring transformation for measurable outcomes.

“Cybersecurity has become a focal point for public sector enterprises as digital adoption expands attack surfaces and affects essential services,” said Harish B, manager and principal analyst at ISG, and lead author of the report. “Due to the sensitive nature of public data and critical national infrastructure, enterprises rely on providers’ expertise to embed security frameworks and educate them on cyber risks.”

The report also explores other technology trends affecting the public in the U.K., including ongoing struggles with fragmented governance and pressure to demonstrate cost-effectiveness.

For more insights on digital transformation-related challenges faced by public sector organizations in the U.K., plus ISG’s advice for overcoming them, see the ISG Provider Lens® Focal Points briefing here.

The 2025 ISG Provider Lens® Public Sector Services and Solutions report for the U.K. evaluates the capabilities of 36 providers across five quadrants: Strategy and Consulting Services, Managed IT Services, Business Process and Other Outsourcing Services, Services to Local and Devolved Governments, and Digital Transformation and Innovation Services.

The report names Capgemini and IBM as Leaders in five quadrants each. It names NTT DATA and PwC as Leaders in four quadrants each. Accenture, Computacenter, Infosys and Mastek are named as Leaders in three quadrants each. Atos, CGI, Fujitsu and Version 1 are named as Leaders in two quadrants each, while Cognizant, Deloitte, Serco, Sopra Steria and Unisys are named as Leaders in one quadrant each.

In addition, NTT DATA is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant.

In the area of customer experience, Capgemini is named the global ISG CX Star Performer for 2025 among providers of solutions and services for the public sector. Capgemini earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.

The 2025 ISG Provider Lens® Public Sector Services and Solutions report for the U.K. is available to subscribers or for one-time purchase on this webpage.

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Bitcoin (BTC) is holding a tight range around $121,000–$123,000 after tapping a fresh all-time high near $126,000 earlier this week. Under the surface, demand remains robust as U.S. spot Bitcoin ETFs just logged an eighth straight day of net inflows, with one session alone adding $441 million.

Over the past week, cumulative ETF net flows have climbed by billions, pushing total Bitcoin ETF assets toward $160 billion. This steady pipeline of capital, now a fixture of pension funds, RIAs, and asset managers, continues to soak up more BTC than miners create, tightening free float and muting deeper pullbacks.

The setup reinforces Bitcoin’s evolving role as a portfolio diversifier and inflation hedge, especially as the U.S. dollar wobbles and macro uncertainty lingers.

Technical Levels Point Bitcoin (BTC) to $117K Support, $125K–$126K Ceiling
After the spike to new highs, BTC is digesting gains in a sideways band. $125,000–$126,000 remains the near-term ceiling; a decisive daily close above that zone would likely unlock momentum toward $128,000–$130,000 and extend price discovery.

On the downside, $117,000 is developing as the first key support, aligning with a heavy cost-basis cluster and prior breakout structure. A deeper fade could probe $114,000 near the 50-day moving average, where trend buyers may re-engage.

Momentum indicators are neutral-to-constructive (RSI mid-zone, MACD flattening), consistent with healthy consolidation above rising MAs. Traders are watching for:

Spot-led strength over derivatives (cleaner advances).
ETF inflows staying positive (supports dips).
Range break above $126,000 on expanding volume (bullish confirmation).

BTC's price records losses on the daily chart. Source: BTCUSD on Tradingview
Scarcity Meets Institutional Liquidity
Bitcoin’s post-halving issuance of 450 BTC/day collides with institutional demand that’s arriving “on schedule” via ETFs, creating a structural supply deficit. Year to date, institutional accumulation has outpaced new supply many times over, a dynamic that historically precedes trend extensions.

Add in the dollar-debasement narrative, stubborn inflation, rising debt, and policy ambiguity, and credibly scarce assets like BTC and gold remain in favor.

With net inflows recurring and macro tailwinds intact, a range break toward $130,000 looks increasingly plausible in Q4, provided $117,000 holds on dips and $125,000–$126,000 gives way on a high-volume push.

Cover image from ChatGPT, BTCUSD chart from Tradingview

Zcash price has staged a strong comeback this month, leading to a substantial short squeeze. The ZEC token has jumped from a low of $34 in August to $280, a 710% increase surge that has pushed its market capitalization to almost $4 billion.

According to Deutsche Bank reports, Bitcoin could soon rival gold as one of the primary assets held by central banks by 2030. The global financial institution believes the growing institutional adoption of digital assets and a gradual global move away from U.S. dollar dependency may encourage central banks to diversify their reserves with cryptocurrencies like Bitcoin.

According to Bloomberg, which first shared details of the report, Deutsche Bank analysts said:

“Bitcoin may evolve into a key component of central bank reserves, serving a role similar to gold in the 20th century as a store of value and hedge against inflation.”

Bitcoin and Gold Could Work TogetherThe report highlights that Bitcoin’s role in the future may mirror gold’s position in the 20th century, when the precious metal served as the foundation of global finance and a safeguard during periods of economic instability.

Deutsche Bank’s analysts noted that Bitcoin could act as a modern hedge against inflation and currency depreciation, offering a new layer of protection for reserve portfolios. However, they emphasized that Bitcoin is unlikely to replace the U.S. dollar, but rather complement it within a diversified reserve structure.

Currently, central banks worldwide hold over 36,000 tons of gold, reinforcing their preference for assets that preserve value in uncertain times. The report suggests that a similar trend of diversification could extend to digital currencies, signaling a major shift in traditional financial strategies.

Central Banks Eye Digital TransformationDeutsche Bank’s study also highlights how financial institutions are rapidly adapting to the digital era, exploring ways to integrate blockchain-based assets into their operations. With increasing interest in Bitcoin ETFs and tokenized assets, central banks may soon include digital assets as part of their official reserves.

If realized, this move would strengthen Bitcoin’s credibility and global reach, while giving central banks greater influence over the evolution of the crypto market.

However, Deutsche Bank warned that this transformation will require clear regulations, standardized frameworks, and global cooperation to manage potential risks. The report states that regulatory clarity will be a key factor in determining how fast digital assets become part of central bank portfolios.

Analysts further noted that if central banks start accumulating Bitcoin, it could trigger a surge in institutional demand, potentially driving Bitcoin’s price to new highs.

Bitcoin’s Strong Market PerformanceAs of October 10, 2025, Bitcoin (BTC) is trading around $121,800, with a 58.5% dominance in the crypto market and a 9.4% monthly gain. This steady performance reinforces investor confidence despite macroeconomic uncertainty.

While opinions remain divided, some experts see Deutsche Bank’s forecast as a natural evolution in global finance, while others remain cautious about volatility. The prospect of Bitcoin joining central bank reserves represents a potential turning point for digital assets.

If Deutsche Bank’s prediction materializes, Bitcoin could transition from a speculative investment to a recognized pillar of global financial stability, standing beside gold as one of the world’s most trusted stores of value.

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Grayscale Investments is preparing to transform its Solana Trust into a fully regulated exchange-traded fund (ETF), positioning itself to capture institutional demand for Solana exposure. According to its latest SEC filing, the trust soon to be renamed Grayscale Solana Trust ETF aims to list its shares on NYSE Arca under the ticker “GSOL.” 

This move reflects the company’s long-term strategy to convert its digital asset products into ETFs once regulatory conditions allow. Currently, GSOL trades on OTCQX, but listing on a national exchange would enhance liquidity and investor access.

Grayscale Moves to Convert Solana Trust Into ETFThe Delaware-based trust issues shares representing fractional beneficial ownership in its underlying Solana (SOL) holdings. Its goal is to mirror Solana’s market price, minus fees and liabilities. Each basket consists of 10,000 shares, created or redeemed by authorized participants. 

Fund operations currently depend on cash creations and redemptions, though Grayscale may transition to in-kind transactions once NYSE Arca secures approval. This adjustment would align GSOL with the structure already used by approved Bitcoin and Ethereum ETFs.

The trust lists several key service providers. Coinbase Custody acts as the main custodian, Anchorage Digital Bank serves as an additional custodian, and The Bank of New York Mellon functions as the transfer agent and administrator. Davis Polk & Wardwell provides tax counsel, while Foreside Fund Services handles marketing operations.

Staking Activation and Fee StructureSignificantly, Grayscale recently enabled Solana staking within the trust, offering investors exposure to staking rewards through traditional brokerage accounts. The feature introduces new opportunities for yield generation but also adds technical risks. The filing warns that validators could face losses or reduced incentives, potentially affecting network stability.

The ETF will charge a 0.35% sponsor fee, payable in SOL, with no current plan for a waiver. The trust clarified that fee adjustments could occur in future updates depending on market competition and operational costs.

Rising Competition From BitwiseAs reported by Coinpaper, Bitwise Asset Management has advanced its own Solana ETF proposal, emphasizing staking and cost efficiency. Its latest amendment to the SEC includes a reduced management fee of 0.20% among the lowest in the market and a temporary fee waiver until its first $1 billion in assets. Bloomberg analysts James Seyffart and Eric Balchunas noted that such pricing signals aggressive competition for early investor inflows.

Analysts Watch $217 as Key Solana SupportSource: X

At the time of writing, Solana trades near $221, down 2.9% in 24 hours, with a key support level at $217. Market analyst Ali Martinez emphasized that this level will determine Solana’s short-term trajectory, as a rebound could trigger a “W-shaped” recovery toward $226 and $236. A breakdown below $217, however, may lead to deeper corrections near $212.

Ethereum is testing a major support level after U.S. spot Ethereum exchange-traded funds reported their first net outflows in more than a week, ending an eight-day streak of inflows.

Summary

Ethereum price tests $4,300 support after ETF outflows.
Spot ETH ETFs see first withdrawals in nine days.
Traders expect rebound toward $4,600 if support holds.

Ethereum was trading at $4,352 at press time, down 2.3% over the last day and 3.2% for the week. The asset is still about 12% below its peak of $4,946 in Aug. 24. 

Spot trading activity stayed strong, with $40.4 billion in volume over the past 24 hours, a 9% increase from the previous day. Derivatives data from CoinGlass showed a mixed setup.

Ethereum (ETH) futures trading volume rose 21.5% to $93.6 billion, while open interest slipped 0.83% to $59.2 billion, suggesting traders are taking partial profits while keeping positions open.

Spot ETH ETF outflows mark a brief pause in institutional demand
According to SoSoValue data, U.S. spot Ethereum ETFs saw $8.54 million in net outflows on Oct. 9, breaking a run of steady inflows. BlackRock’s ETHA ETF still posted $39.29 million in new inflows, but withdrawals from Fidelity ($30.26 million) and Bitwise ($8.07 million) turned the total negative.

The shift came as investors rotated back toward Bitcoin (BTC), which saw nearly $198 million in inflows on the same day. Despite this pause, Ethereum ETFs have seen strong institutional interest, with net inflows of over $1.3 billion during the first week of October. 

Analysts view the brief outflows as part of a normal rotation after heavy ETF accumulation earlier in the month. They expect momentum to return as key catalysts approach, including BlackRock’s staking ETF decision due by the end of October and upcoming U.S. consumer price index data that could affect risk appetite.

Ethereum price technical analysis
Ethereum’s technical setup points to a consolidating market as opposed to a declining one. The Relative Strength Index is neutral at 49, indicating balanced pressure between buyers and sellers. The MACD and momentum indicators remain positive, showing that the underlying trend is intact despite recent pullbacks.

Ethereum daily chart. Credit: crypto.news
ETH is currently trading slightly below its 10- and 20-day moving averages near $4,450, while its longer-term 50- and 100-day averages continue to rise, forming a support zone between $4,000 and $4,300. This implies that before another upward move, the current pullback might be a part of a larger consolidation phase.

Traders anticipate a recovery toward the $4,600 resistance level if the $4,300 support level holds. A breakout above that range could open the door to $4,950–$5,000, while a breakdown could lead to a retest of $3,900, where the next key support lies.

TLDR: 

Public crypto wallets tied to crime now hold $75B, most from stolen funds and scams.
Bitcoin remains the top choice, making up 75% of illicit balances stored long-term.
Use of mixers and cross-chain bridges increases, replacing direct exchange transfers.
Chainalysis has helped authorities recover over $12.6B in illegal crypto funds so far.

Blockchain analytics firm Chainalysis has identified more than $75 billion in cryptocurrency linked to criminal activity held in publicly viewable wallets. The findings, released on October 9, 2025, show that a large portion of this amount remains untouched and accessible for law enforcement to track.

Of the $75 billion total, nearly $15 billion is held directly in wallets linked to illegal activities such as theft, scams, and darknet markets. 

The remaining $60 billion is spread across downstream wallets that have received funds from these primary illicit sources. These wallets are not always directly associated with criminal actors but are part of a wider laundering network.

Darknet Markets and Stolen Funds Drive Growth
Darknet markets continue to be a large part of this ecosystem. According to the report, market administrators and vendors currently control about $46.2 billion worth of crypto. These markets have existed for years, with many tracing their origins back to the Silk Road era.

The largest share of criminal balances comes from stolen funds. Chainalysis notes that hackers often face challenges moving large amounts without raising suspicion, which results in them holding the funds for extended periods. 

Recent events, including the $1.5 billion Bybit hack tied to North Korea, show how difficult it can be to off-ramp large sums through traditional channels.

Additionally, Bitcoin remains the most commonly held digital asset among illicit wallets. Chainalysis reports that 75% of criminal balances are in Bitcoin. This is largely due to Bitcoin’s long-term price increase, which has inflated the value of funds kept in wallets for years.

The report also notes that over one-third of wallets tied to criminal activity still hold Bitcoin more than a year after their last transaction. This trend suggests that many actors are using Bitcoin more as a store of value. 

Stablecoins, while also used, are less concentrated because they can be frozen by the issuers, making them riskier for long-term storage.

Criminals Shift to Mixers and Cross-Chain Bridges
Chainalysis has observed a major drop in direct transfers from illicit wallets to centralized exchanges. 

The share of such transfers has fallen from over 40% in past years to around 15% in 2025. This suggests a growing use of privacy tools like mixers and cross-chain bridges, which are designed to hide the trail of funds.

This shift complicates law enforcement efforts to seize assets. A Chainalysis spokesperson stated, “These methods make tracking harder, but transparency in blockchain still provides enforcement agencies with a chance to act.” 

Despite these hurdles, Chainalysis data has supported the recovery of over $12.6 billion in illegal funds worldwide.

While criminals are adapting their tactics, the visibility of blockchain transactions gives agencies a tool to monitor and potentially seize assets. The fact that large volumes of crypto remain untouched in traceable wallets creates opportunities for recovery.

Chainalysis continues to work with governments and regulators around the world to provide insights on illicit activity. The company’s findings show the scale of digital assets in circulation that are linked to illegal operations and the need for continued monitoring.

ZORA price soared following its listing on Robinhood while confirming a breakout from a bullish reversal pattern that points to further gains ahead.

Summary

ZORA price surged 75% to an intraday high of $0.091 on Friday.
The token’s listing on Robinhood sparked the rally.
A confirmed falling wedge breakout points to a 39% upside for the token ahead.

According to data from crypto.news, Zora (ZORA) rallied 75% to an intraday high of $0.091 on Oct. 10 morning Asian time, before giving up some of its gains and settling at $0.082 at press time. At this price, the token stands over 900% higher than its year-to-date low.

The token rally came amid a sharp surge in investor demand, reflected by its daily trading volume spiking over 650% to $420 million, surpassing its market cap, which hovered around $370 million at the time of writing.

The main catalyst that drove ZORA price gains today appears to be its fresh listing on the popular trading app Robinhood. The move opens the door for a much wider pool of retail traders to access the token while adding greater visibility for the token, potentially smoothing out volatility and driving price stability over time.

Notably, this is Zora’s most significant exchange listing since July, when it made its debut on Binance Futures. The Robinhood listing also follows a wave of renewed activity across Zora’s social channels and growing momentum on its creator-focused blockchain, fueled in part by speculation that Coinbase may soon launch a token for its Base network. As one of the leading social tokens on Base, driving significant NFT activity and trading volume on the network, Zora is catching additional attention from that buzz.

The renewed demand from retail investors seems to be further amplified by fresh whale buying. According to data from Nansen, the amount of ZORA tokens held by whale wallets jumped sharply from 6.34 million to 8.72 million right after the Robinhood listing news broke out. Such a spike in accumulation signals growing confidence among large holders and could even prompt retail traders to follow suit.

Interestingly, Zora was also the top trending token on Google Trends at the time of writing, hinting that such retail interest has already built significant momentum and could continue to drive price action over the coming days.

However, there’s one potential headwind for ZORA token as nearly 166.67 million ZORA tokens are scheduled to unlock later this month. If selling pressure builds around the unlock, it may temporarily weigh on the token’s price, even if the longer-term outlook remains positive.

ZORA price analysis
On the daily chart, ZORA price has been carving out a falling wedge pattern since early August this year. This type of pattern typically forms when an asset’s price is making lower highs and lower lows within converging trendlines, and a breakout from the upper trendline often signals a bullish reversal.

ZORA price has confirmed a falling wedge breakout — Oct. 10 | Source: crypto.news
That’s exactly what happened as ZORA confirmed a breakout above the wedge’s upper trendline, fueled by the news of its listing on Robinhood.

ZORA price is also trading above its 20-day exponential moving average, another positive technical signal that suggests the short-term trend remains upward.

Another indicator flashing strength is the Aroon indicator, a tool often used by traders to identify trend changes and strength. At the time of writing, Aroon Up stands at 100% while Aroon Down is at just 28.57%, a classic signal that a strong uptrend is currently in play.

That said, it’s worth noting that the Relative Strength Index is approaching overbought territory, which could hint at a potential short-term pullback or consolidation before the next leg higher.

ZORA RSI level is close to overbought territory — Oct. 10 | Source: crypto.news
For now, the next key target for ZORA sits at $0.115. This level is calculated by measuring the height of the wedge formed and projecting it, adding it to the breakout point. The target lies 40% above the current price level.

A drop below $0.063, which aligns with the 20-day EMA, would invalidate the bullish setup and point to further downside risk.

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

Bitcoin Implied Volatility Reaches 2.5-Month High as Seasonal Strength Kicks InImplied volatility hits a 2.5-month high as price momentum and historical patterns point to a strong Q4 Oct 10, 2025, 7:49 a.m.

Bitcoin’s BTC$121,090.68 implied volatility (IV) gauge has climbed to a 2.5-month high, consistent with the seasonal trends.

Volmex's bitcoin implied volatility index, BVIV, which represents the annualized expected price turbulence over four weeks, has topped 42%, the highest since late August, according to data source TradingView.

STORY CONTINUES BELOW

IV measures the market’s expectations for future price swings based on options pricing. Higher IV suggests traders are anticipating larger price movements ahead.

The BVIV rose early this month alongside an upswing in BTC's price and has continued to climb despite the latest pullback from the record high of over $126,000 to around $120,000.

Bullish seasonalityBVIV's historical data shows that the index tends to spike around this time of year. Both 2023 and 2024 saw significant volatility increases in October, highlighting a recurring seasonal pattern.

CoinDesk Research notes that 2025’s volatility setup closely mirrors 2023, when it wasn’t until the second half of October that IV began its next major leg higher, rising from an annualized 40% to over 60%.

It's the same for the spot price. Historically, the second half of October delivers stronger returns than the first.

According to data from Coinglass, bitcoin has averaged roughly 6% gains each week over the next two weeks, which are among the most bullish periods of the year. November is typically the best performing month, historically delivering more than 45% returns on average.

Expectation over the coming weeks is that IV increases from this current range.

Broader inverse relationshipSince late last year, BTC's IV has tended to rise more often than not during price pullbacks in a classic Wall Street like dynamics. The inverse relationship is evident from the persistent downtrend in IV since late last year and the broader uptrend in prices.

As bitcoin matures as an asset, the law of diminishing returns suggests price gains will gradually shrink, and volatility will also decline over time. Zooming out, the BVIV model shows a clear long-term downtrend in implied volatility since the metric was first introduced.

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Total Crypto Trading Volume Hits Yearly High of $9.72T

Sep 9, 2025

Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025

What to know:

Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platformOpen interest across centralized derivatives exchanges rose 4.92% to $187 billionView Full Report

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Privacy Tokens Zcash, Dash, Railgun Rip Higher as Market Rotates Back to 2018 Narratives

1 hour ago

What stands out is how capital is rotating into the once-forgotten privacy sector at the exact moment broader liquidity is still searching for a narrative.

What to know:

Privacy tokens are experiencing a resurgence, with Zcash leading gains with 40% rally.Key developments seem to have galvanized investor interest in privacy coins. The shift towards privacy tokens coincides with broader market conditions, including regulatory discussions and economic uncertainties.Read full story

Spot Solana exchange-traded funds (ETFs) are likely to snag approval from the U.S. Securities and Exchange Commission (SEC) this week, but will pull in far lower inflows than their spot Bitcoin (BTC) or Ether (ETH) counterparts, according to analysts at Wall Street bank JPMorgan.

Spot SOL ETFs To Be Approved Soon
The United States Securities and Exchange Commission is widely expected to make preliminary decisions on approximately 16 spot crypto-related exchange-traded fund applications this month, including those tied to Solana.

The SEC recently approved a new simplified set of standards for crypto ETF approvals — a move that has streamlined the listing process and triggered an increase in new crypto ETF proposals. It is now widely anticipated that the SEC will greenlight multiple spot Solana ETFs on its Oct. 10 final deadline.

“The strong likelihood of approval for Solana spot ETFs is reinforced by the fact that there is an already established futures contract at CME,” JPMorgan analysts led by managing director Nikolaos Panigirtzoglou wrote in a Wednesday report.

The analysts recalled that the first Solana spot ETF was greenlighted and launched in July by REX-Osprey under the Investment Company Act of 1940, unlike other crypto ETFs filed under the Securities Act of 1933.

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SOL ETFs To Attract Only A Fraction Of Ether’s ETF Inflows
While the probability of Solana ETFs securing approval is high, JPMorgan analysts expect the funds to witness limited demand. They estimate around $1.5 billion in net inflows during the first year, which is roughly one-seventh the level witnessed by Ethereum versions in their first year. 

That estimate is based on early flows into the REX Osprey Solana ETF, which has drawn in approximately $350 million since its debut, compared with $2.3 billion in inflows to spot Ether ETFs during their first three months.

“A similar ratio emerges if one looks at the relative size of Solana’s DeFi TVL to that of Ethereum,” the analysts postulated. “Applying this 1/7th ratio to Ethereum’s first year net inflows of $9.6 billion suggests that Solana ETFs could potentially see around $1.5 billion of net inflows during their first year.”

But the analysts cautioned that the figure could even be lower than their projections due to declining on-chain activity, heavy memecoin trading, investor fatigue from multiple potential spot ETF launches, low demand in CME SOL futures, and competition from diversified crypto index products like those tied to the S&P Dow Jones Indices Digital Markets 50. Corporate treasury products offering yield could also steal demand away from the spot funds.

Key points:

Bitcoin’s Mayer Multiple suggests that BTC is closer to “oversold” than “overbought” — even at all-time highs.

The gauge has barely moved in recent months as BTC price struggles to seal a decisive breakout.

Expectations no longer favor a blow-off top this month.

Bitcoin (BTC) is “ice cold” at all-time highs, says a classic BTC price metric that shows room to run to $180,000.

The latest readings from the Mayer Multiple reveal that even at $120,000, BTC/USD is far from overheated.

BTC price gauge still close to “oversold”Bitcoin’s lack of a blow-off top this bull market has placed onchain indicators in focus as market participants search for signs of change.

The Mayer Multiple, however, is among the indicators still firmly pointing to bullish price continuation.

“Bitcoin is at all-time highs and the Mayer Multiple is ice cold,” popular crypto quant analyst Frank A. Fetter, whose X account is named after the famous economist, commented on its readings this week.

The Mayer Multiple measures the ratio of price to its 200-week moving average (MA). Readings above 2.4, reflecting a price 2.4 times higher than the MA trend line, suggest “overbought” conditions.

Currently, the Multiple sits at 1.16, closer to its “oversold” 0.8 level than that which typically signifies a bearish trend change.

“I like the setup,” Fetter added alongside a chart from onchain data resource Checkonchain. The chart indicated that for BTC/USD to reach the 2.4 mark, it would need to rise to $180,000.

Bitcoin Mayer Multiple data. Source: @FrankAFetter/XThe Multiple has broadly cooled this bull cycle compared to others before it, reaching a maximum level of 1.84 in March 2024. At the time, BTC/USD traded at around $72,000, per data from onchain analytics platform Glassnode.

Bitcoin Mayer Multiple. Source: GlassnodeIn July this year, another popular crypto analyst, Axel Adler Jr., likewise described Multiple readings near 1.1 as a “good fuel reserve for a new upward impulse.”

BTC price breakout on holdThe timing of Bitcoin’s next volatile move remains a topic of debate.

Current theses suggest that unless a breakout occurs by the end of the year, the entire bull market may be in danger.

Meanwhile, short-term perspectives see choppy BTC price action characterizing October, traditionally Bitcoin’s most successful month.

A 10% dip could still come, taking Bitcoin back to $114,000 or even its range lows.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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State Street, one of the largest banking institutions in the United States, has released a new report in which they disclose that institutional investors currently allocate over 20% of their total assets under management (AUM) to crypto assets, a figure expected to more than double in the next three years.

Increased Crypto Exposure 
The latest edition of the State Street Digital Assets and Emerging Technology Study indicates that the average portfolio allocation to various digital assets stands at 7%. However, this is projected to rise to 16% within three years. 

The report highlights that “digital cash” and tokenized versions of listed equities or fixed income are the most prevalent forms of these investments, with respondents reporting an average allocation of 1% in each category.

Interestingly, asset managers show a greater inclination towards crypto assets compared to asset owners. For instance, managers are twice as likely to hold 2-5% of their portfolios in Bitcoin (BTC)—14% of managers versus 7% of owners. 

Additionally, 5% of managers have 5% or more of their AUM in Bitcoin, compared to just 4% of owners. Ethereum (ETH) also sees a similar trend, with six times as many managers holding 5% or more in Ethereum compared to their owner counterparts.

The report reveals that asset managers are leading the way in terms of exposure to tokenized assets. They report a significant presence in the tokenization of public assets (6% versus 1% for owners) and private assets (5% versus 2%). 7% of managers have invested in digital cash, compared to only 2% of asset owners.

Last year, the research did not specify percentage holdings but focused on whether respondents intended to increase their digital asset exposure. At that time, one-third of respondents (33%) planned to maintain their current holdings, while half (50%) aimed for increases within the following year. 

Looking ahead five years, 69% of respondents anticipated increasing their allocations, with 26% planning “significant” increases. This consistency in intention suggests a steady trend toward greater digital asset allocations.

Institutions Favor Bitcoin Over Other Digital Assets
Despite stablecoins and tokenized real-world assets (RWAs) forming the largest part of these allocations, crypto assets remain pivotal in generating returns. 

The report notes that 27% of respondents believe Bitcoin currently delivers the highest returns among their digital asset portfolios, with a quarter expecting it to maintain this status over the next three years. Ethereum follows closely, with 21% stating it is their primary return generator.

Looking forward, the research reveals that most institutions expect crypto assets to become mainstream within the next decade. However, respondents express caution regarding the pace of this growth. 

By 2030, 52% anticipate that digital assets or tokenized instruments will make up between 10% and 24% of all investments, while only 1% predict that the majority of investments will be conducted this way.

The daily chart shows BTC’s consolidation just below all-time high levels. Source: BTCUSDT on TradingView.com
At the time of writing, the leading crypto, Bitcoin, is trading at $122,670. It is attempting to consolidate above the $120,000 mark, with the aim of establishing it as new support for further potential upward movements and new record highs. 

Featured image from DALL-E, chart from TradingView.com 

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Posted: October 10, 2025

Key Takeaways
What triggered DEXE’s recent 12% price drop? 
The decline was driven by repeated failures to break a key resistance level and intensified selling pressure.

How are investors across exchanges positioning themselves on DEXE? 
Bearish sentiment dominates, with 19 out of 20 exchanges showing traders betting on further downside.

DeXe [DEXE] saw a massive 12% price decline on the 9th of October, as data across multiple exchanges showed that investors are betting heavily on the asset’s downside potential.

Critically, the key driver behind this decline stems from its repeated failure to breach a crucial resistance level. AMBCrypto provides a detailed look at what could be next for DEXE as the week winds down.

Critical resistance fails to break
The decline for DEXE isn’t new territory for the asset, as it has faced the same outcome for four consecutive weeks.

Source: TradingView

This trend has been driven by its repeated failure to break through a key resistance level marked on the chart above. The latest drop coincided with a descending resistance line, which added further weight to the selling pressure.

Zooming into the lower time frame, the 4-hour chart suggests that more declines are likely in the short term.

However, the Fibonacci retracement line indicates that the fall could be temporary if the asset manages to hold above the Fib level at $10.74.

If it fails to do so, DEXE could see another sweep to the lower end of the chart, with the next major support resting around $9.96

Source: TradingView

Liquidity drops as investors exit
A sharp drop in liquidity across the derivatives market has added more pressure to DEXE’s bearish outlook.

Perpetual market investors sold approximately $5.3 million worth of the asset, significantly reducing the total available liquidity.

Notably, the outflow was led by Binance investors, according to data from CoinGlass. The analysis revealed that the Long-to-Short Ratio stood at 0.87, at press time, confirming that more investors are selling in the market.

This is significant, as Binance held around $21.97 million DEXE tokens, representing roughly 66% of total market liquidity. This dominance gives Binance traders greater influence over price movements.

In fact, Binance investors control the majority of DEXE’s total trading volume, implying they have the most impact on the asset’s price direction.

Binance investors aren’t alone
The sell-off is market-wide and not limited to Binance investors alone.

CoinGlass data shows that out of the 20 listed exchanges where DEXE is traded, 19 are dominated by bearish investors betting on further price declines.

The only exception is WhiteBit exchange, where traders remain bullish on DEXE.

If bearish sentiment continues to dominate the market, it could further weigh on the asset’s price, pushing DEXE’s trend even lower on the charts.

October 10, 2025 02:15 ET

 | Source:

IDEX BIOMETRICS ASA

Mumbai, India – IDEX Biometrics is proud to announce the launch of India’s first RuPay biometric payment card, in collaboration with Hitachi Payment Services and Airtel Payments Bank. The launch was unveiled at the prestigious Global Fintech Fest in Mumbai, marking a significant milestone in the evolution of secure and inclusive digital payments in India.

This innovative solution leverages IDEX Pay, our advanced biometric smart card technology, enabling fingerprint authentication as a second factor of authentication (AFA) for digital transactions. The launch follows the Reserve Bank of India’s (RBI) recent regulatory update permitting biometric authentication for digital payments, paving the way for more secure and user-friendly payment experiences.

The biometric RuPay card is currently undergoing pilot testing, with all partners working closely to bring it to market as soon as possible. This initiative reflects IDEX Biometrics’ long-term commitment to supporting the RuPay ecosystem and advancing India’s rapidly growing card payments market.

“The RBI’s AFA update in September was a watershed moment for the Indian payments industry,” said Anders Storbråten, CEO of IDEX Biometrics. “We are well-positioned, alongside our Indian and global partners, to lead the adoption of biometric payment cards across RuPay, Visa, and Mastercard networks. Launching the first RuPay biometric card at the Global Fintech Fest is a proud achievement for IDEX and our partners.”

This collaboration underscores the shared vision of IDEX Biometrics, Hitachi Payment Services, and Airtel Payments Bank to deliver secure, convenient, and inclusive payment solutions to millions of Indian consumers.

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit www.idexbiometrics.com

For further information, please contact:
Anders Storbråten, CEO and CFO, Tel: +47 416 38 582
E-mail: [email protected]

About this notice:
This notice was issued by Kjell-Arne Besseberg, COO, on October 10, 2025 at 08:15 CEST on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

Launch of India's first RuPay biometric payment card

Launch of India's first RuPay biometric payment card
IDEX Biometrics, Hitachi Payment Services, and Airtel Payments Bank launch of India's first RuPay bi...

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in GECC over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Johnson & Johnson (NYSE:JNJ) will release earnings results for the third quarter, before the opening bell on Tuesday, Oct. 14.

Analysts expect the New Brunswick, New Jersey-based company to report quarterly earnings at $2.76 per share, up from $2.42 per share in the year-ago period. Johnson & Johnson projects quarterly revenue of $23.76 billion, compared to $22.47 billion a year earlier, according to data from Benzinga Pro.

On Tuesday, the U.S. Food and Drug Administration (FDA) approved Johnson & Johnson's Simponi (golimumab) for children with moderately to severely active ulcerative colitis (UC) who weigh at least 15 kg.

Shares of Johnson & Johnson rose 0.7% to close at $191.08 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

Goldman Sachs analyst Asad Haider maintained a Buy rating and raised the price target from $186 to $212 on Oct. 9, 2025. This analyst has an accuracy rate of 66%.
Citigroup analyst Joanne Wuensch maintained a Buy rating and boosted the price target from $200 to $213 on Oct. 7, 2025. This analyst has an accuracy rate of 72%.
B of A Securities analyst Tim Anderson maintained a Neutral rating and raised the price target from $175 to $198 on Oct. 3, 2025. This analyst has an accuracy rate of 72%.
Guggenheim analyst Vamil Divan upgraded the stock from Neutral to Buy and raised the price target of $167 to $206 on Sept. 23, 2025. This analyst has an accuracy rate of 78%.
JP Morgan analyst Michael Weinstein maintained a Neutral rating and raised the price target from $185 to $200 on Sept. 16, 2025. This analyst has an accuracy rate of 72%
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