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Solana neared the network freeze threshold Wednesday. (Marinade)Summary

A routing failure at a major data center provider briefly knocked nearly 29% of Solana’s staked tokens offline, bringing the network close to a full halt, according to staking platform Marinade.Because Solana stops finalizing transactions if more than one-third of staked tokens go offline, the incident left the network within about 20 million tokens of a freeze similar to a five-hour outage in February 2024.The glitch, traced to a bad internet route originating at Teraswitch’s Miami facility and spreading to data centers in Europe and Asia, exposed the risk of relying on a single connectivity provider that controlled more than a quarter of all staked tokens.Solana nearly froze on Wednesday morning when a routing glitch at a major data center provider knocked almost 29% of the network’s staked tokens offline, staking platform Marinade said.

Finality, the point at which blockchain transactions become irreversible, stops if more than a third of the coins staked go dark. Staking refers to act of locking coins in a blockchain network to secure it in return for rewards.

Marinade said that the network came within about 20 million tokens of that threshold. Roughly 90 validators were hit and together lost 333 SOL in rewards, a relatively small sum that will be covered by “validator bonds.”

“If delinquency had gone past a third, nothing finalizes for anyone holding SOL anywhere, and there's no bond for that. The February 2024 halt took about five hours to restart,” Marinade said in an explainer post.

Solana is one of the leading smart contract blockchains, with assets worth $4.3 billion locked in DeFi protocols operating on the network. The blockchain has built a reputation as a faster and cheaper alternative to industry leader Ethereum, but has faced several outages in the past.

The latest issue started with a bad internet route from Teraswitch’s Miami facility that then spread to data centers across Europe and Asia, cutting off validators in London, Amsterdam, Frankfurt, Singapore and Tokyo. North America stayed online. The company fixed the issue in about 10 minutes, and traffic was flowing again by 4:16 a.m. UTC.

One single network operator, identified as AS2032, controlled more than a quarter of all the tokens people had locked up to secure the network, which was more than the Solana-prescribed safety limit. Almost all of those tokens went offline at the same time. Other companies lost another 14 million tokens in the same short period. Most of the affected validators, including the big one called Helius, stayed offline for the full 33 minutes because their backup systems never switched on.

This whole event is a clear warning: if more than one-third of the network’s tokens ever go offline at once, the entire blockchain freezes for every single person holding SOL, and there is no quick way to fix the bigger damage that would follow.

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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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

By PYMNTS  |  August 12, 2026

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Moneris Solutions Corp., a Canadian provider of payments and commerce solutions that is jointly owned by BMO and Royal Bank of Canada (RBC), is set to be acquired by global investment firm Francisco Partners, Moneris said in a Monday (Aug. 10) press release.

Francisco Partners has entered into a definitive agreement to acquire Moneris from BMO and RBC for 2 billion Canadian dollars (about $1.4 billion). Subject to customary regulatory approvals and closing conditions, the transaction is expected to close by the end of the first quarter of BMO and RBC’s fiscal year 2027, according to the release.

In addition, the company has established long-term referral agreements with both BMO and RBC that will see the banks exclusively refer customers to Moneris, the release said.

As part of the transaction, Jeff Sloan, former president and CEO of Global Payments, will join Moneris as chairman, complementing the company’s existing leadership team, per the release.

Moneris offers eCommerce and omnichannel solutions, point-of-sale hardware and software, integrated business tools, and data and insights; serves businesses of all sizes across Canada; and helps businesses accept and manage payments in one out of three transactions across the country, according to the release.

Moneris President and CEO James Hicks said in the release: “This announcement marks an exciting next step in Moneris’ continued evolution as the company that powers Canadian commerce.”

Francisco Partners Principal Nate Zupan said in the release: “With Jeff Sloan’s deep industry expertise and strategic counsel as chairman, we are excited to support the Moneris team as they continue to deliver the technology, scale and reliability Canadian businesses need to thrive in an increasingly digital and AI-driven economy.”

In its own Monday press release about the sale of the jointly owned company, BMO said that its share of the 2 billion Canadian dollar transaction is 50%.

“Through our ongoing referral arrangements, clients will continue to benefit from the trusted support and solutions they rely on today,” Sharon Haward-Laird, group head, Canadian Commercial Banking & North American Integrated Solutions, and co-head Canadian Personal & Commercial Banking, BMO, said in the release.

RBC said in a Monday press release that its share of the transaction is 50% and that Moneris’ exclusive long-term customer referral arrangements with RBC and BMO will ensure that new and existing business clients continue to receive Moneris’ support and solutions.

“We’re eager to see the accelerated investment in innovation and modernized solutions Moneris will bring to our valued business clients and the Canadian market,” Sean Amato-Gauci, group head, Commercial Banking, RBC, said in the release.

It was reported in August 2025 that RBC and BMO were exploring a sale of Moneris, which they founded in 2000.

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Sitting quietly in Berkshire Hathaway's portfolio is SiriusXM Holdings (SIRI -1.14%), which only accounts for 1.1% of the conglomerate's total portfolio. Looking a little more closely, however, shows that while its stake is small as a percentage in the portfolio, Berkshire still owns a huge chunk of the company itself: 37%.

The stock price has been on a good run in 2026, climbing nearly 50% as of this writing. But going back a little further, it's also lost 50% over the past five years. It's dealing with subscriber slowdown and increased competition, which will continue to be difficult to navigate.

That said, SiriusXM announced a deal with Alphabet that was easy to overlook but could be a meaningful long-term driver of revenue growth for the satellite radio company.

Image source: Getty Images.

The SiriusXM and Alphabet audio deal SiriusXM announced a partnership with YouTube (owned by Alphabet) in April, making it the exclusive advertising representative of YouTube's U.S. audio advertising inventory. In addition to its video content, YouTube offers podcasts, talk shows, and music channels, which are all ripe for advertising opportunities. The ad process will be handled by SiriusXM Media and the platform AdsWizz, which SiriusXM owns.

Through the deal, which is supposed to kick off in the fall, SiriusXM can generate revenue by handling the ad process. But it could also be a cross-selling boost for the company, as advertisers may want to run ads on SiriusXM-run stations in addition to YouTube to increase an ad campaign's exposure.

Reaching potential customers in audio format Despite all the worry about how artificial intelligence is changing the search engine landscape, Alphabet is still generating hundreds of billions of dollars in ad revenue. That's because in terms of reach, advertisers still know Alphabet's search engine, Google, is a premier destination for looking something up online.

SiriusXM can operate in a similar capacity for advertisers. Instead of connecting advertisers to search engine users, SiriusXM connects advertisers with listeners through its extensive reach in the audio entertainment space. But that's more of an operational comparison than an example of what's possible in terms of revenue. In 2025, Alphabet generated $294.6 billion in just ad revenue, while SiriusXM's 2025 full-year revenue totaled $8.5 billion. SiriusXM will never haul in anywhere near what Alphabet makes in advertising.

That said, while it's difficult to put a dollar figure on what managing audio ads for other platforms could generate, the process can still become a meaningful revenue driver for SiriusXM.

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The global podcast advertising market alone is expected to grow from $28.5 billion in 2026 to $38.5 billion by 2030, according to Grand View Research. And its current advertising revenue is showing steady progress; for the first six months of 2026, SiriusXM's total advertising revenue reached $861 million, a 4.2% increase from the first six months of 2025.

While it won't ever become an advertising powerhouse like Alphabet, handling the audio ad process for other platforms could become a new revenue growth engine for SiriusXM. And over the long term, that could continue to ignite investor enthusiasm, helping to extend the stock price's nearly 50% climb over the last year and reversing its 50% loss over the last five years.

Key Takeaways Venture Global's Q2 EPS soared 264.3% y/y to 51 cents as revenues climbed 47.6% to $4.58B.LNG volumes sold rose 41.7%, while Plaquemines supplied 90 of 127 exported cargoes in the quarter.Venture Global raised 2026 adjusted EBITDA guidance to $8.70-$9.10B and cargo outlook to 50--518. Venture Global, Inc. (VG - Free Report) reported second-quarter 2026 earnings of 51 cents per share, beating the Zacks Consensus Estimate of 49 cents by 4.08%. The bottom line skyrocketed 264.3% from 14 cents in the year-ago quarter.

Quarterly revenues rose 47.6% year over year to $4.58 billion and topped the Zacks Consensus Estimate of $4.50 billion by 1.64%. Higher LNG sales volumes, led by Plaquemines commissioning, and stronger LNG sales prices net of feed gas costs drove the results. Venture Global exported 127 cargoes during the quarter.

VG Benefits From Higher LNG Sales VolumesLNG volumes sold increased 41.7% year over year to 466.4 trillion British thermal units, or TBtu, from 329.2 TBtu. Exported LNG volumes rose 44.6% to 478.3 TBtu from 330.8 TBtu.

Plaquemines accounted for 90 cargoes, while Calcasieu Pass contributed 37. The company also exported its 1,000th cargo across its projects, reaching the milestone about four years after its first export.

Venture Global Posts Strong Operating Profit GrowthIncome from operations climbed 110.8% year over year to $2.19 billion from $1.04 billion. Consolidated adjusted EBITDA increased 78.8% to $2.49 billion from $1.39 billion, with the EBITDA margin reaching 54%.

Net income attributable to common stockholders was $1.35 billion compared with $368 million a year earlier. Higher sales volumes and better LNG sales prices net of feed gas costs were the primary contributors to the EBITDA increase.

VG Sees Mixed Expense Trends in the QuarterCost of sales increased to $1.66 billion from $1.42 billion as LNG volumes rose. Operating and maintenance expenses advanced to $335 million from $217 million, reflecting increased commissioning work at Plaquemines and a larger fleet of Venture Global-owned ships in operation.

General and administrative expenses were $112 million compared with $103 million a year ago. Development expenses fell to $23 million from $57 million, while depreciation and amortization declined to $260 million from $267 million. Total operating expenses were $2.39 billion versus $2.06 billion.

Venture Global Advances Plaquemines & CP2Plaquemines remains in the final stages of construction, commissioning and assurance testing ahead of Phase 1 commercial operations. Venture Global continues to target Phase 1 commercial operations in the fourth quarter of 2026 and Phase 2 in mid-2027.

CP2 remains on schedule for first LNG in the second half of 2027. The project had 16 liquefaction modules on site, roofs raised on all four LNG storage tanks, and five gas and steam turbines on foundations. Engineering was 100% complete and procurement stood at 79%.

VG Raises Full-Year EBITDA GuidanceVenture Globalraised its 2026 consolidated adjusted EBITDA guidance to $8.70-$9.10 billion from $8.20-$8.50 billion. The updated range assumes a fixed liquefaction fee of $12.50-$13.50 per million British thermal units (MMBtu) for remaining unsold cargoes. A $1 per MMBtu change in the fee is expected to move full-year adjusted EBITDA by $180-$210 million.

The company expects 500-518 cargoes in 2026, including 149-154 from Calcasieu Pass and 351-364 from Plaquemines. As of Aug. 11, 91% of expected 2026 cargoes were contracted at a weighted-average liquefaction fee of $5.05 per MMBtu, while 75% of expected 2027 cargoes were contracted.

Venture Global Expands Liquidity & Shareholder ReturnsCash and restricted cash totaled $4.60 billion as of June 30, 2026, while total assets reached $61.52 billion. The company also had a $2-billion corporate revolving credit facility that remained undrawn and fully available.

Venture Global refinanced $5.30 billion of capital since the start of the second quarter, generating more than $100 million of expected annual interest and coupon savings. The board raised the quarterly dividend 122% to 4 cents per share, payable Sept. 30, to shareholders of record as of Sept. 15.

Zacks Rank & Key PicksVenture Global currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , HF Sinclair Corporation (DINO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF and DINO sport a Zacks Rank #1 (Strong Buy) at present, and WHD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05.

As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.

HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39.

As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion.

Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents.

As of June 30, 2026, WHD had cash and cash equivalents of $365 million.

Key Takeaways Amcor's Q4 adjusted EPS rose 23%, beating estimates as the Berry Global deal boosted results.Berry Global drove revenue growth, while synergies, volumes and productivity expanded EBITDA margins.Amcor delivered $115M in Q4 synergies and reaffirmed its $650M three-year synergy target. Amcor Plc (AMCR - Free Report) has reported fourth-quarter fiscal 2026 adjusted earnings per share (EPS) of $1.23, which beat the Zacks Consensus Estimate of $1.20. The bottom line grew 23% from the year-ago quarter. The results benefited from the Berry Global acquisition, strong synergy realization, organic volume growth and productivity gains, which helped offset a challenging macro environment and significant input-cost inflation.

Including special items, the company reported diluted earnings per share of 83 cents against a loss of 10 cents in the prior-year quarter.

AMCR’s Revenues Benefit From AcquisitionTotal revenues increased 26% year over year to $6.40 billion in the reported quarter. The top line surpassed the Zacks Consensus Estimate of $6.03 billion.

The sales increase was largely driven by the Berry Global acquisition and the pass-through of higher raw-material costs. Organic volume increased around 0.5% from the year-ago period.

Amcor’s Adjusted EBITDA Margin Expands in Q4The cost of sales rose 20.9% year over year to $5 billion. Gross profit rose 49.4% year over year to $1.34 billion. The gross margin was 20.9% compared with the year-ago quarter’s 17.6%.

SG&A expenses were $568 million, up 39.2% year over year.

Adjusted EBITDA was $1.05 billion, a 32% increase from $789 million in the prior-year quarter. The adjusted EBITDA margin expanded to 16.3% from 15.5% a year earlier.

The improvement reflected benefits from the Berry Global acquisition, synergy realization, organic volume growth and productivity. Amcor delivered around $115 million in synergies in the fourth quarter, ahead of expectations.

AMCR’s Segmental Performances in Q4Global Flexible Packaging Solutions: Net revenues increased 18% year over year to $3.53 billion in the reported quarter. Acquisitions contributed 10% to growth, while the pass-through of higher raw-material costs primarily drove the balance of the increase. Volumes increased 1% from the year-ago period. Our model projected net sales of $3.32 billion based on an expectation of year-over-year volume growth of 1% and a favorable acquisition benefit of 7%.

The segment’s adjusted operating income came in at $533 million, growing 23% from $435 million in the prior-year quarter.

Global Rigid Packaging Solutions: The segment reported revenues of $2.87 billion in the quarter, marking a 38% increase from $2.09 billion in the year-ago period. Acquisitions contributed 32% to growth, while the pass-through of higher raw-material costs primarily accounted for the remaining increase. Volumes rose 0.5%. We projected revenues of $2.69 billion for the segment with positive impacts of the Berry Global acquisition of 32% and volume growth of 1%.

The segment’s adjusted EBIT surged 61% to $352 million from $219 million in the prior-year quarter.

Amcor’s Cash Flow & Balance Sheet UpdatesAs of the end of fiscal 2026, Amcor had $1.12 billion in cash and cash equivalents compared with $0.83 billion at the end of fiscal 2025. The company generated $2.15 billion in cash from operating activities in fiscal 2025 compared with $1.34 billion in the prior fiscal year.

AMCR generated a free cash flow of $1.30 billion in fiscal 2026 compared with $926 million in fiscal 2025. The company noted that free cash flow was below expectations due to higher-than-expected working-capital impacts related to the Middle East conflict and the timing of integration costs.

As of June 30, 2026, Amcor’s net debt totaled $12.90 billion. The company’s leverage stood at 3.5 times, in line with expectations. AMCR expects to recover more than $500 million in cash-flow impacts related to the Middle East conflict and the timing of integration costs over the next 12 months.

AMCR’s FY26 PerformanceAmcor reported an adjusted EPS of $4.02 in fiscal 2026, up 13% from $3.56 in fiscal 2025. However, the figure missed the Zacks Consensus Estimate of $3.97.

Including special items, AMCR reported EPS of $2.38 compared with $1.60 in fiscal 2025.

Total revenues rose 57% year over year to $23.51 billion and beat the consensus estimate of $23.20 billion, largely driven by the Berry Global acquisition. Adjusted EBITDA increased 68% to $3.67 billion from $2.19 billion.

Amcor Provides Transition-Period OutlookAMCR expects adjusted earnings of $1.80-$1.90 per share for the six-month transition period ending Dec. 31, 2026, as it changes its year-end from June to December.

For the three months ending Sept. 30, 2026, adjusted earnings are expected between 92 cents and 98 cents per share. Looking toward calendar 2027, the company expects double-digit adjusted earnings growth and is targeting leverage of 3.0 times by the year-end. Amcor also reaffirmed its three-year synergy target of $650 million, after delivering $285 million in fiscal 2026.

AMCR’s Price PerformanceIn the past year, the company’s shares have gained 1.3% compared with the industry’s 6.4% growth.

Image Source: Zacks Investment Research

Amcor’s Zacks RankPerformances of Other Packaging Stocks This Earnings SeasonPackaging Corporation of America (PKG - Free Report) reported second-quarter 2026 adjusted earnings of $2.35 per share, falling 5.2% year over year but beating the Zacks Consensus Estimate of $2.31. The bottom line also came above Packaging Corp’s guidance of $2.33.

Packaging Corp’s revenues increased 14.7% year over year to $2.49 billion and surpassed the consensus estimate of $2.40 billion by 3.6%. Total corrugated products shipments reached an all-time quarterly record, rising 24.3% both per day and in total from the prior-year quarter.

Crown Holdings, Inc. (CCK - Free Report) posted second-quarter 2026 adjusted earnings of $2.49 per share, up 15.8% year over year. The figure surpassed the Zacks Consensus Estimate of $2.15 by 15.81%.

Crown Holdings revenues increased 16.5% to $3.67 billion and beat the consensus estimate of $3.34 billion by 9.88%. Global beverage can volumes rose 5%, led by 6% growth in Europe and 5% growth in the Americas. This was partially offset by softer demand in Latin America.

Sonoco Products Company (SON - Free Report) reported adjusted earnings of $1.51 per share in the second quarter of 2026, beating the Zacks Consensus Estimate of $1.47 by 2.72%. The figure rose 10.2% from $1.37 in the year-ago quarter. Pricing actions, favorable foreign-exchange movements and productivity gains helped offset the softer volume/mix during the quarter.

Sonoco’s revenues of $1.885 billion declined 1.3% year over year and missed the consensus mark of $1.886 billion by 0.05%. Sonoco’s top line declined from the prior-year period primarily due to the absence of sales from the ThermoSafe business, which was divested in November 2025.

Key Takeaways Cheniere's Q2 2026 earnings rose to $1.10 per unit, beating estimates, as LNG volumes increased 12.5% Y/Y.Cheniere's adjusted EBITDA increased 35.4% to $983M as higher LNG margins and lower costs boosted results.Cheniere reaffirmed its 2026 distribution guidance in the range of $3.10-$3.40 per common unit. Cheniere Energy Partners, L.P. (CQP - Free Report) reported second-quarter 2026 earnings per unit of $1.10, beating the Zacks Consensus Estimate of 95 cents by 15.79%. The bottom line increased from 91 cents reported a year earlier.

Following the earnings announcement on Aug. 6, 2026, CQP units are up 5% to $66.58 per unit from $63.33 per unit.

Revenues of $2.6 billion increased 5.2% from $2.5 billion a year ago. The top line missed the consensus mark of $2.7 billion by 3.70%.

The strong quarterly earnings benefited from higher total margins per million British thermal units (MMBtu) of liquefied natural gas (LNG) delivered, primarily due to increased volumes recognized in income.

CQP exported 108 LNG cargoes, up from 98 a year earlier, while exported volumes increased 12.5% to 396 trillion British thermal units (TBtu).

CQP's LNG Volumes Support Revenue GrowthLNG revenues increased 2.4% to $1.90 billion from $1.86 billion. LNG revenues from affiliates rose 14.9% to $631 million from $549 million. Regasification revenues were unchanged at $34 million, while other revenues edged up to $16 million from $15 million.

The partnership loaded and recognized 396 TBtu of LNG during the quarter compared with 351 TBtu in the prior-year period, representing growth of 12.8%. The higher throughput allowed CQP to handle more volume and capture better LNG profit margins.

Cheniere's Profit Gets Derivative LiftNet income increased to $1.16 billion from $553 million in the year-ago quarter. The increase primarily reflected higher LNG margins and approximately $367 million of favorable variances from changes in the fair value of derivative instruments, including long-term Integrated Production Marketing agreements.

Reported basic and net income per common unit rose to $2.14 from 91 cents. Changes in commodity derivative values can create sizable non-cash swings in reported earnings, making operating measures useful for assessing the underlying performance of the LNG business.

CQP's Adjusted EBITDA Rises as Costs EaseAdjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 35.4% to $983 million from $726 million. Management attributed the increase primarily to higher total margins per MMBtu of LNG delivered, driven by greater volumes recognized in income.

Total operating costs and expenses declined to $1.24 billion from $1.74 billion. Cost of sales fell to $765 million from $1.20 billion, while operating and maintenance expense decreased to $230 million from $289 million. Income from operations consequently increased to $1.34 billion from $715 million.

Cheniere Strengthens LiquidityCQP ended June with $443 million in cash and cash equivalents and $23 million in restricted cash. Available commitments under its credit facilities totaled $1.87 billion, giving the partnership total available liquidity of $2.34 billion.

CQP’s Cash Flow & DistributionFor the six months ended June 30, 2026, net cash provided by operating activities increased to $1.61 billion from $1.22 billion a year earlier. Investing activities used $299 million, including $297 million for property, plant and equipment, while financing activities used $1.05 billion.

The partnership declared a second-quarter cash distribution of 82 cents per common unit, comprising a 77.5-cent base amount and a 4.5-cent variable component.

Cheniere Reconfirms Distribution GuidanceCheniere reconfirmed its 2026 distribution guidance in the range of $3.10-$3.40 per common unit, including a base distribution of $3.10.

CQP is advancing the Sabine Pass LNG Expansion Project. In May, Sabine Pass Liquefaction Stage V entered into an engineering, procurement and construction contract with Bechtel for the first phase and authorized early engineering and procurement. The initial phase includes Train 7 and a boil-off gas re-liquefaction unit, with an expected production capacity of more than 6 million tons per annum, including estimated debottlenecking opportunities.

CQP’s Zacks Rank & Key PicksCheniere currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , HF Sinclair Corporation (DINO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF and DINO sport a Zacks Rank #1 (Strong Buy) each, while WHD carries a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share.

As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.

HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share.

As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion.

Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share.

As of June 30, 2026, WHD had cash and cash equivalents of $365 million.

Key Takeaways IQVIA shares gained 41.5% in three months, outpacing its industry and the S&P 500 Composite.R&DS net new bookings rose 19% to $3.2B, while contracted backlog reached $34.2B as of June 30, 2026.IQVIA raised its 2026 revenue and EPS guidance, while 1H share repurchases totaled $950M. IQVIA Holdings Inc. (IQV - Free Report) stock has rallied over the past three months. The company’s shares have jumped 41.5%, outperforming the industry’s 17.2% growth and the Zacks S&P 500 Composite's 3.4% uptick.

3-Month Share Price Performance                                                                 Image Source: Zacks Investment Research

Let us delve into the factors that have contributed to the company’s outperformance.

Record Net Bookings & Solid BacklogsIQVIA’s net new bookings were $3.2 billion for research and development solutions (R&DS) in the second quarter of 2026. It marked 19% year-over-year growth, resulting in a book-to-bill ratio of 1.22X. As the metric surpasses 1, it implies that new order intake exceeds current revenue recognition.

RD&S’s contracted backlog was $34.2 billion as of June 30, 2026. In the second quarter of 2026, the company anticipated $9.2 billion in backlog to convert to top line in the next 12 months, suggesting a 7.5% year-over-year increase.

A high backlog with substantial probability of future revenue provides analysts and investors long-term visibility into top-line growth, lowering earnings uncertainty. Highly predictable and recurring revenues raise investor confidence.

Raised 2026 Outlook Lifts Investor SentimentIn the second quarter of 2026, management uplifted revenue expectations to $17.28-$17.48 billion from the preceding quarter’s view of $17.15-$17.35 billion. The bottom-line prospect was raised to $12.8-$13 per share from $12.65-$12.95 provided during the first quarter of 2026.

A hike in top- and bottom-line guidance raises investors' confidence and prompts analysts to revise their financial models upward, resulting in higher price targets. Currently, based on short-term price targets provided by 19 analysts, the average price target for the stock is $265.26. It offers a 9.6% upside from the last closing price of $241.99.

                                                                 Image Source: Zacks Investment Research

Shareholder-Friendly ActionsIQVIA has demonstrated a strong commitment to returning value to its shareholders through an active share repurchase program. In 2025, IQV repurchased shares worth $1.24 billion. In the first half of 2026, the company’s share repurchases amounted to $950 million. This substantial buyback not only reduces the total outstanding share count, thereby increasing earnings per share, but also signals management's belief in the intrinsic value of the stock. 

Zacks Rank & Stocks to ConsiderIQVIA currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Medical sector are Anika Therapeutics (ANIK - Free Report) and BrightSpring Health Services, Inc. (BTSG - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

ANIK has a long-term earnings growth expectation of 10%. Anika Therapeutics delivered a trailing four-quarter earnings surprise of 950%, on average.

BTSG has a long-term earnings growth expectation of 46%. BrightSpring delivered a trailing four-quarter earnings surprise of 16.1%, on average.

Super Micro Computer, Inc‘s (NASDAQ:SMCI) AI problem is no longer finding customers. With more than $60 billion in new orders, a record backlog, and fiscal 2027 revenue guidance of $65 billion to $72 billion, demand appears stronger than ever.

But buried in the company’s earnings call was an unexpected message: if business accelerates beyond those already ambitious targets, the next hurdle may be financing that growth—not generating it.

SMCI’s Working Capital Challenge Comes Into FocusThe clearest hint came during the Q&A when CEO Charles Liang was asked whether the company’s recent $5.6 billion fundraising marked the end of its capital needs. His answer suggested that it depends entirely on how fast the business grows.

“Once we keep between $65 billion and $72 billion, I guess our cash flow now is pretty enough. But if there is a chance to grow much higher revenue, then we may need more cash flow—for example, $80 billion or beyond $80 billion,” Liang said.

That’s a notable shift in the conversation around Super Micro. For much of the AI boom, investors debated whether demand would hold up or whether chip shortages would slow growth. Liang’s comments suggest the company is thinking about a different constraint altogether.

The reason is simple. Super Micro must buy expensive processors, memory and networking equipment, build AI servers and ship them before collecting payment from customers. As orders grow, more cash gets tied up in inventory and receivables, increasing the amount of capital needed to keep the business expanding.

That helps explain why CFO David Wiegand said the proceeds from the recent equity offerings would be used “primarily to support increased working capital needed to support our new orders.”

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Wall Street Sees the Same Risk for SMCILiang’s comments didn’t go unnoticed.

JPMorgan raised its price target after the earnings report, citing robust order momentum and stronger-than-expected guidance. However, the bank also flagged working capital as an issue investors should keep watching.

The analysts noted that if Super Micro ultimately delivers revenue well above its current guidance, the company could require additional equity or debt financing to support that expansion. While record orders remain a positive, raising more capital could pressure future earnings through financing costs or shareholder dilution.

That doesn’t diminish the strength of Super Micro’s AI business. If anything, it underscores how quickly the company is scaling. But it does shift the investment debate.

For investors, the next question isn’t whether Super Micro can win more AI orders—the backlog suggests it already has. Instead, the focus may increasingly turn to whether the company can convert that demand into profitable growth without repeatedly tapping capital markets.

As the AI infrastructure race enters its next phase, the balance sheet could become almost as important as the order book.

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Memory and storage stocks surged on Wednesday as fresh results and upbeat forecasts from CoreWeave and Super Micro Computer reassured investors that spending on artificial intelligence infrastructure remains strong.

Micron Technology MU rose more than 6% in early trading, while South Korea's SK Hynix gained about 8%.

SanDisk climbed more than 7%, and Western Digital advanced over 6%.

The gains came as investors digested stronger-than-expected signals from companies at the heart of the AI infrastructure buildout.

CoreWeave and Super Micro Computer both jumped sharply, with their shares rising about 18% and 13%, respectively.

The strong results provided another boost to broader markets that were also benefiting from a softer-than-expected US inflation reading.

Coreweave, Super Micro establish that AI infra demand remains strongCoreWeave raised its forecasts for annual revenue, adjusted operating profit and capital expenditure, pointing to sustained demand for its Nvidia-powered AI infrastructure.

The company operates data centres packed with high-end graphics processing units that are used to power generative AI workloads.

Those systems require large quantities of high-bandwidth memory, or HBM, as well as high-capacity DRAM, making memory suppliers such as Micron and SK Hynix important beneficiaries of the AI spending cycle.

Super Micro also offered an upbeat outlook, forecasting 2027 revenue above Wall Street expectations.

The projection underscored continued investment by data-centre operators seeking to expand their capacity to handle increasingly demanding AI workloads.

The company's fourth-quarter gross margin came in at 17.5%, above its preliminary estimate of 15%-17% and well ahead of its initial forecast of 8.2%-8.4%.

Recent comments from Micron have added to optimism surrounding the memory market.

At the KeyBanc Capital Markets Technology Leadership Forum 2026 on Monday, Micron executive vice president and chief business officer Sumit Sadana said AI was reshaping memory demand faster than the industry could add supply.

Sadana described a market characterised by strong pricing, robust customer demand and continuing capacity constraints.

He said Micron had seen stronger demand signals since its latest earnings report and expected 2027 to be even tighter than 2026.

The comments suggest that memory manufacturers could retain pricing power as AI infrastructure investment expands, despite efforts by producers to increase capacity.

Another potential catalyst for memory suppliers is Nvidia's upcoming Rubin Ultra platform.

UBS analyst Timothy Arcuri said Monday that Nvidia appeared to be considering lower-memory versions of the chip, a move that could initially appear negative for HBM suppliers.

The Information reported that Nvidia was testing configurations with lower memory capacity amid concerns over HBM availability.

However, Arcuri argued that using less memory per chip could allow Nvidia to manufacture more chips.

As a result, total HBM consumption could ultimately be higher in 2027 than previously expected.

Arcuri also said memory suppliers were increasing the premium charged for HBM.

He now expects HBM average selling prices to rise about 79% year over year, compared with his previous estimate of 67%.

The improving outlook extends beyond HBM.

Arcuri expects NAND flash contract pricing, which is relevant to suppliers such as SanDisk, to benefit from stronger-than-expected demand for server and storage solid-state drives.

That demand is helping offset weakness in the personal-computer market.

While the analyst expects sequential growth in NAND average selling prices to be less powerful than previously forecast, he said the overall demand backdrop remains constructive.

He raised his forecast for NAND bit demand growth to 23% this year and 26% in 2027.

Together, the developments suggest that the AI infrastructure boom is continuing to support a broad section of the memory industry, with tight supply and strong data-centre demand potentially keeping the market favourable for suppliers well into next year.

Key Takeaways PNC raised its 2026 NII growth outlook to 15-15.5% on strong Q2 momentum.PNC lifted its 2026 average loan growth forecast to 12.5%, led by commercial lending.A better deposit mix and higher-yielding securities are supporting PNC's spread income outlook. The PNC Financial Services Group, Inc.’s (PNC - Free Report) net interest income (NII) outlook for 2026 has strengthened, supported by robust loan growth, an improving deposit mix and continued repricing of fixed-rate assets. Following the solid second-quarter results, management raised its full-year NII growth guidance to 15-15.5% from the earlier mentioned 14.5%, based on the 2025 NII baseline of $14.41 billion.

PNC’s second-quarter performance highlights the momentum behind the improved outlook. NII reached $4.11 billion, increasing 16% year over year. The net interest margin (NIM) also moved up to 2.96% from 2.95% in the preceding quarter and 2.80% a year earlier.

A key driver is strong loan growth, particularly in commercial and industrial lending. Average loans rose 4% sequentially and 13% year over year to $363.2 billion in the second quarter. Management consequently raised its 2026 average loan growth forecast to 12.5% from 11%.

Deposit trends are another tailwind. While total average deposits were essentially stable sequentially, non-interest-bearing deposits increased 4%, while the rate paid on interest-bearing deposits declined five basis points. This favorable shift in funding mix is helping offset pressure from lower loan yields and supporting spread income. PNC should also benefit from fixed-rate asset repricing. During the second quarter, the company sold roughly $4 billion of securities and reinvested the proceeds into securities yielding about 120 basis points more, enhancing the prospective earnings contribution from the investment portfolio.

The FirstBank acquisition has expanded PNC’s loan and deposit base. The transaction added roughly $16 billion in loans and $23 billion in deposits at closing, providing additional scale and opportunities to deepen customer relationships.

Near-term momentum remains encouraging, with management expecting third-quarter NII to increase 3-3.5% sequentially. Overall, robust commercial lending, a healthier funding mix and asset repricing appear well-positioned to keep PNC’s NII trajectory positive through the remainder of 2026, though elevated expenses and funding needs remain factors to watch.

PNC’s Peers 2026 ExpectationsWells Fargo (WFC - Free Report) and Citigroup (C - Free Report) also expect their NII to grow in 2026.

Wells Fargo expects NII to be $50 billion. NII excluding Markets is projected to be $48 billion, driven by balance-sheet growth, a favorable loan and deposit mix and continued fixed-asset repricing, partially offset by the impacts of expected rate cuts. 

Citigroup expects NII (excluding Markets) to increase 5-6% on a year-over-year basis in 2026, supported by stabilizing deposit costs and disciplined balance-sheet management. The outlook reflects the bank’s efforts to benefit from a more favorable rate and funding environment while continuing to reshape its business toward higher-quality growth.

PNC Financial Price Performance & Zacks RankShares of PNC have surged 31.4% over the past year compared with the industry’s growth of 26.3%.

Price Performance

Image Source: Zacks Investment Research

Currently, PNC Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Barrick posted adjusted EPS of 82 cents, up 74% year over year and above estimates. Gold production was flat, but realized gold prices rose 34% to $4,417 per ounce. Barrick cut 2026 capital spending guidance to $3.8-$4.2 billion from $4-$4.45 billion. Barrick Mining Corporation (B - Free Report) recorded profits (on a reported basis) of $1,217 million or 73 cents per share for second-quarter 2026, up 50% from $811 million or 47 cents per share in the year-ago quarter.

Barring one-time items, adjusted earnings per share were 82 cents. The figure beat the Zacks Consensus Estimate of 81 cents and increased around 74% year over year.

Barrick recorded total sales of $5,292 million, up 44% year over year. The top line surpassed the Zacks Consensus Estimate of $4,487.7 million.

Barrick Mining Corporation Price, Consensus and EPS SurpriseB’s Operational HighlightsTotal gold production was 796,000 ounces in the reported quarter, essentially flat year over year compared with 797,000 ounces. The metric beat the consensus estimate of 764,000 ounces. The average realized price of gold was $4,417 per ounce in the quarter, up around 34%.

The cost of sales increased around 20% year over year to $1,993 per ounce. All-in-sustaining costs (AISC) rose around 11% to $1,866 per ounce in the quarter. 

B’s Financial PositionAt the end of the quarter, Barrick had cash and cash equivalents of $5,927 million, up 23% from the prior-year quarter. The company’s total debt was $4,682 million at the end of the quarter, down around 1% year over year.

The operating cash flow was $1.7 billion for the quarter, up 28% year over year, whereas the free cash flow was $515 million, up 30%.

B’s GuidanceFor 2026, Barrick continues to anticipate attributable gold production in the range of 2.9-3.25 million ounces. The company reduced total attributable capital expenditure guidance to $3.8-$4.2 billion from $4-$4.45 billion previously. 

AISC is projected at $1,760-$1,950 per ounce for 2026. Cash costs per ounce are forecast to be $1,330-$1,470. The company also expects cost of sales of $1,870-$2,070 per ounce.

Barrick expects copper production of 190,000-220,000 tons at AISC of $3.45-$3.75 per pound, C1 cash costs of $2.20-$2.45 per pound and cost of sales of $3.05-$3.35 per pound for 2026.

B’s Price PerformanceBarrick’s shares have gained 68.2% in the past year compared with the 51.1% rise of the industry.

Image Source: Zacks Investment Research

B’s Zacks Rank & Other Mining ReleasesB currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Newmont Corporation (NEM - Free Report) reported second-quarter adjusted earnings of $2.10 per share, up 46.9% from $1.43 reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $2.05. Newmont remains on track to achieve its previously announced 2026 guidance. NEM expects attributable gold production of approximately 5.26 million ounces.  

Kinross Gold Corporation (KGC - Free Report) reported adjusted earnings of 71 cents per share for the second quarter, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents by 7.6%. Kinross remains on track to meet its 2026 annual guidance. KGC expects attributable production of 2 million gold-equivalent ounces (+/- 5%). 

Agnico Eagle Mines Limited (AEM - Free Report) reported second-quarter adjusted earnings of $3.05 per share, up 57.2% from $1.94 a year ago. The figure surpassed the Zacks Consensus Estimate of $2.89. For full-year 2026, AEM expects gold production near the lower end of its guidance of 3.3 million to 3.5 million ounces, reflecting the preliminary redesign of the Barnat open pit at Canadian Malartic.

Marvell Technology stock has slumped since June 18 as investors dumped popular semiconductor companies. After peaking at $329, it has now plunged by 35% to the current $217, with its valuation falling from $277 billion to the current $185 billion. This price action may continue in the near term as investors focus on the upcoming earnings on August 27.

MRVL stock has been under pressure in the past few months, mirroring the performance of other top companies in the semiconductor industry. 

For example, the iShares Semiconductor Sector Index Fund (SOXX) has dropped by over 18% from the year-to-date high. The VanEck Semiconductor ETF (SMH) has dropped from a high of $671 to $572. 

The retreat happened as investors booked profits after the industry staged a strong rally amid the ongoing AI boom. This retreat has faded after most companies in the tech industry, including its customers, released strong results and committed to more spending. 

The next main catalyst for the MRVL stock will be its earnings, which are expected to come in on August 27. Its most recent results revealed that its revenue jumped by 28% in the first quarter to $2.4 billion, with its data center segment contributing $1.8 billion. Its communications segment brought in $585 million. 

The management believes that its AI business will drive growth through FY’28, with demand for its solutions continuing seeing strong demand. As a result, the company’s guidance for the upcoming earnings is expected to grow by 35% to $2.7 billion. 

For the year, it expects that its data center revenue will soar by 50%, with its FY’28 revenue being $16.5 billion. This growth explains why Nvidia made a big investment in the company, with Jensen Huang arguing that it will be the next $1 trillion company. 

In addition to Huang, other top analysts are highly bullish on the company. KeyCorp’s John Vinh boosted the target from $385 to $400, while RBC’s Srini Pajjuri hiked his target to $360. The consensus estimate among analysts is that it will hit $245, up by 15% from the current level.

The main concern among analysts is that the company has become highly overvalued, which may affect its upside. It trades at a forward price-to-earnings ratio of 52.41, much higher than the sector median of 23. It is also higher than that of other top companies like Nvidia, Micron, and Western Digital.

MRVL stock chart | Source: TradingView

The daily chart shows that the MRVL stock has rebounded after bottoming at $162.93, its lowest level on June 29. Its lowest level coincided with the 200-day Exponential Moving Average (EMA) and the 61.8% Fibonacci Retracement level.

There are signs that the stock has formed an inverted head-and-shoulders pattern, a common bullish reversal sign. Therefore, the stock will likely continue rising as bulls attempt to fill the fair value gap that formed on June 1. A drop below the support level of $162 will invalidate the bullish view.

Ondo Targets a 20-Year-Old Market Rule@OndoFinance has written to the U.S. Securities and Exchange Commission this week, formally requesting the repeal of Rule 611 of Regulation NMS, the regulation commonly known as the Trade-Through Rule. The protocol argues the rule, which has been in place since 2005, is no longer fit for purpose and specifically prevents tokenized and non-tokenized stocks from interacting directly within a single, unified market structure.

At its core, Rule 611, often referred to as the order protection rule or trade-through rule, was adopted in 2005 as the centerpiece of Regulation NMS. It generally requires trading centers to establish, maintain, and enforce policies and procedures reasonably designed to prevent executions at prices inferior to protected quotations displayed by other trading centers. Ondo contends that this framework creates an uneven playing field that makes request-for-quote (RFQ) pricing for tokenized equities unworkable.

Ondo's Broader Push Into Regulated Tokenized EquitiesThe letter to the SEC is part of a wider regulatory campaign by Ondo. Earlier in 2026, Ondo launched over 200 tokenized U.S. stocks and ETFs on Solana, providing blockchain-based exposure through Jupiter's RFQ system with just-in-time minting during regular trading hours. The firm has also been building out its regulated infrastructure: Ondo Finance's SEC-registered broker-dealer subsidiary, Oasis Pro Markets, has secured regulatory authorization to offer tokenized equities and funds to U.S. investors under SEC and FINRA oversight.

Ondo's call for reform lands at a receptive moment in Washington. On June 11, 2026, the SEC proposed rescinding Rule 611 and Rule 610(e), which have been central components of Regulation NMS since 2005. The proposal is grounded in the SEC's assessment that changes in market structure, including increased exchange competition, technological developments, and evolving trading practices, warrant reconsideration of the current regulatory framework. The SEC's proposal would represent one of the most significant changes to U.S. equity market structure since the adoption of Regulation NMS.

For Ondo, the stakes are clear. The firm's proposal requests the creation of equal execution conditions that would allow RFQ pricing to function for tokenized stocks alongside their traditional counterparts. While regulatory approvals are broadening access to tokenized securities, the expansion also highlights challenges associated with integrating traditional financial assets with blockchain infrastructure, including risks such as smart contract vulnerabilities, liquidity constraints, and evolving regulatory requirements.

Sources:
WilmerHale: The SEC Takes Aim at the Trade-Through Rule
SEC Fact Sheet: Regulation NMS Reforms
Crypto Times: Ondo's Oasis Pro Gets SEC, FINRA Nod for Tokenized Stocks

Kontoor Brands (KTB - Free Report) came out with quarterly earnings of $1.5 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $1.21 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +41.51%. A quarter ago, it was expected that this maker of Wrangler and Lee apparel would post earnings of $1.17 per share when it actually produced earnings of $1.55, delivering a surprise of +32.48%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Kontoor, which belongs to the Zacks Textile - Apparel industry, posted revenues of $584.29 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.01%. This compares to year-ago revenues of $658.26 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Kontoor shares have added about 22.7% since the beginning of the year versus the S&P 500's gain of 12.9%.

What's Next for Kontoor?While Kontoor has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Kontoor was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.27 on $693.66 million in revenues for the coming quarter and $5.22 on $2.7 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Textile - Apparel is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Lululemon (LULU - Free Report) , has yet to report results for the quarter ended July 2026.

This athletic apparel maker is expected to post quarterly earnings of $1.79 per share in its upcoming report, which represents a year-over-year change of -42.3%. The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level.

Lululemon's revenues are expected to be $2.47 billion, down 2.3% from the year-ago quarter.

Hyperliquid just gave its native token standard a feature that traditional finance has had for decades but crypto has largely lacked: the ability to cleanly split, redenominate, and proportionally adjust token balances without breaking everything in the process.

The upgrade introduces a deployer-controlled scaleWei function to the HIP-1 token standard, allowing atomic proportional balance transfers across all holders of a given token. Think of it as the on-chain equivalent of a stock split, except it also handles airdrops, dividends, repricing, and reverse splits, all executed in a single atomic operation on Hyperliquid’s Layer-1 blockchain.

What scaleWei actually does The scaleWei function sidesteps the traditional migration mess entirely. When a deployer triggers it, every balance of the referenced HIP-1 token gets scaled proportionally in a single atomic transaction. No migration contracts, no user action required, no liquidity fragmentation.

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Critically, open orders on Hyperliquid’s exchange are also automatically adjusted when the scaling action references the same token. That means a limit order sitting on the book doesn’t suddenly become nonsensical after a 2-for-1 split. The order’s size and price parameters get recalibrated to reflect the new denomination.

Who controls the lever Access to the scaleWei function is restricted to two categories: system addresses and signed vaults. In practical terms, this means only the original deployer of a HIP-1 token, or an authorized vault structure, can trigger a balance scaling event.

The function builds on HIP-1’s existing parameter set, which already includes weiDecimals, szDecimals, maxSupply, and genesis distribution mechanics. HIP-1 itself remains a capped-supply fungible token standard native to Hyperliquid’s L1, meaning these tokens aren’t ERC-20s living on Ethereum. They’re first-class citizens of Hyperliquid’s own chain, with the exchange’s order book integrated at the protocol level.

The RWA play becomes more obvious Recent equity-related spot listings on the platform have already signaled the direction of Hyperliquid’s positioning toward tokenized real-world assets. With scaleWei, a deployer managing a tokenized equity on Hyperliquid can now execute a proportional distribution, like a dividend paid in the same token, by simply scaling all balances upward. A reverse split works the same way in the opposite direction. The atomic nature of the operation means there’s no window where some holders have been adjusted and others haven’t.

Where this fits in the broader upgrade timeline The scaleWei addition is part of a broader sequence of protocol enhancements. The platform’s upgrade path has included HIP-1 through HIP-4, each addressing different aspects of the protocol’s functionality. HIP-1 established the foundational capped-supply fungible token standard, while subsequent proposals have layered on additional features including liquidity bootstrapping, permissionless perpetual market creation, and prediction markets.

The initial market response has been muted, with no significant price movement on the back of the announcement.

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

Key Takeaways Omnicell shares fell 20.1% in four weeks as booking, margin and refresh-cycle risks weighed on the outlook. OMCL expects $6 million in added memory-chip costs, pressuring product and consolidated gross margins.Omnicell cut recurring-revenue guidance as some consumables opportunities are taking longer to develop. Omnicell, Inc. (OMCL - Free Report) shares have fallen 20.1% in the past four weeks, sharpening the debate over whether the pullback has improved the risk-reward setup or reflects pressures that may persist.

The central tension is clear. Omnicell has raised its 2026 profit outlook, but bookings timing, recurring-revenue growth, component costs and the pace of its product refresh remain less predictable.

OMCL’s Earnings Strength Comes With a CaveatSecond-quarter 2026 adjusted earnings were 94 cents per share, up 108.9% year over year and 95.8% above the Zacks Consensus Estimate. Revenues increased 7.4% to $312.2 million and topped the consensus mark by 0.8%.

Per the Zacks Consensus Estimate, OMCL’s 2026 earnings and revenue is pegged at $2.09 and $1.24 billion, respectively. 

Image Source: Zacks Investment Research

The quarter also benefited from a one-time $15 million tariff refund. Excluding that benefit, non-GAAP EBITDA would have been $52 million, still above the midpoint of prior guidance. Omnicell raised full-year non-GAAP EPS guidance to $2.15-$2.30 and non-GAAP EBITDA guidance to $175-$185 million.

Omnicell Faces New Pressure on Product MarginsMemory-chip supply-demand imbalances are creating a new cost headwind. Omnicell expects about $6 million of incremental memory-chip costs in the second half of 2026, roughly five times the level anticipated at the beginning of the year.

The company expects those costs to reduce full-year consolidated gross margin by about 50 basis points and product gross margin by roughly 80 basis points. With the tariff refund not recurring, continued component inflation or supply constraints could limit further margin expansion.

OMCL’s Booking Visibility Has WeakenedOmnicell widened full-year product-bookings guidance to $425-$560 million as it reassessed the timing of medium-sized and large hospital transactions. Large automation projects can require broad approvals and take multiple quarters or years to close.

Year-end 2026 annual recurring revenue guidance was reduced to $660-$680 million because some consumables opportunities are taking longer to develop. The slower timing matters because recurring revenue is intended to make Omnicell’s business mix more predictable.

Omnicell’s Refresh Cycle Could Take LongerTitan XT remains scheduled to ship in the second half of 2026, but the current XT installed base is younger than the G Series base was during the prior transition. That could reduce replacement urgency even as customers evaluate the new platform.

Competition adds another variable. Becton, Dickinson and Company (BDX) markets BD Pyxis medication-management and automated dispensing systems for health systems, while McKesson Corporation (MCK) offers pharmacy-automation technologies for dispensing, packaging and workflow efficiency. Omnicell is entering a major refresh period while customers are making broad platform comparisons.

OMCL’s Valuation Offers a Potential CounterweightOMCL trades at 1.33X forward 12-month sales, below its five-year median of 1.74X. The multiple is also below the Zacks Medical sector’s 2.24X and the Medical Info Systems sub-industry’s 5.58X.

Image Source: Zacks Investment Research

The discount provides some valuation support, but it does not remove execution risk. A more durable recovery would depend on bookings converting to deployments, recurring revenue improving and the Titan XT refresh translating into revenue over time.

OMCL’s Ratings Still Signal Near-Term CautionThe recent decline has made OMCL less expensive on a sales basis, while the higher 2026 earnings outlook provides an operating offset. Booking uncertainty, memory-chip inflation and refresh-cycle timing still leave the near-term setup unsettled.

OMCL currently carries a Zacks Rank #5 (Strong Sell). Its Growth Score of A, Value Score of B, Momentum Score of B and VGM Score of A indicate favorable characteristics across several investment styles, but the Zacks Rank remains the more important short-term signal because it reflects earnings-estimate revision trends. That combination argues for caution despite the stronger Style Scores.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Murphy USA posted Q2 earnings 53.1% higher year over year, topping estimates by 19.9%.MUSA's fuel margins and nicotine gains strengthen its core model, while same-store fuel volume rose 0.5%.MUSA plans roughly $475-$525 million in 2026 capital spending as it targets more than 50 stores annually. Murphy USA Inc. (MUSA - Free Report) combines strong earnings momentum, favorable fuel economics and a growing store base. The Zacks Consensus Estimate calls for 2026 earnings of $36.53 per share versus $24.10 in 2025, while the estimate has risen 3.9% over the past four weeks.

The trade-off is valuation. MUSA commands a premium to several industry benchmarks as merchandise demand remains uneven, debt is elevated and expansion requires substantial capital.

MUSA’s Earnings Momentum Supports the Bull CaseSecond-quarter 2026 earnings of $11.27 per share topped the Zacks Consensus Estimate of $9.40 by 19.9% and rose 53.1% year over year. Revenues of $6.81 billion also surpassed the consensus mark by 15.3%.

The Zacks Consensus Estimate for 2026 earnings is $36.53 per share and has moved 3.9% higher in the past four weeks, supporting favorable near-term profit expectations.

Fuel and Nicotine Strengthen MUSA’s Core ModelMurphy USA’s high-volume, low-cost model benefits from Walmart-adjacent locations and fuel-supply capabilities that provide a lower-cost source for roughly 50%-60% of retail volume. Second-quarter retail fuel margin increased to 35.1 cents per gallon from 29.2 cents a year earlier, while same-store fuel volumes rose 0.5%.

Image Source: Murphy USA Inc.

Nicotine adds another driver. Same-store nicotine sales and margins increased 2.4% and 4.6%, respectively, while nicotine-pouch unit volume more than doubled. Cigarette market share gained 50 basis points.

MUSA’s Growth Plan Requires Heavy CapitalManagement expects new-store additions to finish closer to 45 in 2026, with 37 stores under construction after June 30. Murphy USA is also pulling forward work on 2027 openings and investing in its land pipeline to support more than 50 stores annually over time.

Capital expenditures are expected near the high end of the $475-$525 million range, while share repurchases remain a major capital-allocation lever. New stores take about three years to reach full ramp, making execution and cash generation central to the growth case.

Valuation Makes the MUSA Trade-Off More ComplexMUSA trades at 9.91X trailing 12-month EV/EBITDA, above the Zacks sub-industry’s 5.32X, the Zacks sector’s 6X and its five-year median of 9.3X. That premium leaves less room for disappointment if fuel margins normalize or growth slows.

Image Source: Zacks Investment Research

Casey’s General Stores, Inc. (CASY - Free Report) operates a large convenience-store network combining fuel with grocery and prepared-food sales, making it a useful industry comparison. Valvoline Inc. (VVV - Free Report) , a retail automotive-services company with more than 2,000 service centers, offers another reference point for capital-driven retail growth.

What Could Change the Case for MUSABetter-than-expected fuel margins, sustained nicotine share gains and successful new-store ramping would strengthen the investment case. Management used a 35-cents-per-gallon all-in fuel-margin assumption for the second half after first-half margins averaged 37.9 cents.

Same-store non-nicotine sales fell 1.4% in the second quarter, and management expects full-year merchandise contribution near the low end of its $890-$900 million range. Long-term debt stood at about $2.17 billion at June 30, while competition continues to pressure volumes in Colorado and Florida.

MUSA’s Factor Scores Favor Quality Over UrgencyMUSA’s operating and estimate trends support a constructive view, but valuation and execution demands argue against chasing the shares. The stock currently carries a Zacks Rank #3 (Hold), a rating that can be appropriate for investors already holding the stock while waiting for a more attractive entry point.

The stock also has a VGM Score of A, Growth Score of A, Momentum Score of A and Value Score of B. These grades indicate favorable growth and momentum characteristics with solid value attributes, but Style Scores complement the Zacks Rank rather than replace it. The combination supports quality without signaling urgency. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It’s been five years since El Salvador became the first country to adopt Bitcoin as legal tender.

President Nayib Bukele announced the plan at the Bitcoin conference in Miami on June 5, 2021, to the jubilant cries and applause of the Bitcoin community, who hailed the tiny Central American nation as living proof that BTC could be sovereign money.

Bukele sold the experiment as a way to bank the unbanked, slash remittance costs, and attract investment to the impoverished nation.

But five years on, who did the experiment benefit, and what did it actually achieve?

Dr. Tobias Boos, a senior scientist at the University of Vienna who leads a research project examining the political economy of Bitcoin in El Salvador, tells Magazine:

“There is little doubt that the project was a failure if we take seriously the reasons Bukele gave for its adoption. Foreign direct investment in this sector didn’t increase, it did not effectively bank the unbanked, and it is not widely used for remittances.”Yet El Salvador’s Bitcoin bet undeniably changed the conversation around the world’s number-one cryptocurrency, and turned nation-state adoption from a theoretical possibility into a living, breathing reality. Whether it succeeded or failed depends on what you think El Salvador was trying to achieve.

Five years into El Salvador’s Bitcoin betIn a video message played at Bitcoin 2021, Bukele said the adoption of Bitcoin would generate jobs in the short term and “help provide financial inclusion to thousands outside the formal economy.”

Today, the evidence for mass adoption is difficult to square with that ambition.

Research by Boos, Grigera and Schmid in 2025 found that the Salvadorans who adopted Bitcoin tended to be young, male, urban, more highly educated, and, perhaps more importantly, already banked. Boos concludes that, “Mass adoption by citizens did not occur.”

El Salvador had one of the region’s lowest levels of banking access at the time, with just 35.9% of people over 15 holding a bank account in 2021, according to World Bank data.

Account ownership at a financial institution (% of population ages 15+) - El Salvador. Source: World Bank

Yet the government’s Chivo Bitcoin wallet did little to solve the problem: it could transfer funds to bank accounts, but didn’t remove the underlying barriers preventing unbanked Salvadorans from accessing the financial system in the first place.

According to Boos and his colleagues, the same problem emerged with remittances, another pillar of Bukele’s pitch. In 2024, remittances accounted for around 24% of El Salvador’s gross domestic product, with the United States providing a full 98% of the total. But El Salvador adopted USD as its official currency more than 20 years ago, and having most remittances arrive from a country with the same currency removed one of the major cost reductions that Bitcoin could theoretically offer: currency conversion.

Despite the promise that Bitcoin could make these transfers cheaper, crypto wallets accounted for barely 1% of remittances by 2024, down from a peak of 1.7% in 2020-21.

It suggests the government’s early efforts to stimulate adoption failed to translate into sustained use. Chivo offered users $30 in Bitcoin for signing up, but the National Bureau of Economic Research’s nationally representative research found that more than 60% of early Chivo users never made another transaction after spending their free BTC.

Joe Nakamoto, a Bitcoin-focused journalist who has repeatedly reported from El Salvador, found a similar disconnect on the ground.

In a recent video documenting one of his visits, he said he tested Bitcoin acceptance at 21 shops in a San Salvador mall, and found that only four accepted Bitcoin, and just one did so smoothly. He tells Magazine:

“It’s very, very hard, borderline impossible to genuinely live on Bitcoin in El Salvador. Unless you’re just eating pupusas on the beach in El Zonte, and then going across to the other Bitcoin circular economies and finding workarounds.” When the IMF pulled the plugThe government has also faced international pressure to retreat from its Bitcoin experiment. In December 2024, it reached a $1.4 billion financing agreement with the International Monetary Fund, under which it agreed to scale back its involvement in Bitcoin.

El Salvador’s experiment with Bitcoin as Legal Tender. Source: NBER

The deal was approved in February 2025, and in January, the government amended its Bitcoin law to make acceptance voluntary, require taxes to be paid in US dollars and limit public sector involvement in Bitcoin-related activities, effectively dismantling the most radical parts of Bukele’s experiment.

While Bitcoin could still be used voluntarily, the state no longer compelled businesses to accept it or used it as part of the country’s public financial system.

The IMF later found that Bitcoin had produced “no evidence” of a beneficial use case for the unbanked and had had minimal impact on financial inclusion. Boos says:

“The ‘soft adoption,’ as we refer to it in one of our articles, never led to mass adoption for payments. I am not aware of any instances where tax payments were made using Bitcoin, and the infrastructure has largely remained unused.” What Bitcoin actually did achieveIf El Salvador failed to turn Bitcoin into everyday money, it still managed something no country had done before: it made nation-state Bitcoin adoption real.

Before 2021, the idea of a government adopting Bitcoin was still largely hypothetical; El Salvador made it real. As Samson Mow, chief executive of Bitcoin infrastructure firm JAN3, tells Magazine:

“The question in front of every president or finance minister shifted from whether a sovereign could hold Bitcoin to why it hadn’t.” The experiment also thrust El Salvador into the center of the global Bitcoin movement, with many prominent Bitcoiners, including Max Keiser and Stacy Herbert, making Bitcoin country their new home. Herbert later became director of El Salvador’s National Bitcoin Office, showing just how closely intertwined parts of the Bitcoin movement have become with the government.

Bitcoin Beach, the grassroots project in El Zonte that predated the national experiment, is still one of the clearest examples of a functioning Bitcoin economy, with local businesses, hotels and tourism operators continuing to accept Bitcoin, even after the government made acceptance voluntary.

Nakamoto’s reporting has also documented several concrete success stories for everyday Salvadorans, including Mama Rosa, who saves Bitcoin from her pupusa stand, and Napo, who expanded from one taxi to a fleet.

Bukele’s government even went further than simply holding BTC on its balance sheet or making it legal tender by promoting plans for Volcano Bonds and Bitcoin City.

After repeated delays, the IMF agreement effectively kneecapped those projects’ progress, but the symbolic impact still matters. Mow explains:

“Bitcoin gained a proof of concept, and El Salvador gained a global platform.” There’s also an important distinction between what El Salvador achieved for Bitcoin and what Bitcoin achieved for El Salvador.

Boos argues that the symbolic significance has largely been “for” the international Bitcoin community, rather than evidence of economic success “in” El Salvador. Nakamoto says:

“It looks more like a marketing campaign for foreigners than a genuine economic strategy for Salvadorans. It’s beautiful branding, pointed at people with the passports and the capital. Bukele is a razor-sharp operator. He knows exactly who’s watching and who’s clapping. The Bitcoin country strategy, it’s not for them. It breaks my heart to say it, but it’s for us.” The uncomfortable part: Bitcoin and BukelePerhaps the hardest question is what El Salvador’s Bitcoin experiment says about the relationship between Bitcoiners’ ideals of individual freedom and the government that imposed it.

IMF Executive Board approves 40-month fund facility. Source: IMF

Bukele has concentrated power during his time in office, and the state of emergency introduced to combat gang violence in March 2022 remains in place more than four years later.

Human Rights Watch says the government has continued to remove checks on executive power, and local and international human rights groups have documented mass arbitrary detention and due process violations under the state of emergency.

But judging Bukele only through that lens risks missing why he remains so popular at home. El Salvador was once in the grip of powerful gangs, with many Salvadorans living with daily threats of extortion, violence and death. The official homicide rate fell from 53.1 per 100,000 people the year he took office, to just 1.3 per 100,000 in 2025.

Bukele’s crackdown has transformed public security, and many Salvadorans view the trade-off between security and civil liberties very differently from critics abroad. Nakamoto says:

“It’s a country that has serious scars. Bukele has saved the nation in many ways. He kicked out the gangs and also he has done wonderful things for Bitcoin in terms of putting it on the world map.” While Mow acknowledges the positive impact of Bukele’s gang crackdown, he says the broader implications of normalizing emergency powers cannot be ignored:

“In the hands of someone with restraint, those same powers can accomplish real things, like El Salvador’s crackdown on the gangs. But it’s important to think ahead. What serves a leader with restraint today can just as easily serve one without restraint once there’s a change of guard.”For Bitcoiners, that leaves an uncomfortable tension. El Salvador’s Bitcoin experiment has become inseparable from the government that made it possible, and from a president whose record is far more complicated than the Bitcoin success story alone suggests.

That may ultimately be the most difficult part of assessing El Salvador five years on: Bitcoin gave Bukele a global platform, and Bukele gave Bitcoin something it had never had before — a nation-state willing to put it at the center of its economic strategy.

Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?

Cointelegraph publishes long-form journalism, analysis and narrative reporting produced by Cointelegraph’s in-house editorial team with subject-matter expertise. All articles are edited and reviewed by Cointelegraph editors in line with our editorial standards. Some articles contain affiliate links, from which Cointelegraph may earn a commission. These relationships do not influence which products we review or our editorial conclusions. Content published in here does not constitute financial, legal or investment advice. Readers should conduct their own research and consult qualified professionals where appropriate. Cointelegraph maintains full editorial independence.

3 hrs ago

3 min read

The Department of Labor Statistics is due to release July inflation data. (Department of Labor)Summary

This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.

Wednesday’s big story is XRP (XRP), the payments-focused cryptocurrency. Not only did a bridge linking to the XRP Ledger experience an exploit early today, but the token price also hovers near a level that, if breached, could embolden bears.

That level is $1. Prices briefly fell to 99 cents on some exchanges on Tuesday and, while they quickly recovered, the bounce looked to have stalled near $1.02. XRP has lagged behind bitcoin and the broader market recovery in recent days.

What’s more, open interest in XRP futures has risen to 2.67 billion XRP ($2.73 billion), the most since October, from 2.25 billion XRP at the start of the month. This buildup of leverage while XRP trades at this price points to potential volatility.

That means XRP is more vulnerable than other major cryptocurrencies such as bitcoin BTC$63,704.66, ether ETH$1,893.43 and solana (SOL) to the U.S. CPI release later today. A hotter-than-forecast reading would strengthen bets on Fed interest-rate increases and drive already-buoyant Treasury yields higher, creating headwinds for risk assets.

Forecasts point to 0.1% month-on-month growth in the headline CPI for July, up from June’s –0.4% reading. The year-on-year figure is expected at 3.4%, down from 3.5%, and annual core CPI inflation is seen dropping to 2.5% from 2.6%.

According to ING, a softer-than-expected print could weaken the dollar, an outcome that could bode well for the crypto market.

In bitcoin’s case, traders are hoping the report will push the price out of its recent trading range of $62,000 to $66,000. However, the way BTC options are currently priced suggests low expectations for CPI-driven fireworks.

Markus Thielen, founder of 10x Research, said the market is pricing a post-CPI swing of just 1.3%, which is nothing out of the ordinary.

Data tracking website Laevitas made a similar observation: “7d ATM IV [implied volatility] has compressed to 29.1v on BTC and 41.2v on ETH even as a binary July print lands inside the weekly window, so the term structure is declining to price the event risk that sits directly on the tape,” Laevitas said on X.

The fact that expectations remain low could be just the setup for markets to be surprised into action by a potential big beat or miss in the inflation figures. Stay alert!

Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."

What’s trendingOne overlooked group has added $1.78 billion of selling pressure to bitcoin market (CoinDesk): Bitcoin’s 27% price slide this year isn’t just about ETFs and digital asset treasuries. Public miners have been an under-recognized supply source hitting the market right at the margin.XRP bridge drained for $200,000 after software mistook fake deposits for real ones (CoinDesk): An XRP bridge lost nearly 200,000 XRP, worth about $200,000 at current prices, after a software flaw let an attacker claim deposits that were never made, then withdraw real tokens against the fake balances.Here's what bitcoin and ether traders are doing ahead of the binary U.S. CPI print (CoinDesk): If the July U.S. consumer price index is higher than expected, the Federal Reserve could go for a rate hike in September. Traders are positioning in different ways ahead of the data release. Some are buying upside exposure. Others are focusing on higher volatility.Today’s signalXRP's price chart. (TradingView)The chart shows XRP’s weekly price swings in candlestick format since 2023.

The token’s price peaked above $3.50 in July last year and has been declining ever since. It is now hovering close to $1. A drop under this level would be the first since November 2024, when Donald Trump won the presidential election.

In that case, the July 2023 high of 92 cents, where buyers ran out of steam, could now act as support on the way lower. If that level gives way, the next potential support is seen directly at around 50 cents.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Ethereum traded at $1,887 early Monday, holding above a critical support area despite a cautious overall market tone. The 24-hour trading volume reached $8.05 billion, and the network’s market capitalization now stands at $227.73 billion.

Key support zone holds steadyTechnical analysts noted that ETH has maintained stability within a major buying zone, with $1,720 to $1,780 acting as a floor for recent price swings. Over the last day, the price movement remained relatively muted, though attention focused on potential breakouts and accumulation patterns.

Crypto analyst Nehal stated that ETH’s structure remains bullish as long as it holds this key support zone. A decisive move above $1,875 resistance could open the door for a rally toward $2,200, especially if trading volume accelerates in tandem.

ETH is holding the $1,720–$1,780 buying zone. If support holds and price breaks above $1,875, the path could lead to $2,200 or more.

If the price falls below the support band, traders warn that bearish momentum could build and recovery prospects would weaken for the short term.

Given that a single Federal Reserve decision or a rapid-fire altcoin listing can quickly shift crypto sentiment, market participants are emphasizing streamlined monitoring. Some traders have shifted to privacy-centric tools like CryptoAppsy, which allow real-time charting, smart alerts, curated news, and macro data from a single dashboard without requiring an account. This consolidation aims to ensure traders act swiftly on critical market changes and avoid delays that can prove costly.

Whale accumulates $170 million in ETHOn-chain data provider Lookonchain reported that a wallet tagged as “0x2d59” acquired another 50,000 ETH, valued at $93.6 million, and promptly staked those coins. This purchase comes just a week after the same wallet acquired 40,000 ETH worth $76.66 million, bringing its recent ETH accumulation total to $170 million.

Lookonchain highlighted that whale 0x2d59, who bought 40,000 ETH for $76.66 million recently, added 50,000 more ETH, staking the entire amount.

By sending the tokens to staking, the whale is signaling little interest in selling in the short term. Some traders view this as a show of strong confidence in Ethereum’s long-term technical outlook, even as Bitcoin trends downward and puts pressure on major altcoins.

Staking activity at record highsEthereum staking has set a new milestone, with 41.9 million ETH now locked, up from 36 million at the beginning of 2026. However, recent staking inflows have slowed, with the last week seeing about 28,700 new ETH compared to earlier surges that topped 200,000. Approximately one-third of all ETH is currently staked on the network.

Developers are now considering EIP-8363, the Tapered Issuance Burn proposal, which would gradually reduce staking rewards as the staked ratio increases. If adopted, annual ETH issuance would decline to 0.8% near present staking rates and approach zero should staking reach 50% of circulating supply.

Meanwhile, BitMine, the publicly listed company with the largest ETH balance, holds 5.81 million coins, staking 87% of its holdings. At current reward levels, BitMine’s annual income from staking approaches $257 million, but the company could see future revenues fall if EIP-8363 is implemented. BitMine has not announced any plans to sell its staked ETH.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ethereum is generating more transactions than ever while earning less from each one. Average gas prices have cratered to around 0.5 gwei in early 2026, with some periods dipping as low as 0.15 gwei. For context, a gwei is a billionth of one ETH, meaning the cost of transacting on the world’s largest smart-contract platform has effectively become a rounding error.

The paradox of cheap success Ethereum’s scaling roadmap is working exactly as designed. The Dencun upgrade, which rolled out in 2024, dramatically reduced the cost of posting data from Layer 2 networks back to mainnet. The upcoming Fusaka upgrade, expected later this year, promises to push that efficiency even further.

Over a recent 30-day stretch, Ethereum pulled in roughly $10.3 million in transaction fees. That figure puts it behind both Tron and Solana. Ethereum’s blocks are filling to only about 62% capacity on average, which means the network isn’t even close to the congestion levels that historically drove fees higher.

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The practical consequence: less ETH gets burned. When burn rates fall below new issuance, supply expands rather than contracts.

Stablecoins are heading for the exits USDT recorded more than $7 billion in net outflows on Ethereum during Q1 2026. In April 2026, stablecoin transfer volume on the network plunged 42.6% in a single week, even as raw transaction counts surged 41% over the same period.

Ethereum still hosts around $162 billion in stablecoins as of March 2026, roughly 52% of the global supply. But dominance measured in stock doesn’t tell the whole story when the flow is negative.

Historical patterns point to consolidation CryptoQuant analysts have flagged that the combination of low network activity and stablecoin outflows has historically preceded periods of price stabilization rather than sharp moves in either direction.

The deeper structural question is whether Ethereum’s Layer 2 strategy is creating a value-leak problem. Layer 2 networks like Arbitrum, Optimism, and Base process millions of transactions daily at negligible cost, but the economic value that once flowed to ETH holders through burns and validator tips increasingly stays within the L2 ecosystem instead.

Some industry voices have emphasized the urgent need for improved mainnet throughput to recapture higher-value settlement activity. The logic: if Ethereum’s base layer can handle more complex, high-value transactions natively, it doesn’t need to rely on Layer 2 networks for scale, and it can retain more of the fee revenue.

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

TLDR The USDT stablecoin issuer acquired approximately 27 metric tons of gold during H1 2026, equaling Kazakhstan’s central bank accumulation The precious metal climbed 0.7% to roughly $4,400 per ounce in anticipation of U.S. inflation figures According to Jefferies research, Tether has emerged as “a meaningful source of incremental physical gold demand” The People’s Bank of China extended its gold buying streak to 21 consecutive months in July, purchasing approximately 640,000 troy ounces The yellow metal confronts critical resistance between $4,460 and $4,495, with analysts eyeing $5,000 as the subsequent major milestone The precious metals market is experiencing upward momentum, driven significantly by an unexpected cryptocurrency player and China’s persistent accumulation strategy.

The stablecoin giant behind USDT accumulated over 27 metric tons of the precious metal during the initial six months of 2026. This volume places the company alongside Kazakhstan in the rankings, trailing only Poland, Uzbekistan, and China among the year’s most significant institutional purchasers.

🔥Tether has quietly become one of the world's largest gold buyers:

Tether's gold reserves have increased by ~85 metric tons since Q1 2025, a larger increase than those of Uzbekistan, China, Brazil, or Kazakhstan.

TAP IMAGE TO SEE FULL INSIGHT👇https://t.co/dt5dUkeNoF

— Global Markets Investor (@GlobalMktObserv) August 12, 2026

The rationale behind Tether’s gold acquisitions mirrors traditional central bank strategies. The company seeks portfolio diversification while creating a buffer against inflationary pressures and U.S. dollar depreciation. Given that USDT maintains a peg to the greenback, currency weakness presents direct operational risks.

Research from Jefferies indicates that Tether’s purchasing activity has contributed to the precious metal’s summer rally. Current trading levels hover around $4,420 per ounce, representing approximately 12% appreciation from the early July trough near $4,000.

“Tether is no longer a niche participant, but a meaningful source of incremental physical gold demand,” the Jefferies analysts wrote.

Beyond physical holdings, Tether operates a blockchain-based gold product called Tether Gold, which digitizes ownership rights to physical bullion. The firm’s Q2 Tether Gold reserves increased 9.5% compared to Q1 levels.

According to CEO Paolo Ardoino, investors aren’t simply chasing price appreciation. Instead, they’re strategically accumulating during market corrections through an instrument that offers “fully backed, transparent, portable, and accessible on-chain” exposure.

Precious Metal Gains Momentum Before Critical Inflation Release Spot gold advanced 0.7% to approximately $4,400 per ounce Wednesday as market participants positioned ahead of the Consumer Price Index announcement. The inflation data will likely influence Federal Reserve policy direction.

Interest rate swap markets currently price in roughly even odds for a 25-basis-point rate increase in September. Lower-than-expected inflation could reduce pressure for tightening, whereas elevated readings might strengthen hawkish expectations.

Saxo Bank strategists noted that market participants are monitoring whether the rally above $4,200 possesses sufficient strength to test resistance near $4,460 and the 200-day moving average around $4,495. Clearing these technical barriers could establish a trajectory toward $5,000.

Exchange-traded fund flows into gold products have maintained momentum for five consecutive sessions, elevating aggregate holdings to their highest point in six weeks.

Middle East Instability and Persistent Chinese Demand Bolster Prices Escalating friction surrounding the Strait of Hormuz continues affecting energy markets while providing underlying support for safe-haven assets. Iranian officials maintain the critical shipping lane will remain blocked until Washington removes restrictions on Iranian port access. Elevated energy costs could accelerate inflation, potentially constraining the Fed’s flexibility on rate cuts.

The People’s Bank of China maintained its unbroken purchasing pattern in July, marking the 21st consecutive month of additions and lifting total reserves to 76.08 million ounces. Chinese gold-backed exchange-traded products similarly continued drawing capital inflows.

Tether’s gold accumulation strategy persists despite Bitcoin declining over 25% year-to-date, while Ethereum and Solana have each dropped nearly 40%.

Producer price index data scheduled for Thursday will provide markets with additional inflation insights ahead of the Federal Reserve’s upcoming policy meeting.

TL;DRAvengerDAO offers a suite of readily available services offered by participating ecosystem security firms and tools to protect BNB chain users. The core security services include Marketplace, 5-pillar Security Standard and Bug Bounty. 11 security firms are already on board, handpicked by the BNB Chain security team.Projects can contact a partner directly, or ask AvengerDAO's admin team for help. No application needed.Three Years of Falling LossesBNB Chain's security numbers have moved in the right direction for three years straight. Losses fell 85% in 2023, another 69% in 2024, and 56% again in 2025, as AvengerDAO's network of risk scoring, threat alerts, and partner firms caught more threats before they caused damage.

AvengerDAO has anchored that progress since it launched as BNB Chain's security initiative. Now it's expanding into something bigger: a marketplace that gives every BNB Chain project, not just the well-funded ones, access to the same security firms and a shared standard to build against.

What's Actually ChangingAvengerDAO already does real work. Its risk-scoring API feeds threat alerts and contract ratings straight into BscScan and partner wallets, and its member firms served over 38 million risk warnings across platforms like TrustWallet and PancakeSwap in 2023 alone, helping recover $7.3 million from incidents that year.

The relaunch builds on that. Instead of one shared risk feed, projects now get a directory of security firms, each offering its own tools and services, plus a standard every BNB Chain project can build against. 11 security firms are already part of it, handpicked by the BNB Chain security team for their track record on BNB Chain and beyond.

Three Pillars of SecurityAvengerDAO now runs on three pillars designed to give builders a clearer path to stronger security, from development through launch and beyond.

Security Marketplace: Find the Right Security SupportThe AvengerDAO Security Marketplace brings security services and tools from 11 firms into one place.

Builders can compare what each firm offers and contact them directly, without going through an AvengerDAO application process. Teams that are unsure what they need can also ask the AvengerDAO admin team for guidance.

BNB-SS gives builders a practical framework for what good security should look like across five areas:

GovernanceAccess controlOracle integrationsSecure developmentBridge securityInstead of figuring out security requirements from scratch, teams can build against a shared checklist and complete a compliance review. Projects that pass can receive an official BNB-SS security badge. The badge is not a guarantee of safety, but it gives builders a clearer benchmark to work toward and users a stronger signal that core security practices have been reviewed.

Bug Bounty: Keep Testing After LaunchThe AvengerDAO Bug Bounty program gives researchers a direct channel to report vulnerabilities, with rewards based on severity.

For builders, that means security does not stop at an audit or launch. There is an ongoing incentive for researchers to find issues before attackers do.

Together, the three pillars give builders a more practical security path: find the right expertise, build against a clear standard, and keep testing after launch.

Launching on BNB Chain? Start HereIf you're launching on BNB Chain, "get security-ready" now has a starting point. You don't need an existing relationship with an audit firm or a budget for a full audit to get help. The BNB-SS checklist gives you something concrete to check yourself against, and the admin team is there if you get stuck.

For teams that already work with one of the 11 partner firms, nothing about that relationship changes. AvengerDAO doesn't sit between you and your auditor.

For Users: What the Badge MeansThe badge is the visible part. A project that's passed BNB-SS compliance carries a signal that its contracts, bridges, governance, and admin keys have been checked against a real standard, not just self-reported. It doesn't guarantee a project won't fail. No badge does. But it raises the floor for what launching on BNB Chain means, building on a trend that's already three years in the making.

What’s NextA pre-launch security review service is in the works and will be announced separately when it's ready. For now, the marketplace and BNB-SS are the two pieces going live.

Join the BNB Security MarketplaceThe full partner list, the BNB-SS checklist, and how to reach the admin team here.

From Wall Street to Cross-Border BankingChainlink is cementing its position as the backbone of institutional blockchain infrastructure, with a string of high-profile partnerships pointing to growing adoption across traditional finance and crypto-native platforms alike.

The most prominent recent milestone involves the Depository Trust and Clearing Corporation (DTCC). On July 15, 2026, DTCC announced the successful completion of its first live production trades involving tokenized U.S. securities. The driving force behind the trades was Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Runtime Environment (CRE). J.P. Morgan used tokenized shares of the Invesco QQQ Trust ETF as collateral for its margin requirements with CME Group. The initiative involved over 30 major financial institutions, including BlackRock, J.P. Morgan, Goldman Sachs, and Vanguard. DTCC plans a separate tokenization service launch in October.

Project Pangea and Broader Platform AdoptionOn the FX side, Chainlink has moved into cross-border settlement at scale. Chainlink and a multinational consortium of more than 50 banks across 16 countries launched Project Pangea, targeting real-time atomic settlement for the $9.6 trillion-a-day global foreign exchange market via Chainlink rails, Swift messaging, and regulated EUR and KRW stablecoins. The project aims to replace the industry's standard two-business-day settlement cycle with instant, atomic transactions powered by regulated stablecoins and blockchain infrastructure, without requiring banks to abandon their existing systems. The project brings together more than 50 financial institutions, including a coalition of Korean banks led by Shinhan Bank, JB Bank, and Kbank through UniKA, as well as Qivalis, a consortium representing 37 European banks.

Beyond these headline initiatives, Chainlink reports a wave of platform-level integrations. BitGo, Robinhood, Aave, and OKX have all adopted Chainlink infrastructure. Mantle is migrating its $2.5 billion $MNT token to Chainlink CCIP. Lombard Finance is using Chainlink for cross-chain distribution of its Bitcoin credit strategy. And Circle's Arc product has joined Chainlink Scale, giving it access to institutional oracle infrastructure.

Taken together, the deals mark a shift in Chainlink's story: from oracle provider to a broad institutional settlement and interoperability layer that spans both traditional finance and decentralized platforms.

Sources:
DTCC Executes First Production Trades of Tokenized U.S. Securities with Chainlink (Castle Crypto)
DTCC Taps Chainlink for Its Tokenized Collateral Platform Ahead of Q4 Launch (CoinDesk)
Chainlink Launches Project Pangea With 50+ Banks Across 16 Countries for T+0 FX Settlement (The Defiant)

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SummaryCoreWeave delivered a standout Q2, with revenue up 112% YoY to $2.6B and backlog surging to $104.2B.Despite robust demand and raised guidance, CRWV's capital intensity and weak return-on-capital constrain its investment appeal.Adjusted EBITDA margin hit 59%, but adjusted operating margin was just 5%, with D&A of $1.39B and CapEx projected at $35–39B for 2026.I rate CoreWeave a Hold; demand and operational progress are strong, but sustainable, attractive returns remain unproven.NicoElNino/iStock via Getty Images

CoreWeave (CRWV) (CRWV:CA) reported Q2 earnings yesterday, and in my view, this was probably the most important quarter the company has delivered since going public. What caught my attention is that CoreWeave finally showed the

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