Market Signal Briefing

Spot Ethereum (ETH) exchange-traded funds (ETFs) are facing immense selling pressure, having recorded four consecutive weeks of net outflows.

Over that stretch, between January 17 and February 13, U.S. spot Ethereum ETFs have shed roughly $1.26 billion worth of the cryptocurrency, according to historical data accessible on SoSoValue at press time, February 17. 

If redemptions continue this week, the market will thus log a fifth straight week of outflows, a streak not seen since spring 2025, when institutional flows ended up in the red for two months straight between late February and late April.

The signs that outflows might continue are already negative, as Ethereum funds recorded a loss of 22,492 ETH yesterday, Monday, February 16, worth around $44.42 million, as per the latest Lookonchain reports.

Ethereum ETF moves. Source: SoSoValue Ethereum ETFs struggle as spot prices fall The institutional pullback comes amid a sharp correction in Ethereum prices. In fact, over the same period, the spot price has slid from $3,328 to $1,946, a more or less 41% decline.

Bitcoin (BTC) is facing a similar problem. Namely, according to SoSoValue statistics, U.S. spot Bitcoin ETFs lost some $1.3 billion at the same time, just as the price fell from $95,598 to $69,382.

At the time of writing, Ethereum was trading at $1,966, down 0.72% on the daily chart, while the total crypto market capitalization slipped 0.97% to $2.34 trillion.

Daily Ethereum price. Source: Finbold At the same time, the Crypto Fear & Greed Index dropped to 13, firmly in “Extreme Fear” territory and signaling heightened risk aversion. With daily Ethereum trading volumes also down 22%, declining conviction rather than panic-driven selling appears even more likely.

From a technical standpoint, the digital currency is trading below its 200-day Exponential Moving Average (EMA) at $2,027.39, a level widely seen as defining the longer-term trend. Meanwhile, the 7-day Simple Moving Average (SMA) at $1,984.73 has turned into near-term resistance.

Until ETH can reclaim the $2,000–$2,030 range, the path of least resistance appears tilted to the downside. The key question facing the market now is whether Ethereum can at least defend the $1,950 support zone, as a failure to do so could likely lead to a deeper correction.

Featured image via Shutterstock

Stan Chartered just revised their XRP price target, but capital flow rotation points the opposite way.

Market Sentiment:

Bullish Bearish Neutral

Published: February 17, 2026 │ 10:59 AM GMT

Created by Kornelija Poderskytė from DailyCoin

Standard Chartered has cut its 2026 price target for XRP to $2.80, a sharp reduction that lands as the token tries to steady itself around the mid-$1.40s after a volatile February.

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The downgrade, described as a 65% trim to the bank’s prior forecast, has become a fresh anchor on sentiment even as XRP posts modest day-to-day gains. It also highlights a familiar tension in crypto: big-name projections can shift quickly, while positioning in the market often tells a different story.

A Lower Ceiling From a Major Bank The revised $2.80 call resets expectations for investors who had been leaning on more aggressive longer-term scenarios. Around the time of the update, XRP was trading near $1.48, only slightly higher on the day, suggesting traders absorbed the news without an immediate capitulation move.

Standard Chartered slashes 2026 targets as "ETF Fatigue" sets in!

The bank’s digital asset lead, Geoffrey Kendrick, warns of a "final capitulation" phase before the recovery. Here’s the breakdown:

📉 2026 Targets Revised:
XRP: $2.80 (was $8.00)
BTC: $100K (was $150K)
ETH:… pic.twitter.com/F42KMogkFm

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) February 16, 2026 What Standard Chartered’s change reflects—whether softer assumptions on adoption, market structure, or broader risk appetite—wasn’t fully detailed across reports. But the magnitude of the cut was the headline, and it arrived during a period when large-cap altcoins have struggled to reclaim key technical levels.

Capital Flows Point The Other Way In a twist, XRP has simultaneously led institutional flows among major digital assets, topping Bitcoin and Ethereum in net inflows over the latest tracked period, according to a separate report. That’s notable given the broader backdrop of redemptions from digital-asset investment products, with weekly outflows cited at roughly $173 million and month-to-date redemptions in the billions.

The divergence suggests some allocators are rotating within crypto rather than exiting entirely—reducing exposure to certain assets while selectively adding to others, XRP included. Whether that reflects opportunistic dip-buying, relative-value positioning, or shifting expectations around XRP-specific catalysts is still unclear.

Why This Matters For Traders Now For crypto investors, the immediate takeaway is less about the exact $2.80 number and more about dispersion: analysts are turning cautious while capital is still showing up. In practical terms, that can translate into choppy price action—headlines capping rallies, but steady bid support limiting drawdowns—until a clearer macro or regulatory catalyst breaks the stalemate.

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DailyCoin's Vibe Check: Which way are you leaning towards after reading this article?

Market Sentiment

100% Bullish

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

12h05 ▪ 4 min read ▪ by Fenelon L.

Summarize this article with:

Bitcoin is going through one of its toughest phases in months. Nearly half of the circulating supply is at a loss, ETFs are bleeding billions. Yet, miners and long-term holders refuse to give in. Should this be seen as a sign of hope, or simply the denial of a market that has not yet hit bottom?

In brief Nearly 43% of Bitcoin’s circulating supply is currently at a loss. The NUPL indicator falls to 21.30%, a level characteristic of widespread capitulation. Spot Bitcoin ETFs have recorded $2.17 billion in net outflows since early February. Miners hold onto their BTC rather than sell, partially financed by AI-related revenues. Indicators Sound the Alarm February 2026 will be remembered as a painful month for Bitcoin holders. Analyst GugaOnChain, a recognized contributor to CryptoQuant, published a particularly harsh on-chain report: 42.85% of the circulating supply is now at a loss, and the NUPL (Net Unrealized Profit/Loss) indicator has plummeted to 21.30%. 

Over the past thirty days, BTC has lost nearly 28% of its value, trading about 46% below its all-time high surpassing $126,000, reached in October 2025.

These levels recall painful episodes. Experts at XWIN Research note that the fear and greed index has dropped to 8 out of 100, an extremely rare level. It was previously observed only at the 2018 bottom, the COVID crash in March 2020, and the FTX collapse in November 2022. In short: the current market sentiment resembles a genuine crisis.

On the institutional side, the trend is equally worrying. Spot Bitcoin ETFs have recorded $2.17 billion in net outflows since the start of the month, with a notable acceleration when the price crossed the $60,000 threshold on February 6. 

More broadly, according to CoinShares, crypto investment products have experienced $3.8 billion in withdrawals over four consecutive weeks. Sector assets under management have fallen to their lowest level since April 2025.

The behavioral dimension also sheds light on the situation. Heavily negative funding rates on major exchange platforms, according to Santiment, indicate many traders are heavily betting on the continuation of the decline. Behavioral finance speaks here of loss aversion and herd behavior: when fear dominates, caution becomes instinctive.

Signs of Resistance That Deserve Attention Yet, the story does not end there. Beneath the surface of a retreating market, several indicators reveal unexpected resistance, which is precisely what makes the situation interesting.

Long-term holders, far from panicking, have absorbed 380,104 BTC over the past 30 days. This figure reflects an unwavering conviction among those familiar with Bitcoin cycles: buy when there is “blood in the streets,” according to the famous phrase. 

Miners adopt the same philosophy: rather than liquidating their BTC to cover operating costs, they choose to hold. Part of their income now comes from services related to artificial intelligence, giving them unprecedented leeway to withstand selling pressure.

Michael Saylor, CEO of Strategy, embodies this conviction alone. Despite a correction of more than 50% since the all-time high, he announced a new purchase of 1,142 BTC for about $90 million — bringing the company’s total to 714,644 BTC valued at $49.3 billion. 

Globally, revealing geographic divergences are also noted. While the United States concentrates $403 million in outflows, Germany, Canada, and Switzerland show significant combined inflows — proof that American pessimism is not unanimous.

In summary, Bitcoin is going through a severe turbulence zone, and GugaOnChain does not foresee a real recovery before the second quarter of 2026. However, strong hands, miners, long-term holders, and players like Strategy send a clear message: they are not selling. In past cycles, it is often this type of silent resistance that has preceded the most spectacular reversals.

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Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

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

Solana DEXs now offer CEX-like pricing despite a 90% volume drop since 2024, as prop AMMs, wrapped SOL markets, and new staked-SOL liquidity tools reshape on-chain trading.

Summary

Solana DEXs achieve market depth that often matches or beats Binance and OKX pricing, with spreads shifting as arbitrage rotates across venues. Prop AMMs and wrapped SOL on Ethereum, Base, and BNB Chain improve price discovery but still face thinner liquidity and higher cross-chain costs. Treasury wallets hold over 20 million SOL, about half staked, while Jupiter’s native-staked SOL tool unlocks liquidity without exiting staking. Solana’s on-chain trading infrastructure has demonstrated competitive pricing compared to centralized exchanges, according to recent market data.

Decentralized exchanges on the Solana network have achieved market depth sufficient to match or exceed prices quoted on major centralized platforms including Binance and OKX, according to trading data. The price differential between decentralized and centralized venues remains variable as arbitrage opportunities shift between platforms.

Proprietary automated market makers (Prop AMM) have contributed to improved price discovery on Solana’s decentralized exchanges, according to market observers. These specialized liquidity pools operate at specific price ranges, providing trading efficiency. Prop AMM exchanges have increased activity over the past month, offsetting declines in overall decentralized exchange volume.

Wrapped Solana tokens on Ethereum, Base, and BNB Chain trade at different price ranges compared to native Solana, according to market data. These markets face liquidity constraints and higher transaction costs related to trading and cross-chain bridging.

Trading volumes on Solana decentralized exchanges have declined approximately 90% since October 2024, according to network data.

Treasury entities currently hold over 20 million Solana tokens, with holdings remaining stable in recent months, according to blockchain data. Approximately 50% of treasury holdings are staked, the data showed.

Jupiter, a Solana-based platform, recently launched a tool enabling natively staked Solana to function as liquid tokens. The tool allows Solana validators to access liquidity while maintaining staking positions and earning block rewards and fees, according to the company’s announcement.

Solana has historically experienced extended periods of price decline followed by accumulation phases, according to market records. The token currently trades above previous baseline levels, though concerns regarding large holder liquidations persist, market participants noted.

Ethereum’s tokenized real-world asset market has topped $17 billion in value issued on its mainnet, according to The Block’s data, as large players like BlackRock and JPMorgan continue bringing traditional funds onchain.

The figure represents a nearly 315% increase from a year earlier, when the sector was worth $4.1 billion, and reinforces Ethereum’s dominance as the leading blockchain for tokenized finance. Ethereum currently accounts for approximately 34% of total onchain RWA value across all networks. Stablecoins on Ethereum mainnet have also climbed above $175 billion in aggregate market capitalization, underscoring the network’s role as the primary settlement layer for tokenized dollar-denominated assets.

RWA boom The growth highlights an accelerating shift by traditional financial institutions toward blockchain-based versions of familiar products. Wall Street incumbents, including BlackRock and JPMorgan, are building blockchain-native payments, savings, and investment instruments on Ethereum.

BlackRock’s tokenized Treasury fund, BUIDL, has emerged as the flagship product in the category. Launched in 2024 via Securitize, the fund invests in short-term U.S. government securities and has grown to become the largest tokenized money-market vehicle on public blockchain infrastructure.

Earlier this month, BlackRock expanded BUIDL’s utility by enabling direct onchain trading through UniswapX in collaboration with Securitize and Uniswap Labs, marking one of the clearest intersections yet between institutional capital and decentralized finance.

JPMorgan has also entered the arena. In December, the bank launched its first tokenized money-market fund on Ethereum, seeding it with $100 million and targeting qualified investors. The move builds on the firm’s broader blockchain strategy and signals that tokenized yield products are gaining traction beyond crypto-native issuers.

Recent market activity suggests the momentum is not confined to Treasuries alone. This week, Wintermute launched institutional trading for tokenized gold, forecasting that the tokenized commodities segment could reach $15 billion in 2026. Commodities already represent more than $5 billion of Ethereum’s RWA footprint.

The surge in Ethereum-based RWAs also aligns with broader projections from major financial institutions. Standard Chartered has previously estimated that tokenized real-world assets could reach $2 trillion by 2028, with the vast majority issued on Ethereum. ARK Invest has projected that tokenized assets could climb to roughly $11 trillion by 2030 from current levels.

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

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

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

Spot Ethereum ETFs see four straight weeks of outflows as price and sentiment slide.

Summary

Spot Ethereum ETFs post longest outflow streak since spring 2025, with a likely fifth week looming.​ Ethereum price, volumes, and total crypto market cap have all declined alongside U.S. spot ETF redemptions.​ Fear & Greed Index flashes “Extreme Fear” as ETH trades below key moving averages and tests critical supports.​ Recent reports from Lookonchain indicated funds recorded additional losses in recent trading sessions, as Ethereum price continues to face downward momentum hovering around $2,000 USD.

Spot Ethereum exchange-traded funds have recorded four consecutive weeks of net outflows, with signs pointing to a fifth straight week of redemptions, according to historical data from SoSoValue.

The outflows have coincided with a sharp correction in Ethereum prices, with the spot price declining significantly over the same timeframe. U.S. spot Bitcoin ETFs have similarly experienced notable outflows as cryptocurrency prices fell, according to market data.

Ethereum traded lower during the reporting period, while total cryptocurrency market capitalization declined, according to market tracking services.

The Crypto Fear & Greed Index has fallen into “Extreme Fear” territory, indicating heightened risk aversion among market participants. Daily Ethereum trading volumes have also decreased during the period.

Technical analysis showed the digital currency trading below its longer-term moving average, with the short-term moving average functioning as near-term resistance. Market analysts noted that until Ethereum reclaims its prior higher range, downward pressure may persist.

The cryptocurrency’s ability to defend key support levels remains a critical factor, as a breach could trigger a deeper correction, according to market observers.

The TON Foundation has partnered with crypto infrastructure provider Banxa to roll out stablecoin payment processing for small and medium-sized enterprises across the Asia-Pacific region. 

The collaboration enables APAC SMEs to use The Open Network (TON) blockchain for settlement and cross-border money movement, according to a statement on Tuesday. 

More specifically, the integration combines Banxa's fiat-to-crypto on- and off-ramp network with TON's infrastructure to support business-to-business settlements, consumer-to-business payments, and cross-border transactions. Banxa, an OSL Group company, brings licensed operations across Asia-Pacific, the U.S., the UK, Europe, Latin America, and Africa to the partnership, the firms said.

"This collaboration reflects our emphasis on generating TON-based use cases that provide long-term commercial utility for builders and businesses around the world," Nikola Plecas, vice president of payments at TON Foundation, said in the statement. 

The announcement follows the Feb. 11 launch of TON Pay, a payment SDK that allows Telegram Mini Apps to accept Toncoin and USDT directly within the messaging platform. TON Pay processes transactions with average fees below $0.01 and sub-second settlement times, targeting Telegram's 1.1 billion monthly active users, according to the foundation.

OSL Group, which acquired Banxa as part of its push into payments, completed a $200 million equity financing round in January 2026, following a $300 million raise in 2025 — at the time the largest publicly disclosed equity raise in Asia's digital asset sector, according to the firm.

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

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

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Crypto markets stayed wild Monday. XRP managed to climb 2% to $0.45 in early trading, giving holders a small break after weeks of pretty rough declines that had many investors getting nervous about their positions.

Ethereum didn’t fare as well, dropping 3% to $1,650 as regulatory worries kept hammering the second-biggest cryptocurrency. The decline comes as the SEC keeps pushing its crypto crackdown agenda, making traders jumpy about what’s coming next. ETH has been struggling for weeks now, and Monday’s drop just added to the pain. Market makers say liquidity has been thin, which makes every move feel bigger than it should. And frankly, nobody’s sure when this regulatory mess will clear up.

Bitcoin held near $26,000. Not much movement there.

Cardano stayed flat at $0.38, which tells you everything about investor confidence right now – there isn’t much of it. The network’s been working on upgrades that should make things faster and better, but traders aren’t buying the hype yet. ADA holders have been waiting for months to see real progress, and the stagnant price shows their patience is wearing thin. Charles Hoskinson’s team keeps promising big things, but the market wants results, not roadmaps.

Binance saw XRP trading volume jump 20% compared to last week, which is interesting given the modest price bump. That kind of activity usually means something’s brewing, though it’s unclear what. Exchange data shows most of the action came from retail traders, not the big institutional players who’ve been sitting on the sidelines.

Brian Armstrong wasn’t happy about regulatory pressure. The Coinbase CEO said during a Monday interview: “These SEC actions are creating unnecessary uncertainty that’s hurting innovation and confusing investors who just want clear rules.”

Ripple wouldn’t comment on XRP’s price moves, which is typical for them these days. The company’s still fighting its legal battle with the SEC, and every statement gets picked apart by lawyers. Brad Garlinghouse did mention potential partnerships in Asia-Pacific markets that could boost XRP’s use in cross-border payments. He thinks those deals might help the token find its footing, but he didn’t give specifics or timelines. See also: XRP Crushes Bitcoin and Ether in.

Tether stayed pegged at $1.00 through all the chaos. USDT’s stability matters because traders use it as their safe haven when other cryptos get messy.

The European Central Bank hasn’t said anything about digital currencies lately, but analysts think that’s about to change. Any ECB announcement could shake up crypto adoption across Europe, and traders are watching for signals. The silence is getting louder, if that makes sense.

Kraken had technical problems Monday that knocked the exchange offline for two hours. Users couldn’t trade during that window, which is never good when markets are moving. The exchange said funds stayed secure and blamed the outage on system upgrades gone wrong. These kinds of glitches remind everyone that crypto infrastructure still has growing pains.

Vitalik Buterin talked to the Ethereum community in a webcast, focusing on scaling solutions like rollups that should help the network handle more users. He seemed optimistic about the tech but admitted the timeline for major improvements keeps getting pushed back. Developers are working hard, but building this stuff takes time, and the market doesn’t like waiting. Related coverage: Ripple CEO Joins Crypto Advisory Panel.

Japan’s Financial Services Agency said it’s reviewing crypto exchange rules, which could change how platforms operate there. The FSA announcement came as Japanese interest in digital assets keeps growing, and any regulatory shifts in Japan tend to ripple through Asian markets. The review timeline wasn’t specified, but industry sources expect something by summer.

Market participants are still waiting for the SEC’s decision on Bitcoin ETF applications. That ruling could move the entire sector, but nobody knows when it’s coming. The waiting game continues, and volatility will probably stick around until there’s more clarity. Trading volumes across major exchanges stayed elevated Monday, suggesting investors aren’t ready to step away despite all the uncertainty.

The SEC’s crypto enforcement actions have intensified since Gary Gensler took charge, with the agency filing dozens of cases against various projects and exchanges. Wells notices have been sent to major platforms including Coinbase and Robinhood, creating a climate where companies are spending millions on legal fees rather than innovation. Industry lobbying groups estimate that regulatory uncertainty has delayed over $50 billion in potential crypto investments this year alone.

Meanwhile, traditional finance keeps creeping into digital assets despite the regulatory chaos. BlackRock’s Bitcoin ETF application remains under review, and Fidelity has been quietly expanding its crypto services for institutional clients. Major banks like JPMorgan and Goldman Sachs continue building their digital asset trading desks, betting that clearer regulations will eventually emerge. Their involvement suggests institutional money is still interested, just waiting for the right moment to jump in.

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Wintermute launched institutional OTC trading for tokenized gold products PAXG and XAUT. The firm projects the tokenized gold market could reach $15 billion in 2026. Rising RWA adoption signals a broader structural shift in capital markets. Crypto market maker Wintermute has launched institutional over-the-counter trading for tokenized gold products, signaling growing confidence in blockchain-based commodities.

The firm confirmed that its OTC desk now supports execution in Pax Gold (PAXG) and Tether Gold (XAUT), the two largest gold-backed tokens by market capitalization. The move positions Wintermute to capture rising institutional demand for on-chain exposure to physical gold.

According to the company, its desk will offer algorithmically optimized spot trading for institutional counterparties. Clients can trade PAXG and XAUT against USDT, USDC, fiat currencies, and major crypto assets. This structure allows real-time hedging and flexible collateral management.

The launch comes as tokenized gold trading volumes surged past several major gold ETFs in the fourth quarter of 2025. The sector recorded $126 billion in trading volume during that period alone. Market capitalization for on-chain gold climbed more than 80% in three months, rising from $2.99 billion to $5.4 billion.

Wintermute CEO Evgeny Gaevoy said the firm sees gold undergoing the same infrastructure transformation that reshaped foreign exchange markets. He projected that the tokenized gold market could expand 2.8 times to reach $15 billion in 2026 as institutional adoption accelerates.

This recent industry momentum is part of a larger trend in digital asset infrastructure. As has been pointed out in this coverage of BlackRock’s tokenization growth, the asset management industry is recognizing blockchain infrastructure as long-term capital market infrastructure. Likewise, the increasing regulation of stablecoins mentioned in U.S. crypto policy updates is further evidence of institutional comfort with tokenized assets.

Tokenized Gold Gains Edge Over Traditional ETFs Tokenized gold refers to blockchain-based tokens that are collateralized by physical gold reserves. These assets can be traded for fractional ownership 24/7 with instant settlement on the blockchain. Unlike ETFs, which are based on conventional market hours and settlement infrastructure, tokenized assets are transmitted through decentralized networks at any time.

This is particularly attractive to institutional investors who want to access liquidity at times other than conventional market hours. It also allows for the integration of decentralized finance infrastructure, where tokenized gold can be used as collateral.

Macroeconomic uncertainty and the de-dollarization trend have driven investors to safe-haven assets. Gold is currently trading close to all-time highs, which has fueled interest in digital assets that offer exposure to commodities combined with the efficiency of blockchain technology.

Wintermute’s decision to expand its business is a testament to its belief that tokenized bullion will see continued institutional inflows.

Tokenized RWAs Drive Structural Market Shift Tokenized gold is part of a larger real-world asset (RWA) trend. Industry analysts are increasingly predicting large-scale growth in this sector. ARK Invest predicts that tokenized assets will break $11 trillion by 2030. Standard Chartered predicts that tokenized RWAs will reach $2 trillion by 2028. BlackRock executives have also characterized tokenization as a structural shift in capital markets.

Public-market RWAs already tripled in 2025 to approximately $16.7 billion. Platforms tracking the sector, such as RWA.xyz, show rapid increases in on-chain asset issuance and holder participation. Meanwhile, global gold market dynamics tracked by the World Gold Council indicate rising institutional allocation to bullion.

Wintermute aims to bridge these two worlds. Through the integration of the gold stability story and the blockchain settlement infrastructure, the company aims to place tokenized gold on par with institutional-grade collateral.

The company believes that with increased liquidity and regulatory clarity, tokenized commodities will appeal to hedge funds, family offices, and traditional asset managers.

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Why Trust CoinGape

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

Shark Tank investor Kevin O’Leary warns Bitcoin could see further crash as institutions grow more cautious amid quantum computing threats. He claims TradFi institutions would also limit their crypto allocations to 3% as only Bitcoin and Ethereum matter now after the October crypto market crash.

Institutions Only Need Bitcoin and Ethereum, “Everything Else Is Just Poo Poo Coins”: Kevin O’Leary Kevin O’Leary asserts institutions are reconsidering crypto exposure after 50% Bitcoin crash since October. He claims something bigger is happening underneath the price action.

For 90% of the upside and volatility in crypto, institutions realized they only need exposure to Bitcoin and Ethereum. Shark Tank investor calls altcoins “poo poo coins, worthless,” as they got dumped and failed to rebound.

The comments come at a time when major financial institutions are reassessing their crypto exposure amid massive outflows from spot Bitcoin and Ethereum ETFs. Bitcoin has also failed its digital gold and safe-haven narratives.

This has caused many TradFi institutions to cut their BTC holdings. Notably, Harvard cuts holdings in BlackRock Bitcoin ETF (IBIT) by 21% after massive crash. Institutions have turned cautious amid continued selling pressure amid macro and geopolitical tensions related to US-Iran nuclear talks, increasing the risk of a sharp decline in Bitcoin.

Kevin O’Leary Flags Quantum Computing Threats, Will Bitcoin Crash? Kevin O’Leary has issued a stark warning regarding Bitcoin and the crypto market. He cautioned that the rapid advancement of quantum computing poses significant threats to Bitcoin and other crypto assets.

“The idea that a quantum computer could eventually break the chain is making institutions hesitate,” he added. Until the quantum computer threats are resolved, TradFi institutions will limit their crypto allocations to 3%.

Kevin O’Leary said “They’ll stay cautious, they’ll stay disciplined, and they’ll wait for clarity. That’s the reality.” This heightened Bitcoin crash risks amid rising selling pressure from a lack of institutional support.

While experts have pointed out that the quantum threat to Bitcoin is still 10-15 years away, the crypto industry is actively researching quantum-resistant upgrades. Bitget introduced the UEX Security Standard for multi-asset exchanges in partnership with BlockSec.

Recently, the BIP 360 proposal on future computing threats was updated and merged into the official Bitcoin Improvement Proposal (BIP) GitHub repository. The proposal introduces Pay-to-Merkle-Root (P2MR), which is designed to support quantum-resistant script tree functionality. This marks the latest efforts to make Bitcoin quantum safe.

BIP 360 Proposal: Pay-to-Merkle-Root Moreover, Michael Saylor also announced that Strategy’s Bitcoin security initiative with the global cyber, crypto, and Bitcoin security community to address quantum computing and future threats.

BTC price fell more than 1.50% in the past 24 hours, with the price currently trading at $67,967. The 24-hour high and low are $70,067 and $67,301, respectively.

Cryptocurrency exchange Kraken said it would sponsor Trump Accounts for every child born in Wyoming in 2026. This comes as blockchain monitoring firm Arkham flagged recent activity from the exchange platform.

According to the blockchain monitoring firm, Kraken moved roughly 46.02 billion Shiba Inu tokens (approximately $301,900) from cold storage to an active hot wallet on the Ethereum network.

Kraken pledges early investment to build financial futures in Wyoming The major United States-based cryptocurrency exchange stated that the move to sponsor Trump Accounts reflects its belief that America should continue to improve its financial system. Kraken wants more people to have access to financial services and an easier way to grow their money over time.

Kraken Co-CEO Arjun Sethi stated, “This is not a gift. It is an investment in Wyoming’s future. We chose Wyoming as our global headquarters because it leads the country in thoughtful crypto innovation and regulation.”

The company is willing to establish a savings scheme for newborn babies at birth. These accounts are meant to be organized as long-term savings accounts in which cash accrues over time. Kraken executives said the program reflects the belief that financial systems require modernization to enable more people to access tools to build wealth. 

By adding money to children’s accounts early in life, Kraken hopes families can grow their savings over time and build financial security for the future. Kraken co-CEO Arjun Sethi said the program is more than a simple donation.

Cynthia Lummis, a senator from Wyoming, said she was happy with Kraken’s decision and thanked the company for supporting the state.

Wyoming cements role as crypto-friendly financial hub Wyoming has proven to be a leader in crypto adoption, ranking among its peers. Wyoming has strengthened its position as one of the most crypto-friendly states in the United States. 

The state has created laws and policies to attract blockchain companies and support growth in digital finance. Kraken has furthered this mission by partnering with the University of Wyoming to share lessons and resources for the blockchain program. This is intended to contribute to a skilled workforce as students pursue careers in digital finance.

Among these was the issuance of a Special Purpose Depository Institution (SPDI) charter to Kraken Financial, making it the first crypto company in this country to receive such a banking license.

Kraken has further solidified its long-term commitment to Wyoming by sponsoring savings accounts for newborns. This is part of a move to integrate crypto firms into larger financial and community programs as they become part of the broader ecosystem, he says. 

Large SHIB transfer shows Kraken’s rising role in the crypto market Kraken’s also attracting a fair bit of interest from crypto fans, as recent massive transfers of SHIB tokens to one of the platform’s hot wallets. The operation involved around 46 billion Shiba Inu tokens and mirrors the exchange’s liquidity maintenance strategy in case of potential trading activity.

The move coincided with a modest price uptick for Shiba Inu (SHIB), which has been trading in a recovery pattern following recent market pressures. SHIB is forming a bullish flag pattern. A bullish flag occurs when the price pauses briefly after a rally before resuming its upward trend. The breakout level sits near $0.0000069. If Shiba Inu breaks above this level, it could rise toward $0.0000099, representing a 43% gain.

Hot wallets, which are internet-based, allow exchanges to expedite trade and withdrawal operations. Those transactions are massive, as wallets are frequently used to either increase trading volumes or prepare for larger transactions.

RAY surged over 11% in 24 hours to $0.69 as trading volume exploded more than 200%, signaling a sudden shift in participation. 

Buyers stepped in aggressively and pushed the price away from recent compression. Volume reached $60.5M, which dwarfs prior sessions and confirms real engagement. 

Raydium’s [RAY]  price did not grind higher slowly. Instead, it expanded decisively. That matters because expansion phases often precede structural tests. 

However, volume alone does not guarantee continuation. Traders now watch whether this surge reflects sustained conviction or short-term rotation. 

Still, such a sharp spike in activity changes market tone quickly. It forces sidelined participants to reassess positioning while volatility begins to rise again.

Will the breakout above descending resistance hold? RAY has now broken above its multi-month descending resistance line after months of lower highs. Price reclaimed that falling trendline near the $0.65 region and now trades around $0.684. 

This shift alters structure. For months, sellers defended that slope consistently. Now, buyers challenge it. 

However, structure alone does not confirm reversal. Horizontal resistance still sits at $0.857, while stronger supply waits near $1.287.

 Meanwhile, $0.543 remains critical support if momentum fades. The breakout marks a structural inflection point. 

Yet continuation depends on sustained follow-through above the reclaimed trendline. Without that, the move risks turning into a liquidity sweep rather than a durable reversal.

Source: TradingView

The RSI rebounded sharply from oversold territory and now hovers near 46. Previously, the oscillator dipped close to 30, reflecting heavy downside pressure. 

Such exhaustion phases often precede relief rallies. Now, RSI trends upward gradually instead of spiking into overbought extremes. 

This behavior suggests rebuilding strength rather than overheating. However, RSI still sits below the 50 midpoint. 

Bulls must reclaim that zone to confirm stronger expansion. Until then, momentum remains transitional.

Has aggressive buying already cooled? The 90-day Spot Taker CVD has shifted from buyer dominance to neutral. Earlier, aggressive taker buys drove price upward and supported expansion. 

Now, that dominance fades. CVD flattening indicates balance between market buyers and sellers. 

Aggressive demand no longer accelerates. That shift introduces caution. Breakouts require sustained pressure from active buyers. 

When CVD neutralizes, upside momentum often slows. However, neutrality does not imply immediate reversal. 

Instead, it signals a pause in intensity. If buyers reassert dominance, continuation could follow. Conversely, prolonged neutrality may invite selling pressure near resistance levels.

Source: CryptoQuant

Rising exchange inflows hint at profit-taking Recent spot netflow turned positive, showing roughly $572K entering exchanges. Inflows mean traders deposit tokens to centralized platforms. 

This behavior often precedes selling activity. During rallies, inflows can reflect profit-taking. Therefore, this metric introduces distribution risk into the equation. 

Earlier outflows suggested holding behavior. Now, deposits increase while price trades near $0.69. The alignment raises short-term caution. 

However, the inflow magnitude remains modest relative to prior spikes seen above $3M historically. 

Traders should monitor whether inflows accelerate further. Sustained deposits could pressure price near resistance.

Source: CoinGlass

Open Interest expands as leverage returns Open Interest jumped 17.81% to $5.14M alongside the price surge. Rising price combined with rising OI often signals fresh positioning. 

Traders appear to enter new leveraged contracts rather than simply close shorts. That dynamic increases volatility potential. 

If price continues higher, leveraged longs may amplify gains. However, crowded positioning also raises liquidation risk. 

A pullback could trigger forced exits quickly. Therefore, OI expansion supports the breakout narrative but also heightens instability. Derivatives activity now plays a larger role in short-term direction.

Source: CoinGlass

To sum up, Raydium shows early structural improvement after breaking descending resistance with strong volume. 

However, neutral CVD and rising exchange inflows temper enthusiasm. Fresh leverage enters aggressively, which increases volatility risk. 

If buyers reclaim $0.857 decisively, continuation toward higher supply zones becomes likely. 

Until then, the breakout faces its first conviction test, and sustainability depends on renewed aggressive demand rather than short-term speculation.

Final Summary Raydium’s structural shift could extend higher if buyers defend reclaimed resistance zones convincingly. However, rising exchange deposits and growing leverage could quickly destabilize short-term upside continuation.

Bitcoin or Gold? Strategist Says It’s a Bet on Trump’s Success vs. America’s Failure Prefer us on Google

Strategist James Thorne casts Bitcoin and gold as opposing economic bets.Gold reflects skepticism about debt, monetary policy, and reform prospects.Bitcoin’s safe-haven narrative faces pressure as investors favor gold.The Bitcoin vs. gold debate has heated up over the past few months as investors reassess inflation risks and the future direction of monetary policy. 

Yet according to one market strategist, the divide now extends beyond portfolio hedging. In his view, it reflects something far larger: a wager on the trajectory of the American economy itself.

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Bitcoin vs Gold: Two Assets, Two Visions of America’s Path In a recent post, James E. Thorne, Chief Market Strategist at Wellington-Altus, framed the two assets as opposing bets on the trajectory of the US economy. 

“For the record. Bitcoin Is a Bet on Trump’s Success. Gold Is a Bet on America’s Failure,” Thorne wrote.

The strategist explained that gold, in his view, has become what he described as a “verdict.” Rather than simply protecting against inflation or volatility, he argued that rising demand for gold reflects a growing lack of confidence in “Trump’s economic revolution” and the ability of policymakers to reform an economy burdened by excessive debt.

According to Thorne, investors piling into gold are effectively betting that the US will continue down a path of monetary expansion, debt accumulation, and currency debasement. 

“It is the old guard’s confession that they see only one way out of excessive leverage: print, debase, and hope the music doesn’t stop,” he remarked. “Trump, Bessent, and Warsh argue there is another path: reform the Fed, end the subsidy to idle reserves, stop paying banks to sit on cash, and force capital out of sterile Treasury holdings and back into the productive economy where it belongs.”

By contrast, Thorne positioned Bitcoin as a “speculative flag of success.” He suggested that it is a digital bet that regulatory clarity for the crypto sector, including measures such as the proposed CLARITY Act, alongside broader policy shifts, would position the US as a global crypto hub.

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In this “split-screen” vision of the future, gold signals doubt that America can grow its way out of mounting fiscal pressures, while Bitcoin reflects confidence that reform-driven growth can reduce the real burden of debt.

“If Trump’s program works, if growth, deregulation, and redirected capital start to shrink the real burden of debt instead of inflating it away, Wall Street will have to rediscover its purpose: generating credit for builders, not rent for bondholders. Then those who rushed into gold as a monument to decline will face a brutal reckoning: their ‘safe haven’ will stand as a shiny, inert tribute to one vast miscalculation — that America would fail just as its leaders chose to make it succeed,” Thorne mentioned.

Bitcoin’s Safe-Haven Narrative Faces ScrutinyThe remarks come at a time when gold has surged amid macroeconomic uncertainty despite volatility. On the other hand, Bitcoin has experienced notable drawdowns, reigniting debate over its store-of-value narrative.

Trader Ran Neuner recently raised concerns over Bitcoin’s response amid periods of genuine market stress and uncertainty.

“For the first time in 12 years, I’m questioning Bitcoin’s thesis,” he said. “We fought for ETF approval. We fought for institutional access. We wanted it inside the system. Now it is. There is nothing to fight for anymore.”

Neuner argued that episodes marked by tariff disputes, currency tensions, and fiscal instability presented a real-world test for Bitcoin’s safe-haven narrative. During those periods, however, investor flows appeared to favor gold over digital assets.

With exchange-traded funds approved and institutional channels widely available, access to Bitcoin is no longer a structural constraint. This removes a longstanding explanation for muted performance during stress events.

He also pointed to subdued retail engagement and weaker speculative momentum compared to prior cycles. While this does not imply a structural breakdown for Bitcoin, he suggested it raises questions about whether its investment thesis remains as clear-cut as it once appeared.

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Summary

Bitdeer cut 96.5 BTC from its treasury last week, leaving about 943.1 BTC in reserves.​ The miner’s holdings slipped under the 1,000 BTC mark despite ongoing production activity.​ Market watchers track miner selling as Bitdeer manages costs and balance sheet exposure. Bitdeer Technologies Group, a Nasdaq-listed Bitcoin (BTC) mining company, reduced its Bitcoin holdings by 96.5 bitcoins last week, bringing total reserves to approximately 943.1 bitcoins, according to data compiled by BitcoinTreasuries.

The decline pushed the company’s Bitcoin reserves below the 1,000 bitcoin threshold, according to reserve information released by Bitdeer and reported on BitcoinTreasuries’ X platform.

Bitcoin mining companies typically sell portions of their mined Bitcoin to cover operational expenses, maintain cash flow, or manage debt obligations, according to industry analysts. Market participants closely monitor miner selling activity, particularly during periods of heightened price volatility.

The reduction in Bitdeer’s holdings occurred despite continued production activity, the data showed. The company’s reserves falling below 1,000 bitcoins represents a shift in the firm’s balance sheet position.

Bitdeer Technologies Group operates Bitcoin mining facilities and provides hosting services for cryptocurrency mining operations. The company’s shares trade on the Nasdaq stock exchange.

Harvard is now an Ethereum (ETH) investor.

The Ivy League Institution’s endowment bought more than $86.8 million worth of BlackRock’s iShares Ethereum Trust exchange-traded fund (ETF) in the fourth quarter of 2025, per filings submitted to the U.S. Securities and Exchange Commission (SEC) last week.

Harvard Management Company also slashed its ongoing Bitcoin (BTC) ETF investment, reducing its iShares Bitcoin Trust holdings from 6,813,612 shares in Q3 to 5,353,612 in Q4. Those shares were worth $265.8 million as of December 31st.

The endowment first reported a $126.04 million BTC ETF investment in August, and those holdings grew to $443 million in Q3.

News of the private university’s investment shakeup materializes as the crypto market continues to bleed: Bitcoin is trading at $67,936 at time of writing and is down more than 2% in the past seven days and nearly 29% in the past month.

Ethereum has been hit even harder, down 4% in the past week and more than 40% in the past 30 days. The second-ranked crypto asset by market cap is trading at $1,978 at time of writing.

Endowments associated with Brown and Emory also disclosed crypto ETF investments in 2025. In a filing earlier this year, Dartmouth reported that it had invested more than $10 million in the iShares Bitcoin Trust ETF and nearly $5 million in Grayscale’s Ethereum Mini Trust ETF.

weakness in technology.” 

Generated Image: DALLE3

11h20 ▪ 4 min read ▪ by Luc Jose A.

Summarize this article with:

Bitcoin has just sent a signal that the market cannot ignore. After a brief surge above 70,000 dollars, Bitcoin sharply corrected in a fragile liquidity context, triggering a wave of massive liquidations. However, beyond this momentary volatility, a key indicator draws attention : the weekly RSI falls back to a level seen during the 2022 bear market. Between structural fragility and a possible echo of the previous cycle, the market finds itself at a strategic tipping point.

In Brief Bitcoin briefly surpasses 70,000 dollars before sharply correcting in a low liquidity context. 120 million dollars of positions liquidated in four hours during a session marked by low market depth. Price movements are described as “breakouts and shakeouts,” illustrating successive bullish and bearish traps. The weekly RSI drops to 27.8, its lowest level since June 2022, in oversold territory. Reduced Liquidity In a context of a sharp drop of the flagship crypto and Wall Street’s closure for Presidents’ Day, Bitcoin traded in thinned order books, encouraging abrupt and opportunistic moves.

The brief surge above 70,000 dollars was quickly erased, triggering a series of massive liquidations. Available data reveals :

A BTC peak at 70,000 $ before a rapid retracement ; 120 million dollars of crypto liquidations in just four hours ; Liquidity blocks absorbed then replaced by new sell walls above the price ; A sequence described by Material Indicators as “breakouts and shakeouts”. This setup reflects a market more vulnerable to moves by players with significant volumes. With thinner order books, simultaneous squeezes on long and short positions become more frequent.

Trader Daan Crypto Trades sums up the current climate : “Volatility is significantly higher, a phenomenon also observed in most other markets lately. Global markets are clearly not experiencing a calm period”.

The observed phenomenon therefore does not stem from a simple isolated incident, but from a global environment marked by increased volatility.

The Weekly RSI Returns to 2022 Bear Market Levels Beyond these rapid movements, a foundational indicator now draws attention: the weekly RSI. Keith Alan, co-founder of Material Indicators, observes similarities with the previous bear cycle.

He states: “I increasingly see similarities with 2022 on the BTC chart, as the weekly RSI approaches historically associated levels, once per cycle, with lows in oversold territory.” The indicator stood at 27.8 on Monday, its lowest level since June 2022, below the 30 threshold traditionally considered as an oversold zone.

The analyst recalls that during the 2015 and 2018 cycles, a weekly RSI in the oversold zone marked a macroeconomic bottom. However, in 2022, this signal preceded five months of consolidation before the establishment of a true market floor for Bitcoin.

Keith Alan also tempers any hasty projection : “This does not mean that the evolution will necessarily be identical this time, but it is relevant to monitor carefully the similarities and divergences in the market structure to refine expectations.” The signal is therefore to be watched, without automatic conclusion.

In the short term, volatility remains the main market driver. In the longer term, the technical signal calls for caution without deciding the upcoming scenario. While history offers landmarks, it never dictates the outcome. Now, the Bitcoin price trades at a level where each move could redefine the cycle’s balance.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

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

Binance logs three straight months of heavy stablecoin outflows, erasing $9B in reserves and signaling a sustained liquidity squeeze across crypto markets.

Summary

Binance has seen negative stablecoin netflows for three consecutive months, the longest stretch since the 2023 downturn. Net outflows climbed from about $1.8B in December to nearly $2.9B in January and around $3B halfway through February. Stablecoin reserves dropped from roughly $50.9B in November to $41.8B, shrinking the exchange’s capacity to absorb volatility. Binance has recorded three consecutive months of negative stablecoin netflows, marking a sustained contraction in crypto market liquidity, according to data shared by CryptoQuant.

The outflows represent the longest comparable stretch since the 2023 bear market, the data showed.

Monthly figures indicate an acceleration in the trend. December saw approximately $1.8 billion in net stablecoin outflows, followed by nearly $2.9 billion in January, according to the data. February outflows have reached close to $3 billion despite the month being only halfway complete.

Binance’s stablecoin reserves have declined from approximately $50.9 billion in November to $41.8 billion, representing a contraction of nearly $9 billion, the data indicated.

Stablecoin outflows from major exchanges typically indicate capital leaving the exchange ecosystem rather than being redeployed into other crypto assets, according to market analysts. Stablecoins serve as readily deployable capital in cryptocurrency markets, and declining balances reduce the capacity to absorb price volatility.

The outflows occur amid elevated global uncertainty and geopolitical tensions, factors that market observers say may be influencing investor behavior toward more defensive positioning.

The trend has continued without signs of stabilization, according to the latest available data from CryptoQuant.

XRP is sliding even as the XRP Ledger (XRPL) rolls out features that supporters have long framed as a bridge to institutional adoption.

According to CryptoSlate's data, the token has been trading around $1.47, while a mix of fresh supply signals, cooling marginal demand, and broader risk-off behavior continues to pressure the price.

At the same time, banking giant Standard Chartered reportedly cut its end-2026 XRP target by 65% to $2.80 from $8.00 as part of broader reductions to major crypto forecasts.

The disconnect is familiar in crypto, as blockchain networks can deliver meaningful upgrades, activity can rise, and prices can still fall if the market is focused on near-term liquidity.

That is what XRP holders are confronting now. On one side are infrastructure changes such as Permissioned Domains and Token Escrow, tools designed to make a public ledger more usable for regulated participants.

On the other hand, there are indicators that often matter more in the short run, including large holders moving coins to exchanges, exchange-traded fund flows becoming uneven, and derivatives positioning suggesting that traders are leaning defensive.

The result is a market that treats XRP less as a single-asset technology story and more as a high-beta trade that responds quickly to shifts in supply and demand.

Whales are back on Binance, and the market reads it as supplyOne of the clearest near-term signals is coming from on-chain flows into Binance.

CryptoQuant’s Whale Transfer Flow to Binance, tracked as a 30-day moving average, has risen to approximately 82.1 million XRP. This is the highest reading since last December and shows a re-acceleration after a quieter stretch.

XRP Whale Transfers to Binance (Source: Crypto Quant)Notably, that metric is not a verdict that whales are selling.

However, it is a reminder that coins entering an exchange are ones that can be sold quickly, and the market tends to treat this as a supply overhang until proven otherwise.

The numbers make the intuition concrete. At approximately $1.47, 82.1 million XRP represents roughly $120.7 million of notional supply appearing on a major venue over a 30-day window.

When demand is strong, such availability can be absorbed without significant damage, and prices can even rise as buyers compete for liquidity.

However, when demand is weak or inconsistent, it often requires lower prices to identify the next segment of buyers.

This is why exchange inflow signals matter most when they coincide with a wobble in marginal demand.

If the market believes there is a steady bid that reliably steps in, supply transfers become background noise. If that belief breaks, the same transfers become price-moving.

The ETF bid turned choppy, and that changed the absorption testThis increased supply comes as the demand side has been less consistent in the ETF wrapper. XRP spot ETF flow data indicate notable outflows following an initial period of uninterrupted inflows.

Data from SoSo Value indicate that the four XRP ETF products have experienced net outflows totaling more than $46 million over the past four weeks.

XRP ETF Weekly Flows in 2026 (Source: SoSo Value)This contrasts significantly with the fund's early performance, which drew in fresh capital of over $1 billion during a 35-day inflow streak.

Those numbers matter because ETF flows can act like a steady bid, until they do not. Even if outflows later stabilize, the message traders take from a streak ending is immediate.

The market becomes less willing to assume that a structural buyer is showing up every day. That shift makes XRP more sensitive to supply signals, including the whale-to-exchange transfers now showing up on Binance.

In practice, traders begin conducting an absorption test. When ETF flows are consistently positive, large deposits to exchanges can be soaked up and price can hold.

However, when the ETF tape turns uncertain, the same deposits become harder to digest, and the market tends to reprice lower until it finds buyers willing to step in without the comfort of a steady ETF bid.

Derivatives are crowded bearish, which increases downside risk and upside sensitivityMeanwhile, derivatives are adding another layer to the setup.

Data from CoinGlass indicate that XRP funding rates have turned negative over the past few weeks, with repeated spikes above -0.02%.

XRP Funding Rates (Source: CoinGlass)Negative funding typically means shorts are paying to hold positions, a sign that bearish positioning is crowded.

Crowded bearish positioning is a double-edged signal. If spot demand stays soft and supply continues to hit exchanges, the market can grind lower because shorts feel comfortable pressing, and longs are reluctant to step in.

In this case, token liquidity thins out, upward bounces are sold, and the price can continue to decline even without a fresh catalyst.

At the same time, heavy short positioning makes the market more sensitive to upside surprises. If any demand catalyst shows up, a renewed ETF inflow streak, a macro relief rally, or a clear rollover in exchange inflows, the move can accelerate quickly as shorts cover.

That is why a weak tape can coexist with sudden, sharp rebounds in crypto.

For now, the derivatives signal is aligned with the other near-term indicators. The market is positioned defensively, which makes it harder for positive news on the protocol side to translate into immediate price strength.

The upgrades are real, but they are not instant XRP-buy mechanismsThe contrast with XRP Ledger development makes this moment frustrating for long-term holders. The chain has shipped upgrades that speak directly to the institutional narrative.

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Permissioned Domains (XLS-80) went live on Feb. 4 with 91% validator approval. The feature is designed to create credential-gated zones on a public ledger, a framework that can support regulated participation without turning the network into a private chain.

Token Escrow (XLS-85) activated on Feb. 12, extending XRPL’s native escrow functionality beyond XRP to Trustline-based tokens and multi-purpose token structures.

At the same time, Permissioned DEX would launch on Feb. 17. This builds on other features and allows institutions to participate in compliant on-chain activity while keeping sensitive user data off the ledger.

These additions strengthen the pitch that XRPL wants to be an institutional settlement layer, with tools that make compliance and conditional settlement more practical.

However, upgrades such as these are not immediate demand drivers for XRP itself, as their adoption takes time, and integrations have to be built.

For context, Token Escrow may increase the amount of XRP locked up as reserves, but the effect is likely to be modest at this stage.

XRPL ties certain on-ledger objects to owner reserves held in XRP. Even so, the incremental demand generated by Token Escrow may be small relative to the supply forces currently driving price movements.

Using the reserve math of assuming 0.2 XRP per object, 100,000 new escrow objects would require approximately 20,000 XRP in additional reserves. Even at 1 million escrow objects, the reserve requirement rises to roughly 200,000 XRP.

In other words, Token Escrow strengthens the network’s settlement plumbing, but the near-term XRP reserve demand it creates remains minor relative to the volumes implied by the large exchange inflows of over $120 million.

That does not mean the network is stagnant. XRPL usage indicators have been improving.

XRPL DEX activity has surged, with a 14-day moving average of DEX transaction counts reaching about 1.014 million, a 13-month high, based on CryptoQuant data.

At the same time, Ripple’s stablecoin footprint is expanding, with RLUSD's market capitalization estimated at approximately $1.52 billion.

This is the paradox of the moment. Usage indicators can improve while price falls if the new activity does not translate into incremental XRP demand at the same pace as the supply and risk dynamics driving the market.

What investors are watching next, and the scenarios being tradedOver the next 4 to 12 weeks, XRP’s path is likely to hinge on whether supply signals cool faster than demand returns. The market is already pricing a set of scenarios, even if traders describe them differently.

One scenario is bear continuation, which would result in the token trading at approximately $1.10 to $1.35. In that path, whale-to-exchange flows stay elevated, and ETF flows remain inconsistent, keeping spot demand too soft to absorb supply.

Another is base-building, and XRP would oscillate between $1.35 to $1.80. In that version, exchange inflows plateau, and ETF flows stabilize into small net-positive weeks, allowing the price to form a floor even without a macroeconomic tailwind.

The third is a reflexive rebound, $1.80 to $2.40. This outcome would likely require a short streak of stronger ETF inflows or macro relief that collides with crowded bearish derivatives positioning, forcing cover and accelerating upside.

The core point is not the exact range. It is the mechanism. XRPL’s roadmap may strengthen the long-term case, but in the near term, XRP is still priced by the marginal buyer and seller.

Currently, the marginal signals are more supply arriving on exchanges, weaker ETF flow support, and a market mood that rewards caution.

If those inputs flip, even modestly, the same market that is ignoring institutional-grade upgrades today can reprice them quickly.

Mentioned in this articlePosted in

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Prominent cryptocurrency trader Willy Woo has taken to X to share his take on the gold-vs.-Bitcoin narrative that has been on the rise recently.

Woo commented on other users' X posts, saying he still supports Bitcoin and believes in its supremacy over gold. However, he does not believe that BTC will be able to move forward as “the new gold” in the next few years.

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Gold vs. Bitcoin in Willy Woo's viewWilly Woo commented on Henrik Zeberg’s X post, where he cited Cathie Wood, calling Bitcoin a “hedge against inflation and deflation.” Zeberg disagrees with Ark Invest’s CEO, saying that BTC is an ultimate risk asset.

Woo agrees with him, saying that Bitcoin “trades risk-on as an emerging asset,” while he believes gold to be “a hedge against inflation and deflation.”

Willy Woo believes that the market will one day embrace Bitcoin and its fundamental properties as “a better gold.” However, the trader reckons it is likely to happen in 15 or even 20 years, “when gold breaks.”

Responding to a comment by trader Bob Loukas, which he made to Woo’s tweet, Lukas stated that Bitcoin is “superior in so many ways.” However, Bitcoin will never have finality in a state, while “gold achieves complete finality for holders.”

Woo responded, partly agreeing with Bob Loukas, saying that Bitcoin has a better design. BTC will eventually beat gold, per Woo, but it “will take a lot more time,” while a lot of traders and investors “are too impatient over the timelines.”

For gold very few are able to take physical possession. Most settle for an IOU.

BTC has a better design and will win, but will take a lot more time.

People are too impatient over the timelines.

— Willy Woo (@willywoo) February 17, 2026 Robert Kiyosaki: Giant crash imminentKiyosaki, the renowned investor and author of the “Rich Dad Poor Dad” book, has published yet another prediction of a “giant crash” that he believes to be imminent.

He referred to his book “Rich Dad’s Prophecy” published back in 2013, where that prediction was first mentioned — about “the biggest stock market collapse in history coming.” Kiyosaki tweeted: “That giant crash is now imminent.”

I Am Warning You: In Rich Dad’s Prophecy published 2013 I warned of the biggest stock market crash in history still coming.

That giant crash is now imminent.

The good news is those of you who followed my rich dad’s warning and prepared….the coming crash will make you richer…

— Robert Kiyosaki (@theRealKiyosaki) February 17, 2026 Kiyosaki believes that this crash could make one richer beyond one's wildest dreams if one is prepared. Kiyosaki stated that he is prepared as he holds real assets — Bitcoin, Ethereum, silver and gold (no ETFs). In fact, he is so bullish on Bitcoin that he will continue to buy it as the price keeps going down, the tweet states.

Going into 2026, the banking giant Standard Chartered was consistently and decisively bullish regarding cryptocurrencies despite the decline from the October 2025 all-time highs (ATH) arguably being in full swing.

Indeed, the British behemoth with some $800 billion in assets under management (AUM) was forecasting very high 2026 year-end prices for multiple digital assets, with XRP – with a predicted rise to $8 – being no exception.

The situation has changed since, and Standard Chartered appears to be capitulating to the prevailing cryptocurrency market winds. In a Thursday note, the banking giant revealed it is slashing its XRP price target by a staggering 65%.

“Recent price action for digital assets has been challenging, to say the least. We expect further declines near-term and we lower our forecasts across the asset class,” the head of Standard Chartered’s head of digital assets research, Geoffrey Kendrick, wrote.

Still, it is notable that, as drastic as a 65% price target cut is, Standard Chartered remains surprisingly bullish about XRP. At press time on February 17, the token was changing hands at $1.45, meaning that the updated forecast for a $2.80 year’s end price still indicates a 91% rally is anticipated.

XRP price YTD chart. Source: Google Standard Chartered still remains bullish on crypto  XRP’s momentum since 2026 started makes such relative optimism somewhat unexpected. Specifically, the cryptocurrency started the year changing hands at $1.84, meaning it had collapsed 20.93% in approximately one and a half months. 

On the other hand, Standard Chartered’s $2.80 2026 XRP price forecast is consistent with the bank’s outlook for the greater cryptocurrency market. 

For example, the corporation reduced its Bitcoin (BTC) forecast from $150,000 earlier in February but elected to continue predicting a 2026 upside.

At press time, BTC is trading at $67,946 following a 22.27% year-to-date (YTD) crash.

BTC price YTD chart. Source: Google In stark contrast, Standard Chartered, even after the downward revision, estimates Bitcoin will rally 45% to $100,000 through the rest of 2026.

Featured image via Shutterstock

Vancouver, British Columbia--(Newsfile Corp. - February 17, 2026) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that, further to its news releases dated February 2, 2026, and February 5, 2026, the Company has acquired an additional 42% interest ("Property Interest") (for a total 71.58% Property Interest) in and to the Burnt Hill Tungsten Project (the "Burnt Hill Project") located in New Brunswick, Canada, pursuant to the purchase agreement dated January 30, 2026, as amended on February 4, 2026 (the "Purchase Agreement"), with Wyloo Ring of Fire Ltd. (the "Vendor"), an arm's length party (the "Acquisition").

Under the terms of the Purchase Agreement, the Company acquired the 42% Property Interest in consideration for the issuance to the Vendor of 3,931,094 common shares of the Company ("Common Shares" and as issued pursuant to the Acquisition, the "Consideration Shares") and 6,250,000 non-transferrable Common Share purchase warrants ("Consideration Warrants"), with each Consideration Warrant exercisable to acquire one Common Share at a price of $0.90 until February 17th, 2029. The Consideration Warrants are subject to a blocker term that prohibits exercise of the Consideration Warrants to the extent the Vendor would as a result of any exercise hold more than 19.99% of the issued Common Shares, unless the Vendor receives disinterested shareholder approval in accordance with the policies of the Canadian Securities Exchange (the "Exchange").

All securities issued pursuant to the Acquisition and issuable upon exercise thereof will be subject to a four-month and one day hold period pursuant to applicable securities laws and the policies of the Exchange. The Consideration Shares will also be subject to the following voluntary resale restrictions, which restrictions constitute an "Extended Hold" under the policies of the Exchange: (i) 15% of the Consideration Shares shall be restricted until each of the dates that are six, 12, 18, 24 and 30 months following the closing of the Acquisition and (ii) 10% of the Consideration Shares shall not be restricted.

No finder's fees were paid with respect to the Acquisition.

The Company currently holds a 71.58% Property Interest and has the option to earn up to the remaining 28.42% Property Interest from Cadillac Ventures Inc. (the "Optionor"), an arm's length party, pursuant to its option agreement dated October 3, 2025, (the "Option Agreement") with the Optionor and the Vendor. Please see the Company's news release dated December 12, 2025, for additional information on the Option Agreement.

About Wyloo Ring of Ring Ltd.

Wyloo delivers critical energy transition minerals and manages a diverse portfolio of strategic investments in several public and private companies. Through its subsidiary, Wyloo Ring of Fire Ltd., Wyloo's integrated nickel business includes the world-class Eagle's Nest Project in the Ring of Fire region of northern Ontario, as well as two nickel mines in Kambalda, Western Australia. Across its mines and development projects, Wyloo is working to deliver sustainable production of green critical minerals in partnership with First Nation communities.

Nexcel is pleased to have a globally recognized critical minerals investor as a major shareholder of the Company.

Figure 1: Burnt Hill Adjacent Properties Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11702/284106_nexcel%20metals.jpg

The Burnt Hill Tungsten Project

The Burnt Hill tungsten/molybdenum property covers approximately 1,540 hectares in central New Brunswick and hosts a NI 43-101 indicated resource of 1,761,000 tonnes within an open pit and underground averaging 0.292% WO3, 0.007% MoS2 and 0.008% SnO2, along with a further 1,520,000 inferred tonnes averaging 0.263% WO3, 0.008%MoS2 and 0.005% SnO2, as presented below. Also presented below, extracted from the 2013 Resource Report, is a statement of contained metal. In addition to the deposit area of the property, there are several other areas of identified tin, tungsten and molybdenum mineralization within the property boundary not yet at the resource stage.1

The contained metal represented by this resource statement after converting the metal compound to contained metal equivalents for the respective metal compounds is as follows:

(0.303% WO3) (79.29% Weight Percent Tungsten) (2,205 lbs/tonne) (527,000 tonnes) = 2.79
1,000,000

Mineral ResourcesTungstenMolybdenumTinContained Metal(million pounds)(thousand pounds)(thousand pounds)Open PitIndicated2.7934.8245.76UndergroundIndicated6.19130.46192.867TotalIndicated8.99162.91244.64Open PitInferred0.213.254.27UndergroundInferred6.79152.03124.86TotalInferred6.99160.7131.98Notes

References: (1) Strickland D., 2026, NI 43-101 Technical Report on the Burnt Hill Tungsten Project, New Brunswick, -66.82⁰ Longitude and 46.57% Latitude. Report prepared for the Company with an effective date of January 26, 2026 (the "Technical Report"). The information contained herein in respect of the Burnt Hill Project is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report, a copy of which has been filed with the applicable securities regulators and is available under the Company's profile on www.sedarplus.ca.Adjacent Properties: The Company has no interest in, or rights to, any of the adjacent properties mentioned, including the Slate Island Project, owned 100% by SQM Canada Inc., and exploration results on adjacent properties are not necessarily indicative of mineralization on the Company's properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any certainty of achieving similar results on the Company's properties.Historical Data: This news release includes historical information that has been reviewed by the Company's qualified person. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this presentation. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.Third-Party Mineral Projects: These deposits are cited solely for geological context. The Company cautions that these properties are not necessarily adjacent to, nor does the Company or have any interest in or control over them. Although certain geological features may be similar, there is no assurance that mineralization comparable to these deposits will be discovered on any of the Company's properties. Information regarding the aforementioned deposits is taken from publicly available sources and technical reports believed to be reliable, but has not been independently verified by the Company. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.Historical Resource Estimate: A Qualified Person has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current. The Company encourages readers to exercise appropriate caution when evaluating the Historical MRE. All scientific and technical information relating to the Burnt Hill Project pertaining to the Historical MRE contained in this news release is derived from the Historical Technical Report prepared by Southampton Associates Inc. for the Optionor. The information contained herein in respect of the Historical MRE is subject to all of the assumptions, qualifications and procedures set out in the [Historical Technical Report] and reference should be made to the full text of the Historical Technical Report, a copy of which has been filed with the applicable securities regulators and is available under the Optionor's profile on SEDAR+ (www.sedarplus.ca).Qualified Person

Francis Newton, P.Geo, a consultant of the Company and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical information contained in this news release. Mr. Newton is not independent of the Company.

Investor Relations

Further to the Company’s news release dated February 13, 2026, the Company wishes to clarify the three-month engagement (the “Engagement”) with Investor Insights Systems Inc (“Investor Insights”). Under the terms of the agreement, the Company will compensate Investor Insights USD $250,000, with an option to increase the advertising budget up to USD $500,000 (the “Budget”) during the Engagement. The Engagement will expire at either the end of the relevant time period or when the Budget is fully spent.

About Nexcel Metals Corp

Nexcel Metals Corp. is a junior mining company engaged in the acquisition, exploration and development of mineral properties. The Company is currently focused on the Lac Ducharme Project located in the Province of Québec and the Burnt Hill Project located in the Province of New Brunswick.

ON BEHALF OF THE BOARD OF DIRECTORS,

"Hugh Rogers"
CEO

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking statements in this news release include, among others, statements relating to the strategic vision for the Company following the completion of the Acquisition and expectations regarding exploration potential; future financial or operating performance of the Company following the closing of the Acquisition; the anticipated benefits and impacts of the Acquisition; the Company's acquisition of an additional Property Interest under the Option Agreement; potential for resource growth; the potential continuity, extent and characteristics of mineralization of the Company's mineral properties; the intended follow-up exploration activities and timing of future disclosures; the exploration and development of the Company; the development, operational and economic results of technical reports referenced herein and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The Canadian Securities Exchange and the Market Regulator (as defined in the policies of the Canadian Securities Exchange) have not reviewed, approved, disapproved or accepted responsibility for the contents, adequacy or accuracy of this news release.

1 Deposit Modeling & NI 43-101 Resource Estimate Burnt Hill Tungsten-Molybdenum-Tin Property Stanley Parish, York County, New Brunswick. Prepared by Southampton Associates Inc, August 1, 2013

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284106

Source: Nexcel Metals Corp.

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Boohoo Group PLC shares fell after the online retailer announced plans for a £35 million fundraising at a slight discount.

Notably, the shares fell 6.7% to 21p, above the proposed offer price of 20p. 

The company, which trades as Debenhams Group, said the equity raise would be coupled with intended changes to the group’s lending covenants to improve liquidity as it continues a turnaround strategy.

Broker Peel Hunt said the company "continues to scale well" and should generate gross merchandise value of over £550 million this year, with all youth brands profitable now.

Following the aggressive cost-reduction programme that has seen fixed costs cut from £292 million in the 2024 financial year to an exit rate of £130 million this year, with around a 70% headcount reduction and the consolidation of five diustricbution centres into one, the analysts forecast year-end net debt of about £100 million, with "a small FCF outflow, as the business becomes cash generative in FY27".

They added that Boohoo is "clearly bumping up against its debt covenants" on its £175 million facilities to August 2028, but the "balance sheet is stable, with the business moving into FCF generation regardless".

Analyst: [email protected] (+44 (0) 20 7418 8859)

Starboard stock has nearly halved in the past six months. Activist investor Starboard Value is pushing for radical changes.

Ms. Kazem brings extensive and global expertise in corporate governance and securities law, drawing on a distinguished track record as external legal counsel to leading life sciences companiesChief Legal Officer (CLO) appointment enhances leadership capabilities to advance three highly differentiated late-stage assets toward near-term clinical and regulatory milestones ZUG, Switzerland, February 17, 2026 -- Oculis Holding AG (Nasdaq: OCS / XICE: OCS) (“Oculis”), a global biopharmaceutical company focused on breakthrough innovations to address significant unmet medical needs in neuro-ophthalmology and ophthalmology, today announced the appointment of Katie Kazem as Chief Legal Officer, leading Oculis’ legal, compliance and corporate governance functions. Ms. Kazem brings extensive expertise in corporate and securities law, with a distinguished track record advising public and private life sciences companies on complex transactions and regulatory matters.

Riad Sherif, M.D., Chief Executive Officer of Oculis, stated “Katie joins Oculis at an exciting moment, with Privosegtor advancing into the PIONEER program with registrational trials for a novel neuroprotective platform and just ahead of the much-anticipated DIAMOND Phase 3 topline results for OCS-01 eye drops in DME, expected in Q2. This significant momentum reinforces our commitment to delivering transformational therapies. I look forward to working alongside Katie as we continue to make rapid progress across our highly differentiated pipeline and prepare for important late-stage clinical, regulatory, and commercial milestones."

Katie Kazem, Chief Legal Officer of Oculis, said “I am honored to be joining Oculis at such an important stage of the company’s journey to become a global leader in neuro-ophthalmology and ophthalmology. Over the past few years, I have had the privilege of serving as external legal counsel to Oculis since its listing on NASDAQ in March 2023, which allowed me to work closely with its exceptional executive team and board of directors, witness the company’s remarkable progress and unwavering business integrity, and gain deeper insight into its highly promising pipeline. I look forward to continuing this collaboration as we advance the company’s late-stage assets toward future clinical milestones and commercialization.”

Ms. Kazem brings to Oculis over 15 years of experience representing life sciences companies on US initial public offerings (IPOs), capital raising, M&A and strategic transactions, SEC compliance, and corporate governance. She joins Oculis from Cooley LLP, a leading international law firm, where she was a capital markets partner. At Cooley, she represented dozens of publicly traded life sciences and technology companies in their IPOs, acquisitions, follow-on offerings, and strategic licensing transactions. She has particular expertise in advising dual-listed biotechnology companies across Europe. Her experience spans both company-side and underwriter-side representations across the life sciences and technology sectors. Ms. Kazem earned her JD, magna cum laude, from George Mason University School of Law, a Master’s degree in Public Policy from George Mason University School of Public Policy, and a BA in Government from the College of William & Mary.

-ENDS-

About Oculis

Oculis is a global biopharmaceutical company (Nasdaq: OCS; XICE: OCS) focused on breakthrough innovations to address significant unmet medical needs in neuro-ophthalmology and ophthalmology. Oculis’ highly differentiated late-stage clinical pipeline includes three core product candidates: Privosegtor, a breakthrough neuroprotective candidate in the PIONEER program which consists of studies intended to support registration plans for treatment in optic neuropathies like optic neuritis (ON) and non-arteritic anterior ischemic optic neuropathy (NAION), with potentially broad clinical applications in various other neuro-ophthalmic and neurological diseases; OCS-01, an eye drop in pivotal registration studies, aiming to become the first non-invasive topical treatment for diabetic macular edema (DME); and Licaminlimab, a novel, topical anti-TNFα in Phase 2, which is being developed with a genotype-based approach to drive precision medicine in dry eye disease (DED). Headquartered in Switzerland with operations in the U.S. and Iceland, Oculis is led by an experienced management team with a successful track record and supported by leading international healthcare investors.

For more information, please visit: www.oculis.com

Oculis Contact
Ms. Sylvia Cheung, CFO
[email protected]

Investor Relations
LifeSci Advisors
Corey Davis, Ph.D.
[email protected]

Media Relations
ICR Healthcare
Amber Fennell / David Daley / Sean Leous
[email protected]

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements and information. For example, statements regarding the potential benefits of the Company’s product candidates, the initiation, timing, progress and results of current and future clinical trials, Oculis’ research and development programs, regulatory and business strategy, including planned interactions with the FDA; Oculis’ future development plans; the timing or likelihood of regulatory filings and approvals; statements about market opportunity, and the Company’s expected financial position and cash runway, are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the U.S. Securities and Exchange Commission (SEC). Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Continued financial pressures evident as balances reach highest level since FICO records began

LONDON--(BUSINESS WIRE)--FICO (NYSE: FICO):

Average balances for customers with missed payments remain significantly higher compared to 2024

Share Analysis of credit card data for December 2025 by global analytics software leader FICO shows typical seasonal trends for increased spending. However, balances reached the highest level seen since FICO began analysing credit card data, while payments remained stable. With the start of the new year typically seeing consumers facing the reality of Christmas spending, there’s the potential for increased financial stress at the start of the new year.

Highlights

Spending rose by 5.6% from November to December, reaching an average of £830, however it was 3.5% lower than December 2024 continuing the pattern seen since March Average active balances rose to the highest level since FICO records began, up 1.7% on November and 4.8 year-on-year to £1,950 The percentage of overall balance paid stabilised at 33.4% in December – 0.1% higher than November but 6.8% lower year-on-year Following seasonal trends customers missing one payment increased 6.4% month-on-month. The percentage missing three payments increased 3.7% month-on-month and 4.9% year-on-year Average balances for customers with missed payments remain significantly higher compared to 2024 FICO Comment:

For the second month, low payment rates (33.4%) and high pre-Christmas spending led to rising average balances. These trends signal continued financial stress for consumers, with balances continuing their persistent upward trend seen in recent years. It is expected that payment rates will increase in January as consumers traditionally focus on paying off Christmas spend in the New Year.

December typically sees the number of customers missing one payment increase and 2025 was no exception, as consumers prioritised new spending over repaying balances. With the higher cost of living, average balances for delinquent customers remain significantly elevated compared to 2024. With more customers having missed three payments, and balances for this group having risen compared to the previous month and previous year, the most financially stressed are facing continued challenges.

The record-high average active balance of £1,950, combined with payment rates remaining low, highlights the affordability challenges facing UK consumers. Risk teams should prepare for potential payment stress in January and February with enhanced monitoring of payment patterns and proactive intervention strategies critical.

Key Trend Indicators – UK Cards December 2025

Metric

Amount

Month-on-Month Change

Year-on-Year Change

Average UK Credit Card Spend

£830

+5.6%

-3.5%

Average Card Balance

£1,950

+1.7%

+4.8%

Percentage of Payments to Balance

33.4%

+0.1%

-6.8%

Accounts with One Missed Payment

1.4%

+6.4%

-4.3%

Accounts with Two Missed Payments

0.3%

-1.2%

+3.1%

Accounts with Three Missed Payments

0.2%

+3.7%

+4.9%

Average Credit Limit

£5,930

+0.2%

+2.4%

Average Overlimit Spend

£95

+3.3%

+2.2

Cash Sales as a % of Total Sales

0.8%

-9.7%

+5%

Source: FICO

These card performance figures are part of the data shared with subscribers of the FICO® Benchmark Reporting Service. The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80% of UK card issuers. For more information on these trends, contact FICO.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at www.fico.com.

FICO and TRIAD are registered trademarks of Fair Isaac Corporation in the United States and other countries.