Market Signal Briefing

Rowena Smith
CEO, MD & Director

Thank you very much, and welcome to everybody who's on the call. This is an exciting day for both ASM and Energy Fuels, and we are very happy to be presenting to you today together on the announcement that we've had this morning of Energy Fuels' offer to acquire Australian Strategic Materials.

We do have a disclaimer, which I would encourage you to read at your own leisure. And I'm going to go straight into what, for me, is a very exciting day as we are really delivering on what we've been working on here in ASM since we listed in mid-2020 to deliver on our mine-to-metal strategy.

What we've got here with this transaction, we believe, is an opportunity in combination with Energy Fuels to deliver a near-term Western mine to metal and alloy rare earth champion. And again, we are very excited about it.

The transaction overview is that we have entered into a scheme implementation deed with Energy Fuels that has an implied value as at Friday of AUD 1.60 per ASM share.

Under the scheme, what ASM shareholders will be entitled to receive is a fixed ratio of Energy Fuels' shares. That ratio is 0.053. And I think this has been important for us within ASM that we wanted to make sure that shareholders had the opportunity, the ASM shareholders had the opportunity to be able to benefit from the synergies that we know that we're going to be able to create in the combined assets of ASM and Energy Fuels.

So it is a fixed-ratio deal as at Friday

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has raised $150 million through a bond offering in the United States to help fund development of its Bilboes gold project in Zimbabwe, a move the company says puts it on track to begin major procurement later this year.

The Jersey-based miner said the debt sale attracted strong demand from American investors, with total orders exceeding $600 million.

The company initially aimed to raise $100 million but increased the size of the deal twice during marketing, eventually closing on $150 million after underwriters exercised their full option to purchase extra notes.

Mark Learmonth, Caledonia’s chief executive, said: “Receiving more than $600 million of demand from high-quality North American investors is a tremendous endorsement of our strategy, the quality of our assets, our operational track record, and the long-term prospects of the company.”

The deal was led by Cantor Fitzgerald and consisted of convertible senior notes, a form of debt that pays interest but can also be converted into shares under certain conditions.

The notes will mature in 2033 and pay annual interest of 5.875%. Caledonia also bought options that limit how much equity it would need to issue if the bonds are converted into shares, a tactic known as a capped call.

After fees and hedging costs, the company said it would retain about $130 million in net proceeds.

The fundraising forms part of a broader four-part financing plan to bring the Bilboes mine into production. Caledonia acquired the project in 2022 and published a feasibility study in November last year.

Alongside the convertible bond issue, the company has locked in a minimum gold price of $3,500 per ounce on 3,000 ounces per month of production from its existing Blanket Mine.

This hedging arrangement runs until the end of 2028 and is intended to protect revenues during Bilboes’ development phase.

A third plank of the funding strategy is a planned interim facility of up to $150 million from regional banks in Zimbabwe and South Africa, which Caledonia hopes to secure by mid-2026. The facility would be backed by Blanket Mine’s cash flows.

Finally, the company expects to launch a formal process for long-term project finance later this quarter, in talks with both regional and international lenders. That process, which typically includes independent technical reviews, could take more than a year.

Learmonth said the staged approach would allow Caledonia to begin ordering long lead equipment for Bilboes in the third quarter, while maintaining “prudent capital discipline”.

He added: “This structured approach allows us to manage risk, minimise dilution and position Bilboes as the next large scale, long life, gold production hub in Zimbabwe.”

Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A), the British battery technology company, has received its first commercial order from Cirtec Medical for components used in its miniature solid-state batteries — a deal that marks the company’s move from R&D into revenue-generating production.

The order, announced today, covers the supply of electrodes, conductive elements at the heart of Ilika’s Stereax batteries, and follows more than two years of development work with Cirtec, a US-based manufacturer of implantable medical devices. Ilika delivered initial prototypes in December.

Cirtec will use the electrodes to ramp up manufacturing of its Stereax M300 batteries, which are designed for powering a new generation of medical implants, including neurostimulators, orthopaedic and orthodontic devices, and implanted sensors.

Ilika said the order signals “the commercial transition of this strategic partnership”.

The companies first formalised their relationship in 2023, with Ilika retaining some production capability at its UK facility to support Cirtec, which manufactures the batteries at its site in Massachusetts. Ilika will now act as a supplier of key materials for scaled-up production.

The Stereax M300 battery is currently being tested by 21 customers in the medical technology sector, according to the company.

Graeme Purdy, Ilika’s chief executive, said: “The receipt of this first commercial electrode order validates the strong market momentum building behind our Stereax technology and demonstrates the successful execution of our production strategy.”

Shawn Martin, vice-president at Cirtec Medical, added: “This marks an important transition from the earlier stages of technology transfer to commercial production coordinated from our facility here in the USA.”

The two companies are expected to showcase the technology at industry events in the US over the coming weeks, including the North America Neuromodulation Society’s annual meeting in Las Vegas and the MD&M West medical device conference in California.

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

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

The Top 100 organizations lead the way in innovation, contributing an exceptional 16% of the world's highest-strength AI inventions 

, /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today announced the 15th edition of its Top 100 Global Innovators. This annual benchmark celebrates the organizations that consistently deliver high-impact inventions, shaping the future of innovation across industries. The 2026 report reveals how innovation leadership is shifting from scale to precision, and how artificial intelligence (AI) is accelerating this transformation.

Clarivate Reveals Top 100 Global Innovators 2026 The Top 100 Global Innovators navigate complexity with clarity and set the pace for invention quality, originality and global reach. These organizations account for a disproportionate share of the world's most valuable ideas, demonstrating that innovation leadership is defined by precision and strategic intent. This year's ranking not only celebrates enduring innovation leadership, but it also reveals the forces reshaping that leadership, with AI at the forefront.

Maroun S. Mourad, President, Intellectual Property, Clarivate, said: "Recognition as a Top 100 Global Innovator is a remarkable achievement given the pace of change and in the 2026 edition, we feature 16 all-time recipient organizations. Multi-year winners and new entrants are investing in AI innovation as it redefines the boundaries between research, engineering and commercial execution. The leaders we celebrate today are not just responding to this shift, they are designing for it."

AI is no longer a side story; it has become part of the fabric of innovation. The Top 100 Global Innovators 2026 analysis shows that AI-related patent activity has surged dramatically in recent years, with filings doubling repeatedly since 2019 and more than one million invention specifications published by mid-2025. Generative AI and deep learning have grown at an extraordinary pace, making them the fastest-moving frontiers in technology. Within this landscape, the Top 100 Global Innovators account for 16% of the world's strongest AI inventions, underscoring that leadership today is about quality and strategic clarity, not just volume.

Japan continues to lead the global innovation landscape, with 32 organizations named. It also holds five of the top 10 ranked positions, followed by Mainland China and South Korea, each with two and the United States with one. Following Japan, the United States, with 18 organizations, Taiwan, with 12, and Germany and South Korea, both with eight, remain the largest contributors overall. Countries/regions showing growth in organizations listed include Mainland China, and the Netherlands, while Ireland and Saudi Arabia return to the list this year.

Other key findings from the 2026 report include:

Samsung Electronics retains its position as the #1 ranked global innovator. Six companies awarded Top 100 status for the first time: Aptiv, CXMT, GE Vernova, Silicon Motion, Subaru and ZTE. Six companies re-enter the Top 100: Apple, KLA, LG Display, Saudi Aramco, Signify and TCL Technology. 16 all-time recipient organizations retained Top 100 Global Innovator status: Boeing, Dow, Ericsson, Fujitsu, Hitachi, Honda, Honeywell, LG Electronics, NEC, Panasonic, Qualcomm, Samsung Electronics, Shin-Etsu Chemical, Sony, Toshiba, and Toyota. The Top 100 Global Innovators analysis is underpinned by the Clarivate Center for IP and Innovation Research. Their analyses are founded in rigorous research leveraging the proprietary Derwent Strength Index, derived from the Derwent World Patents Index (DWPI) and its global invention data to measure the influence of ideas, their success and rarity, and the investment in inventions.

To learn more, please visit our Top 100 Global Innovators 2026 site.

Detailed Methodology
The Top 100 Global Innovators uses a complete comparative analysis of global invention data to assess the strength of every patented idea, using measures tied directly to their innovative power. To move from the individual strength of inventions to identifying the organizations that create them more consistently and frequently, Clarivate sets two threshold criteria that potential candidates must meet and then adds a measure of their internationally patented innovation output over the past five years.

For full information, please visit our Top 100 Global Innovators 2026 methodology site.

About Clarivate Center for IP and Innovation Research
The Clarivate Center for IP and Innovation Research empowers organizations worldwide to excel by providing expert guidance grounded in pioneering benchmarks and data-driven insights. Bringing together senior practitioners, consultants and data analysts, the Center performs research to establish and disseminate benchmarks that guide management and strategy. It works with legal, IP and innovation leaders to optimize IP operations and technology and improve IP decision-making, supported by industry-leading data, analytics and proven practices.

About Clarivate
Clarivate is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com

Media contact:
Sofia Nogués, Sr. External Communications Manager
[email protected] 

SOURCE Clarivate Plc

High-grade uranium mineralization confirmed across the Harrier Uranium Project, including the Snegamook Uranium Deposit, Moran Heights, Brook, and newly identified showings, reinforcing the project's district-scale potential.Snegamook Uranium Deposit re-sampling confirmed high-grade uranium, validating historic results and highlighting potential for higher-grade lenses within the deposit.Multiple surface samples returned high-grade uranium, including 6.28% U₃O₈ at the Brook showing and up to 2.27% U₃O₈ along the Moran Heights trend, demonstrating strong near-surface mineralization across the property.Two new uranium showings identified at Boiteau Lake North Extension and Anomaly 7 East, expanding the known footprint of uranium mineralization.Snegamook Uranium Deposit prioritized for 2026 drilling, with historical drilling confirming uranium mineralization over 20-50 m widths in the same geological setting as the nearby on-trend Two Time Zone Deposit. Vancouver, British Columbia--(Newsfile Corp. - January 21, 2026) - AZINCOURT ENERGY CORP. (TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company"), is pleased to announce that assay results have been received for samples collected during the summer 2025 prospecting program at its Harrier Uranium Project (the "Harrier Project"), located in the Central Mineral Belt in Newfoundland & Labrador, Canada.

Harrier Project

Azincourt's Harrier Project covers 49,400 hectares over five distinct licence groups, representing one of the largest land positions in the Central Mineral Belt. The Harrier Project contains the Company's Snegamook Uranium Deposit and straddles key uranium-bearing structural corridors directly adjacent to and on trend with Atha Energy's Moran Lake (9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅) and Anna Lake (4.9 Mlbs U₃O₈) deposits, and Paladin Energy's Michelin deposit (127.7 million lbs U₃O₈) - placing Azincourt at the center of a proven and growing uranium camp.

The Harrier Project, with over a dozen known uranium mineralization zones and surface rock samples grading up to 7.48% U₃O₈ (and >1.0% U₃O₈ in 10 distinct zones), offers a rare combination of grade, scale, and geological continuity. Notably, only 124 drill holes (19,851 metres total, over half of this on the former Snegamook Uranium Deposit area) have ever been completed across the combined property, leaving ample opportunity for new discovery with modern methods.

2025 Summer Work Program

The summer 2025 work program (see news release dated Oct 1, 2025) consisted of helicopter supported reconnaissance of existing identified uranium occurrences and prospecting of previously identified radiometric anomalies.

"We are very encouraged by the results of the summer 2025 program," commented Trevor Perkins, Azincourt Energy's VP of Exploration. "The assay results have demonstrated that the potential for high-grade uranium deposits exist on the Harrier Project. We have no shortage of targets that have returned decent uranium values and now require drilling to realize their full potential", continued Mr. Perkins.

Snegamook Uranium Deposit

At the Snegamook Uranium Deposit area, a 10 cm check sample collected from drill hole SN-08-06 returned a grade of 2.71% U3O8. This sample came from an interval where historical sampling had indicated 0.97% U3O8 / 0.5 m. This was the best mineralized interval from the historical drilling on the Snegamook Uranium Deposit. A 10 cm check sample collected from SN-08-18, which intersected the uranium showing to the southeast of the Snegamook deposit (Figure 5), returned 0.35% U3O8. These samples confirm the quality of mineralization within the vicinity of the Snegamook deposit and highlight the potential for higher grade lenses within the deposit itself.

The Snegamook Uranium Deposit will be the priority for the Summer 2026 drill campaign, where drilling in 2007 and 2008 to follow up a radon gas anomaly identified uranium mineralization located 1.3 km along strike to the southeast of the Two Time Zone (Indicated and Inferred resource of 5.55 Mlb U3O8, Silver Spruce Resources, June 2008). 17 drill holes intersected a 20 to 50 m wide section of uranium bearing brecciated and altered monzodiorite with moderate to strong chlorite, hematite and carbonate alteration, the same geological setting as the Two Time Zone. (Figure 5)

Moran Heights and New Areas

Sampling along the Moran Heights trend returned up to 2.27% U₃O₈. Drilling will be required to trace this mineralization under the nearby escarpment. Moran Heights is approximately 8 km along strike to the northeast of Atha Energy's Moran Lake uranium-vanadium deposit (9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅) with a similar geologic setting. At Moran Lake uranium mineralization occurs in two zones labelled as Upper C Zone and the Lower C Zone. Within the Upper C Zone, mineralization is hosted within brecciated, variably hematite-altered mafic volcanics and haematitic cherts, and the Lower C Zone hosts uranium mineralization within chloritized sandstones.

At the Brook showing, a sample returned 6.28% U₃O₈, where previous sampling had given 4.86% U₃O₈. This showing is a small showing where focussed ground based radiometric surveys, soil sampling and trenching will be employed to trace mineralization under surrounding cover.

Two new uranium showings were identified in outcrop in the Boiteau Lake area, called Boiteau Lake North Extension, and in boulders and outcrop east of the Anomaly 7 area, called Anomaly 7 East.

On the Minisinakwa claim group, two boulder samples returned grades of 1.02% and 1.79% U₃O₈ in a magnetite rich metasediment. The source of the mineralized boulders is still unknown on this trend.

43 hand samples were collected and sent to ACT Labs in Ancaster, Ontario for analysis. Assay results have been received and are given in Table 1. Results are very promising and demonstrate the potential of the project lands to host multiple uranium deposits.

Table 1: Uranium Assay Results from 2025 prospecting program.

Sample NumberClaimTypeArea% U3O8SRC698001032169MOutcrop
0.14SRC698002032168MBoulderMoran Heights2.27SRC698003032249MOutcropAnomaly 170.19SRC698004032239MOutcropWhisky Jack0.06SRC698005033544MOutcropWhisky Jack0.01SRC698006033544MOutcropWhisky Jack0.08SRC698007032225MBoulderMinisinakwa0.72SRC698008032233M
Anomaly 7 East0.52SRC698051033545MOutcropBrook6.28SRC698052036450McoreSnegamook SN-08-180.35SRC698053036450McoreSnegamook SN-08-062.71SRC698054033544MOutcropBoiteau N Ext0.08SRC698101033545M

0.14SRC698102033545M

0.03SRC698103033545MBoulder
0.01SRC698104033544MBoulder
0.01SRC698105032239MOutcrop
0.03SRC698106032239MOutcrop
0.06SRC698107033544MOutcrop
0.00SRC698108033544MOutcrop
0.14SRC698109027386MBoulderMinisinakwa1.02SRC698110037744MBoulderAnomaly 7 East0.11SRC698111032233MBoulderAnomaly 7 East0.26SRC698112032233MBoulderAnomaly 7 East0.44SRC698151032169MOutcrop
0.40SRC698153032239MBoulderWhisky Jack1.48SRC698154032239MBoulder
0.36SRC698155032239MBoulderWhisky Jack0.03SRC698156033544MOutcrop
0.02SRC698157033544MOutcrop
0.01SRC698158032170MOutcrop
0.03SRC698159032233MBoulderAnomaly 7 East0.15SRC698160032233M
Anomaly 7 East0.48SRC698161032233M
Anomaly 7 East0.15SRC698202027386MBoulderMinisinakwa0.14SRC698203032169MOutcrop
0.32SRC698204033545MBoulder
0.07SRC698205033545MBoulder
0.01SRC698206033545MOutcrop
0.00SRC698207033544MOutcropBoiteau N Ext0.22SRC698208032225MBoulderMinisinakwa1.79SRC698209032233MBoulderAnomaly 7 East0.242026 Field Program

A diamond drilling program currently being planned will consist of approximately 2,000 m of drilling in 6-10 drill holes. It is anticipated that the program will commence once the snow melts and lakes are ice free. The majority of the drilling will be conducted on the Snegamook Uranium Deposit; however, a few holes will target other showings in preparation for a larger program to follow. Ground based grided radiometric surveys and soil sampling will be conducted over several showings to refine target locations for drilling. Anomaly 7 and Boiteau Lake are both considered drill ready targets at this time, while the Brook and Minisinakwa showings, where the some of the better assay samples were collected, both require additional prospecting to refine initial drill targets.

In 2008, a preliminary resource estimate for the Snegamook Uranium Deposit was prepared by Silver Spruce Resources, however it was never finalized in a report or filed. Work to be conducted as part of the 2026 drill program will include:

Rehabilitate and examine drill core from the Snegamook Uranium Deposit at the Kanairiktok core storage.Engage an independent QP to examine the available core and consult on additional drilling at the deposit as part of preparing a maiden resource estimate.Twin key drill holes at the deposit to confirm historical mineralization.Conduct additional drilling to expand the size of the existing deposit.Diamond drilling and preparing an updated NI 43-101 compliant resource for this deposit will be a priority for Azincourt. It is anticipated that the drilling planned in 2026 will be sufficient to prepare a resource estimate.

Figure 1: Azincourt land position overlain on the geology of the Central Mineral Belt, Labrador, Canada

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/281012_c0bac077447188d6_002full.jpg

Figure 2: Azincourt's Harrier Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/281012_c0bac077447188d6_003full.jpg

Figure 3: Map of uranium sample locations from 2025 summer prospecting program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/281012_c0bac077447188d6_004full.jpg

Figure 4: West block of the Harrier Project with uranium showing locations and 2025 uranium samples highlighted. Samples are coloured based on % U3O8.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/281012_c0bac077447188d6_005full.jpg

Figure 5: Snegamook and Two-Time Zone mineralization map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/281012_c0bac077447188d6_006full.jpg

About the Central Mineral Belt

Labrador's Central Mineral Belt ("CMB") is one of Canada's most underexplored yet highly prospective uranium regions. Known for its numerous uranium and base metal deposits and showings, the CMB has seen renewed interest due to growing global demand for secure, domestic uranium supply as countries aim to increase nuclear power capacity to meet net-zero emissions goals.

The CMB hosts multiple large-scale uranium discoveries, including Paladin Energy's Michelin Uranium Project (127.7 million lbs U₃O₈), the Moran Lake C Deposit (historical resource of 9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅), and the Anna Lake Deposit (historical resource of 4.9 Mlbs U₃O₈). These known resources demonstrate the Belt's exceptional uranium endowment - but vast areas remain underexplored, with modern techniques only recently being applied across the region.

With its stable jurisdiction, historical high-grade discoveries, and modern exploration momentum, the CMB is emerging as one of North America's most exciting uranium exploration corridors.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved on behalf of the Company by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.

About Azincourt Energy Corp.

Azincourt is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its East Preston uranium project located in the Athabasca Basin, Saskatchewan, and its Snegamook and Harrier uranium projects, located in the Central Mining Belt of Labrador.

*The historical results, interpretation and drill intersections described here in have not been verified and are extracted from news releases issued by Silver Spruce Resources Inc on April 24, 2008, and August 12, 2008, as well as annual Management Discussion and Analysis documents filed on www.sedarplus.ca, and Koba Resources Limited on April 11, 2024, and August 20, 2024, which can be found at https://kobaresources.com/investors/asx-announcements/. The Company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The Company considers the historical work a reliable indication of the potential of the Harrier Project and the information may be of assistance to readers.

The information on the Michelin, Morin Lake C, and Anna Deposits has been extracted from the websites and investor presentations of Paladin Energy Limited and Atha Energy Corp.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

"Alex Klenman"
Alex Klenman, President & CEO

For further information please contact:

Azincourt Energy Corp.
1430 - 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281012

Source: Azincourt Energy Corp.

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Key Takeaways BHP delivered record iron ore and copper production, aided by low-cost WAIO operations and portfolio shifts.Vale reported iron ore, copper and nickel output near target highs while expanding its base metals pipeline.BHP and VALE both show rising estimates, solid production guidance and exposure to energy-transition demand. BHP Group Limited (BHP - Free Report) and Vale S.A. (VALE - Free Report) are among the world’s largest iron ore producers and diversified miners, making them competitors in the global metals and mining sector. Both companies are positioned to benefit as infrastructure investment picks up worldwide and long-term demand grows for steel, copper, lithium, nickel and other minerals essential for clean energy technologies.

BHP has a market capitalization of $165 billion, while VALE has a market capitalization of $66 billion.

For investors interested in this space, let's analyze which stock is better positioned for upside, BHP or Vale. A closer look at their fundamentals, growth drivers and key risks can offer clarity.

The Case for BHPBHP produced a record 263 Mt of iron ore in fiscal 2025, within its guided 255-265.5 Mt and up 1% year over year. Production at Western Australia Iron Ore (WAIO) was a record of 257 Mt (290 Mt on a 100% basis). WAIO has been the lowest-cost iron ore producer globally for more than four years.

The upside continued in the first half of fiscal 2026 with iron ore production increasing 2% year over year to 134 Mt. WAIO reported a record first half production of 130 Mt, aided by strong supply-chain performance.

For fiscal 2026, BHP continues to expect iron ore production of 258-269 Mt. WAIO’s output is likely to be 251-262 Mt (284-296 Mt on a 100% basis). This factors in the planned renewal of Car Dumper 3 (CD3) and the ongoing tie-in activities for Rail Technology Program 1 (RTP1).

BHP continues to reshape its portfolio toward commodities such as copper and potash, allocating nearly 70% of its medium-term capital expenditure to these areas. This strategy positions the company to benefit from decarbonization, electrification, population growth and rising living standards in emerging markets.

Copper production reached a record 2,017 kt in fiscal 2025, the first time BHP crossed the 2,000-kt milestone. Output has risen 28% over the past three years, reflecting sustained investment.

In the first half of fiscal 2026, copper production remained constant year over year at 984 kt. BHP increased its fiscal 2026 copper output guidance to between 1,900 and 2,000 kt from prior stated 1,800-2,000 kt.

BHP is also advancing the Jansen Stage 1 potash project, a large-scale, low-cost, high-grade resource with a mine life exceeding 100 years. It has been 75% completed and BHP is working toward its first production by mid-2027. Once operational, Jansen Stage 1 is expected to produce 4.15 million tons of potash annually. Stage 2 of the project has been 14% completed and is expected to deliver its first production in fiscal 2031.

These investments will transform Jansen into one of the world’s largest potash mines, doubling production capacity to 8.5 million tons per year, positioning BHP as a major global producer of potash by the end of the decade.

The Case for ValeVale recently stated that iron ore production for 2025 was around 335 Mt, at the higher end of its targeted 325-335 Mt. Copper output was around 370 kt in 2025, also meeting the high end of its targeted 340-370 kt. Nickel output was reported at 175 kt compared with the company’s target of 160-175 kt.

Vale is also investing heavily in the base metals business to benefit from the global energy transition. The company’s capex plans for the business are $1.6 billion in 2026 and $2 billion from 2027 onward.

In 2026, Vale's copper production is expected to be between 350 kt and 380 kt, and reach 420-500 kt as of 2030 and 700 kt by 2035. With these projections, Vale promises a 7% CAGR over 2024-2035 versus the 4% average for peers.

The Bacaba project will extend the life of the Sossego Mining Complex, contributing an average annual copper output of 50 ktpy over an eight-year mine life. Production is expected to start in the first half of 2028. Other projects, such as Salobo Coarse Particle Flotation (CPF), Alemão and Cristalino, will increase Vale’s copper production capacity.

Vale recently signed an agreement with Glencore Canada (Glencore) to jointly evaluate a potential brownfield copper development project at their adjacent properties in the Sudbury Basin, with an expected start-up in 2030. Vale plans to hit 700 kt levels by 2035, primarily through the accelerated development of assets in the North and South hubs in the Carajás region.

For 2026, Vale expects its nickel production between 175 kt and 200 kt, reflecting replenishment projects in Canada, exposure to Pomalaa and Morowali, and the start-up of the second furnace at Onça Puma. For 2030, nickel production is anticipated at 210-250 kt, with input from projects such as Thompson Ultramafics, Sorowako HPAL, partnership projects and offtake.

How do Estimates Compare for BHP & VALE?The Zacks Consensus Estimate for BHP’s fiscal 2026 earnings indicates a year-over-year rise of 23.1%. The estimate for earnings for fiscal 2027 reflects a 1.9% drop.  Both the earnings estimates for fiscal 2026 and fiscal 2027 for BHP have moved up over the past 60 days. 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Vale’s 2025 earnings of $2.07 per share indicates year-over-year growth of 13.7%. The Zacks Consensus Estimate for Vale’s 2026 earnings is $2.08 per share, which projects a 0.4% rise. Both the EPS estimates for Vale for fiscal 2025 and fiscal 2026 have been revised upward in the past 60 days.

Image Source: Zacks Investment Research

BHP Group & Vale: Price Performance & ValuationIn a year, BHP stock has appreciated 36.7%, lagging Vale, which has gained 92.2%. 

Image Source: Zacks Investment Research

BHP is trading at a forward price-to-sales multiple of 3.17X, while VALE’s forward sales multiple sits at 1.63X.

Image Source: Zacks Investment Research

BHP or VALE: Which is a Better Pick?BHP and Vale are both well-positioned for durable long-term growth, backed by resilient iron ore operations. A supportive commodity price backdrop and rising earnings estimates further support the stocks. However, an attractive valuation and a stronger one-year price performance strengthen the investment case for Vale.

Investors seeking exposure to the iron mining space might consider VALE to be the more favorable option at this time.

Both VALE and BHP currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Burberry Group PLC (LSE:BRBY) reported a further improvement in comparable sales growth in the past quarter, supported by solid performances across all regions and continued demand for its core outerwear and scarf categories.

Comparable store sales were up 3% in the 13 weeks to 27 December, the third quater of the FTSE 100 group's financial year, improving from the 2% growth in the second quarter and a 1% decline in the first. 

Retail revenue for the third quarter rose 1% to £665 million, or 3% at constant currency rates, with the fashion house saying it delivered "a higher quality of revenue" with a shorter, more discreet markdown period compared to the prior year.

Growth in Greater China accelerated to 6%, while Asia Pacific was up 5%, supported by a 13% increase in South Korea.

Burberry highlighted growing engagement with Gen Z consumers in Greater China and Asia Pacific and noted stronger retail productivity, helped by festive activations and visual merchandising enhancements, including the rollout of "scarf bars".

Sales in the Americas increased 2%, while EMEIA was flat due to continued weakness in tourist spending.

Chief executive officer Joshua Schulman said: “During the festive quarter, we continued to build momentum with our Burberry Forward strategy, delivering sequential improvement in comparable sales growth and an improved quality of revenue across channels and geographies.”

He added: “Our customers responded to our immersive Timeless British Luxury campaigns and experiences, while the continued strength in our core outerwear category is now extending into accessories and ready-to-wear.”

The company expects adjusted operating profit for FY26 to be in line with market consensus.

Montreal, Quebec--(Newsfile Corp. - January 21, 2026) - Defence Therapeutics Inc., (CSE: DTC) (FSE: DTC) (OTCQB: DTCFF) ("Defence" or the "Company"), a publicly traded biotechnology company, today announced an evolution of its corporate positioning to reflect its focus as a precision intracellular drug-delivery company advancing its proprietary Accum® platform through both internal development programs and strategic partnerships. Designed to unlock the full potential of complex cancer biologics, Accum® enhances intracellular delivery to increase therapeutic potency while reducing toxicity.

At the center of this strategy is Accum®, Defence Therapeutics' proprietary precision drug-delivery platform designed to solve one of oncology's most persistent challenges: effective intracellular delivery. By enhancing cellular uptake and payload release, Accum® increases therapeutic potency at lower doses, with the potential to reduce toxicity and improve patient access to advanced cancer treatments.

Defence is prioritizing this platform and partnering model through a dual strategy that combines internal R&D programs with strategic partnerships across the biotech and pharmaceutical ecosystem. This approach enables the enhancement of both existing and next-generation assets, including antibody-drug conjugates (ADCs), radiopharmaceuticals, and other complex biologics, transforming therapies traditionally used in later lines into safer, more effective first-line treatment options.

"Our focus is clear: solve drug delivery at the cellular level so cancer therapies, whether developed by Defence or by our partners, can reach their full potential," said Sébastien Plouffe, CEO of Defence Therapeutics. "Accum® is designed to create optimal value for partners while ultimately delivering better outcomes for patients."

With this refined positioning, Defence Therapeutics reinforces its commitment to precision oncology, collaboration, and translating cutting-edge science into life-changing treatments, with a business model designed to generate scalable value for partners and long-term value for shareholders. To learn more or explore partnering opportunities, please visit www.defencetherapeutics.com or contact [email protected].

About Defence Therapeutics:

Defence Therapeutics is a publicly traded biotechnology company committed to making cancer treatment more effective and safer. Using its Accum® precision drug delivery platform, Defence is working to enhance the potency of ADCs and other complex biologics at lower doses, with the goal of reducing side effects and improving access to advanced therapies. By pursing cutting edge science, and collaborating with pharma and biotech partners, Defence strives to bring transformative therapies to patients who need them most. To learn more about Defence Therapeutics and explore partnering opportunities, please visit www.defencetherapeutics.com or contact [email protected].

Cautionary Statement Regarding "Forward-Looking" Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, 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.

Neither the CSE nor its market regulator, as that term is defined in the policies of the CSE, accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280931

Source: Defence Therapeutics Inc.

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Joachim Nagel, president of the Bundesbank and a member of the ECB's Governing Council, tells CNBC's Karen Tso that potential U.S. trade tariffs on Europe could create a highly challenging scenario and force the ECB to rethink its monetary policy outlook for 2026.

Netflix Inc (NASDAQ:NFLX, XETRA:NFC) shares fell more than 5% in after-hours trading on Tuesday, wiping $19 billion off the company’s market value, after the streaming giant issued a weaker-than-expected forecast for the first quarter.

The stock looks set to extend losses when markets open in New York.

For the current quarter, Netflix expects to generate $12.16 billion in revenue, a 15.3% increase year-on-year but just below Wall Street’s $12.18 billion forecast. Earnings per share are projected at $0.76, short of the $0.81 analysts were looking for.

The disappointing outlook overshadowed stronger-than-expected fourth-quarter results. Revenue rose 17.6% to $12.05 billion, ahead of expectations, while earnings per share of $0.56 slightly topped consensus.

Netflix also reported that it surpassed 325 million subscribers during the holiday period.

For the full year, Netflix delivered $45.2 billion in revenue, up 16% and marginally ahead of forecasts. Earnings per share came in at $2.53, in line with estimates.

The company guided 2026 revenue in the range of $50.7 billion to $51.7 billion, representing growth of up to 14% — consistent with analyst expectations.

On-chain data shows the largest of Chainlink whales have been accumulating recently even as the cryptocurrency’s price has slipped below $13.00.

Top 100 Chainlink Whales Have Been Expanding Their Supply In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the holdings of the 100 largest addresses present on the Chainlink network.

This category of holders naturally includes the large whales, investors who carry sums significant enough to have some influence on the blockchain. As such, their combined supply can be worth keeping an eye on.

Below is the chart shared by Santiment that shows the trend in the supply of the 100 largest Chainlink addresses over the last few months.

The value of the metric appears to have climbing up in recent months | Source: Santiment on X As displayed in the graph, the Chainlink supply held by the top 100 addresses went up in November as the cryptocurrency’s price plummeted, a possible sign that big-money investors were loading up.

These whales shed some of their holdings in December and the first week of January, but recently, they have showed signs of renewed accumulation as LINK’s price has plunged below the $13.00 level. Compared to the start of November, the cohort’s holdings are up 16.1 million tokens.

“As retail sells off due to impatience & FUD, it’s common to see smart money gather up more $LINK to prepare for (or cause) the next pump,” explained the analytics firm. It now remains to be seen whether this accumulation will have any effect on the cryptocurrency.

Chainlink isn’t the only asset that has seen movements from large investors recently. As Santiment has highlighted in another X post, Bitcoin sharks and whales have participated in net buying over the last nine days.

In the context of BTC, sharks and whales are defined as investors holding between 10 to 10,000 tokens. Below is a chart that shows how the supply of these investors has changed since late July.

Looks like the large BTC investors have been scooping up coins over the last few days | Source: Santiment on X As is visible in the graph, the Bitcoin sharks and whales have increased their combined supply by 36,322 BTC in the last nine days, equivalent to an increase of 0.27%. Interestingly, the large investors have held on despite the fact that the asset’s price has gone through a retrace over the past few days.

However, the same hasn’t been true for the opposite end of the market, the retail entities. These investors, corresponding to addresses holding less than 0.01 BTC, have shed 132 BTC (0.28%) in the same window.

LINK Price At the time of writing, Chainlink is floating around $12.33, down more than 10% in the last seven days.

The trend in the price of the coin over the last five days | Source: LINKUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

7h05 ▪ 4 min read ▪ by Mikaia A.

Summarize this article with:

Bitcoin is bleeding. The flagship asset of the crypto sphere just brushed the low zone of $90,000. Crypto traders are holding their breath. The statistics make teeth grind: realized losses, selling at a loss, negative flows on ETFs. Meanwhile, gold climbs, driven by fear and global tensions. In this electric climate, two narratives oppose each other: doubt and resilience.

In Brief Bitcoin experiences its first realized losses over 30 days since October 2023. Gold hits an all-time record at $4,701 an ounce, the absolute safe haven for investors. Bitcoin ETFs record net outflows exceeding $394 million USD. Institutions continue to accumulate BTC despite global crypto market nervousness. The 30 Days of Losses: A Sign of Bitcoin’s Exhaustion? Some analysts announce an imminent return of buyers. But another fact stands out: for the first time since October 2023, bitcoin holders are recording net losses over thirty days. According to CryptoQuant, the “Realized Profit/Loss” metric has just dropped below zero again, proving that recent sales concern tokens purchased higher up.

Julio Moreno, head of research at CryptoQuant, summarized it on X:

Bitcoin holders are recording losses over a 30-day period since late December, for the first time since October 2023.

Glassnode analysts confirm: new BTC buyers have an average entry price of $98,000. As long as this threshold isn’t regained, profitability remains negative. This situation reflects a breathing-out phase of the bullish cycle. But in crypto’s memory, these doubt phases often precede the most violent rebounds.

Gold Triumphs, Crypto Stumbles: When Fear Redraws the Risk Map While bitcoin wobbles, gold reaches an absolute record at $4,701 an ounce. Geopolitical tensions and Donald Trump’s tariff threats against Europe have awakened flight reflexes to safe assets. Bitcoin ETFs recorded nearly $395 million in net outflows.

The contrast shocks crypto investors: gold attracts capital, crypto contracts.
The BTC/gold ratio has dropped 52% from its peak, according to Bitfinex. The last time it touched these levels, Bitcoin ended up outperforming gold a few months later.

Crypto traders oscillate between fear and patience: history shows that when flows leave risky assets, strong hands begin to reposition. The market seems on pause, suspended by both US political decisions and the psychological resistance of $100,000.

Institutions Stay the Course: The Silent Confidence of the Crypto World While panic spreads among retail investors, institutional investors continue to strengthen their positions.

According to Ki Young Ju, CEO of CryptoQuant:

Institutional demand for Bitcoin remains strong. American custody wallets generally hold between 100 and 1,000 BTC each. Excluding exchanges and miners, this gives a fairly accurate estimate of institutional demand, ETFs included.

These figures confirm that patient capital remains anchored. Large funds take advantage of corrections to accumulate BTC at a reduced price.

Yet, volatility does not weaken: Bitcoin briefly dropped to $91,800, causing 233 million in long liquidations. Despite all, the market retains a bullish structure. Altcoins — from SOL to XRP — suffer, but crypto retains its potential.

Five Bitcoin Market Benchmarks  Current BTC Price: $89,506; 30 days of losses: first time since 2023; Bitcoin ETFs: – $394.7M; Gold: record at $4,701/oz; 577,000 BTC accumulated by institutions. A new parameter emerges in this tense market: Bitcoin options now exceed futures contracts. This shift shows traders prefer protecting themselves rather than speculating. This discreet but structuring turn illustrates the maturation of the crypto market. Less frenzy, more risk management: perhaps the true sign of an ecosystem learning to absorb shocks without breaking.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

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Solana Mobile has officially launched its native SKR token, making the airdrop live for Seeker smartphone users and developers. This signifies a major breakthrough in integrating crypto incentives with mobile hardware adoption.

SKR token powers governance, staking, and app curation with early yields around 28% APY, with incentives aligned across builders, users, and hardware partners across the Solana Mobile ecosystem.

Solana Mobile Airdrops SKR Token for Seeker Users and Developers Solana Mobile in an X post on January 21 announced that the SKR token is now live. Seeker users and developers can now claim their SKR token airdrop and earn rewards by staking their allocation.

The team will distribute nearly 2 billion SKR to users and developers, marking 20% of the total supply. Solana said the token will power the growth and coordination mechanism, including staking to Guardians, supporting builders, securing devices, and curating the dApp Store.

The team confirmed that the SKR value will gradually flow back to the community as the ecosystem scales. SKR is live on Solana as an SPL token.

“Seeker and SKR are a bet that there’s another way for mobile: that the people who use the network should own the network. Today, over 100,000 of you can claim your stake in that future.”

Solana Mobile Seeker Token Eligibility and Claims As CoinGape reported earlier, SKR token will have total supply of 10 billion tokens. The allocation uses linear inflation to incentivize early participants who stake to secure the ecosystem and bootstrap platform growth.

Under the token’s allocation plan, 30% of the supply is earmarked for airdrops, including the initial distribution to eligible Seeker users and developers. Solana Mobile plans to airdrop nearly 2 billion SKR to users and developers.

All users who activated their Seeker Genesis Token before or during Season 1 are eligible for an allocation. A total of 1.819 billion SKR will be airdropped to 100,908 users across five allocation tiers for Season 1.

SKR Allocation Tiers. Source: Solana Mobile To claim the SKR token airdrop, Seeker users can ‍‍go to Seed Vault Wallet’s Activity Tracking tab. Notably, users must have 0.015 SOL in the wallet to cover the transaction fee. It has a 90-day deadline to claim airdrops.

Once claimed, users can immediately stake their SKR tokens for rewards, with 0% commission charged at launch. Users can unstake at any time with a 48-hour cooldown period.

Got your SKR? Put it to work.

Stake on Seeker:
1. Open Seed Vault Wallet
2. Go to SKR Staking
3. Choose your amount
4. Stake to earn SKR rewards

Inflation events every 48 hrs.

Stake on web: https://t.co/We5Qoveogu

Program ID: SKRskrmtL83pcL4YqLWt6iPefDqwXQWHSw9S9vz94BZ pic.twitter.com/OZFUqbOVnp

— Seeker | Solana Mobile (@solanamobile) January 21, 2026

SKR Token Price Action SKR token is available on multiple exchanges and platforms including Kraken, Bybit, Gate, MEXC, Jupiter, and Phantom. To celebrate the launch, Solana-based Jupuiter announced a $50,000 SKR prize pool.

The price jumped more than 40%, currently trading at $0.0111. The 24-hour low and high are $0.00537 and $0.01294, respectively. Trading volume has increased by over 3000% over the last few hours, indicating interest among traders.

Also, SOL price saw a 2% rebound to $128.17, following a 6% drop in the past 24 hours. The intraday low and high were $125.67 and $132.98, with 78% increase in trading volume.

Secondary watch prices are up about 4% over six months, even as crypto slides and gold and silver absorb the macro stress trade.

Amin Ayan

Crypto Journalist

Amin Ayan

Part of the Team Since

Apr 2025

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

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12 minutes ago

Solana Mobile has launched an airdrop of its native token, SKR, opening claims to users of its Seeker smartphone and select developers active in its decentralized app ecosystem.

Key Takeaways:

Solana Mobile launched a 90-day SKR airdrop for Seeker phone users and early dApp developers. SKR underpins governance and incentives, with 30% of its 10 billion supply allocated at launch. The airdrop coincides with Seeker’s Season 2 expansion across DeFi, gaming, and payments. In a statement released Tuesday, Solana Mobile said the airdrop reflects its broader vision of user ownership in mobile platforms.

“Seeker and SKR are a bet that there’s another way for mobile: that the people who use the network should own the network,” the company said, adding that more than 100,000 users are eligible to claim tokens.

Solana Mobile Opens 90-Day SKR Airdrop Claims for Seeker UsersOwners of the Seeker phone can claim their allocation directly through the device’s built-in wallet.

The claim window is set at 90 days, after which any unclaimed tokens will be returned to the airdrop pool, according to the announcement.

Eligibility also extends beyond hardware users. Developers who launched what Solana Mobile described as “quality apps” on the Solana dApp Store during Season 1 are included in the distribution, underscoring the company’s push to reward early ecosystem contributors.

SKR is positioned as the core asset underpinning governance, incentives, and economic activity across the Solana Mobile ecosystem.

Got your SKR? Put it to work.

Stake on Seeker:
1. Open Seed Vault Wallet
2. Go to SKR Staking
3. Choose your amount
4. Stake to earn SKR rewards

Inflation events every 48 hrs.

Stake on web: https://t.co/We5Qoveogu

Program ID: SKRskrmtL83pcL4YqLWt6iPefDqwXQWHSw9S9vz94BZ pic.twitter.com/OZFUqbOVnp

— Seeker | Solana Mobile (@solanamobile) January 21, 2026 The token has a fixed supply of 10 billion units, with 30% allocated to airdrops and unlocks at launch.

Solana Mobile said this structure is intended to prioritize early participation while maintaining long-term issuance controls.

Airdrop recipients are being encouraged to stake their SKR tokens. According to the project’s documentation, inflation events occur every 48 hours under a linear schedule that starts with 10% annual inflation.

That rate is designed to decline by 25% each year until it reaches 2%, at which point inflation will remain constant.

The token launch coincides with the rollout of Seeker’s Season 2 campaign, which introduces new apps, rewards, and early-access programs.

Focus areas include decentralized finance, gaming, payments, trading, and decentralized physical infrastructure networks (DePIN).

Solana Mobile’s Seeker Phone Builds on SagaSeeker is an Android-based smartphone and the successor to Solana Mobile’s first device, Saga.

It comes preloaded with blockchain-focused features, including Seed Vault hardware-backed key storage and a native Solana dApp Store.

In August, Solana Mobile said it had received roughly 150,000 preorders for Seeker, with shipments planned across more than 50 countries.

The Solana Seeker includes a Genesis NFT providing owners access to future airdrops, exclusive content, and reward programs, with particular focus on the planned native ecosystem token, SKR.

SKR represents the native ecosystem token for Solana mobile devices, operating on Solana’s layer-1 blockchain and expected to be “airdropped directly to builders and users for ecosystem participation.”

According to CoinGecko data, SKR was trading at $0.01062 at the time of publication, up 54% over the past 24 hours.

Crypto markets have wiped out all gains this year as Bitcoin fell hard on trade war escalation fears and turmoil in the Japanese bond market. 

Total market capitalization is down 4% on the day as markets have shed more than $200 billion since the weekend. Bitcoin has led the losses, falling briefly below $88,000 during early trading in Asia on Wednesday morning, but it appears America is leading the sell-off.

BTC has now lost 10% in just seven days as it falls back to support levels. However, zooming out shows that it remains within a two-month range-bound channel and continues to consolidate.

Major volatility was predicted for Tuesday following a public holiday in the US on Monday, as markets digest President Trump’s latest round of tariff threats on Europe.

“The cryptocurrency market crashed on January 21, primarily due to broad risk-off sentiment from President Trump’s renewed 10–25% tariff threats on European/NATO countries over the Greenland dispute, amplified by a sharp Japanese government bond sell-off,” said Andri Fauzan Adziima, research lead at Bitrue.

Tariffs, Japanese Bonds, and Geopolitics Trump’s trade war is not the only thing impacting crypto markets today.

“Much of today’s market upheaval stems from Japan,” said Head of Investment Strategy at SoFi, Liz Thomas.

Head of Commodity Strategy at Saxo Bank, Ole Hansen, explained that “The relentless surge in long-dated JGB [Japanese government bond] yields signals that one of the world’s most reliable liquidity backstops is fading, with consequences that extend well beyond Tokyo.”

Pressure on global liquidity impacts risk-on assets such as crypto and tech stocks first, while safe-haven assets such as gold and commodities benefit.

MF Fund founder Michaël van de Poppe said if gold continues to gain, there’s “max panic taking place on the markets, as people run into risk-off assets.”

You may also like: Bitcoin’s Fear and Greed Index Experiences a Golden Cross in 30 Days Wintermute Calls End of Four-Year Crypto Cycle, Flags 2026 Triggers Why is the Bitcoin Price Down Today (January 20th, 2026) #Bitcoin vs. Gold is breaking down.

The current valuation of #Bitcoin hasn’t been this low vs. Gold ever before.

It’s similar to the periods of 2022 and 2018, the bottoming periods of those times.

Gold keeps accelerating upwards, the more it goes vertical, the faster we get… pic.twitter.com/GpnlFzC8M8

— Michaël van de Poppe (@CryptoMichNL) January 20, 2026

Elsewhere on Crypto Markets The broader crypto market is a bloodbath today, with Ether dumping 7% in a fall below $3,000 again, hitting $2,925 and returning to December lows.

There were also substantial losses for Binance Coin, Monero, and Hyperliquid, but most altcoins were down 3-4% on the day. Canton (CC) was bucking the trend with a 12% gain on the day.

Total market cap had fallen to the lower bounds of its sideways channel at $3.08 trillion at the time of writing. It needs to hold key support here to avoid falling into a full bear market and prolonged crypto winter.

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Bitcoin treasury company Strategy has unveiled a new $2.13 billion BTC acquisition, its largest spend since July 2025’s $2.46 billion purchase.

Strategy Has Expanded Its Bitcoin Reserves By 22,305 BTC As announced by Strategy co-founder and chairman Michael Saylor in an X post, the company has completed another Bitcoin acquisition, this one involving 22,305 BTC.

According to the filing with the US Securities and Exchange Commission (SEC), the purchase occurred in the period between January 12th and 19th, and cost Strategy $95,284 per token or $2.13 billion in total. The firm sold shares of its STRK, STRC, and MSTR at-the-market (ATM) stock offerings to fund the buy.

Usually, Strategy reveals new acquisitions on Mondays, but this time the announcement has come on a Tuesday. The routine Sunday Saylor post foreshadowing the buy, however, did come on time.

This time, the Strategy chairman made the post with the caption “₿igger Orange.” Many in the community speculated that the caption was a hint at the next purchase from the company being bigger than the last, which already involved a significant sum of 13,627 BTC.

And indeed, not only has the buy been larger, it has in fact been the largest Bitcoin acquisition made by the firm since November 2024 in terms of the number of tokens involved. The larger purchase in that month expanded Strategy’s treasury by a whopping 55,500 BTC.

When considering the USD value, though, the latest acquisition falls short of a purchase from late July 2025, costing the company about $2.46 billion. BTC was trading at a higher value back then, so the larger USD sum got the company a lower amount of coins (21,021 BTC).

Following the latest purchase, Saylor’s firm has crossed the 700,000 BTC milestone, as its holdings have now risen to 709,715 BTC. Strategy spent a total of $53.92 billion on this stack and its current value stands at $63.55 billion, putting it in a profit of nearly 18%.

As Strategy continues to accumulate, it’s solidifying its already dominant position as by far the largest corporate holder of Bitcoin, as rankings from BitcoinTreasuries.net indicate.

Looks like Strategy is the only company among these that has purchased recently | Source: BitcoinTreasuries.net Strategy’s closest digital asset treasury competitor isn’t a Bitcoin company, but rather an Ethereum one: Bitmine. Originally a mining-focused firm, Bitmine adopted an ETH treasury strategy in mid-2025 and has quickly established itself in the space, becoming the number one corporate holder of Ethereum and number two in overall rankings behind Strategy.

According to a Tuesday press release, Bitmine has also added to its reserves over the past week, purchasing 35,268 ETH. This has taken the company’s total holdings to 4,203,036 ETH, equivalent to nearly 3.5% of the cryptocurrency’s entire circulating supply.

BTC Price Bitcoin has been showing bearish momentum recently as its price has declined to the $89,300 level.

The price of the coin seems to have plunged over the last few days | Source: BTCUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

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Trove Markets’ new token collapsed almost immediately after trading began, wiping out the vast majority of early gains and leaving many backers angry and confused. The drop was brutal. Traders who bought early watched their holdings shrink by about 95% in a matter of hours.

Token Price Plunges After Launch Initial prices implied a market value near $20 million. Based on reports, the token fell to roughly $0.0008 per unit, trimming the market cap to below $1–2 million.

Some wallets unloaded huge chunks of coins right after the token generation event. That selling pressure coincided with a flood of posts on social platforms calling the launch a rug pull.

Trove Had Raised Millions Before The Fall According to reports, the project raised roughly $11.5 million in its public sale. The Trove team announced it would keep about $9.4 million to fund further work and pay for a switch of blockchains.

Total crypto market cap currently at $3.05 trillion, Chart: TradingView Refunds totaling about $2.44 million were returned to some investors, and another $100,000 was earmarked for additional reimbursements. The numbers left many buyers feeling shortchanged and asking why a large share of the money stayed with the team.

Team Keeps Majority Of Funds On-chain analysts and tracing tools flagged unusual transfers tied to a handful of new accounts. Reports note that a meaningful slice of the token supply moved into one cluster of wallets, and some transfers were routed through services like ChangeHero.

That activity raised questions about whether all token allocations were handled openly. Legal calls and demands for public audits followed soon after.

Investors reacted quickly. Some demanded full refunds. Others threatened legal steps. Community moderators and influencers amplified complaints and demanded clear timelines for fixes.

We’re pivoting Trove to Solana.

After recent sentiment around Trove, the liquidity partner that had been supporting our Hyperliquid path chose to unwind their 500k $HYPE position. That was their decision and we fully respect it.

This changes our constraints: we’re no longer…

— unwise (@unwisecap) January 18, 2026

Trove posted updates, saying a partner had pulled out and that the pivot to Solana was necessary to keep the project alive.

The team promised to continue building and to be more open about their choices, while pledging to deliver a working platform that might justify holding the funds.

https://t.co/sc8b59sjYE

— TROVE (@TroveMarkets) January 19, 2026

Trust Hinges On Delivery And Transparency What happens next will matter more than the words now being exchanged. If the team can show tangible progress on the exchange and create real trading depth, some anger may fade.

If not, the episode could be used as a warning: token sales that change terms late in the process can trigger swift market punishment and reputational damage. Regulatory scrutiny could also increase if large sums are held after a collapse like this.

Featured image from Unsplash, chart from TradingView

Zcash (ZEC) price has extended its corrective phase after dropping more than 12% over the past week. The move has pushed the price back into a higher-risk zone, and hence what looks like a routine pullback may transform into a clearer bearish continuation.

8h15 ▪ 3 min read ▪ by Luc Jose A.

Summarize this article with:

After three years under the yoke of sellers, Ethereum finally sends an unexpected signal. The “net taker volume” turns green again for the first time since January 2023, revealing a possible trend reversal. This sudden change in trader behavior on futures contracts intrigues analysts. Should we see it as the beginnings of a bullish recovery for the second largest crypto in the market?

In brief A rarely observed indicator, net taker volume, turns positive again on Ethereum, a first since January 2023. This signal reflects aggressive buying pressure on derivative markets, after three years of seller domination. The imbalance reaches about 390 million dollars, suggesting renewed institutional interest in ETH. Ethereum price oscillates around a strategic control zone between $3,050 and $3,140, with critical support at $3,000. Buyers Take the Initiative on Derivative Markets On January 6, a rarely seen signal since 2021 emerged on Ethereum futures markets: net taker volume is positive again, showing an imbalance of about 390 million dollars, while Standard Chartered just revealed its shocking prophecy on this crypto network.

Such a value marks an unprecedented peak since January 2023. It indicates that buyers are taking the lead, after a long period where sellers dominated the market dynamics.

Here are the main elements that make this reversal notable :

Net taker volume measures the gap between market buy orders (aggressive) and sell orders, reflecting traders’ directional appetite on derivatives ; Since 2021, Ethereum has evolved under prolonged seller dominance on these markets, making this behavior change particularly significant ; The magnitude of the observed imbalance, 390 million dollars, reflects a return of bullish conviction among some institutional players ; Previous net taker volume reversals have often been followed by periods of stabilization or prolonged recoveries of the ETH price. This development marks a break in operator behavior on derivative products, until now dominated by a cautious stance. Market attention now turns to Ethereum’s ability to confirm this momentum with sustained movements on the spot market.

A Strategic Positioning Around the $3,100 Control Zone Beyond the derived signal, other data enrich the technical analysis around Ethereum. The token price oscillates around a high activity zone located between $3,050 and $3,140, identified as the Value Area High on volume profile tools.

Indeed, this zone currently concentrates traders’ interest and represents a technical control threshold on which the market could build its next impulse. Defending the $3,000 support is also essential.

At the same time, liquidation data reveal a significant concentration of long positions around $3,100, with about $540 million of liquidity positioned.

On the other side, nearly $500 million are situated below the $3,000 support, indicating that the market is technically balanced between short-term bullish and bearish pressures. The current structure suggests that any sharp price movement could trigger liquidation cascades, amplifying volatility in both directions.

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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.

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Key Points:

Establishment of Strategic Bitcoin Reserve aims to hedge currency fluctuations.200,000 Bitcoins consolidated without taxpayer funds.Policy could influence global digital asset strategies. President Donald Trump initiated the Strategic Bitcoin Reserve on March 6, 2025, centralizing over 200,000 Bitcoin from government asset forfeitures to bolster national financial stability and strategic reserves.

This directive positions Bitcoin alongside gold in strategic national policy, potentially influencing global digital asset management while mitigating previous governmental selling impacts.

Bitcoin Reserve: A Shift from Sale to Retention President Donald Trump has solidified his administration’s commitment to cryptocurrency by establishing a Strategic Bitcoin Reserve. The Executive Order issued consolidates more than 200,000 BTC under the U.S. Treasury’s management as a national strategic asset, marking a shift from previous practices of auctioning such assets off.

This policy update transitions from governmental selling pressure to retention of Bitcoins acquired through asset forfeiture. It aims to leverage these holdings without imposing on taxpayers or the open market. This approach is budget-neutral, employing assets already seized instead of new acquisitions, providing a robust hedge against fiat currency fluctuations.

“It is the policy of the United States to establish a Strategic Bitcoin Reserve… Government BTC deposited into the Strategic Bitcoin Reserve shall not be sold and shall be maintained as reserve assets.” — Donald J. Trump, President of the United StatesResponses vary, with some industry analysts suggesting this move could inspire similar strategies in other countries. Congressman Nick Begich stated, “We’re interested in long-term, stable assets,” reinforcing the interest in holding these assets strategically. Such actions indicate a promising shift towards long-term stability in government-held digital assets.

U.S. Leads with 200,000 BTC Reserve Amidst Market Fluctuations Did you know? Countries like El Salvador have previously adopted strategies to incorporate Bitcoin into their national reserves, exploring innovative means to stabilize their economies amidst traditional currency fluctuations.

According to CoinMarketCap, as of January 21, 2026, Bitcoin’s price stands at $89,231.06 with a market cap of approximately $1.78 trillion. Over a 24-hour period, the trading volume reached $52.83 billion, while the price decreased by 2.01%. Bitcoin’s circulating supply is 19,978,700. Over 30 days, it experienced a slight increase of 0.14%.

Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 07:38 UTC on January 21, 2026. Source: CoinMarketCap The Coincu research team notes that the Strategic Bitcoin Reserve could bolster the U.S. economy against traditional market instability. By holding a significant reserve of Bitcoins, the policy could pave the way for similar strategic reserves in other sectors, potentially enhancing digital asset stability and integration into national financial frameworks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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