Market Signal Briefing

Crypto analyst Colin has revealed that the Bitcoin price has flashed a death cross, which he noted was bullish for the flagship crypto. This comes amid BTC’s recent decline, which has erased all its year-to-date (YTD) gains. 

Bitcoin Price Flashes Death Cross, Marking Potential Bottom
In an X post, Colin stated that a death cross just flashed for the Bitcoin price, with the “ironically” bullish indicator triggering at the same time that BTC tagged the lower boundary of its megaphone pattern. The analyst noted that this is a bullish setup from this point forward, as the death cross often marks bottoms. He indicated that this is likely the bottom, as BTC has ended at the lower end of the megaphone pattern channel. 

Colin remarked that these factors combined indicate a high likelihood of a move up for the Bitcoin price from its current level. He added that a bounce is likely in the short term. However, the analyst noted that the bigger question is whether this would be a bounce to new all-time highs (ATHs) or just a relief rally on the way down in a bear market. Regardless of what happens, he is optimistic that an upward move will occur in the short term. 

Source: Chart from Colin on X
Colin also alluded to the fact that the Federal Reserve will end quantitative tightening (QT) by December, a move which he described as another bullish catalyst for the Bitcoin price. This move is expected to inject more liquidity into the BTC and possibly spark higher prices for the flagship crypto. The Fed could also cut rates again at the December FOMC meeting, which would be a bullish catalyst for Bitcoin. 

Another Analyst Confirms Death Cross
Popular crypto analyst Benjamin Cowen also confirmed that the Bitcoin price just had a death cross. He noted that prior death crosses have marked local lows in the market. However, he added that the death cross rally fails when the cycle is over, which could be the case this time if the bull market is over. 

Cowen stated that the time for the Bitcoin price to bounce if the cycle is not over would start within the next week. The analyst further remarked that if no bounce occurs within one week, another dump is likely before a larger rally back to the 200D SMA, which he claimed would mark a macro lower high. Meanwhile, market analyst Subu Trade shared data on how BTC has reacted after historical death crosses. The last death cross occurred in April this year, and the flagship crypto recorded a 22% gain following it. 

At the time of writing, the Bitcoin price is trading at around $95,100, down in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $95,584 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pngtree, chart from Tradingview.com

The next few days are shaping up to be one of the most active and significant weeks in XRP’s market history. After months of filings and regulatory progress, four major asset managers are expected to debut their spot XRP exchange-traded funds, marking a big moment for institutional access.

A Packed Launch ScheduleAll four launches are scheduled within the same week, creating a rare, high-intensity rollout phase. According to current timelines, Franklin Templeton is expected to go live first on November 18, followed by Bitwise between November 19 and 20, while 21Shares and CoinShares are lined up for the November 20 to 22 window. This clustering of launches signals increasing institutional demand and confidence in XRP as a regulated investment product category.

Franklin Templeton Set to Lead the WaveFranklin Templeton, one of the world’s largest asset managers, plans to launch its spot XRP ETF on November 18. With an estimated $1.5 trillion in company-level assets under management, the firm’s entrance is seen as a strong validation from traditional finance. Early modeling suggests meaningful institutional participation could follow, especially if volumes mirror the early days of Bitcoin and Ethereum ETF trading.

Bitwise Plans XRP ETF After Completing DTCC ListingBitwise is expected to begin trading between November 19 and 20 with its product, Bitwise XRP ETF. The firm has already secured DTCC listing approval and is finalizing launch readiness. Bitwise holds around $5 billion in assets and has prior experience with Bitcoin and Ethereum ETFs, placing it in a strong position to attract early institutional interest.

21Shares is expected to enter the market between November 20 and 22. The product is named 21Shares Core XRP Trust ETF and will likely list on Cboe BZX, one of the main US ETF exchange venues. The company manages roughly $7 billion and has a proven global track record with crypto ETFs across Europe and other regions.

CoinShares is also targeting the same week, with a November 20 to 22 launch window. Its ETF, listed as CoinShares XRP ETF, received DTCC approval and shows an estimated $5 billion in company AUM. The company plans to work with Gemini and BitGo as custodians, both recognized names in institutional crypto storage.

How Big Is the Institutional Landscape?Recent public asset management figures show that Franklin Templeton sits far above competitors with an estimated $1.5 trillion in assets, while mid-tier ETF players like 21Shares, Bitwise, and CoinShares operate between $5 billion and $7 billion. Although these numbers represent full company AUM rather than seed capital, they reveal the growing financial scale entering the XRP ecosystem.

New Price Model Shows Wide Range of OutcomesA new liquidity-driven pricing model being shared across analysts forecasts XRP could trade between $4.50 and $15 within 30 days after ETF activation and between $7 and $24 after 60 days.

ETF inflow math is insane: With 5–20 ETFs seeded at $10M–$45M each, XRP statistically reaches $7–$24 in just 60 days.

Institutions don’t nibble, they swallow markets whole. $XRP pic.twitter.com/LGFPQNlsDo

— Ripple Bull Winkle | Crypto Researcher 🚀🚨 (@RipBullWinkle) November 16, 2025 The model is based on expected supply absorption and ETF inflow pressure, not hype or speculation. Final movement will depend on capital inflows, market sentiment, and overall crypto liquidity conditions.

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

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Short-Term Holder Bitcoin Supply in Loss Climbs to Highest Level Since FTX CollapseU.S.-listed bitcoin ETF assets under management have slipped only about 4% compared with bitcoin’s 25% price drop, highlighting a divergence. Nov 17, 2025, 12:11 p.m.

Short-term holders (STHs) are now almost entirely underwater on their recent bitcoin BTC$95,487.69 purchases. Glassnode defines STHs as entities that have held bitcoin for less than 155 days.

On June 15 (155 days ago), bitcoin was trading at $104,000, meaning nearly all coins acquired since then sit above current spot levels.

STORY CONTINUES BELOW

Glassnode data shows that 2.8 million BTC held by STHs are at a loss, the highest level since the FTX collapse in November 2022, when bitcoin traded near $15,000 per coin.

Bitcoin is now down roughly 25% from its October all time high, which is well within the typical 20% to 30% range for bull market corrections. In contrast with STHs, long term holders (LTHs) have continued distributing. Glassnode data shows that LTH supply has fallen from 14,755,530 BTC in July to 14,302,998 BTC as of Nov. 16, a reduction of 452,532 BTC.

"Many long-standing holders have chosen to sell in 2025 after many years of accumulation," Bitcoin OG and Fragrant Board Director Nicholas Gregory said.

"These sales are mostly lifestyle driven rather than motivated by negative views of the asset, and that the launch of the U.S. ETFs and a $100,000 price target created an attractive and highly liquid window to sell."

This decline in bitcoin has created a notable divergence with the U.S. spot bitcoin exchange traded funds (ETFs) which have shown remarkable stability. U.S. ETF assets under management (AUM) remain near their all-time highs when measured in BTC terms. The current AUM stands at 1.33 million BTC compared with the peak of 1.38 million BTC on Oct. 10 a 3.6% decrease, according to checkonchain.

BTC ETF AUM (Checkonchain)

Measuring AUM in BTC rather than dollars avoids distortions from price volatility. This divergence suggests that the recent price decline is not being primarily driven by ETF outflows but by longer term holders.

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As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.View Full Report

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Crypto Markets Today: Bitcoin, Ether Sink to Multimonth Lows as Liquidity Dries Up

52 minutes ago

A bruising weekend confirmed a broader downtrend across major tokens, with shifting Fed rate-cut expectations and thin liquidity accelerating declines.

What to know:

Bitcoin dropped to $93,400 and ether to $3,050, forming lower highs and lows across timeframesA $62 million bitcoin liquidation pocket looms at $92,840.SOL dropped to $135 and ETH briefly tapped $3,000 as reduced liquidity exaggerated downside moves across major cryptocurrencies and privacy coins alike.The crypto fear and greed index fell to 17/100 — its lowest since April — while RSI readings show markets not fully oversold despite sharp monthly losses.Read full story

TLDR

Solana (SOL) price tests critical $144-$150 support zone as macro bullish pattern remains intact despite short-term weakness
Heavy short positions stacked around $150 create resistance wall that caps upside attempts
On-chain data reveals concerning demand gap below $144 that could trigger deeper downside
Upcoming Firedancer and Alpenglow network upgrades aim to boost speed and reduce latency
Upexi announces $50 million share buyback program signaling institutional confidence

Solana price sits at a pivotal junction where macro strength collides with short-term selling pressure. The $144 to $150 region has emerged as the battlefield where bulls and bears are locked in combat.

The cryptocurrency trades near $140 after falling 26% over the past 30 days. This decline puts SOL at one-year lows despite maintaining a broader bullish structure on longer timeframes.

A rounded-base formation continues developing on the macro chart beneath long-standing resistance. Price has repeatedly tested the same supply zone, creating compression that typically precedes major breakouts.

Jesse Peralta’s technical analysis shows the consolidation stretching under the ceiling. The longer this pattern extends, the more energy builds for the next impulsive move higher.

Technical Structure Points to Decision Time
Short-term charts leave room for additional dips. Structure has pulled back from upper resistance lines, and a retest of rising trendlines or mid-range levels could unfold before any macro continuation.

Liquidity data reveals heavy short positioning stacked around the $150 zone. These positions create a wall that continues to cap upside attempts while SOL grinds just below this block.

Visible liquidity clusters wait to be taken if buyers manage to push through. These pockets often act as magnets, setting up high-probability reclaims if momentum returns.

Below current price levels, liquidity thins quickly. Only light absorption zones remain, suggesting most of the battle lies above rather than below current levels.

A clean sweep of the $150 level could force short closures. This would accelerate price back towards previous ranges, but until then, Solana remains pinned under crucial short-term resistance.

Solana Price on CoinGecko
On-Chain Metrics Flash Warning Signals
Ali Martinez’s on-chain realized distribution data exposes a concerning gap beneath $144. Very little historical demand sits in this zone, creating vulnerability for further downside.

If price loses this level decisively, the chart opens into a low-volume zone stretching far lower. The next meaningful concentration of buyers doesn’t appear until much deeper levels.

This makes the $144 to $150 region more critical than initially appears. Strong inflow periods earlier in the cycle still support the idea that Solana has retained committed holders above key levels.

The on-chain void cannot be ignored. Defending current support becomes absolutely necessary to avoid a momentum vacuum to the downside.

Corrective wave structure continues with lower highs and steady rejections confirming downward bias. The push towards mid-$130s keeps the chart vulnerable while price struggles to reclaim overhead resistance.

The $160 to $177 range has repeatedly shut down bullish attempts. This ceiling remains the line that must break to neutralize the current downtrend.

Downside targets remain open with a grind towards the $95 zone possible if selling pressure persists. Support tests continue to weaken, and until the trendline breaks upward, rallies face heavy supply.

Network Upgrades Offer Potential Catalysts
The Solana network has multiple upgrades approaching that could provide price catalysts. Firedancer and Alpenglow updates promise higher speeds, more transactions per block, and near-instant consensus.

Firedancer is a validator client developed by Jump Crypto’s team. The goal is boosting existing infrastructure through third-party client code currently in advanced testing and limited mainnet use.

The Firedancer validator aims to make Solana run on diverse validator clients. This reduces risk of failures and network outages that have plagued the blockchain previously.

Alpenglow protocol was first announced in May 2025. It redesigns Solana’s approach to coordinating validators through Votor, a lightweight voting protocol.

The mechanism finalizes blocks using single or dual-run voting processes. This reduces latency to milliseconds while eliminating gossip between validators.

Institutional confidence remains despite price weakness. Upexi, which previously allocated $300 million into Solana, unveiled a $50 million share buyback program Thursday.

The company’s Board of Directors authorized the repurchase program to be executed at management’s discretion. Allan Marshall, company head, stated the program represents an additional tool to enhance shareholder value.

By reducing shares in circulation, Upexi effectively increases the amount of SOL tokens each share represents. This should result in higher returns if Solana recovers as expected.

Published
7 minutes ago on
November 17, 2025

Shhh, it's a secret. Ethereum (ETH) has probably bottomed at $3,000 and hardly anyone is talking about it. With market sentiment at its most dire - the Fear and Greed Index hit 10 on Sunday, deep in extreme fear. Is this now the beginning of a rally to $5,000 and beyond?

$ETH price hits $3,000 psychological support level

Source: TradingView

The short-term time frame for $ETH shows how the price not only tagged the bottom of the descending channel, but it also hit the psychological $3,000 horizontal support level and a decent bounce has resulted so far.

It would be expected that the price will now either move on up to the downtrend line (faint dotted line) or it will perhaps come back down, perhaps for another retest, and the very short term momentum indicators can reset.

The RSI reveals that the indicator line has broken up through the first downtrend line. In keeping with what was just mentioned, it could go back to retest and confirm this trendline before moving up to the next downtrend line. This could correspond to a similar movement to the trendline in the price action.

Bounce here or coming soon

Source: TradingView

Looking at $ETH in the daily time frame it can be seen that a bounce from the current level makes perfect sense. Yes, there is the possibility of a further dip to the even stronger horizontal support level of $2,800, but institutions would probably be buying into such a drop, given the excellent support below.

All this said, $3,000 is a key level and the bounce can certainly take place from here. The descending trendline in the RSI at the bottom of the chart suggests that the bounce is either happening or will arrive soon. As can be noted in the previous almost 6-month long downtrend line, when the indicator line breaks through, this can signal a period of huge price growth.

Huge $ETH price rally building

Source: TradingView

The weekly chart shows what could be a huge, thunderous bull flag, or at the very least a descending channel, the measured move of which would take the price back, near to the all-time high. The measured move for the bull flag could take the $ETH price to somewhere near $7,000.

The RSI in this time frame reveals how it has signalled previous big rallies. These have led to price rises of 169%, 82%, and 221%. Taking just the average of these 3 price rises (157%), this would send the $ETH price to well over $7,000. Hold onto your hats!

Disclaimer: 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.

TLDR

BitMine’s Tom Lee believes Ethereum is starting the same “supercycle” that saw Bitcoin multiply 100 times since 2017
Long-term ETH holders have accumulated 27 million ETH this year, up from 10 million at year start
BitMine purchased $234 million worth of ETH in the past week through institutional brokers
Critics question Ethereum’s competitive advantage over faster chains like Solana
ETH’s current price near $3,150 approaches the average cost basis of long-term holders at around $2,900

Tom Lee, executive chair of BitMine Immersion Technologies, claims Ethereum is beginning the same price trajectory that multiplied Bitcoin’s value by 100 times since 2017. Lee shared his prediction on X Sunday, drawing parallels between ETH’s current position and Bitcoin’s starting point years ago.

Lee first recommended Bitcoin to Fundstrat clients in 2017 when it traded around $1,000. Despite multiple drops exceeding 75%, Bitcoin has now reached over $95,000.

“We believe ETH is embarking on that same Supercycle,” Lee stated in his post. He warned investors would need to “stomach existential moments to HODL” through the volatility.

Ethereum has lagged Bitcoin’s performance throughout early 2025. While Bitcoin hit new highs above $126,000 in October, ETH peaked at $4,946 in August.

Both cryptocurrencies have since declined from their highs. Bitcoin has fallen 25% while Ethereum dropped over 35% as markets contracted.

Ethereum Price on CoinGecko
Market Data Points to Accumulation
CryptoQuant contributor Burak Kesmeci notes ETH trades near a critical support level. The current price around $3,150 sits just $200 above the average cost basis of long-term holders.

These accumulation addresses have absorbed 17 million ETH this year. Total holdings in long-term wallets grew from 10 million to 27 million ETH.

Kesmeci identified $2,900 as a key threshold. ETH has only dipped below this level once in April when President Trump’s global tariffs took effect.

“It is unlikely to stay there for long,” Kesmeci said about potential drops below $2,900. He called this price level “one of the strongest long-term accumulation opportunities.”

Whale Activity Supports Bullish Thesis
Arkham data reveals BitMine purchased over 67,000 ETH in the past week. The transactions totaled more than $234 million across multiple institutional brokers.

Purchases came through Galaxy Digital, FalconX, and Coinbase. The buying activity occurred despite recent market weakness.

Critics have challenged Lee’s supercycle thesis. The Bitcoin Therapist, a prominent Bitcoin influencer, questioned Ethereum’s competitive advantages.

“What unique advantage does Ethereum have that hundreds of other coins don’t?” the influencer asked. He doubted global financial markets would choose Ethereum for round-the-clock settlement.

Performance concerns persist despite network upgrades. Competitors like Solana offer faster and cheaper transactions.

Ethereum’s decentralized finance ecosystem remains its strongest use case. Layer-2 platforms including Base, Arbitrum, and Optimism continue expanding network capacity.

Tokenized assets and institutional applications provide additional growth drivers. Gaming applications also contribute to network activity.

Lee emphasized that price volatility reflects the market “discounting a massive future.” He compared current ETH skepticism to doubts Bitcoin faced during its early supercycle.

Ethereum touched a 24-hour low of $3,023 before recovering. The token trades flat at $3,185 over the past day.

Bitcoin and ether ETFs experienced significant outflows, resulting in a combined loss of $1.84 billion over the week. Solana ETFs, however, continued their upward momentum, securing another week of inflows despite broad market weakness.

This insurance disruptor has spiked in recent weeks. What is fueling the rally?

Over the past month, Lemonade (LMND +0.66%) has been the best-performing stock in my portfolio by a wide margin, up by more than 60%. In this video, I'll discuss the company's latest earnings and what could take the business (and its stock) to the next level.

*Stock prices used were the morning prices of Nov. 11, 2025. The video was published on Nov. 12, 2025.

Matt Frankel has positions in Lemonade and has the following options: short January 2026 $90 calls on Lemonade. The Motley Fool has positions in and recommends Lemonade. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

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

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

AMSTERDAM--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today announced that it has been appointed by Osmosis Investment Management NL B.V. (Osmosis NL) to provide middle office support including investment operations outsourcing (IOO), collateral management and currency management. Osmosis NL is a sustainable fixed income asset manager based in the Netherlands. An affiliate of UK-based Osmosis Investment Management UK Limited (“Osmosis UK”) and a member of the Osmosis Group of Companies, Osm.

November 17, 2025 6:30 AM EST | Source: Queen's Road Capital Investment Ltd.
Hong Kong, Hong Kong--(Newsfile Corp. - November 17, 2025) - Queen's Road Capital Investment Ltd. (TSX: QRC) (the "Company" or "QRC") is pleased to announce it has recorded after-tax earnings of US$115 million or C$3.25 per share for the fiscal year ended August 31, 2025, representing a Price-to-Earnings ratio of 2.4x at August 31, 2025.

QRC ended the year with a US$213 million portfolio of convertible debentures as well as US$130+ million of highly liquid equity investments. Today, the convertible debenture portfolio is at US$223 million and earns a coupon of 9.7%, generating approximately US$22 million of annual interest income. The Company also ended the 2025 fiscal year with an all-time high month-end net asset value ("NAV") and a near record low price-to-NAV multiple.

Warren Gilman, Chairman & CEO, stated: "After a record 2025 fiscal year, 2026 is off to a strong start with uranium, copper and gold equities in high demand. Our portfolio's current commodity exposure is approximately 50% uranium, 25% copper and 25% precious metals, a mix which should see further gains for Queen's Road shareholders in the future."

Shareholder support continues to be extremely strong. 69% of shareholders participated in the dividend reinvestment plan ("DRIP") with regards to the November 13th dividend payment. A total of 959,314 shares were issued from treasury at a share price of C$8.26 per share. As announced on October 14, 2025, the Company will be moving to a semi-annual dividend in 2026 with payments expected in May and November.

Queen's Road Capital is a dividend paying, leading financier to the global resource sector. The Company is a resource focused investment company, making investments in privately held and publicly traded companies. The Company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, inability to identify or successfully conclude corporate transactions, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274694

Luxembourg, Grand Duchy of Luxembourg, November 17, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, today announced that Marcus Arildsson has been appointed Chief Financial Officer, effective today. Mr. Arildsson will succeed Oscar Iglesias, who, as part of the previously announced transition, will assist with an orderly handover and is expected to join the Company’s Board of Directors, subject to the approval of shareholders at an Extraordinary General Meeting scheduled for December 1st.

Mr. Arildsson is a senior finance executive with over 25 years of international experience across investment banking, equity markets and corporate finance.

He began his career at Lehman Brothers and Merrill Lynch in London, executing over €9 billion in cross-border M&A, IPO, and equity-linked transactions. He later spent 12 years at Arcano Partners in Madrid, advising corporates and financial sponsors on more than €5 billion in M&A, debt and equity transactions.

He has since held CFO and executive committee roles at Millenium Hospitality Real Estate, a listed REIT with a €700 million portfolio, Sonae Sierra and Ladorian, a retail media technology company.

Mr. Arildsson holds an MBA from Northwestern University’s Kellogg School of Management and a BBA from James Madison University. He is fluent in English, Spanish and Swedish.

“I’m thrilled to join Codere Online, a company that has demonstrated outstanding execution and discipline since becoming public. Its success reflects a strong team and clear vision and I look forward to contributing to the next chapter of that journey” said Mr. Arildsson.

“Marcus is a seasoned financial executive whose leadership and experience will be invaluable as we continue executing our plan” said Aviv Sher, Chief Executive Officer. “We also thank Oscar for his many contributions and for ensuring a seamless transition; we look forward to his continued involvement at the Board level.”

“On behalf of the Board, I am pleased to welcome Marcus to Codere Online,” said Gonzaga Higuero, Chairman of the Board. “His extensive experience in corporate finance and investment banking, combined with his international background, make him an exceptional addition to our leadership team.”

About Codere Online
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina. Codere Online’s online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.

About Codere Group
Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).

Contacts:

Investors and Media
Guillermo Lancha
Director, Investor Relations and Communications
[email protected]
(+34) 628 928 152

Forward-Looking Statements

Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans.

These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, and (xii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

Marcus Arildsson

Marcus Arildsson
Marcus Arildsson

The new, patented technology promises power savings in the high-growth Data Center power management market leveraging Tower’s advanced 65nm BCD platform

Migdal Haemek, Israel and Richardson, Texas — November 17, 2025 – Tower Semiconductor (NASDAQ/TASE: TSEM), a leading foundry of high-value analog semiconductor solutions, and Switch Semiconductor, a fabless power management company, today announced the SW2001, a high-efficiency, monolithic 12-V Point-of-Load (POL) buck regulator designed on Tower’s industry-leading 65nm BCD platform.

The SW2001 targets demanding applications including servers, AI compute systems, cloud storage, and telecom infrastructure. Featuring Switch Semiconductor’s patented Novo-Drive™ gate driver technology and LDMOS devices with ultra-low on-resistance and best-in-class figure-of-merit from Tower’s 65nm BCD Power Management platform, the SW2001 achieves up to 87% efficiency for 12 V-to-1 V conversion at 20 A load while significantly reducing switch-node overshoot and radiated emissions. Sampling – including evaluation boards – will begin in Q1 2026, with volume production scheduled for later in the year.

According to Mordor Intelligence, the market for monolithic power stages is growing with CAGR of 10% and will reach $3.73 billion by 2030.

Built on Tower Semiconductor’s 65nm 300mm BCD platform, featuring ultra-low-R_on LDMOS devices and low mask count digital and analog CMOS integration capability, the SW2001 benefits from exceptional power conversion efficiency, scalability, and thermal reliability — ideal for AI accelerators and high-performance server systems.

“Tower’s 65nm BCD platform delivers the integration capability, reliability, and industry leading low resistance devices, that enable customers to push the boundaries of power performance,” said Dr. Mete Erturk, Co-GM of the Power Management Business Unit at Tower Semiconductor. “We are excited to collaborate with Switch Semiconductor as they adopt our process technology to bring next-generation power solutions to market.”

“The SW2001 demonstrates how Switch Semi’s Novo-Drive technology and Tower’s advanced BCD process combine to deliver best-in-class efficiency and power density,” said Ross Teggatz, Founder and CEO of Switch Semiconductor. “We see this as the beginning of a broader expansion into innovative switching solutions for robotics, intelligent motion, and data center power systems – addressing the growing demands of next-generation computing and automation.”

The SW2001 offers high efficiency, EMI reduction, and superior power density in a compact 3 × 4 mm package with a 21-lead pinout that is widely used in industry. This enables designers to upgrade performance without redesigning system layouts. The product is the first in a growing roadmap from Switch Semiconductor, which includes development of monolithic POL converters and standalone Novo-Drive gate drivers aimed at high-performance computing and robotics applications.

For additional information on Tower’s Power Management technology platform, please visit here.

For additional information on Switch Semiconductor, please visit here.

About Tower Semiconductor         
Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

Safe Harbor Regarding Forward-Looking Statements
This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect Tower’s business is included under the heading “Risk Factors” in Tower’s most recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the Securities and Exchange Commission (the “SEC”) and the Israel Securities Authority. Tower does not intend to update, and expressly disclaim any obligation to update, the information contained in this release. 

Tower Semiconductor Company Contact: Orit Shahar | +972-74-7377440 | [email protected]
Tower Semiconductor Investor Relations Contact: Liat Avraham | +972-4-6506154 | [email protected]

Tower-Switch_SW2001_PressRelease_Final

November 17, 2025 06:30 ET

 | Source:

TransAlta Corporation

CALGARY, Alberta, Nov. 17, 2025 (GLOBE NEWSWIRE) --

Highlights

Purchase price of $95 million, or approximately $306 per kilowatt (kW)Immediately accretive to free cash flow and cash yield upon closing with approximately 68% of the portfolio's gross margin contracted to 2031; attractive recontracting fundamentals longer-termTransAlta's Energy Marketing and Trading team to deliver merchant upside and synergiesAugments and further diversifies TransAlta’s contracted portfolio and enhances competitive position in our core market of Ontario, increasing our footprint by 310 megawatts (MW) to 1,300 MW TransAlta Corporation (TransAlta or the Company) (TSX: TA; NYSE: TAC) is pleased to announce that it has entered into a definitive share purchase agreement (the Agreement) with an affiliate of Hut 8 Corp. and Macquarie Equipment Finance Ltd., the equity owners of Far North Power Corporation (Far North), pursuant to which TransAlta will acquire Far North and its entire business operations in Ontario. Far North owns and operates generation assets consisting of four natural gas-fired generation facilities totalling 310 MW. The purchase price for the acquisition is $95 million, subject to working capital and other adjustments. The Company will finance the transaction using cash on hand and draws on its credit facilities.

“With this acquisition, our position in Ontario increases through contracted and complementary assets. As electrification and population growth continues, the market will meaningfully rely on existing firm, dispatchable generation for grid reliability. Beyond the contract period these assets are attractively positioned for re-contracting opportunities as well as with optionality given the 167 acres of co-located land. The transaction adds to our reliable and increasingly diversified portfolio, and we see long term value in these assets," said John Kousinioris, President and Chief Executive Officer of TransAlta.

"This acquisition is immediately accretive to cash flow and demonstrates progress towards our priority of pursuing strategic M&A," said Joel Hunter, Executive Vice President, Finance and Chief Financial Officer. "We expect to seamlessly integrate these assets while remaining focused on advancing our Alberta data centre and Centralia opportunities."

The assets are expected to add approximately $30 million of average Adjusted EBITDA1 per year, from the 120 MW Iroquois Falls, 110 MW Kingston, 40 MW North Bay and 40 MW Kapuskasing facilities. The Agreement is subject to customary closing conditions, including receipt of regulatory approvals. The transaction is expected to close by early first quarter of 2026.

1 Adjusted EBITDA is non-IFRS measure. It does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities. Adjusted EBITDA is calculated by adjusting Earnings before income taxes for certain items that may not be reflective of ongoing business performance. The average Adjusted EBITDA is based on the expected aggregate Adjusted EBITDA for the period from 2027 - 2031 divided by the number of years in such period. Please refer to the “Non-IFRS and Supplementary Financial Measures” section of our management’s discussion and analysis for the three and nine months ended September 30, 2025 (“MD&A”) for more information about the non-IFRS measures we use, including a reconciliation of Adjusted EBITDA to Earnings before income tax, the most directly comparable IFRS measure, which section of the MD&A is incorporated by reference herein. The MD&A can be found on SEDAR+ (www.sedarplus.ca) under TransAlta’s profile.

About TransAlta Corporation:

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and thermal power and Alberta’s largest hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.

For more information about TransAlta, visit our web site at transalta.com.

Cautionary Statement Regarding Forward-Looking Information

This news release includes "forward-looking information," within the meaning of applicable Canadian securities laws, and "forward-looking statements," within the meaning of applicable United States securities laws, including the Private Securities Litigation Reform Act of 1995 (collectively referred to herein as "forward-looking statements"). Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as "may", "will", "believe", "expect", "estimate", "anticipate", "intend", "plan", "forecast", "continue" or other similar words. In particular, this news release contains forward-looking statements about the following, among other things: the acquisition of Far North Power Corporation; the anticipated benefits arising from such acquisition, including the addition of approximately $30 million of average Adjusted EBITDA per year, that the acquisition will be immediately accretive to free cash flow and cash yield upon closing, that the assets are attractively positioned for re-contracting opportunities and that we expect our Energy Marketing and Trading team to deliver merchant upside and synergies.

Forward-looking statements and future-oriented financial information in this news release are intended to provide the reader information about management's current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements are subject to important risks and uncertainties and are based on certain key assumptions. All forward-looking statements reflect TransAlta's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking statements, you should not put undue reliance on forward-looking statements and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking statements due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to our most recent MD&A and the 2024 Integrated Report, including the section titled "Governance and Risk Management" in our MD&A for the year ended December 31, 2024, filed under TransAlta's profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

For more information:

Investor Inquiries:Media Inquiries:Phone: 1-800-387-3598 in Canada and USPhone: 1-855-255-9184Email: [email protected]: [email protected]

STAMFORD, Conn.--(BUSINESS WIRE)--ITT Inc. today announced the completion of the second phase of a planned ~$25 million expansion of its manufacturing site in Saudi Arabia.

Transaction concludes a multi-phase program through which Hut 8 stabilized and strengthened the Portfolio following its acquisition out of bankruptcy

, /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced that it has entered into a definitive share purchase agreement (the "Agreement") with TransAlta Corporation (NYSE: TAC; TSX: TA) ("TransAlta"), one of Canada's largest publicly traded power generators. Under the Agreement, TransAlta will acquire the 310-megawatt portfolio of four natural gas-fired power plants in Ontario (the "Portfolio") owned and operated by Far North Power Corp. ("Far North"), an entity formed by Hut 8 and Macquarie Equipment Finance Ltd. ("Macquarie"), a subsidiary of Macquarie Group Limited.

The transaction concludes a multi-phase program through which Hut 8 stabilized and strengthened the Portfolio following its acquisition out of bankruptcy. Upon assuming responsibility for the Portfolio, Hut 8 executed the operational and commercial measures necessary to re-establish the assets as revenue-generating facilities. Earlier this year, Far North secured five-year capacity contracts across the 310-megawatt Portfolio through the Ontario IESO Medium-Term 2 ("MT2") auction. These contracts transition the power generation assets from short-term, seasonal arrangements to long-term, investment-grade-backed revenue commitments, significantly increasing cash-flow stability and duration while preserving merchant energy revenue upside.

Asher Genoot, CEO of Hut 8, said: "Our power-native team executed a disciplined program to strengthen the four natural-gas power plants comprising the Portfolio, enhancing their operational and commercial footing. This work enabled the award of investment-grade, long-term capacity contracts across all four sites through the MT2 process. With that foundation in place, we created the appropriate conditions to crystallize the value of the Portfolio for our shareholders."

Hut 8 continues to advance a multi-gigawatt pipeline of power-first digital infrastructure development opportunities across North America. While the Company maintains a strategic interest in power generation, it intends to prioritize capital allocation toward large-scale digital infrastructure development opportunities.

Sean Glennan, CFO of Hut 8, said: "These are attractive contracted facilities, but they are not core to our current strategy or capital plan, which is focused on high-return opportunities within our development pipeline. Redeploying capital from the Portfolio enables us to advance those opportunities while demonstrating our ability to invest in, optimize, and ultimately monetize complex power assets."

TransAlta's scale, commercial platform, and longstanding operating presence in Ontario make it a natural long-term owner of the Portfolio, positioning it for its next phase of value creation under TransAlta's stewardship.

John Kousinioris, President and Chief Executive Officer of TransAlta, said: "With this acquisition, our position in Ontario increases through contracted and complementary assets.  As electrification and population growth continues, the market will meaningfully rely on existing firm, dispatchable generation for grid reliability. Beyond the contract period these assets are attractively positioned for re-contracting opportunities as well as with optionality given the co-located land. The transaction adds to our reliable and increasingly diversified portfolio, and we see long term value in these assets."

CIBC Capital Markets acted as financial advisor to Hut 8, and Bennett Jones LLP served as legal counsel to the Company.

About Hut 8

Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management and 1,530 megawatts of energy capacity under development across 19 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas; five high performance computing data centers in British Columbia and Ontario; four power generation assets in Ontario; one non-operational site in Alberta; and four sites under development across Louisiana, Texas, and Illinois. For more information, visit hut8.com and follow us on X at @Hut8Corp.

About TransAlta Corporation

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA. For more information about TransAlta, visit our web site at transalta.com.

Cautionary Note Regarding Forward-Looking Information

This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the timing, structure and completion of the transaction pursuant to the Agreement, the commencement and impact of the MT2 contracts, the anticipated revenue generation and performance of the Portfolio, the ability of this transaction to crystallize the value of the Portfolio for the Company's shareholders, the Company's ability to advance its power pipeline, the Company's ability to redeploy capital from the transaction to advance other opportunities, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "predict", "is designed to", "likely," or similar expressions.

Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.

SOURCE Hut 8 Corp.

In 253 ALK TKI pre-treated patients, ORR by BICR was 31% (95% CI: 26, 37), with initial estimated durability of response of 64% and 53% at the 12-month and 18-month landmarks, respectively
In the subset of 63 TKI pre-treated patients who were lorlatinib-naïve, ORR by BICR was 46% (95% CI: 33, 59), with initial estimated durability of response of 80% and 60% at the 12- and 18-month landmarks, respectively
Neladalkib demonstrated intracranial responses, ability to address key drivers of disease progression, and a generally well-tolerated safety profile with low rates of dose discontinuation (5%) and dose reduction (17%) due to TEAEs, consistent with its ALK-selective, TRK-sparing design
Company plans to discuss pivotal data for the TKI pre-treated ALK-positive NSCLC population with the FDA at a pre-NDA meeting; detailed study results are planned for presentation at a future medical meeting
Company to host a conference call today, November 17th at 8:00am ET

, /PRNewswire/ -- Nuvalent, Inc. (Nasdaq: NUVL), a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for clinically proven kinase targets in cancer, today announced positive topline pivotal data for neladalkib, an investigational ALK-selective inhibitor, in tyrosine kinase inhibitor (TKI) pre-treated patients with advanced ALK-positive non-small cell lung cancer (NSCLC) from the global ALKOVE-1 Phase 1/2 clinical trial. Additionally, the company shared the first report of preliminary data from the Phase 2 exploratory cohort for TKI-naïve patients with advanced ALK-positive NSCLC from the ALKOVE-1 study.

"Today's announcement adds to the growing body of research that is transforming potential outcomes for ALK-positive lung cancer and offering new hope to patients," said Kirk Smith, patient and President of the Board of ALK Positive Inc. "We encourage the continued innovation and development of new therapeutic options for patients, with the hope that one day, advanced ALK-positive NSCLC could be managed as a chronic condition more often than as a life-threatening disease."

"In treating ALK-positive lung cancer, our goal is not only to help patients live longer, but also to help them live well with their disease," said Alice T. Shaw, M.D., Ph.D., a thoracic oncologist at Dana-Farber Cancer Institute and ALKOVE-1 trial investigator. "These encouraging topline data suggest that neladalkib may represent a new and differentiated treatment option for ALK positive lung cancer, offering durable clinical benefit while potentially reducing the risk of side effects that can affect quality of life." 

"We are deeply grateful to the patients, caregivers and investigators who have made this milestone possible for our neladalkib program. I continue to be inspired by the unwavering dedication of the Nuvalent team to making a difference for patients, and humbled by the courage and conviction of the over 1,000 patients that have already chosen to receive neladalkib through either our ALKOVE-1 trial or our global Expanded Access Program," said James Porter, Ph.D., Chief Executive Officer at Nuvalent. "Our focus remains on delivering our precisely targeted therapies to patients as quickly as possible, and we look forward to discussing these pivotal data with the FDA and aligning on a potential registration path for neladalkib in TKI pre-treated patients with advanced ALK-positive NSCLC."

Summary of Topline Pivotal Data

Neladalkib is being evaluated in ALKOVE-1, a first-in-human Phase 1/2 clinical trial for patients with advanced ALK-positive NSCLC and other solid tumors. The recommended Phase 2 dose (RP2D) for neladalkib of 150 mg once daily (QD) was determined during the Phase 1 dose-escalation portion of the trial. The global, single-arm, multi-cohort, open-label Phase 2 portion is designed to evaluate neladalkib at the RP2D with registrational intent for TKI pre-treated patients with advanced ALK-positive NSCLC. Global enrollment in ALKOVE-1 remains ongoing for adult and adolescent patients with ALK-positive solid tumors other than NSCLC, and for adolescent patients with ALK-positive NSCLC.

In this topline pivotal dataset for the TKI pre-treated ALK-positive NSCLC population, data are pooled across Phase 1 and 2 and reported for the primary objective of objective response rate (ORR, RECIST 1.1) by blinded independent central review (BICR). Key secondary objectives include duration of response (DOR), intracranial ORR (IC-ORR), and safety.

As of the data cut-off date of August 29, 2025, 781 patients with ALK-positive solid tumors had received neladalkib at any starting dose across the Phase 1 and Phase 2 portions of the ALKOVE-1 clinical trial. Of these, 656 patients with advanced ALK-positive NSCLC were treated with neladalkib at the RP2D.

Efficacy Analysis in TKI Pre-treated Advanced ALK-positive NSCLC

The pivotal primary analysis population consisted of 253 TKI pre-treated patients with advanced ALK-positive NSCLC with measurable disease by BICR who received neladalkib at the RP2D by September 30, 2024, with DOR follow-up of at least 6 months available for nearly all responders.

The pivotal primary analysis population was distinct from the ALK TKI pre-treated populations that have been reported for the currently available ALK TKIs:

Patients received a median of 3 prior lines of therapy (range, 1 – 11) and 51% had received prior chemotherapy.
78% of patients had received 2 or more prior ALK TKIs ± prior chemotherapy, of which 91% had received prior lorlatinib. No approved therapies have demonstrated activity after lorlatinib.
19% of patients had a secondary ALK G1202R resistance mutation, and 17% had a compound ALK resistance mutation, which are key drivers of disease progression.
40% of patients had active CNS disease by BICR at baseline.

Of the overall TKI pre-treated population, 25% (63/253) of patients were lorlatinib-naïve. Within this subpopulation:

25% received prior chemotherapy.
100% had received ≥ 1 prior 2G ALK TKI ± prior chemotherapy, of which 70% received prior alectinib only. No patients received crizotinib as their only ALK TKI.
19% of patients had a secondary ALK G1202R mutation.
35% had active CNS disease by BICR at baseline.

Activity was observed across subsets of TKI pre-treated patients, and durability of response was assessed as the probability of patients remaining in response for at least 6, 12, and 18 months by Kaplan-Meier estimate (Table 1).

Table 1.

Any prior ALK TKI
± chemotherapy  a

TKI Pre-treated,

Lorlatinib-naïve b

n

253

63

ORR, % (n/N)

(95% CI)

31% (79/253) c,d

(26, 37)

46% (29/63) e

(33, 59)

% DOR ≥ 6 months f

(95% CI)

76%

(64, 84)

89%

(69, 96)

% DOR ≥ 12 months f

(95% CI)

64%

(51, 75)

80%

(58, 91)

% DOR ≥ 18 months f

(95% CI)

53%

(34, 68)

60%

(19, 85)

G1202R mutation  g

n

47

12

ORR, % (n/N)

(95% CI)

68% (32/47) h, i

(53, 81)

83% (10/12)

(52, 98)

% DOR ≥ 6 months f

(95% CI)

84%

(65, 93)

90%

(47, 99)

% DOR ≥ 12 months f

(95% CI)

80%

(61, 91)

77%

(34, 94)

% DOR ≥ 18 months f

(95% CI)

70%

(42, 86)

77%

(34, 94)

Measurable CNS lesions

n

92 j

24 k

IC-ORR, % (n/N)

(95% CI)

32% (29/92) l, m

(22, 42)

63% (15/24) l

(41, 81)

IC-CR, % (n/N)

13% (12/92) n

21% (5/24) n

% IC-DOR ≥ 6 months f

(95% CI)

81%

(59, 91)

92%

(57, 99)

% IC-DOR ≥ 12 months f

(95% CI)

71%

(48, 85)

92%

(57, 99)

% IC-DOR ≥ 18 months f

(95% CI)

71%

(48, 85)

92%

(57, 99)

a Median DOR (mDOR) not reached with median follow-up of 11.3 months.

b mDOR not reached.

c Includes 2 unconfirmed partial responses (uPRs).

d Includes responses in patients previously treated with lorlatinib (ORR = 26% [50/190 including 2 uPRs] with mDOR = 17.6 months [95% CI: 6.9, NE]).

e For patients receiving only 1 prior 2nd generation ALK TKI (alectinib [n = 44] or brigatinib [n = 2]) ± chemotherapy, ORR was 48% (22/46) with mDOR not reached, and DOR ≥ 12 and 18 months of 74% (95% CI: 48, 88).

f Estimated for responders by Kaplan-Meier analysis.

g ALK G1202R mutation identified in local or central testing of blood (ctDNA) or tissue. Patients may have had other mutations in addition to ALK G1202R.

h Includes responses in patients with compound ALK mutations (≥2 ALK mutations, cis allelic configuration not determined in all cases) after ≥ 2 prior ALK TKIs (ORR = 58% [25/43, including 1 uPR] with DOR ≥ 12 months of 69% [95% CI: 45, 84]) and in patients with ALK resistance mutations other than G1202R, including C1156Y, I1171N, I1171T, F1174C, F1174L, V1180L, L1196M, L1198F, D1203N, E1210K, and G1269A.

i Includes 1 uPR.

j For intracranial (IC) responders, the emerging IC-mDOR was 21.6 months (95% CI: 10.1, NE) and continues to mature.

k For IC-responders, the emerging IC-mDOR was 21.6 months (95% CI: 21.6, NE) and continues to mature.

l Includes 2 IC-uPRs.

m IC responses were also observed in lorlatinib-experienced patients with measurable CNS lesions at baseline (IC-ORR = 21%, 14/68) with IC-mDOR not reached, IC-DOR ≥ 6 months of 71% (95% CI: 41, 88), and IC-DOR ≥ 12 and 18 months of 55% (95% CI: 26, 77).

n Includes 1 IC-uCR with prior confirmed IC-PR.

Preliminary Data from Exploratory Cohort for TKI-Naïve Patients with Advanced ALK-positive NSCLC

Encouraging preliminary data were available for 44 TKI-naïve patients with advanced ALK-positive NSCLC and measurable disease by BICR. These patients were treated with neladalkib at RP2D in an exploratory cohort of ALKOVE-1, with data cut-off of August 29, 2025. Patients may have received up to one prior line of chemotherapy.

The preliminary ORR was 86% (38/44; 2 uPRs) and a CR rate of 9% (4/44; 1 uCR with prior confirmed PR) was observed. DOR ranged from 1.7+ to 14.8+ months with DOR ≥ 6 and 12 months of 91% (95% CI: 70, 98) and only two progression events among responders. In 9 patients with measurable intracranial lesions, the IC-ORR was 78% (7/9) and the intracranial CR rate was 44% (4/9; 1 IC-uCR with prior confirmed IC-PR). The IC-DOR ranged from 3.1+ to 7.0+ months with no CNS progression among responders.

Global enrollment of TKI-naïve patients is ongoing in ALKAZAR, Nuvalent's Phase 3 randomized controlled trial of neladalkib versus alectinib.

Safety Analyses in Advanced ALK-positive NSCLC

Neladalkib demonstrated a generally well-tolerated safety profile consistent with its ALK-selective, TRK-sparing design.

In the 656 patients with advanced ALK-positive NSCLC treated at RP2D as of the data cut-off date, the median duration of exposure was 6.0 months (range, 0.1, 28.4). The most frequent treatment-emergent adverse events (TEAEs) occurring in ≥ 15% of patients were alanine aminotransferase increased (47%), aspartate aminotransferase increased (44%), constipation (28%), dysgeusia (23%), peripheral edema (18%), cough and nausea (16% each).

The most common TEAE of transaminase elevations were generally observed to be asymptomatic lab abnormalities that were low-grade, transient, and reversible with dose interruptions or reductions. Preliminary data suggest increased incidence in less heavily pre-treated patients. Enhanced monitoring for transaminase elevations and prompt dose interventions have been implemented in the protocol for the ALKAZAR Phase 3 randomized, controlled trial.

Across the 656 patients treated in ALKOVE-1 at RP2D, dose reductions due to TEAEs occurred in 17% of patients and 5% of patients discontinued treatment due to TEAEs.

The company plans to discuss the topline pivotal data for TKI pre-treated ALK-positive NSCLC with the U.S. Food and Drug Administration (FDA) at a pre-New Drug Application (NDA) meeting. Additionally, Nuvalent plans to present detailed study results at a future medical meeting.

Webcast and Conference Call Information

A conference call with management will be held today at 8:00 am ET. To access the call, please dial +1 (800) 836-8184 (domestic) or +1 (646) 357-8785 (international) at least 10 minutes prior to the start time and ask to be joined to the Nuvalent call.

Accompanying slides and a live video webcast will be available in the Investors section of the Nuvalent website at https://investors.nuvalent.com/events. A replay and accompanying slides will be archived on the Nuvalent website for 30 days.

About Neladalkib
Neladalkib is an investigational brain-penetrant ALK-selective inhibitor created with the aim to overcome limitations observed with currently available ALK inhibitors. Neladalkib is designed to remain active in tumors that have developed resistance to first-, second-, and third-generation ALK inhibitors, including tumors with single or compound treatment-emergent ALK mutations such as G1202R. In addition, neladalkib is designed for central nervous system (CNS) penetrance to improve treatment options for patients with brain metastases, and to avoid inhibition of the structurally related tropomyosin receptor kinase (TRK) family. Together, these characteristics have the potential to avoid TRK-related CNS adverse events seen with dual TRK/ALK inhibitors and to drive deep, durable responses for patients across all lines of therapy. Neladalkib has received breakthrough therapy designation from the U.S. Food and Drug Administration (FDA) for the treatment of patients with locally advanced or metastatic ALK-positive non-small cell lung cancer (NSCLC) who have been previously treated with 2 or more ALK tyrosine kinase inhibitors and orphan drug designation for ALK-positive NSCLC.

About the ALKOVE-1 Phase 1/2 and ALKAZAR Phase 3 Clinical Trials
The ALKOVE-1 trial (NCT05384626) is a first-in-human Phase 1/2 clinical trial for patients with advanced ALK-positive NSCLC and other solid tumors. The completed Phase 1 portion enrolled ALK-positive NSCLC patients who previously received at least one ALK TKI, or patients with other ALK-positive solid tumors who had been previously treated or for whom no satisfactory standard of care exists. The Phase 1 portion of the trial was designed to evaluate the overall safety and tolerability of neladalkib, with additional objectives including determination of the recommended Phase 2 dose (RP2D), characterization of the pharmacokinetic profile, and evaluation of preliminary anti-tumor activity. The global, single arm, open label Phase 2 portion is designed with registrational intent for TKI pre-treated patients with advanced ALK-positive NSCLC. Global enrollment in ALKOVE-1 remains ongoing for adult and adolescent patients with ALK-positive solid tumors outside of NSCLC, and adolescent patients with ALK-positive NSCLC.

The ALKAZAR trial (NCT06765109) is a global, randomized, controlled trial designed to enroll approximately 450 patients with TKI-naïve ALK-positive NSCLC. Patients are randomized 1:1 to receive neladalkib or ALECENSA® (alectinib). The primary endpoint is progression free survival (PFS) based on Blinded Independent Central Review (BICR). Secondary endpoints include PFS based on investigator's assessment, and BICR assessment of objective response rate (ORR), intracranial objective response rate (IC-ORR), overall survival (OS), and safety.

About Nuvalent
Nuvalent, Inc. (Nasdaq: NUVL) is a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, designed to overcome the limitations of existing therapies for clinically proven kinase targets. Leveraging deep expertise in chemistry and structure-based drug design, we develop innovative small molecules that have the potential to overcome resistance, minimize adverse events, address brain metastases, and drive more durable responses. Nuvalent is advancing a robust pipeline with investigational candidates for ROS1-positive, ALK-positive, and HER2-altered non-small cell lung cancer, and multiple discovery-stage research programs.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding Nuvalent's strategy, business plans, and focus; the expected timing of data announcements; the clinical development programs for our investigational product candidates, including neladalkib; the potential clinical effects of our investigational product candidates, including neladalkib; the design and enrollment of Nuvalent's clinical trials, including for the ALKOVE-1 and ALKAZAR trials their intended pivotal registration-directed design; the potential of Nuvalent's pipeline programs, including neladalkib, zidesamtinib and NVL-330; the implications of data readouts and presentations; timing and content of FDA submissions and interactions; Nuvalent's research and development programs for the treatment of cancer; and risks and uncertainties associated with drug development. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "aim," "goal," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" or the negative of these terms and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. You should not place undue reliance on these statements or the scientific data presented.

Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties, and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation: risks that Nuvalent may not fully enroll its clinical trials or that enrollment will take longer than expected; unexpected concerns that may arise from additional data, analysis, or results obtained during preclinical studies and clinical trials; the risk that preliminary results of clinical trials may not be predictive of future results from the same or other trials; the risk that results of earlier clinical trials may not be predictive of the results of later-stage clinical trials; the risk that data from our clinical trials may not be sufficient to support registration and that Nuvalent may be required to conduct one or more additional studies or trials prior to seeking registration of zidesamtinib and neladalkib; the occurrence of adverse safety events; risks that the FDA may not approve our potential products on the timelines we expect, or at all; risks of unexpected costs, delays, or other unexpected hurdles; risks that Nuvalent may not be able to nominate drug candidates from its discovery programs; the direct or indirect impact of public health emergencies or global geopolitical circumstances on the timing and anticipated timing and results of Nuvalent's clinical trials, strategy, and future operations, including the ALKOVE-1 and ALKAZAR trials; the timing and outcome of Nuvalent's planned interactions with regulatory authorities and the ability of Nuvalent to interact with such officials as a result of government shutdowns or other political circumstances; and risks related to obtaining, maintaining, and protecting Nuvalent's intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Nuvalent's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, as well as any prior and subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Nuvalent's views only as of today and should not be relied upon as representing its views as of any subsequent date. Nuvalent explicitly disclaims any obligation to update any forward-looking statements.

SOURCE Nuvalent, Inc.

TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today reported operational and financial results for the third quarter 2025. THIRD QUARTER 2025 HIGHLIGHTS Produced Q3-2025 net production volumes of 1,566 barrels of oil per day (“Bbls/d”), an increase of 5% compared to Q2-2025; Reported 2,398 barrels of oil equivalent per day (“Boe/d”); Boe/d i.

IXICO PLC (LSE:IXI, OTC:PHYOF) shares jumped 5% to 11.28p after the neuroscience analytics specialist landed a four-year contract worth more than £3.5 million to support a global phase III trial in Huntington’s Disease.

The London-based group will provide imaging services for the study under a deal with a major pharmaceutical company. Phase III trials are the final and most expensive stage before a drugmaker seeks regulatory approval, making this a commercially meaningful win for IXICO.

Huntington’s is a rare, inherited disorder that destroys nerve cells in the brain and has no cure. With research efforts accelerating, IXICO has carved out a strong position in the field through its artificial intelligence platform, which detects subtle changes in neurological scans and supports biomarker development.

Chief executive Bram Goorden called the award “an important contract in terms of value and trial stage”, saying it reinforces the company’s role in Huntington’s research. He added that rising investment in rare neurological diseases is encouraging and could pave the way for significant scientific advances.

The contract also extends momentum behind IXICO’s “Innovate, Lead, Scale” strategy, aimed at expanding its global footprint across late-stage neuroscience trials.

"Building on the company’s Innovate Lead Scale strategy, we believe this late-stage contract further demonstrates IXICO’s position as a leading imaging contract research organisation providing services on a global basis," said broker Cavendish in a note to clients, reiterating its 24p price target.

, /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced a 400-bed community expansion ("Community Expansion" or the "Expansion") to the previously announced 250-bed data center community ("Data Center Community" or the "Community").         

The Community Expansion represents a 160% increase from the initial Community size, resulting in a customized and purpose-built community capable of supporting up to 650 individuals ("Expanded Data Center Community").  As a reminder, this Community can grow to support up to 1,500 individuals.

The Expansion is expected to provide approximately $40 million of committed minimum revenue over its initial two-year term through March 2028 ("Expansion Contract").  Additionally, the Expansion Contract includes four one-year extension options after the initial term, enabling seamless contract extensions through March 2032.

The Expansion Contract increases the total contract value for the Expanded Data Center Community to approximately $83 million in committed minimum revenue, representing an over 90% increase from the initial $43 million Data Center Community contract value. 

Target will utilize a portion of its existing asset portfolio to complete the Community Expansion, resulting in a capital investment of approximately $10 to $15 million.  The Company will begin construction on the Expansion in the fourth quarter of 2025, with anticipated completion in the first quarter of 2026.  This decision illustrates Target's ability to utilize existing assets to service a range of end-market demand while simultaneously high-grading its contract portfolio.

The pace of Target's customer activity underscores the growing demand for purpose-built, highly customized hospitality solutions, which are crucial to the development of AI and data center infrastructure.  With this increased focus on workforce accommodations, Target is in advanced discussions regarding other potential commercial opportunities to support this accelerating industry demand.  Target's ability to deliver tailored communities focused on speed-to-market solutions positions the Company as a critical part of the data center value chain, creating a key strategic growth vertical.

"We are excited to support the rapid growth in our customers' demand and provide vital solutions that contribute to the success of this data center project. The development activity is remarkable, with the community size increasing by 160% in three months, exceeding our expectations. Target's ability to respond to this accelerated demand demonstrates the advantages of our vertically integrated accommodations platform and the unique capabilities of our Target Hyper/Scale brand. We believe these qualities establish Target as an essential partner in this industry and a leading provider of customized hospitality solutions that support this rapidly expanding AI and data center end market," stated Brad Archer, President and Chief Executive Officer.  

About Target Hospitality

Target Hospitality is one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services in the United States. Target builds, owns and operates a customized and growing network of communities for a range of end users through a full suite of value-added solutions including premium food service management, concierge, laundry, logistics, security and recreational facilities services.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements made in this press release (including the financial outlook contained herein) are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: operational, economic, including inflation, political and regulatory risks; our ability to effectively compete in the specialty rental accommodations and hospitality services industry, including growing the HFS – South, Government and Workforce Hospitality Solutions segments; effective management of our communities; natural disasters and other business disruptions, including outbreaks of epidemic or pandemic disease; the duration of any future public health crisis, related economic repercussions and the resulting negative impact to global economic demand; the effect of changes in state building codes on marketing our buildings; changes in demand within a number of key industry end-markets and geographic regions; changes in end-market demand requirements that could lead to cancelation of contracts for convenience in the Government segment; our reliance on third party manufacturers and suppliers; failure to retain key personnel; increases in raw material and labor costs; the effect of impairment charges on our operating results; our future operating results fluctuating, failing to match performance or to meet expectations; our exposure to various possible claims and the potential inadequacy of our insurance; unanticipated changes in our tax obligations; our obligations under various laws and regulations; the effect of litigation, judgments, orders, regulatory or customer bankruptcy proceedings on our business; our ability to successfully acquire and integrate new operations; global or local economic and political movements, including any changes in policy under the Trump administration or any future administration; federal government budgeting and appropriations; our ability to effectively manage our credit risk, liquidity and collect on our accounts receivable; our ability to fulfill Target Hospitality's public company obligations; any failure of our management information systems;  our ability to refinance debt on favorable terms and meet our debt service requirements and obligations; and risks related to our outstanding debt obligations.  We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

Investor Contact

Mark Schuck
(832) 702 – 8009
[email protected]

SOURCE Target Hospitality

Ethereum’s extreme fear reading and strong $3,100 support suggest a sharp rebound could trigger over $3 billion in Short liquidations above $3,500.Solana’s ETF inflows contrast with bearish sentiment, positioning a move toward $156 to unleash nearly $800 million in Short-side liquidation pressure.Zcash shows concentrated Long-side risk, with a drop under $600 threatening $123 million in liquidations as leveraged open interest hits record levels.The market has moved past the halfway point of November, and the total altcoin market cap has fallen below $1 trillion. The ability of altcoins to rebound while sentiment hits rock bottom may trigger volatility and large-scale liquidations in several assets.

Which altcoins face this risk, and what special factors deserve close attention? Details follow below.

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1. Ethereum (ETH)Ethereum’s liquidation map shows a clear imbalance between potential liquidation volumes on the Long and Short sides.

Traders are allocating more capital and leverage to Short positions. As a result, they would suffer heavier losses if ETH rebounds this week.

ETH Exchange Liquidation Map. Source: CoinglassIf ETH rises above $3,500, more than $3 billion worth of Short positions could be liquidated. In contrast, if ETH drops below $2,700, Long liquidations would total only about $1.2 billion.

Short sellers have reasons to maintain their positions. ETH ETFs recorded $728.3 million in outflows last week. Additionally, crypto billionaire Arthur Hayes has recently sold ETH.

However, on the technical side, ETH remains at a major support zone around $3,100. This level has the potential to trigger a strong recovery.

The sentiment indicator for ETH has also fallen into extreme fear. Historically, ETH has often rebounded sharply from similar conditions.

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Because of this, an ETH recovery has a solid basis and could trigger significant losses for Short traders.

2. Solana (SOL)Similar to ETH, Solana’s liquidation map also shows a strong imbalance, with Short liquidation volume dominating.

SOL’s drop below $150 in November has led many short-term traders to expect a further decline toward $100. Not only retail traders, but whales have also shown short-selling behavior this month.

However, SOL ETF data paints a more positive picture. According to SoSoValue, U.S. SOL ETFs recorded a net inflow of more than $12 million on November 14 and over $46 million for the past week. Meanwhile, both BTC ETFs and ETH ETFs saw negative net flows.

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SOL ETF Daily Total Net Inflow. Source: SoSoValueThis gives SOL a reason to rebound, as investors still see strong ETF demand. The liquidation map shows that if SOL climbs to $156, Short liquidations may reach nearly $800 million.

SOL Exchange Liquidation Map. Source: CoinglassConversely, if SOL falls to $120 this week, Long liquidations could reach around $350 million.

3. Zcash (ZEC)In contrast to ETH and SOL, ZEC’s liquidation map shows that Long traders face the bulk of potential liquidation risk.

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Short-term traders appear confident that ZEC will continue forming higher highs in November. They have reasons for this outlook. ZEC locked in the Zcash Shielded Pool has increased sharply this month, and several experts still expect ZEC to reach as high as $10,000 potentially.

ZEC Exchange Liquidation Map. Source: CoinglassHowever, ZEC has faced repeated rejections near the $700 level. Many analysts, therefore, worry about a correction this week.

If a correction occurs and ZEC drops below $600, Long liquidations could exceed $123 million.

Moreover, Coinglass data shows that ZEC’s total open interest reached an all-time high of $1.38 billion in November. This reflects a high level of leveraged exposure, which increases the risk of volatile moves and large-scale liquidations.

ZCash Futures Open Interest. Source: CoinglassBecause of this, holding Long positions in ZEC could offer short-term gains. But without clear take-profit or stop-loss plans, these positions could quickly face liquidation pressure.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

A Hyperliquid whale, undeterred by the BTC downturn, made a bet on a wide selection of altcoins, including older assets and memes.

Published
19 minutes ago on
November 17, 2025

Falcon Finance, the synthetic dollar protocol whose TVL has been climbing all year, has unveiled a new transparency and security framework for USDf. The all-new standard being rolled out by Falcon is a reflection of both demand from its users and the level it aspires to reach now that the supply of its yield-bearing stablecoin has surpassed $2B. No longer the plucky contender, USDf has evolved into a major player and serious rival to USDe.

Falcon’s stablecoin protocol enables users to lock crypto assets as collateral – including plain stablecoins such as USDT and USDC – and to mint USDf. After minting the synthetic stablecoin, they can then earn yield on it through staking it in the Falcon Finance dashboard – and additionally utilize the liquid token they receive in return to explore further earning opportunities across the DeFi ecosystem. The launch of a new transparency framework attests to the progress USDf has made this year – and indicates where Falcon’s DeFi protocol is headed next.

Transparency as a ServiceWhile USDf has had a very good year, the broader yield-bearing stablecoin sector has encountered the occasional speed-bump, the latest being the depeg of Stream’s xUSD, whose yield strategies were found to be deviating from delta-neutral sources – despite what its founders had claimed to the contrary. While not a USDf problem, it’s understandable that Falcon Finance should have used the opportunity to reassure users that USDf is fully backed – and that its yield is fully sustainable.

Unveiling its new risk management framework, Falcon’s Andrei Garchev said: “Users should never have to guess what is backing their assets or how risk is being managed. If USDf is to serve as collateral and a yield instrument for serious builders and institutions, its reserves, custody, and controls must be transparent by default and validated by independent experts.”

Putting It All on the TableFalcon Finance had already released a transparency dashboard that reveals key metrics concerning the backing for its native stablecoin, full breakdown of reserves, and yield strategy allocation. This framework has since been further enhanced by the addition of new metrics that provide an unprecedented insight into the security and risk-management parameters built into USDf. After staking USDf to create sUSDf, Falcon users can tap into a yield-bearing token that leverages diversified, institutional-grade trading strategies.

Not only does Falcon enable users to view near real-time data points concerning USDf’s backing and supply, but it enlists independent auditors to provide attestation. Coupled with third-party smart contract audits, these measures have bolstered confidence in USDf, contributing to its growing adoption by retail DeFi users and institutions too.

Falcon Finance believes that it can attract clients, including Web3 projects overseeing Digital Asset Treasuries (DATs), seeking yield that beats the returns available from ETH staking. With yield for staked USDf currently standing at over 9%, it’s currently delivering around 2x that benchmark. Falcon’s decision to provide full transparency into its operations should help to further grow TVL while driving greater institutional adoption of yield-bearing stablecoins, now a $15B sector.

Disclaimer: 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.

XRP price is trading with renewed strength as traders prepare for a volatile macro week ahead. Mainly dominated by U.S. inflation data, retail sales numbers, and fresh comments from Federal Reserve officials. Despite last week’s choppy market conditions, XRP has maintained a steady structure, outperforming several large-cap altcoins. It has also attracted interest from traders looking for assets showing relative stability during Bitcoin’s pullback.

XRP Price Analysis: Bulls Defend Key Support LevelsThe XRP price continues to defend the $2.20 support region, a level that has cushioned multiple pullbacks in recent sessions. Each dip into this zone has been quickly absorbed, highlighting strong spot demand and healthy liquidity on the buy side. For bullish momentum to accelerate, XRP needs a decisive close above the $2.30 resistance, which has capped upside attempts for over a week.

A breakout above $2.30 would position XRP for a potential 10–15% rally, targeting $2.45, followed by a secondary resistance near $2.52, where a larger liquidity cluster sits.  But the question arises, are the bulls still in play?

XRP is rebounding from the strong demand zone at $2.18–$2.20, forming a short-term double-bottom structure, while Bollinger Bands show early expansion, hinting at rising volatility. The CMF is trending higher, signaling improving buy-side pressure even as price remains in a broader range. A sustained move above the mid-band and $2.30 could trigger a push toward the $2.45 and $2.60 resistance levels. However, failure to hold $2.18 may reopen downside risk toward $2.05. For now, momentum favors a relief bounce toward the upper range targets.

Final Thoughts: What Could Trigger the Next Move?This week’s U.S. inflation data and Fed commentary remain the biggest external catalysts. A cooler-than-expected CPI reading could boost risk appetite and help XRP power through the $2.30 barrier. Conversely, a hotter print may delay a breakout and drag the price back toward $2.18–$2.20, a level that must hold to preserve the bullish structure.

XRP price is well-positioned for a breakout attempt as long as it maintains support above $2.20. A strong move through $2.30could ignite a fresh upside wave toward $2.45–$2.52, while extended macro pressure may keep the token consolidating within its current tight range.

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

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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11h05 ▪
4
min read ▪ by
James G.

Summarize this article with:

U.S. Bitcoin ETFs faced another difficult week as steady capital outflows added strain to an already uneasy market. Investor caution increased as withdrawals accelerated, pushing Bitcoin further below the $100,000 mark and signaling a broader loss of confidence in digital assets.

In brief

US Bitcoin ETFs record a tough week with $492M in Friday outflows and more than $1.1B pulled from funds over seven days.
BlackRock’s IBIT leads exits with $463M out, while only Grayscale’s BTC product posts small inflows amid broad market caution.
Bitcoin trades near $95.5K after slipping below $100K, with nearly 10% weekly losses and rising fear across major crypto assets.
Traders cite profit-taking, thin liquidity, and macro uncertainty as key forces weighing on sentiment and driving reduced exposure.

Bitcoin ETFs Extend Losing Streak With Third Straight Day of Heavy Outflows
U.S.-based Bitcoin ETFs recorded more than $492 million in net outflows on Friday, marking a third consecutive day of declines. Outflows have persisted for weeks, and traders continue to scale back their exposure while volatility remains high.

BlackRock’s IBIT led Friday’s withdrawals with $463.10 million in outflows, extending a series of sharp pullbacks. Grayscale’s GBTC followed with $25.09 million in outflows, while Fidelity’s FBTC saw $2.06 million leave the fund. 

Only Grayscale’s BTC product attracted new capital, bringing in $4.17 million. Meanwhile, WisdomTree’s BTCW posted a smaller loss of $6.03 million. Most other ETFs—including ARKB, BRRR, EZBC, and DEFI—reported no inflow or outflow activity. 

Cumulative net inflows remain positive at 58.85B, while total net assets stand at $125.34 billion, roughly 6.67% of Bitcoin’s market cap. Still, Thursday’s $869.86 million withdrawal set the tone for a weak finish. By the end of the week, U.S. ETF outflows reached more than $1.11 billion, marking one of the heaviest weekly departures in recent months.

BTC Decline Continues With Traders Watching for Further Losses
Pressure in ETF flows mirrors Bitcoin’s recent price movement. BTC fell below the key $100,000 level earlier in the week and is now trading near $95,500. Minor intraday recoveries have not eased concerns, as broader sentiment remains firmly risk-off. Market data indicate that Bitcoin has declined by nearly 10% over the past week, with fear spreading across major assets.

Several factors continue to weigh on crypto markets:

Profit-taking after earlier highs reduces buying interest.
Thin liquidity amplifies price swings during sell-offs.
Macro uncertainty keeps traders defensive.
Fed rate cut odds near 50% leave markets without a clear direction.
Delayed economic data adds hesitation to risk-taking.

Some investors see the retracement as a healthy pause following the strong momentum earlier in the year. Market behavior remains orderly, indicating controlled selling rather than widespread capitulation.

Bitcoin ETFs have become a key indicator of institutional sentiment, and a shift back toward inflows could help stabilize market conditions. For now, traders are watching to see whether Bitcoin can hold above current levels or whether further declines will shape the coming weeks.

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James G.

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

DISCLAIMER

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