Market Signal Briefing

TL;DR

Perpetual futures DEXs surpassed the $1 trillion mark in monthly volume, hitting $1.226T in September, up 48% from August.
Aster led with $493.61B and nearly half the market, followed by Hyperliquid with over $280B and Lighter DEX with $164.4B in private beta.
Aster generated $121M in fees in just one week, outpacing Circle and closing in on Tether, while Hyperliquid added $23M.

Decentralized perpetual futures exchanges crossed the $1 trillion monthly volume threshold for the first time, underscoring the market’s rapid expansion.

According to DeFiLlama data, perpetual trading platforms in the DeFi space processed $1.226 trillion over the past 30 days, a 48% increase from the $707.6 billion recorded in August.

Aster Leads Market Activity
The surge was fueled by Aster and Hyperliquid, which became the central drivers of onchain derivatives activity. Aster took the lead with $493.61 billion, nearly half of the entire market, while Hyperliquid recorded more than $280 billion over the same period.

Lighter DEX, still in private beta, surprised observers after reaching $164.4 billion and securing third place. Other projects such as EdgeX, Pacifica, and Bybit-affiliated Apex Protocol contributed a combined $116 billion.

In terms of fee generation, Aster outperformed Circle and closed in on Tether. Over the past week, it brought in $121 million, compared to Circle’s $56 million and just $34 million short of Tether. Hyperliquid generated $23 million and remained among the top five revenue-generating protocols in the market.

Formerly known as APX Finance, Aster rebranded after merging with Astherus and with the backing of YZi Labs. Positioned as a Binance-adjacent perp DEX, it attracted significant liquidity and pushed its token to a fully diluted valuation of $14.6 billion, currently trading at $1.82.

Hyperliquid Remains the Dominant DEX
Despite Aster’s rapid rise, Hyperliquid continues to dominate with roughly 70% of the perp DEX market share. The platform has consistently posted record-breaking activity, including $248 billion in 24-hour trading volume in May and $106 million in revenue in August — the highest figure across DeFi protocols. Its HYPE token trades at $49.63 with a fully diluted valuation of $49.5 billion.

The growth of perpetual DEXs also puts them in direct comparison with Binance, the leading centralized exchange. Over the last 24 hours, Binance Futures reported $83 billion in trading volume, while Aster and Hyperliquid combined for $78 billion despite being barely a year old, compared to Binance’s six years of operation

In the world of cryptocurrency, few events make headlines as much as large-scale Bitcoin purchases. Tether, the issuer of the largest stablecoin USDT, has surge intense debate after confirming a $1 billion Bitcoin acquisition, equivalent to around 8,800 BTC, in the third quarter of 2025.

Ripple's RLUSD stablecoin is unlocking a new era of financial access in Africa, driving faster payments, beating inflation, and bridging banking gaps with blockchain precision.

The market is picking up even more steam today, making the crypto price prediction for these 3 alts very bullish.

Journalist

Posted: October 3, 2025

Key Takeaways
What fueled ZEC’s rally?
Zcash jumped 58% as market cap crossed $2.3 billion, with Futures Taker CVD showing strong buyer-side dominance.

Can Zcash’s momentum hold?
The breakout cleared $100 resistance, but neutral Spot indicators left sustainability uncertain without broader market inflows.

Zcash [ZEC] stunned the market with a 58% rally, at press time, in the past 24 hours, lifting its price near $146.

The surge pushed its circulating market cap to a record $2.27 billion, drawing fresh attention to the privacy-focused token.

AMBCrypto will break down what this milestone means, how Futures market data reflects trader positioning, and whether technical charts support a sustained move past the $100 level.

ZEC circulating market cap reaches record high
Crossing the $2 billion mark is more than just a key achievement for ZEC.

Market capitalization reflected not only price movement but also overall network valuation and setting a new all-time high suggested that investor confidence in ZEC had been strengthening. 

For a token that usually sits outside top-tier attention, this milestone signaled a shift in perception. Traders suggested it could open the door to further inflows and higher resistance tests.

Source: Token Terminal

Futures tilt toward buyers
Adding to the bullish outlook, CryptoQuant’s Futures Taker Cumulative Volume Delta (CVD) data indicated clear buyer dominance in leveraged markets.

The metric highlighted how buy-side volume outweighed sell-side flows, suggesting conviction behind ZEC’s rally.

Even so, the size of buyer dominance remained below levels seen in ZEC’s earlier bull runs. That suggested leverage supported the rally, but conviction had not yet reached euphoric levels.

Spot indicators stayed neutral at press time, leaving traders to watch whether futures-driven pressure would spill into ZEC’s spot market.

Source: CryptoQuant

Zcash technicals also lean bullish
By contrast, TradingView charts showed ZEC extended its three-day surge after breaking out of a consolidation channel. Clearing the $100 psychological resistance left traders eyeing $200 if momentum persisted.

Daily Bollinger Bands widened to their highest in years, at press time, confirming heavy volatility. That pointed to continuation potential, but also warned of retracement risk as gaps remained below.

At the same time, the Stochastic Momentum Index hovered above 60, showing strong momentum but not yet extreme exhaustion.

The bias leaned bullish, though traders flagged cautionary signals of overextension.

Source: TradingView

Momentum or overextension?
The combination of a new market cap peak and Futures market buyer dominance painted a constructive short-term outlook for ZEC.

If the momentum continues, traders and investors alike could see further price appreciation in the coming days. 

However, sustainability remains the key question. Without follow-through from broader market conditions and Spot activity, rallies driven primarily by futures traders can risk quick reversals.

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Uptober continues with explosive rallies here and there: XRP is readying to break $3, Bitcoin is barely handling the enormous buying support it is facing and Shiba Inu might finally be ready for $0.00002.

XRP can smell $3Right now, XRP is hovering just below $3, one of the most important resistance levels on its daily chart. Even though the asset has recovered from recent lows thanks to bullish momentum, the technical setup indicates that XRP may soon face a make-or-break moment. On the daily chart, short-term buyers are pushing the price toward the descending trendline resistance as XRP rises back above its 50-day EMA. 

XRP/USDT Chart by TradingViewThis level is very close to the crucial $3 threshold and has consistently rejected XRP since its peak in July. Selling pressure is particularly strong in this area due to the presence of a distinct downward-sloping resistance line and convergent moving averages. Despite the fact that interest in the asset has returned, the moderate volume indicates that there is not enough explosive confirmation to indicate a real breakout.

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The RSI, on the other hand, is at about 55, giving XRP some leeway for growth while simultaneously indicating traders' caution. Higher levels at $3.20 and $3.50 might become possible if XRP can decisively break through the $3 resistance. The chart does, however, clearly indicate that this zone will serve as a barrier.

If the price does not break $3, it might retrace back toward $2.84 or even lower to $2.61. In the past, XRP has had difficulty holding onto gains above $3 in the absence of powerful catalysts, and the momentum of Bitcoin continues to dominate the market today. If there are no notable volume inflows or fundamental news, XRP might experience yet another severe rejection.

Bitcoin overheatingBitcoin is on its way to hitting the $120,000 mark. A warning sign for the rally, though, is that Bitcoin is now approaching overbought conditions on a number of time frames, which raises the possibility of a pullback.

Bitcoin has surged above the 50 and 100 EMAs on the daily chart, demonstrating strong momentum following its recovery from support around $112,000. The RSI is currently above 70, indicating that the rally may be ahead of itself, even though momentum is still strong. Although volume has also increased during the surge, indicating that buyers are actively driving prices higher, these parabolic movements frequently result in temporary exhaustion.

BTC/USDT Chart by TradingViewIt is interesting to note that increased uncertainty in conventional markets is accompanied by this most recent rally. The U.S. government shutdown this week has caused volatility in the bond and equity markets. Bitcoin has historically done well in these times, and investors have used it as a substitute hedge. Indeed, when the previous U.S. government shutdown occurred, Bitcoin also saw a significant surge as traders sought assets outside of traditional finance.

The key resistance level, which serves as both a psychological barrier and a possible profit-taking zone, is currently at $120,000. The next targets for Bitcoin, if it can cleanly break above this level, are between $124,000 and $126,000. On the downside, the 200 EMA is close to $106,500, which would act as a deeper reset level if momentum wanes and $114,000 provides immediate support.

Shiba Inu's key confrontationAs it moves closer to the $0.000012 resistance level, Shiba Inu is confronted with one of its most crucial technical moments in months. This level could dictate the token’s course over the next 1-2 months, making it more than just another price checkpoint.

The daily chart shows that, following weeks of sideways consolidation, SHIB has recovered well from support around $0.0000114, regaining bullish momentum. As the price moves closer to the upper limit of its symmetrical triangle pattern, the 50 and 100 EMAs are serving as immediate obstacles.

SHIB is currently testing the $0.000012 zone, which has historically served as both strong support and resistance. A decisive breakout above this level could open the doors to $0.0000136 and $0.000014, aligning with the descending trendline resistance from earlier peaks. During this climb, volume has started to rise, albeit not dramatically, indicating cautious optimism among traders rather than pure euphoria.

The RSI, meanwhile, is slightly above 50, suggesting that the market is balanced and has potential for both upward continuation and correction should momentum wane. The downside risk is a return to the $0.0000114-$0.0000112 support range if SHIB is unable to break through $0.000012 with conviction. The consolidation phase would be prolonged by such a rejection, possibly postponing any breakout attempts until late October or early November.

Given the bullish sentiment on the larger cryptocurrency market, particularly with Bitcoin regaining its higher levels, and October (also known as Uptober) historically favoring rallies, SHIB’s current test is very important. Restoring retail flows into the token and solidifying bullish sentiment could be achieved by a successful breach of $0.000012.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of WBD either through stock ownership, options, or other derivatives. 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.

Disclaimer: I am not an investment advisor and this is not a recommendation to buy or sell a security. Investors are recommended to read all of the company's filings and press releases as well as do their own research to determine if the company fits their own investment objectives and risk portfolios.

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Alphabet has been preparing for two years to sell its life sciences unit, Verily, a company executive told a court Thursday (Oct. 2).

Testifying as a defense witness in the Justice Department’s antitrust case against another Alphabet business unit, Google, which involves the company’s advertising technology, Heather Adkins, Google’s vice president of security engineering, said Verily has been working to move from Google’s own infrastructure to Google Cloud, Bloomberg reported Thursday.

“We are in the process of helping them become an independent company,” Adkins said, speaking of Verily, according to the report.

This is the first time a Google executive has said the company aims to spin off Verily, the report said.

A Verily spokesperson told Bloomberg, per the report: “At the end of 2024, we finalized a long planned separation to our own technical and operational infrastructure from Google, so that we can continue to grow as an independent company within Alphabet,” and added that they do not comment on nonpublic information.

Alphabet led a $1 billion investment round for Verily in September 2022. Verily said at the time that the capital would be used “to support a variety of the company’s core initiatives focused on real-world evidence generation, healthcare data platforms, research and care, and the underlying technology that drives this work.”

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Verily also said at the time that it would consider future investments in strategic partnerships, global business development and acquisitions.

It was reported in August that Verily laid off staff and wound down its medical devices program as part of a shift of its focus to artificial intelligence (AI) and data infrastructure.

The move mirrored Alphabet’s efforts to cut costs in some areas and boost its investment in AI, TechCrunch said in that report.

In June, Verily said in a press release that it extended its partnership with Vanderbilt University Medical Center to provide researchers with cloud-based access to analyze biomedical data through the National Institutes of Health All of Us Research Program’s Researcher Workbench program.

The company said its curation and enrichment capabilities support a research ecosystem made up of proprietary and third-party datasets that can be accessed and analyzed.

In the latest trading session, Onto Innovation (ONTO - Free Report) closed at $139.83, marking a +1.89% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.06%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.39%.

Prior to today's trading, shares of the maker of semiconductor manufacturing equipment had gained 33.68% outpaced the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.

Analysts and investors alike will be keeping a close eye on the performance of Onto Innovation in its upcoming earnings disclosure. In that report, analysts expect Onto Innovation to post earnings of $0.89 per share. This would mark a year-over-year decline of 33.58%. Alongside, our most recent consensus estimate is anticipating revenue of $218.24 million, indicating a 13.47% downward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.92 per share and a revenue of $992.52 million, indicating changes of -7.87% and +0.53%, respectively, from the former year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Onto Innovation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Onto Innovation is currently a Zacks Rank #4 (Sell).

Looking at valuation, Onto Innovation is presently trading at a Forward P/E ratio of 27.91. This represents no noticeable deviation compared to its industry average Forward P/E of 27.91.

Also, we should mention that ONTO has a PEG ratio of 0.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Nanotechnology industry held an average PEG ratio of 0.93.

The Nanotechnology industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 5% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

In the latest close session, MakeMyTrip (MMYT - Free Report) was up +2.17% at $94.34. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.39%.

Prior to today's trading, shares of the online travel company had lost 7.69% lagged the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.

The investment community will be paying close attention to the earnings performance of MakeMyTrip in its upcoming release. The company is expected to report EPS of $0.45, up 25% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $264.28 million, up 25.26% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $2.16 per share and a revenue of $1.19 billion, demonstrating changes of +38.46% and +21.79%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for MakeMyTrip. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, MakeMyTrip is carrying a Zacks Rank of #3 (Hold).

In terms of valuation, MakeMyTrip is currently trading at a Forward P/E ratio of 42.75. Its industry sports an average Forward P/E of 14.77, so one might conclude that MakeMyTrip is trading at a premium comparatively.

The Internet - Delivery Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 169, positioning it in the bottom 32% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Kyndryl Holdings, Inc. (KD - Free Report) closed the most recent trading day at $30.51, moving +1.63% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.39%.

The stock of company has fallen by 6.22% in the past month, lagging the Business Services sector's gain of 0.95% and the S&P 500's gain of 3.94%.

The investment community will be paying close attention to the earnings performance of Kyndryl Holdings, Inc. in its upcoming release. The company is forecasted to report an EPS of $0.39, showcasing a 3800% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.84 billion, up 1.78% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.2 per share and revenue of $15.65 billion, indicating changes of +84.87% and +3.92%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Kyndryl Holdings, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.28% fall in the Zacks Consensus EPS estimate. As of now, Kyndryl Holdings, Inc. holds a Zacks Rank of #5 (Strong Sell).

Investors should also note Kyndryl Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 13.63. For comparison, its industry has an average Forward P/E of 22.1, which means Kyndryl Holdings, Inc. is trading at a discount to the group.

We can also see that KD currently has a PEG ratio of 2.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.83.

The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 63, placing it within the top 26% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Halliburton (HAL - Free Report) closed the most recent trading day at $24.38, moving -2.09% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.39%.

Coming into today, shares of the provider of drilling services to oil and gas operators had gained 15.33% in the past month. In that same time, the Oils-Energy sector gained 0.54%, while the S&P 500 gained 3.94%.

The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on October 21, 2025. The company's upcoming EPS is projected at $0.5, signifying a 31.51% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $5.39 billion, down 5.31% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $2.11 per share and a revenue of $21.43 billion, demonstrating changes of -29.43% and -6.6%, respectively, from the preceding year.

Any recent changes to analyst estimates for Halliburton should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.45% downward. Halliburton currently has a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 11.81 right now. This denotes a discount relative to the industry average Forward P/E of 17.47.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 44% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

In the latest close session, Dick's Sporting Goods (DKS - Free Report) was down 1.05% at $230.40. The stock's change was less than the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.39%.

Prior to today's trading, shares of the sporting goods retailer had gained 10.77% outpaced the Retail-Wholesale sector's gain of 0.29% and the S&P 500's gain of 3.94%.

The upcoming earnings release of Dick's Sporting Goods will be of great interest to investors. On that day, Dick's Sporting Goods is projected to report earnings of $2.72 per share, which would represent a year-over-year decline of 1.09%. Alongside, our most recent consensus estimate is anticipating revenue of $3.17 billion, indicating a 3.82% upward movement from the same quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.38 per share and revenue of $13.97 billion. These totals would mark changes of +2.35% and +3.89%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Dick's Sporting Goods. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.08% rise in the Zacks Consensus EPS estimate. Dick's Sporting Goods currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Dick's Sporting Goods is currently trading at a Forward P/E ratio of 16.19. This expresses a premium compared to the average Forward P/E of 15.94 of its industry.

It's also important to note that DKS currently trades at a PEG ratio of 3.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Retail - Miscellaneous stocks are, on average, holding a PEG ratio of 2.57 based on yesterday's closing prices.

The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 28, placing it within the top 12% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Waste Management (WM - Free Report) closed at $216.91 in the latest trading session, marking a -1.35% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.39%.

The stock of garbage and recycling hauler has fallen by 2.02% in the past month, lagging the Business Services sector's gain of 0.95% and the S&P 500's gain of 3.94%.

The investment community will be paying close attention to the earnings performance of Waste Management in its upcoming release. The company is slated to reveal its earnings on October 27, 2025. In that report, analysts expect Waste Management to post earnings of $2.02 per share. This would mark year-over-year growth of 3.06%. At the same time, our most recent consensus estimate is projecting a revenue of $6.49 billion, reflecting a 15.79% rise from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.58 per share and revenue of $25.37 billion, indicating changes of +4.84% and +14.99%, respectively, compared to the previous year.

Investors might also notice recent changes to analyst estimates for Waste Management. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.42% upward. Waste Management currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Waste Management has a Forward P/E ratio of 29.02 right now. This represents a discount compared to its industry average Forward P/E of 30.6.

We can additionally observe that WM currently boasts a PEG ratio of 2.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Waste Removal Services industry had an average PEG ratio of 2.53 as trading concluded yesterday.

The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Ralph Lauren (RL - Free Report) closed the most recent trading day at $322.38, moving +1.56% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.06%. Meanwhile, the Dow experienced a rise of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.39%.

The upscale clothing company's shares have seen an increase of 1.3% over the last month, surpassing the Consumer Discretionary sector's loss of 1.49% and falling behind the S&P 500's gain of 3.94%.

The investment community will be paying close attention to the earnings performance of Ralph Lauren in its upcoming release. The company's earnings per share (EPS) are projected to be $3.34, reflecting a 31.5% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.87 billion, up 8.48% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.77 per share and a revenue of $7.51 billion, signifying shifts of +19.79% and +6.06%, respectively, from the last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Ralph Lauren. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. At present, Ralph Lauren boasts a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Ralph Lauren is holding a Forward P/E ratio of 21.49. For comparison, its industry has an average Forward P/E of 15.44, which means Ralph Lauren is trading at a premium to the group.

One should further note that RL currently holds a PEG ratio of 1.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Textile - Apparel industry was having an average PEG ratio of 2.24.

The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Akamai Technologies (AKAM - Free Report) closed the most recent trading day at $78.01, moving +2.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.39%.

Prior to today's trading, shares of the cloud services provider had lost 2.22% lagged the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.

The upcoming earnings release of Akamai Technologies will be of great interest to investors. The company is forecasted to report an EPS of $1.62, showcasing a 1.89% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.04 billion, reflecting a 3.7% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.66 per share and revenue of $4.17 billion. These totals would mark changes of +2.78% and +4.36%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Akamai Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.92% higher. Akamai Technologies presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Akamai Technologies is presently being traded at a Forward P/E ratio of 11.38. For comparison, its industry has an average Forward P/E of 24.61, which means Akamai Technologies is trading at a discount to the group.

We can also see that AKAM currently has a PEG ratio of 2.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.66.

The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 35% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow AKAM in the coming trading sessions, be sure to utilize Zacks.com.

Key Takeaways CRWV revenues surged 207% to $1.2B, with OpenAI contracts totaling $22.4B, boosting visibility.GOOGL's cloud revenues rose 32% to $13.6B, with a $50B run rate and expanding AI data centers.CRWV leans on rapid AI growth while GOOGL offers stability.
CoreWeave (CRWV - Free Report) and Alphabet (GOOGL - Free Report) provide cloud infrastructure services for AI workloads. CoreWeave offers GPU-accelerated infrastructure for AI, while Google is a well-established tech giant with diverse revenue sources and an expanding presence in the cloud and AI sectors.

Increased spending on AI infrastructure benefits CRWV and GOOGL, but not equally. So, if an investor wants to make a smart buy in the AI infrastructure space, which stock stands out?

Let’s scrutinize closely to find out which of these two stocks currently holds the edge, and more importantly, which might be the smarter bet now.

CRWV: An Explosive Growth StoryThe booming demand for AI infrastructure is greatly benefiting CoreWeave, which saw its revenues skyrocket by 207% to $1.2 billion in the second quarter. This marked the company's significant milestone of its first-ever billion-dollar quarter. Adjusted EBITDA almost tripled to $753.2 million.

Strategic partnerships with major players like OpenAI and NVIDIA bode well. CoreWeave recently announced yet another expansion of its contract with OpenAI. The new expansion contract, worth $6.5 billion, involves CRWV supplying capacity for OpenAI training of its next-generation models. The total value of OpenAI contact now stands at an impressive $22.4 billion, which includes $11.9 billion agreement in March and $4 billion expansion in May. OpenAI’s (which is a leading AI company) massive contract not only enhances revenue visibility for CRWV but also validates its AI infrastructure as cutting-edge and reliable.

Collaboration with NVIDIA is another positive aspect. CoreWeave was among the first cloud providers to put NVIDIA H100, H200, and GH200 clusters into production for AI workloads. The company's cloud services are also optimized for NVIDIA GB200 NVL72 rack-scale systems. Additionally, it deployed NVIDIA GB200 NVL72 and HGX B200 systems at scale, integrated into its “Mission Control” for enhanced reliability and performance. NVIDIA also has an agreement with CRWV to purchase residual unsold capacity through April 13, 2032, subject to certain conditions.

CoreWeave is actively expanding its data center network, enabling it to serve a diverse client base with low latency and high reliability. With over 900 MW of active power targeted by year-end, CRWV is positioning itself as a top-tier provider capable of supporting large-scale AI training and inference workloads. The launch of a new Ventures Fund to invest in AI startups and several acquisitions like Weights & Biases (acquired), Core Scientific, and OpenPipe (announced) strengthen CRWV’s position.

Nonetheless, CRWV’s aggressive expansion strategy is powered partly by hefty leverage, leading to heavy interest costs, which can undermine profitability. Interest expense surged to $267 million compared with $67 million a year ago. For the third quarter, it expects interest expenses to be between $350 million and $390 million, owing to high leverage. It has a massive capex plan of $20-$23 billion. Higher capex can be a concern if revenues do not keep up the required pace to sustain such high capital intensity, especially in a macro environment where AI demand cycles could fluctuate due to competitive pricing and regulatory changes.

GOOGL: Incumbent in the Tech SpaceAlphabet is one of the dominant names in the AI cloud infrastructure space with its Google Cloud. It leads the cloud computing space, along with Microsoft and Amazon Web Services. In the last reported quarter, Google Cloud revenues (14.1% of total revenues) surged 32% year over year to $13.6 billion, driven by growth across Google Cloud products, AI infrastructure and GenAI solutions. Google Cloud’s annual revenue run rate is more than $50 billion now.

Google is witnessing increasing traction for its wide-ranging AI portfolio, given its differentiated full-stack (spanning from AI infrastructure, research, models, tools, and other products and platforms) approach to AI. GOOGL has a vast network of AI-optimized data centers and cloud regions with 42 regions and 127 zones. Google's network is supported by edge locations and subsea cables. It recently announced a new transatlantic subsea cable system called Sol to link the United States, Bermuda, the Azores and Spain.

Apart from expanding AI infrastructure and cloud footprint, its dominant position in the search domain is a key catalyst. In the second quarter of 2025, Search and other revenues (56.2% of total revenues) increased 11.7% year over year to $54.19 billion. The momentum is being driven by features like AI Overview, which boasts 2 billion users per month and is available across 200 countries. It recently made AI mode available in five new (Hindi, Indonesian, Japanese, Korean and Brazilian Portuguese) languages.  YouTube’s advertising revenues improved 13.1% year over year to $9.77 billion.

Apart from business diversification, Alphabet has stupendous financial resources. As of June 30, 2025, cash, cash equivalents and marketable securities were $95.15 billion. Alphabet generated $27.75 billion of cash from operations in the second quarter of 2025. GOOGL spent $22.45 billion on capital expenditure, generating a free cash flow of $5.3 billion in the reported quarter.

However, the intense competition from Azure and AWS is concerning. Heavy capex spend could strain margins if AI returns do not materialize. Amid explosive cloud and AI demand, it heavily invests in infrastructure and has earmarked a staggering $85 billion (up $10 billion from the previous estimate) in capex for 2025 alone.

CRWV & GOOGL’s Stock PerformanceCRWV shares have gained 18.9% while GOOGL stock is up 14.6%.

Valuation for CRWV & GOOGLValuation-wise, both Google and CoreWeave are overvalued, as suggested by the Value Score of D and F, respectively.

In terms of Price/Book, CRWV shares are trading at 21.12X, lower than GOOGL’s 8.13X.

How Do Zacks Estimates Compare for CRWV & GOOGL?Analysts have revised earnings estimates downward for CRWV's bottom line for the current year.

For GOOGL, there is a marginal upward revision.

CRWV or GOOGL: Which is a Better Pick?The stocks carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Both CoreWeave and Alphabet are well-positioned to benefit from the surging demand for AI infrastructure. Alphabet brings unmatched scale, diversification, and financial resilience, with its cloud segment experiencing rapid expansion. It remains a long-term safe bet for investors seeking stability and steady exposure to AI.

CoreWeave is capturing outsized growth, fueled by massive OpenAI contracts and NVIDIA integration. For investors looking for explosive AI-driven growth, CoreWeave seems a more compelling play.

IRVING, Texas , Oct. 2, 2025 /PRNewswire/ -- Vistra (NYSE: VST) today announced it has received regulatory approval from the Federal Energy Regulatory Commission (FERC) for its previously announced acquisition of certain subsidiaries owning seven modern natural gas generation facilities from Lotus Infrastructure Partners. The transaction remains on track to close this quarter or Q1 2026.

Australia’s Fitell Corporation, a Nasdaq-listed company, has made headlines by purchasing 216.8 million PUMP tokens for $1.5 million. This bold acquisition is part of the firm’s growing Solana-centric treasury strategy, signaling a dramatic shift from its original fitness equipment business toward becoming a digital asset-focused enterprise.

Before adding PUMP, Fitell had already allocated $10 million into Solana (SOL) through a $100 million convertible debt facility. With SOL currently trading around $203.27, this represents approximately 49,200 tokens. The new PUMP purchase therefore supplements rather than replaces its substantial SOL holdings.

PUMP is the native token powering Pump.fun, a rapidly expanding Solana-based memecoin launchpad that recently outperformed Hyperliquid in daily revenue. Fitell’s large-scale entry highlights growing institutional interest in Solana’s ecosystem, even in risk-heavy sectors like meme tokens.

Despite the strategic push, investor sentiment reacted cautiously. Fitell’s share price fell 8.31% to $5.52 after the announcement, reflecting market concern over the risks tied to such a concentrated token bet. With PUMP’s market cap at just $6.8 million, Fitell’s $1.5 million buy represents a major allocation relative to its size.

Looking ahead, Fitell plans to deploy its SOL and PUMP holdings into structured yield products, further cementing its pivot into crypto treasury management. The company also revealed plans to rebrand as “Solana Australia Corporation”, underscoring its long-term commitment to blockchain assets.

Meanwhile, market data shows PUMP has surged over 90% in market cap over the past month to around $2.5 billion, fueled by Bitcoin’s rally near $119,500. However, futures activity has cooled, with trading volume down nearly 30% to $466.8 million. Still, open interest sits near $190 million, and the token continues to trade with volatility, hovering around $0.007.

Fitell’s aggressive strategy places it at the center of Solana’s growing treasury ecosystem, reflecting both the potential and risks of institutional adoption in the crypto space.

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Ethereum (ETH) price has gained bullish momentum in the past two days akin to Bitcoin (BTC) and Gold. The top-tier altcoin, with a fully diluted valuation of about $541 billion, surged over 4% during the past 24 hours to reach a range high of about $4,517 before retracing to trade around $4,485 at press time. 

The Ethereum price pump in the last two days has almost mirrored that of Bitcoin, which has closely followed the footsteps of gold. With the wider crypto market signaling a bullish outlook, more than $470 million was liquidated from the leveraged traders during the last 24 hours. 

Top Reasons Why Ethereum Price Surged Today‘Uptober’ Crypto Bullish NarrativeHistorically, the Ethereum price has recorded positive returns in October since its inception. Moreover, Ether price is expected to record a parabolic rally in the fourth quarter, akin to the 2017 crypto summer. 

Short Squeeze ImpactHeavy liquidation of short traders in the past two days, amid ‘Uptober’ sentiment, has influenced the rising odds of a short squeeze. During the past 24 hours, a total of $129 million was liquidated from Ether’s leveraged market, with over $106 million involving short traders.

High Demand from Whale Investors The demand for Ethereum by whale investors has remained high in the recent past. For instance, aggregate market data from CoinGecko shows that a total of 13 entities, led by BitMine, have accumulated over 4 million ETH, valued at nearly $18 billion.

Market data analysis from SoSoValue shows that the U.S. spot Ether ETFs purchased Ether valued at around $80 million on Wednesday.

What’s Next for Ether Price?From a technical analysis standpoint, the ETH price has rallied above a crucial support/resistance level around $4.2k in the last two days. 

However, crypto analyst Ali Martinez recently noted that the ETH price faces a strong resistance level around $4,505.

Pi Network’s price has taken a steep hit, plunging more than 90% from its peak since the mainnet launch earlier this year. The crash has wiped out nearly $18 billion in market value, bringing Pi’s capitalization down to around $2 billion. Much of the decline is linked to a slowdown in whale accumulation, which had previously been a major driver of momentum.

Blockchain data from PiScan shows that a single mysterious whale had been aggressively buying Pi on a near-daily basis, amassing over 383 million tokens worth about $101 million. This accumulation made him the second-largest holder after the Pi Foundation, which controls more than 90 billion tokens. However, the whale abruptly stopped purchasing ten days ago, with his last recorded move being 1.4 million tokens, worth roughly $380,000, transferred from OKX to his self-custody wallet.

There are several theories behind this pause. The investor may simply be taking a break after deploying over $100 million in less than a month, or he may have already hit his accumulation target. Another possibility is a shift in sentiment—small outgoing transfers to another wallet in recent days hint at a potential move toward selling.

The timing of the halt coincides with falling investor demand. Pi’s trading volume has slumped by 20% in 24 hours to $30 million, a notably low figure for a coin with a multi-billion-dollar valuation. Even after Pi co-founder Dr. Chengdiao Fan’s appearance at TOKEN2049 in Singapore, where she refrained from disclosing details about tokenomics or exchange listings, the market response remained bearish.

From a technical perspective, Pi has broken below key support at $0.3173 and continues to form a bearish flag pattern. The coin trades under both its 50-day and 100-day moving averages, underscoring strong downside pressure. If bears push the price below $0.1837, the next logical target could be $0.10. However, reclaiming $0.3173 would signal renewed buying interest and could invalidate the bearish outlook.

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A new proposal in the New York State Senate is stirring debate in the cryptocurrency industry. State Senator Liz Krueger has introduced a bill that would impose progressive taxes on Bitcoin mining firms, targeting the largest operators while exempting smaller ones. If passed, the bill would specifically apply to proof-of-work tokens, but its real impact would be felt by Bitcoin miners across the state.

The measure is designed with two major goals: addressing environmental concerns and reducing electricity costs for everyday New Yorkers. Revenue from the proposed tax would be directed toward energy affordability programs, subsidizing utility bills for residents.

Krueger, who currently chairs the Senate Finance Committee, emphasized the burden mining companies place on local communities. “Cryptocurrency miners provide very little benefit to New York State or to the communities where they are located, but create significant costs and burdens on ratepayers, the electric grid, the local environment, and our shared climate. This bill will ensure that the costs of those negative impacts will no longer be foisted on everyone else,” she said in a press release.

Although the bill is only three pages long, it could have sweeping implications. Supporters argue that Bitcoin mining consumes massive amounts of energy with minimal economic return for local communities. Detractors warn that such regulation could stifle innovation and drive companies away from New York. Recent deals, like the $3.7 billion partnership between a Bitcoin mining firm and Google to build new data centers in the state, could be jeopardized if the legislation moves forward.

Currently, Krueger has just one co-sponsor, but her influential committee role may help push the measure through initial hurdles. Still, the outcome remains uncertain. New York has previously passed restrictive crypto laws, and while some enthusiasts remain cautiously optimistic, the state legislature has a history of taking a hard line against the industry.

At its core, the bill underscores the growing clash between cryptocurrency expansion, climate policy, and consumer protection. With energy costs and environmental impacts under scrutiny, this proposal could reshape the future of Bitcoin mining in New York.

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

VanEck has formally registered its VanEck Lido Staked Ethereum ETF in Delaware. If approved, this would expand its crypto exchange-traded funds (ETF). Anticipation of greater adoption by investors reflected in the LDO price rising above 7%.

VanEck Registers Lido Staked Ethereum ETF with Delaware Trust Filing
Based on the official document, it is registered as a statutory trust, with the agent being CSC Delaware Trust Company. The move is a significant step towards offering staked Ethereum products to all categories of investors.

The first step for most ETFs is usually a filing in the state of Delaware before approval is sought from the U.S. Securities and Exchange Commission (SEC). The registration does not guarantee an approval. However, it indicates VanEck is interested in providing additional crypto products.

The launch of the first Ethereum staking ETF has already shown how demand for such products can accelerate investor interest in ETH.

The firm already manages spot Bitcoin and Ethereum ETFs, which have seen notable inflows since their approval. By tying the new product to Lido’s staked Ethereum, VanEck is aiming to capture growing investor demand for yield-generating digital assets.

VanEck Eyes Edge in Growing Staked Ethereum Market
Staked Ethereum represents tokens locked on the Ethereum network to secure transactions. Currently, the best platform for this purpose is Lido because it provides liquidity to the user. If not, their assets would have been locked.

Investors can continue to receive staking rewards through liquid staking and also trade Ethereum. Integrating this model into an ETF structure allow large investors to receive staking returns without needing to understand blockchain specifics.

Institutional adoption of crypto products is accelerating after the launch of spot Ethereum ETFs. The filing may be a part of VanEck’s strategy to remain ahead of competitors like BlackRock and Fidelity, who might also explore staking-related investment vehicles.

Lido Token Jumps as VanEck Filing Sparks Optimism
Delaware has become the main jurisdiction for registering new funds because of its favorable trust laws. Most statutory trusts begin here before advancing toward SEC evaluation. The SEC recently granted generic listing approval for Grayscale Ethereum ETFs, showing how quickly the regulatory landscape for such products is evolving.

The listing of CSC Delaware Trust Company as the registered agent follows a common structure for large asset managers. The news had an effect on the price of Lido DAO (LDO) token. According to TradingView, LDO went up by 16.25% over the past week and 53.78% over the past six months.

LDO token rallied over 8% to $1.29 as VanEck’s Lido staked Ethereum Delaware trust filing fueled investor optimism.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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TLDR

JPMorgan predicts Bitcoin could rise to $165,000, highlighting its current undervaluation compared to gold.
The bank notes that Bitcoin’s volatility relative to gold has dropped below 2.0, making it more attractive to investors.
Bitcoin’s market capitalization is expected to grow by $1 trillion, reaching a valuation of $3.3 trillion.
Bitcoin now consumes only 1.85 times more risk capital than gold, signaling a more favorable investment profile.
U.S. spot Bitcoin ETFs saw $675.8 million in daily inflows, demonstrating growing institutional interest in Bitcoin.

JPMorgan analysts predict that Bitcoin price is undervalued compared to gold and could rise to $165,000. The bank notes that Bitcoin’s volatility relative to gold has dropped below 2.0. This reduction in volatility makes Bitcoin increasingly attractive to investors seeking stability.

JPMorgan’s analysis suggests that Bitcoin’s current market capitalization of $2.3 trillion could grow by $1 trillion. With this growth, Bitcoin’s valuation could reach $3.3 trillion, aligning its price with $165,000. The analysis suggests that Bitcoin’s fair value should be significantly higher, particularly as gold prices rise.

The bank also observed that Bitcoin’s price remains about 34.5% below its projected fair value of $160,000. This discrepancy underscores the potential for significant growth in Bitcoin’s market price. JPMorgan’s analysis aligns Bitcoin’s value with the $6 trillion invested in gold, indicating a fair value target.

Bitcoin’s Risk Capital Comparisons to Gold
JPMorgan’s report emphasizes Bitcoin’s lower risk capital consumption compared to gold. Analysts reveal that Bitcoin now consumes only 1.85 times as much risk capital as gold. This shift suggests that Bitcoin’s financial profile is more attractive to investors.

https://x.com/matthew_sigel/status/1973710595267457515?s=46

Bitcoin’s risk-adjusted value has become more comparable to that of gold, even as the Bitcoin market continues to evolve. JPMorgan suggests that Bitcoin could see a market capitalization of $3.3 trillion based on this comparison. This change reflects growing investor confidence in Bitcoin, particularly due to its decreasing volatility.

The current strength of Bitcoin ETFs further supports Bitcoin’s potential growth. The report highlights the $675.8 million in daily inflows into U.S. spot Bitcoin ETFs. This influx of capital brings Bitcoin closer to achieving its projected market cap of $3.3 trillion.

JPMorgan’s Bullish Sentiment on Bitcoin’s Future
JPMorgan analysts remain bullish about Bitcoin’s future, projecting that it could reach $165,000 in the coming months. The bank draws attention to the increasing institutional interest in Bitcoin, including large inflows into Bitcoin-backed ETFs. The trend suggests that Bitcoin’s financial footprint is comparable to that of gold-backed funds.

Analysts also note that the valuation gap between Bitcoin and its fair value has reached historic lows. JPMorgan points out that this presents a significant upside for Bitcoin, as it moves closer to aligning with gold’s market value. Major financial institutions such as Citigroup share similar bullish predictions, with Bitcoin potentially reaching $231,000 in 12 months.

After nearly a year of silence, First Lady Melania Trump resurfaced to promote her Solana-based meme coin, MELANIA, through an AI-generated video on X. Captioned “Into the Future,” the post marked her first activity since June and quickly reignited trading interest. The surprise appearance sent the token’s price from $0.16 to $0.19 before stabilizing at $0.18, according to CoinGecko. Despite this spike, the coin remains down over 98% from its January all-time high of $13.73.

The timing of the promotion has drawn renewed attention to the controversy surrounding the project. Analysts have repeatedly criticized the MELANIA team for a lack of transparency in handling community funds. Data tracked by Bubblemaps revealed that in April the team moved and sold more than $30 million in tokens, including $10 million from community pools. In another instance that same month, the team reportedly liquidated $1.5 million worth of tokens over three days, using a staggered selling approach to avoid triggering a dramatic crash. Many saw this as a calculated move to maximize profit while maintaining market pressure.

This controversy adds to broader scrutiny surrounding politically-linked meme coins. The MELANIA token was originally launched on the eve of Donald Trump’s presidential inauguration and has since struggled to recover from its collapse. Meanwhile, the TRUMP token experienced more successful trading cycles, often surging in response to major policy announcements. However, it too has faced backlash. In May, President Trump invited the top 220 TRUMP token holders to a private dinner at his Virginia golf club. Critics accused him of using political office to boost token value, sparking ethical debates over personal financial gain tied to public influence.

While Melania’s new AI promotion briefly revived interest, analysts argue the project’s credibility remains damaged. Without addressing concerns over multimillion-dollar token sales, the future of the MELANIA meme coin appears uncertain, leaving investors wary despite the recent publicity push.

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