Market Signal Briefing

NEW YORK, Sept. 28, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Synopsys, Inc. (NASDAQ: SNPS) resulting from allegations that Synopsys may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Synopsys securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=44981 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On September 9, 2025, after market hours, Synopsys issued a press release entitled “Synopsys Posts Financial Results for Third Quarter Fiscal Year 2025.” In this announcement, Synopsys’ CEO was quoted as saying that “[w]hile I’m proud of how our team navigated external challenges in the quarter, our IP business underperformed expectations. We are taking action to enhance our competitive advantage and drive resilient, long-term growth.” The next day, Zacks Equity Research published an article entitled “Synopsys Q3 Earnings and Revenues Miss Estimates, Stock Plunges 22%.” The article stated that Synopsys shares had “plunged” after it “reported results for the third quarter of fiscal 2025, missing both top and bottom-line consensus estimates.”

On this news, the price of Synopsys stock fell $216.59 per share, or 35.8%, to close at $387.78 on September 10, 2025.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of sellers of ordinary shares, including those that sold into the Merger of Sina Corporation (NASDAQ: SINA) between October 13, 2020 and March 22, 2021, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2025.

So What: If you sold Sina ordinary shares, including those that sold into the Merger, during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Sina class action, go to https://rosenlegal.com/submit-form/?case_id=45219mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the Case: According to the lawsuit, defendants' created a fraudulent scheme to depress the value of Sina ordinary shares to avoid paying a fair price to Sina's shareholders in connection with the Merger. Defendants executed this scheme by misrepresenting and/or omitting material information within and from Sina's proxy materials in connection with the Merger that were necessary for shareholders to make an informed decision concerning whether to vote in favor of the Merger. Specifically, defendants failed to disclose that: (1) defendants concealed the true value of Sina's investment in TuSimple at the time of the Merger; (2) in turn, the offer of $43.30 per ordinary share as consideration for the Merger substantially shortchanged the true value of Sina ordinary shares; and (3) as a result, defendants' statements about Sina's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Sina class action, go to https://rosenlegal.com/submit-form/?case_id=45219 mailto:call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

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September 28, 2025 4:51 PM EDT | Source: PTX Metals Inc.
Toronto, Ontario--(Newsfile Corp. - September 28, 2025) - PTX Metals Inc. (TSXV: PTX) ("PTX" or the "Company") is pleased to announce the following updates to its previously disclosed non-brokered private placements, as referenced in its news releases dated September 8, 2025 and September 16, 2025. In response to market demand, the Company has increased the maximum size of the offering (the "LIFE Offering") being completed under LIFE Exemption (as defined below) from $3,500,000 to $5,500,000 while keeping a minimum offering of $2,000,000 of HD Units (as defined below). There remains no minimum on the size of the offering of "charity flow-through units" ("CFT Units").

LIFE Offering

Pursuant to the amended terms of the LIFE Offering, the Company is offering for sale by way of non-brokered private placement: (i) hard dollar units (the "HD Units") at a price of $0.10 per HD Unit; and (ii) CFT Units at a price of $0.15 per CFT Unit (the CFT Units together with the HD Units are referred to herein as, the "Units"), to raise aggregate gross proceeds of up to $5,500,000. Each Unit shall consist of one (1) common share and one-half of one (1/2) share purchase warrant (each whole such share purchase warrant, a "Warrant"). Each Warrant is exercisable to acquire one (1) additional Warrant Share at a price of $0.16 per Warrant Share for a period of 36 months from the date of issuance. The Warrants issued pursuant to the LIFE Offering will be subject to a restriction on exercise expiring 61 days following the date of issuance.

The Company intends to use the proceeds from the issuance of the HD Units for general corporate expenses and working capital purposes.

The gross proceeds from the issuance of the CFT Units will be used to incur eligible "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the "Tax Act") that qualify as "flow-through critical mineral mining expenditures" as defined in subsection 127(9) of the Tax Act (the "Qualifying Expenditures") related to the Company's projects in Ontario. The Qualifying Expenditures will be incurred on or before December 31, 2026 and will be renounced by the Company to the initial purchasers of the CFT Units with an effective date no later than December 31, 2025 in an aggregate amount not less than the gross proceeds raised from the issue of the CFT Units.

The Units issued under the LIFE Offering are being offered to purchasers pursuant to the Listed Issuer Financing Exemption (the "LIFE Exemption") under Part 5A of National Instrument 45-106 - Prospectus Exemptions, and as modified by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in each of the provinces of Canada. Pursuant to the LIFE Exemption, the Units to be issued pursuant to the LIFE Offering will not be subject to a hold period under Canadian securities laws.

The Company has filed on its SEDAR+ profile contemporaneously herewith an amended and restated offering document addressing the upsized LIFE Offering available for purchase in accordance with the requirements of Form 45-106F19 (the "Offering Document"). The amended and restated Offering Document can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.ptxmetals.com. Prospective investors should read the amended and restated Offering Document before making an investment decision.

Non-LIFE Offering

In addition, the previously disclosed concurrent non-brokered offering (the "Non-LIFE Offering") has also been amended. The amendments remove the charity flow-through component of this offering and increase the maximum size of the offering of flow-through units ("FT Units") from $1,000,000 to $1,500,000. The FT Units will be issued at a price of $0.135 per FT Unit with each FT Unit being comprised of one common share and one-half of one (1/2) Warrant. The securities sold under the Non-LIFE Offering will be sold under prospectus exemptions other than the LIFE Exemption and the securities underlying the FT Units sold under the Non-LIFE Offering will be subject to a hold period of four months and one day from the date of issuance.

The closing of the LIFE Offering and Non-LIFE Offering (the "Closing") may occur in multiple tranches, with the final Closing expected to occur starting on September 29, 2025. The offerings are subject to certain conditions, including applicable regulatory approvals and acceptance by the TSX Venture Exchange ("TSXV").

Additional Information

Insiders of the Company may participate in the offerings. The issuance of securities to insiders will be considered "related party transactions" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemption set forth in section 5.5(a) of MI 61-101 from the formal valuation requirements of MI 61-101 and the exemption set forth in section 5.7(1)(a) of MI 61-101 from minority shareholder approval requirements of MI 61-101 in respect of such insider participation as the fair market value of the offerings, insofar as they involve interested parties, is not expected exceed 25% of the Company's market capitalization.

In connection with the offerings (as permitted by the policies of the TSXV), eligible finders will be paid a cash amount equal to 7% of the gross amount raised by finders. In addition, a number of finder warrants equal to 7% of the number of Units and FT Units issued pursuant to the offerings (the "Finders Warrants") will be issued to eligible finders. Each Finders Warrant will entitle the holder thereof to purchase one common share at a price of $0.14 (subject to adjustment) for a period of two (2) years following the issuance of the Finders Warrants. The Finders Warrants will be subject to a statutory hold period in Canada of four (4) months and one (1) day after the issuance of the Finders Warrants.

About PTX Metals Inc.

PTX is a mineral exploration company focused on high-quality strategic metals assets in northern Ontario, allowing exposure for shareholders to Copper, Gold, Nickel, and PGEs discovery. The Province of Ontario is renowned as a first-class mining jurisdiction for its abundance of mineral resources and safe jurisdiction.

Our corporate objective is to advance our assets, and unveil the potential of two Flagship Projects, the W2 Cu-Ni-PGE located in the strategic Ring of Fire region, and the Shining Tree Gold Project neighbor to multi-million ounces gold deposits in the Timmins Gold Camp.

PTX's portfolio of assets was strategically acquired for their geologically favorable attributes, and proximity to established mining companies.

PTX is based in Toronto, Canada. The Company is also listed in Frankfurt under the symbol "9PF" and on the OTCQB in the United States as "PANXF".

For additional information on PTX, please visit the Company's website at www.ptxmetals.com.

Cautionary Statement Regarding Forward-Looking Information

This news release includes forward-looking information and statements. Such statements include statements relating to the ability to complete the offerings, the timing of Closing, the extent of insider participation, and the use of proceeds of the offerings. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. The assumptions on which the forward-looking statements contained herein rely include, among others, that the Company will receive the necessary approvals for the offerings from the TSXV, that the Company will satisfy the terms of the LIFE Exemption and any other applicable securities exemptions or safe harbors and that there will be sufficient demand for the securities. Additional risk factors that may impact the Company or cause actual results and performance to differ from the forward looking statements contained herein are set forth in the Company's most recent management's discussion and analysis of financial condition (a copy of which can be obtained under the Company's profile on SEDAR + at www.sedarplus.ca). Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

NEITHER THE TSXV, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN TSXV POLICY 1.1 - INTERPRETATION) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268290

(Photo by Beata Zawrzel/NurPhoto via Getty Images)

NurPhoto via Getty Images

Tucked amid the outcry over Jimmy Kimmel’s suspension, FCC threats against broadcast licensees, and all the rest, a modest analyst proposal surfaced that would short circuit the possibility of a future repeat of the mess.

What if Disney stopped broadcasting, asked Needham Securities analysts Laura Martin and Dan Medina in a Sept. 23 research note? Don’t dismantle the network, just put all the news, sports, entertainment and more on Disney streaming service Hulu, where all of its FX shows run, and on the ABC app.

That way, the next time FCC Chairman Brendan Carr threatens licenses over his upset about a comedian’s bad joke, or station groups decide to pre-empt programming, Disney could continue reaching its audiences and advertisers. The key: don’t sell the broadcast licenses when you stop broadcasting, because that puts the FCC back in position to commit political mischief, because it must approve license transfers.

“We calculate that shutting down (not selling) ABC would force (Disney) to write off about $1.7 (billion) to $2.7 (billion) of free spectrum value, plus about $1.4 (billion) of lost (free cash flow) per year, which is worth about $8.3 (billion) of value based on current TV trading comps,” Martin wrote.

That sounds like a fair amount of money, but Martin and Medina suggest, “Value destruction would be (as) low as a percent of (Disney’s $204 billion) market (capitalization), and (one-time) only, which Wall Street would add back."

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And ABC, despite its top-rated evening news and hits such as Abbott Elementary, isn’t driving a lot of viewership overall. Nielsen estimates the network is averaging only 2.4 million viewers in prime time across broadcast and cable. Martin and Medina estimated the network and its owned & operated local stations generate only about $4 billion in revenues, down 11% from 2024.

Dumping the fading broadcast platform for streaming and online delivery would allow Disney investors to better value the company’s faster-growing sectors, expanding valuation multiples by 40 to 60 basis points per year for the next decade, Martin and Medina wrote. That would add 10% more value for Disney shareholders.

The real issue driving Needham’s proposal: studios can’t afford to screw around with political headaches and grandstanding at a moment when the entire business is being radically transformed by generative artificial intelligence.

"GenAI collapses time frames, thereby making the delays, distractions and headaches of regulation more expensive, so jettisoning regulatory risks is increasingly valuable,” the Needham analysts wrote.

As with just about any way-out-of-the-(TV)-box idea, there are some big caveats.

Though broadcast ratings continue to decline, they remain the best way to reach a large, broadly based audience. That’s particularly important to the major sports leagues who provide some of TV’s most valuable programming. They depend on broadcast to reach casual fans, relying on subscription services to extract more income from hard-core followers.

The NBA’s rich new contracts signed last summer were decided in part by the fact that Disney had ABC and ESPN and its streaming operations. Comcast’s NBCUniversal bid was also considered superior because of its broadcast component, compared to long-time league partner Warner Bros. Discovery, which only has a cable network and streaming. Amazon, the third winning bid, is, well, Amazon.

Similarly, CNBC reported last week that the NFL wants to advance its “look-in” provisions by a year for $111 billion in TV contracts. After more recent big rights renewals for the NBA, college football, and other leagues, the creators of television’s most-watched programming are concerned they may have left money on the table when they signed those original NFL deals.

Will having a broadcast operation still be required of any traditional media partner going forward as the league tries to anticipate what will matter in the media ecosystem of the early 2030s?

Another potential complication for such a bold move: Carr and influential FCC staffers have rumbled about expanding the commission’s regulatory power far beyond broadcast, where government regulation is said to be necessary because it relies on divvying up scarce publicly owned broadcast spectrum.

But getting into areas such as regulating online cable-like operators such as YouTube TV, or more broadly tweaking the Communication Act’s Section 230 safe-harbor provisions protecting online services are a different thing altogether.

Those kinds of regulatory extensions would require a deeply divided Congress to get on board. That could be difficult, especially given that even some conservatives said they were deeply dismayed by Carr’s comments around the Kimmel controversy.

Beyond all these issues, there is one of history and sentiment. ABC and Disney have been connected since the 1950s, when Leonard Goldenson needed programming for his new American Broadcasting Corporation. But the movie studios largely wouldn’t countenance letting even their old movies run on television, with one exception.

Walt Disney’s family-owned studio had lots of animated features and shorts and nature documentaries sitting largely unused in its library. And Walt needed money to finance his ambitious plans for a Disney theme park in Anaheim.

Out of that shared set of interests came The Wonderful World of Disney (among many other names), which would anchor Sunday prime-time schedules for ABC and then other networks for decades.

Fast forward to the 1990s. Walt is gone, Michael Eisner is CEO, charged with transforming the studio into a bigger media company. Among his deals: the $19 billion acquisition in 1996 of Capital Cities/ABC, whose senior TV executives included an ambitious former weatherman named Robert Iger.

Iger spent 22 years with ABC before the Disney deal, and now has run Disney as CEO for close to that long across two stints. Iger’s been a fierce guardian of the Disney brand, but he’s not known as a sentimentalist. Given his ABC roots, though, would Iger ever countenance a dramatic move like Martin and Medina suggest?

Probably not. But there is another consideration. The Disney board is expected to name Iger’s successor over the next few months, and the clubhouse favorite has long been co-head of entertainment Dana Walden.

Walden, a frequent walking partner with Iger, is also a long-time friend of former Vice President Kamala Harris, whose mere name seems to enrage Trump. Would a move out of Brandon Carr-regulated broadcasting take away one of the ways the administration might monkey with a preferred successor, or any major moves she might undertake at CEO?

Again, probably not. But the bigger question, as Martin and Medina lay it out, is how well Hollywood’s battered media companies can navigate a fast-changing ecosystem where YouTube attracts more streaming eyeballs than anyone, AI is dramatically reducing the cost of production and marketing, politically motivated regulators are seeking even more power, and dirt-cheap micro dramas out of China are grabbing more and more attention. Bold moves may be just what’s needed.

September 28, 2025 5:47 PM EDT | Source: Silo Wellness Inc.
Eugene, Oregon and Toronto, Ontario--(Newsfile Corp. - September 28, 2025) - Silo Wellness Inc. (CSE: SILO) ("Silo" or the "Company"), to be renamed Born Defense Inc., is pleased to announce that it has submitted its listing statement (the "Listing Statement") with the Canadian Securities Exchange (the "CSE") on September 26, 2025, for review in connection with its previously announced proposed change of business to an investment issuer focused on the defense and national security sectors.

The Listing Statement provides comprehensive disclosure regarding the Company's business, assets, financial statements, management team, and strategic direction, and is a key step toward satisfying the CSE's requirements for the resumption of trading of the Company's common shares.

As previously disclosed, the Company intends to complete a name change to Born Defense Inc. and transition its primary business focus to defense innovation and national-security investments. Born's strategy is grounded in Just War principles and the protection of individual liberty, a framework discussed at length in the Compony's podcast interview with Dr. Eric Patterson, a leading scholar of the Just War tradition ("Just War Doctrine with Dr. Eric Patterson," https://youtu.be/pBkZG9mZDMk). In that conversation, Dr. Patterson emphasized the classical criteria (legitimate authority, right intention, last resort, probability of success, proportionality, and discrimination) and how those ethics constrain power, guide deterrence, and inform responsible industrial stewardship. The submission of the Listing Statement is an important milestone in advancing this vision.

The Listing Statement also outlines recent measures undertaken by the Company to strengthen its financial position, including agreements to settle approximately CAD $4.4 million of debt through the issuance of common shares, significantly reducing liabilities and positioning the Company for its strategic transition. Upon CSE approval, this restructuring is expected to improve the balance sheet and align shareholder interests as the Company advances its change of business.

"While this must go through the full regulatory process, I'm proud of how hard our team has worked to stabilize and strengthen the public vehicle by earning buy-in from creditors who have either agreed to convert their debt into shares or to middle- and long-term payment plans so initial financing can stretch further. I'm looking forward to feedback from the CSE on our business plan and intentions. Until then, we'll prepare for the future with a steadfast goal of peace through strength. Now is the time to preserve civilization through strategic investment in the people trusted to responsibly steward these powerful defense technologies for the next generations." — Richard Craven, CEO, Born Defense

The Listing Statement will be made available on the Company's profile on SEDAR+ once it has been accepted for filing by the CSE. Shareholders will also be provided with notice of any meeting required to approve the proposed change of business and related matters, in accordance with applicable securities laws and stock exchange requirements.

There can be no assurance as to the timing of completion of the CSE's review process, the Company's shareholder approval, or the resumption of trading of the Company's securities.

About Born Defense

Silo Wellness (CSE: SILO) is a public company currently transitioning its operations into Born Defense Inc., a national security investment issuer committed to ethical defense finance guided by the Just War Doctrine. The company's restructured business model centers on trade finance, strategic equity investments, and collateral-backed lending for pre-IPO and critical infrastructure ventures globally.

Follow and amplify:

LinkedIn: www.linkedin.com/company/borndefense X/Twitter: www.x.com/borndefense Instagram: www.instagram.com/borndefense YouTube: www.youtube.com/@borndefenseTelegram Investor Updates: https://t.me/BornDefense Telegram Discussion Group: https://t.me/+q4c0eGS3gD8wNzIx Forward-Looking Statements

This press release contains forward-looking statements under applicable securities laws. These statements relate to future events, financial performance, and operational expectations, including the objectives, prospective transaction, market conditions, and strategic plans.

Forward-looking statements involve risks, uncertainties, and assumptions that may cause actual results to differ materially, including market conditions, regulatory changes, geopolitical factors, capital availability, and the timing and outcome of the CSE's review of the Listing Statement. We undertake no obligation to update these statements except as required by law. Readers should not place undue reliance on forward-looking statements, which speak only as of their date.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities. Any such offering will be made only in compliance with applicable laws and through authorized offering documents.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268286

Axon has been a big winner on the market, but its high valuation may give some investors pause.

You might not know it, but Axon Enterprise (AXON -0.30%) is one of the best-performing stocks of the last decade. The maker of TASER electrical stun guns, body cameras, and related software is up more than 3,000% during that period.

The company has built a vast network of products and services across law enforcement technology, establishing itself, with the help of some acquisitions, as the clear leader in that niche but growing industry.

The surge in Axon's price during that period hasn't come exclusively from growth in the business. As the chart below shows, the stock's earnings per share has grown by about 1,000% over the last decade, meaning its valuation has tripled.

Data by YCharts.

As its earnings multiple has expanded, the stock has gotten expensive. These days, the stock trades at a price-to-earnings ratio of 110. Is the stock overvalued, or is its valuation justified? Let's take a closer look at where Axon stands today to answer the question.

Image source: Axon.

A one-of-a-kind business
Axon's mission is to protect life and make the bullet obsolete. Over its history, that's expanded from its TASER less-than-lethal weapons to body cameras for recording police interactions and software that helps law enforcement agencies manage records, evidence, and other data.

Like Apple, Axon has created a hardware and software ecosystem with the two components complementing each other. Its body and dashboard cameras, for instance, generate footage that's stored with its cloud service. The company has even introduced a new generative AI offering, Draft One, that can create first drafts of police reports based on bodycam footage.

The company's ecosystem has driven strong growth over its history, solid profits, and an increasingly wide economic moat.

In its second quarter, revenue rose 33% to $669 million, its sixth consecutive quarter with growth above 30%. Gains were balanced across both the software and services and connected devices segments. It reported adjusted net income of $174 million. On a generally accepted accounting principles (GAAP) basis, net income was $36 million.

The company continues to update its core product portfolio with the TASER 10 and Axon Body 4 representing the latest versions of its hardware. It has also introduced new products and services, such as VR training and drone-as-first-responder systems. Most recently, management announced the acquisition of Prepared, an AI-powered emergency communications platform. Prepared's technology helps turn 911 calls into actionable intelligence, enabling a faster response from emergency responders.

Prepared is the type of company that fits well under the Axon umbrella as the company can fold it into the larger product portfolio to make its platform more attractive to law enforcement agencies.

Does the valuation make sense?
Axon reported a GAAP operating loss of $9.8 million through the first half of 2025 as the company undergoes an investment cycle in new technologies like AI, but software companies tend to earn a lofty earnings multiple if they can demonstrate growth and an adjusted profit.

One major line item the company excludes from its adjusted profit metrics is share-based compensation, which totaled $279 million year to date, or roughly 22% of revenue. Axon's outstanding share count has increased nearly 25% in just the past five years, though that hasn't been enough of a problem to deter its soaring share price.

With a triple-digit price-to-earnings ratio, investors should recognize the reduced margin of safety from such a valuation. But while Axon stock may be pricey, even after falling 20% from its all-time high, it remains fairly valued given its unique business model and strong track record.

Jeremy Bowman has positions in Axon Enterprise. The Motley Fool has positions in and recommends Apple and Axon Enterprise. The Motley Fool has a disclosure policy.

NEW YORK, Sept. 28, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of SelectQuote, Inc. (NYSE: SLQT) between September 9, 2020 and May 1, 2025, both dates inclusive (the “Class Period”), of the important October 10, 2025 lead plaintiff deadline.

SO WHAT: If you purchased SelectQuote securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the SelectQuote class action, go to https://rosenlegal.com/submit-form/?case_id=39510 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 10, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) SelectQuote was directing Medicare beneficiaries to the plans offered by insurers that best compensated SelectQuote, regardless of the quality or suitability of the insurers’ plans; (2) SelectQuote did not provided unbiased comparison shopping for Medicare Advantage insurance plans; (3) SelectQuote received illegal kickbacks to steer Medicare beneficiaries to certain insurers and limit enrollment in competitors’ plans; (4) as a result, SelectQuote had not complied with applicable laws, regulations, and contractual provisions; (5) SelectQuote was vulnerable to regulatory and legal sanctions as a result of its conduct, including claims that it had violated the False Claims Act; and (6) as a result of the foregoing, defendants’ positive statements about SelectQuote’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the SelectQuote class action, go to https://rosenlegal.com/submit-form/?case_id=39510 call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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Fresh Europe data on August Tesla registrations wasn't pretty.

Tesla (TSLA 3.94%) shares fell more than 4% last Thursday as investors digested disappointing Tesla vehicle registration data in Europe ahead of the company's third-quarter deliveries update expected in early October. The electric vehicle maker sells premium battery-electric cars and energy storage products globally, with meaningful exposure to the European market.

The market's question now is simple: Does the regional weakness point to a poor quarter, or is it mostly noise inside a broader and still-uncertain recovery?

Image source: Getty Images.

The latest Europe read was weak
News out Thursday showed Tesla's European Union registrations fell about 37% year over year in August to roughly 8,200 vehicles, marking a second straight month in which the China-based BYD outsold Tesla in the bloc. Including the broader European region (the U.K., Norway, and other EFTA countries), Tesla still led in absolute units for August, but registrations were down about 22% year over year, underscoring persistent pressure in the region.

This softness in Europe follows a tough second quarter for the electric car maker. In Q2, Tesla delivered just over 384,000 vehicles -- down 13% from about 444,000 in the year-ago period.

It is also worth recalling the company's tone on the latest earnings call. CEO Elon Musk acknowledged that the near term may not be smooth, noting that things could get "rough" before they get better over the next few quarters. While that comment doesn't guarantee weak third-quarter deliveries, it frames Tesla's headlines about European deliveries within management's own caution about the path back to growth.

Setting expectations for Q3
With only days left in the period when the August Europe data hit the tape, the right way to think about Q3 is probably through a conservative range, not a single-point guess. Start with what we know: Tesla delivered about 384,000 vehicles in the second quarter, it delivered roughly 463,000 in last year's third quarter, and outside Europe there are mixed but not universally negative signals. Some trackers have flagged improving weekly registrations in parts of Europe late in September, and several outlooks have pointed to steadier demand in China and the U.S., even as Europe stays choppy. Still, Europe's August decline argues for caution.

A reasonable, conservative estimate for Q3 deliveries is 430,000 to 455,000. The low end assumes Europe remains a drag through quarter-end and that China/U.S. improvement only partly offsets it. The high end assumes late-September sequential gains in key markets and typical quarter-end logistics help. That range sits close to widely cited expectations near the mid-440,000s and acknowledges both the seasonal lift from Q2 and the regional weakness that surfaced this week. For reference, landing near 445,000 would be down modestly year over year versus the roughly 463,000 delivered in last year's third quarter.

Of course, in the end, no one knows where deliveries will come from. Further, note that this is a conservative estimate. There's always a chance that deliveries could come in above this range (or even below).

Meanwhile, the stock's valuation doesn't help the bull case. At a market value well above $1 trillion and with a price-to-earnings ratio of 252 as of this writing, the stock embeds high expectations well beyond one quarter's deliveries. Such a high valuation leaves less cushion if third-quarter deliveries disappoint, or if commentary points to rough demand trends going into year-end.

Of course, there are some significant positives for investors to consider, too. Energy storage deployments remain a bright spot. Furthermore, a recent Model Y refresh, advancements in self-driving technology, and a planned upcoming vehicle launch could all contribute to increased demand in the second half of the year. But given this fresh data on Tesla registrations in the E.U., it's fair to say that risk sits a bit higher heading into next week's update.

The bigger story, anyway, will be a forward-looking one. Investors should look for any insight management provides on how quickly it thinks deliveries can reaccelerate. Because sales are going to need to pick up sharply at some point in order for Tesla's fundamentals to live up to its stock price.

Daniel Sparks and/or his clients have positions in Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends BYD Company. The Motley Fool has a disclosure policy.

Nvidia will play a key role in the data centers that are powering OpenAI's models.

Nvidia (NVDA 0.27%) hit an all-time high on Sept. 22 in response to a $100 billion strategic partnership with OpenAI. Nvidia is helping OpenAI achieve its goal of building at least 10 gigawatts (GW) of data centers purpose-built for artificial intelligence (AI) by investing in data centers progressively as each GW is deployed.

The news is significant, considering OpenAI needs funding to fulfill its promise, and because it is currently structured as a nonprofit (although it plans to become a Public Benefit Corporation).

Nvidia is the most valuable company in the world and the largest of the "Ten Titans" -- which is the "Magnificent Seven" plus Broadcom (NASDAQ: AVGO), Oracle, and Netflix. The Ten Titans are highly influential -- making up nearly 40% of the S&P 500.

Here's why Nvidia continues to be a powerhouse in the age of AI, where it stands amid competition from Broadcom, and whether it's worth buying now.

Image source: Getty Images.

Nvidia's deal with OpenAI
As I've mentioned in the past, Nvidia is a steelmaker at the dawn of the age of skyscrapers. Nvidia makes the most advanced graphics processing units (GPUs) -- as well as associated networking components and software. These systems play an integral role in the parallel processing of AI workloads that require massive amounts of computing power. As OpenAI co-founder and CEO Sam Altman said in the Sept. 22 press release:

Everything starts with compute. Compute infrastructure will be the basis for the economy of the future, and we will utilize what we're building with Nvidia to both create new AI breakthroughs and empower people and businesses with them at scale.

Nvidia's investment in OpenAI builds on its $5 billion purchase of Intel stock, announced on Sept. 18. Intel will design and manufacture customer data center and central processing units (CPUs) with Nvidia's NVLink technology, which increases communication speed between GPUs and CPUs.

Nvidia continues to push the bounds of AI computing power, and its results have been astounding, as its data center segment now makes up 88% of total revenue. Nvidia is growing earnings at a rapid pace with no signs of slowing down. But it isn't the only company that's driving the future of data center compute.

Broadcom's custom AI chips are the real deal
Broadcom's custom AI chips (XPUs) are application-specific integrated circuits (ASICs). Unlike GPUs, which are all-purpose workhorses in the data center, Broadcom works with hyperscalers to build custom AI chips to suit their AI workflows.

The strategy is paying off, as Broadcom stock has outperformed Nvidia year-to-date -- hitting an all-time high and knocking on the door of a $2 trillion market cap.

Like Nvidia, which depends on a handful of customers, Broadcom's AI revenue is largely tied to the ramp-up in hyperscaler capital expenditures. Broadcom's AI revenue is expected to reach nearly $20 billion by the end of this fiscal year, compared to $3.8 billion two years ago. So although Broadcom is still magnitudes smaller than Nvidia in terms of AI revenue, it is challenging Nvidia's dominance.

Broadcom's AI chips, paired with its Jericho routers, Tomahawk switches, and other associated infrastructure, enable the connection of over 1 million XPU clusters across multiple data centers. At scale, Broadcom's custom chip economics improve dramatically because they are more energy efficient than general-purpose GPUs.

Nvidia and Broadcom can win together
Broadcom will likely play an increasingly important role in the data center, but it won't replace Nvidia. Rather, both companies will likely work together, with Broadcom specializing in task-specific functions and Nvidia leading in versatile compute for AI training, inference, and high-performance computing.

The latest flurry of announcements showcases how both companies are positioned to thrive. In its latest earnings report from early September, Broadcom announced a $10 billion custom AI chip customer -- which is likely OpenAI. But OpenAI is also closely collaborating with Nvidia, serving as the key driver of its path to 10 GW in datacenter capacity.

A hyperscaler like OpenAI may partner with Broadcom on custom AI chips for specific tasks, but these chips take a while to develop and are best for inference (handling the needs of existing AI models with fixed patterns). Whereas Nvidia's GPUs -- paired with its CUDA software system -- are a solution that works right now and is more flexible for variable and complex scenarios, like training models with new parameters.

OpenAI is also likely reducing its dependence on one chip supplier, similar to how it has expanded its cloud partnership beyond Microsoft to include Oracle in a blockbuster $300 billion deal. Spreading business across multiple vendors reduces OpenAI's supply chain risk.

Nvidia remains a top growth stock to buy now
Nvidia remains the gold standard in the data center. It can thrive alongside Broadcom, so investors shouldn't view the two companies purely as competitors, but rather, as examples of the evolving anatomy of the modern AI data center.

At 39.7 times forward earnings, Nvidia is far from cheap, but it also isn't as expensive as it used to be. Especially given that it is still growing earnings at a rapid rate.

In fact, on a forward-earnings basis, Nvidia is cheaper than other Ten Titans stocks like Tesla, Broadcom, Netflix, and Oracle. And it's a much better buy for growth investors than a stock like Apple, which trades at 34.5 times forward earnings but is growing earnings far more slowly than Nvidia.

All told, Nvidia remains a foundational AI growth stock to buy now. Although investors may want to consider incorporating both Nvidia and Broadcom into their long-term AI portfolios.

Daniel Foelber has positions in Nvidia. The Motley Fool has positions in and recommends Apple, Intel, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft, short January 2026 $405 calls on Microsoft, and short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.

Alphabet could become the largest company in the world in the next five years.

Alphabet (GOOG 0.21%) (GOOGL 0.28%) has become one of the world's most important artificial intelligence (AI) companies. What investors initially saw as a big potential risk has instead turned into a big tailwind.

And while Nvidia and Palantir Technologies get plenty of the hype these days, Alphabet has the opportunity to be worth more than both of them combined before the decade is out.

Nvidia currently sits at a $4.3 trillion market cap, while Palantir is around $425 billion. Alphabet is valued at roughly $3 trillion, but it has a real chance to grow significantly from here, while the other two face some risks.

Alphabet's opportunities
Alphabet's opportunities start with search and AI, which in some cases are melding into one. The company already owns the front door to the internet for billions of people, and most users don't even think about it because Google is just the default engine on most devices.

Its ownership of the Chrome web browser and Android operating system, together with its revenue-sharing agreement with Apple, gives it a huge distribution advantage.

AI, meanwhile, is not replacing search; it's enhancing it and complementing it. Alphabet says its AI Overviews are now being used by more than 2 billion people a month, and its new AI Mode, which is now just being rolled out globally, allows users to toggle between traditional results and chatbot-style answers without switching apps.

It has also added multimodal AI features like Lens and Circle to search. These are just leading to more queries, often with a commercial intent from shoppers, which feeds into its massive ad network.

This kind of seamless integration means the company doesn't need to rewire consumer habits the way competitors do; it only needs to make the products that people already use more useful. The fact that its Gemini app passed ChatGPT as the most downloaded app in the Apple App Store shows that the company is gaining real traction in AI on the consumer side.

Image source: Getty Images

Then there is Alphabet's biggest growth driver, its cloud computing business. The company is seeing both strong revenue growth and huge operating leverage as it scales up. This was seen last quarter when Google Cloud revenue jumped 32% and operating profit more than doubled.

What sets Alphabet apart in cloud computing is that it owns the full stack, from its world-class Gemini AI model to custom AI chips, to top-notch analytics and software, to one of the largest private fiber networks in the world. That vertical integration means better performance at lower costs. The company's pending acquisition of Wiz will also give it a huge opportunity to cross-sell leading cloud cybersecurity to its customers.

Investors should also remember Waymo, which could become one of its biggest growth drivers in the next five years. Robotaxis have been hyped for years, and with Waymo, Alphabet is currently building out a large fleet across the U.S.

It has a first-mover advantage with commercial services running in several major U.S. cities, while being tested in others. If autonomous driving takes off in the next five years, Waymo could become another huge business.

Meanwhile, Alphabet's stock is one of the cheapest among megacaps, at a forward price-to-earnings ratio (P/E) of less than 23 times 2026 analyst estimates. Between its growth opportunities and the potential for multiple expansion, the shares could have a lot of upside in the next five years.

Palantir and Nvidia face risks
Now contrast that with Palantir. It has been executing well, with its Artificial Intelligence Platform (AIP) in high demand from U.S. commercial customers, while it is continuing to win big government contracts.

However, the stock's valuation is at nosebleed levels. With a forward price-to-sales multiple (P/S) of more than 100, the stock would still be expensive even if it that figure were cut in half. This is a valuation that leaves no margin for error; one slipup on growth, and the stock will get punished.

And then there is Nvidia. Undoubtedly, it has been the biggest winner in the AI boom, but investors should not forget it is still a hardware company. Hardware sales are not recurring revenue, since every chip sold has to be replaced by the next cycle of spending, and once customers find a cheaper or more efficient solution, the shift can happen fast.

We've seen this happen before. The company's graphics processing units (GPUs) were once the primary chips used in Bitcoin mining until ASICs (application-specific integrated circuits) that did the job faster and cheaper came along. Practically overnight, mining Bitcoin with GPUs became irrelevant.

While ASICs aren't likely to completely replace GPUs for AI workloads, they are a rising threat, especially as the market moves more toward inference, which is a continuous cost -- and hyperscalers (companies that own large data centers) are highly motivated to lower computing costs. With inference not nearly as technically demanding as training, Nvidia's CUDA software moat is not as wide in this area, and more and more large companies have started developing their own custom AI chips.

Nvidia knows this, which is why its recently-announced $100 billion OpenAI partnership looks more defensive than offensive. OpenAI is one of Nvidia's biggest customers, but it has also been developing its own chips. With this investment, Nvidia is effectively paying to keep OpenAI tied to its GPUs, which is a risky kind of circular financing that echoes what Cisco did during the internet bubble.

Nvidia's dominance in AI infrastructure today is unquestioned, but the upside in the stock could be limited if customers keep moving toward in-house AI chips.

Put it all together, and Alphabet looks like the company best positioned to become the largest in the world by 2030, with a good chance of being bigger than both Nvidia and Palantir combined.

Geoffrey Seiler has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Apple, Bitcoin, Cisco Systems, Nvidia, and Palantir Technologies. The Motley Fool has a disclosure policy.

Spot Bitcoin and Ethereum ETFs in the US saw a sharp reversal last week, shedding more than $1.7 billion after weeks of steady inflows.The downturn, driven by inflation concerns, slowing growth, and monetary policy uncertainty, pushed institutions to cut exposure to high-risk assets.At the same time, capital is rotating into new ETFs tied to Solana and XRP, signaling a shift toward selective diversification.Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States reversed course sharply last week, shedding more than $1.7 billion.

This shift came amid Bitcoin and Ethereum price volatility during the past week as both assets shed more than 8% during the reporting period.

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Bitcoin and Ethereum ETFs Bleed Cash Amid Market Volatility
According to data from SoSoValue, spot Bitcoin ETFs recorded $903 million in net withdrawals. The outflows ended a month-long streak of inflows that had reflected growing institutional confidence.

That sentiment shifted as macroeconomic uncertainty deepened, prompting many institutional investors to trim exposure and adopt a defensive stance.

Ethereum products mirrored the downturn but endured even heavier losses.

Ethereum ETFs Net Daily Inflow This Week. Source: SoSoValue
Data from SoSoValue shows that the nine US-listed spot Ethereum ETFs saw redemptions, amounting to $796 million in outflows. This is their largest weekly withdrawal since launching earlier this year.

The synchronized retreat across both assets reflects a broader cooling in crypto ETF demand.

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Institutional allocators once viewed these vehicles as a convenient entry point into digital assets. They are now reassessing their strategies in light of growing macro headwinds.

Over the past week, persistent inflation concerns, slowing global growth, and heightened uncertainty around US monetary policy have reduced appetite for volatile assets. In this environment, digital assets—long categorized as high risk—were among the first to be pared from portfolios.

Meanwhile, institutional strategies have also grown more defensive, especially as investors are increasingly being exposed to losses.

CryptoQuant data shows that Bitcoin treasury firms raising capital through PIPE deals are under pressure, as share prices trend toward discounted issuance levels.

At the same time, investor attention is rotating toward newly launched ETFs tied to alternative tokens like Solana and XRP.

These vehicles have drawn capital away from Bitcoin and Ethereum funds, introducing fresh competition and encouraging experimentation with underrepresented assets.

The redirection of inflows suggests that while risk sentiment has cooled, appetite for diversification within crypto remains active — just more selective and opportunistic than before.

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.

Project Acropolis could support ADA closer to $1 if it delivers smoother upgrades and stability, though downside risk remains near $0.70.Hydra adoption may lift ADA toward the $1.50 zone if flagship dApps integrate it successfully; limited uptake would keep prices below $1.Ouroboros Leios has potential to re-rate ADA above $2 if testnet results prove strong, creating conditions for a $3 target by 2027.Cardano’s upcoming upgrades could define whether its native token ADA breaks a multi-year ceiling. With Project Acropolis, Hydra adoption, and Ouroboros Leios ahead, the question is whether these technical milestones can reset Cardano’s market narrative and push ADA toward $3 by 2027.

This predictive analysis was conducted through AI using sequence prompting, learning, and advanced reasoning. It should not be taken as financial advice. Readers should perform their own research and consider professional guidance before making investment decisions.

Most importantly, this predictive analysis doesn’t consider additional developments such as institutional adoption, ETF approvals, or regulatory decisions. It’s solely pivoted on Cardano network upgrades and their impact on ADA.

Cardano Network Upgrade Timeline and Expected Impact 
UpgradeTimingTechnical focusWhy it matters for priceExpected ADA price range*Project AcropolisQ4 2025 – Q1 2026Modular node re-architectureImproves stability and shipping cadence; lowers execution risk$0.70 – $0.95Hydra adoption2026 (ongoing)L2 “heads” for low-latency settlementDelivers faster, cheaper UX if apps integrate$0.90 – $1.40Ouroboros LeiosMid–late 2026 (testnet first)Parallelism at base layerRe-rates capacity and long-term utility if metrics hold$1.30 – $2.20Post-Leios path to Mega2027+Advanced scaling roadmapCompounds if delivery stays consistent$2.00 – $3.50
*Ranges reflect tech-to-adoption pathways, not market timing calls.

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How Cardano Upgrades Translate To ADA Price
Markets reward credible execution and user impact. Three channels matter:

Throughput and UX → activity and TVL narrative: Faster, cheaper, smoother apps attract users and volume.

Developer velocity → shorter time-to-feature: Modular code and stable tooling speed delivery. That reduces the “execution discount.”

Transparency and governance discipline: Clear milestones and reporting lower perceived risk.

Price moves when those channels show verifiable proof, not promises.

Project Acropolis: Credibility and Velocity Uplift
Why this can move ADA price toward $0.90–$0.95

Acropolis modularizes the node and reduces operational friction. That makes maintenance easier and future features faster to ship. Stake pool operators should see lower resource strain and fewer regressions. Release cadence should improve.

Markets price this as a lower execution risk premium. If monthly releases arrive cleanly, confidence rises. That supports a re-rating into the $0.90 area.

Downside remains $0.70 risk
If Acropolis slips or spawns hotfix churn, the execution discount returns. SPO frustration or reliability incidents would cap sentiment. Price gravitates toward $0.70 until stability improves.

Proof to watch

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Smooth minor releases for several months.

Positive SPO feedback on performance and uptime.

More merged PRs and contributor breadth.

Hydra: Adoption-Driven Valuation, Not Version Bumps
Why this can move ADA toward $1.20–$1.40

Hydra only matters when top dApps integrate it and publish before/after metrics. Users must experience material latency and cost gains. That lifts activity and strengthens Cardano’s competitive UX story.

Named integrations create a visible moat. One flagship success can push ADA through $1.20. Several production heads with public metrics can sustain $1.30–$1.40.

But it can stall under $1. If Hydra stays niche or tooling remains complex, users see no change. Markets fade the hype and keep ADA range-bound.

Proof to watch

Production Hydra heads with regular settlement.

Public case studies from major dApps.

Wallet and SDK support that hides Hydra complexity.

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Ouroboros Leios: The Base-Layer Scaling Catalyst
Why this can move ADA toward $1.30–$2.20

Leios separates proposal and validation to introduce parallelism. Strong, reproducible testnet metrics signal a credible path to higher base-layer capacity. That expands the feasible app set and reduces future congestion risk.

Markets reward capacity plus decentralization. A stable Leios testnet reframes Cardano’s throughput story. ADA can re-rate toward $2 if the evidence holds.

Conversely, it could cap near $1.20. If metrics wobble or rollout drags, the scaling story weakens. Without clear gains, capital rotates to faster-shipping ecosystems.

Proof to watch

Clear testnet milestones with published performance.

Compatibility notes that ease dApp migration.

Operator feedback on security and stability.

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Why this can stretch ADA to $2.00–$3.50 by 2027

The path above $3 requires compounding:

Acropolis sustains faster shipping and fewer incidents.

Hydra powers several marquee apps with public wins.

Leios transitions from testnet to staged mainnet usage without regressions.

Tooling makes advanced features invisible to users.

That combination reduces risk, boosts activity, and attracts builders. Markets then price a durable execution premium. The result supports a $2–$3.50 band.

However, security incidents, missed milestones, or weak app traction will compress multiples. Narrative slips, and ADA trades with beta rather than a premium.

Critical Outlook
Each upgrade builds on the last. Acropolis enables faster shipping, Hydra requires adoption, and Leios brings the base-layer scaling narrative. Mega remains an aspirational horizon.

For ADA to cross $3, Cardano must convert research depth into visible user impact. Investors should watch for proof in live dApps, validator feedback, and transparent reporting. 

Overall, execution, not promises, will determine if Cardano reclaims a premium in the Layer-1 market.

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.

Cardano (ADA) is steadily positioning itself as a key player in the evolving crypto market, with its 2025 roadmap signaling strong growth potential. The cryptocurrency's potential surge to $1.90 is being fueled by a combination of cross-chain partnerships, DeFi innovation, whale accumulation, and strategic market moves.

Aster token slides 20% from September peak as traders question platform speed, polish, and long-term competitiveness against rivals.Investor exits and mixed signals from CZ add fuel to doubts, sparking skepticism despite early adoption and Binance-linked support.Fundamentals remain strong with $70 million in fees and $701 million TVL, but user trust and competition with Hyperliquid weigh on sentiment.Aster, a decentralized perpetuals exchange launched in early September, has experienced a 10% drop in the last 24 hours alone.

Despite strong early traction and backing from Binance founder Changpeng Zhao (CZ), cracks in sentiment are beginning to show.

Analyst Explains Why Aster Price is DroppingSponsored

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As of this writing, Aster’s powering token, ASTER, was trading for $1.87, down 8% in the last 24 hours. The token is down over 20% from its local top of $2.43, established on September 24.

Aster (ASTER) Price Performance. Source: TradingView
Against this backdrop, analysts have dissected what could be driving the price drop of the decentralized exchange (DEX) token.

Price Pressure and User Doubts
The sell-off comes amid growing skepticism around Aster’s platform performance. Investor Mike Ess revealed on X (Twitter) that he sold 60% of his Aster holdings, rotating into Bitcoin (BTC) and Plasma (XPL).

While he remains profitable, he said his decision was driven by gut instinct after Changpeng Zhao’s recent comments and dissatisfaction with Aster’s product.

“If you’ve used HYPE, then switched to Aster, you know exactly what I mean. It feels slower, less polished, and copy-paste… The more capital I have on it, the riskier it feels,” wrote Ess.

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Other traders have echoed similar concerns. Clemente, another renowned voice on X, disclosed that he exited his Aster position entirely in favor of Hyperliquid’s HYPE token.

“Hyperliquid is clearly the leader in every metric other than crime and CEX distribution,”        the analyst argued.

Mixed Signals From CZ
CZ’s involvement has been a double-edged sword. On September 28, the crypto executive framed Aster as a complementary project to the broader BNB Chain ecosystem despite rivaling the Binance exchange.

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His venture firm, YZi Labs (formerly Binance Labs), holds a minority stake in Aster, which also boasts a team of former Binance employees.

However, traders like Ess interpreted CZ’s tone on a recent Spaces call as distancing, raising doubts about his level of engagement. For some, this perception was enough to spark de-risking.

“If CZ stops talking about it, HYPE wins hands down,” Ess warned.

Still, bullish voices remain. A user known as Cooker expressed conviction that Aster will make a long-term mark on the perp DEX market.

Still holding onto $ASTER, truly banking on CZ and their team to make their long term mark on the perp dex market

Holding $XPL long term will prob be one of the best holds since $HYPE going into 2026

Ofc still holding $HYPE, soon to be a year long hold from my original buy

— Cooker.hl | Kms.eth | Cooker (@CookerFlips) September 28, 2025

Meanwhile, others, like Crash, argued that Aster could outperform Solana and Ethereum in percentage terms over the next cycle.

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Strong Fundamentals, Lingering Uncertainty
By several measures, Aster’s fundamentals remain solid. Since launch, the platform has generated $70 million in fees, while total value locked (TVL) has ascended to $701 million on BNB Chain. For a project only weeks old, these numbers reflect significant adoption.

Aster on BNB Chain. Source: DefiLlama
Yet the quick drawdown highlights the challenge of balancing early growth with user trust and product reliability.

Analysts warn that competition with Hyperliquid is intensifying, and without continued product improvement, momentum could fade.

Therefore, the Aster price’s trajectory remains contested, with supporters seeing it as a bold new player with CZ’s stamp of approval amid a fast-paced scaling ecosystem. On the other hand, skeptics say Aster may be unfinished and overhyped.

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.

The cryptocurrency market has witnessed another wave of intense volatility, with total liquidations exceeding $1 billion in the past 24 hours. Ethereum (ETH) has emerged as the primary contributor, underlining the altcoin's sensitivity to leveraged positions and the broader market trend.

Bitcoin is struggling to break out of a narrowing range, with on-chain and market data showing momentum slipping into neutral-to-bearish territory. 

Data from CryptoQuant, highlighted by Axel Adler in his weekly commentary, points to fading demand and weak follow-through from buyers after a failed attempt to hold above $115,000.

The cryptocurrency’s indecision comes as September draws to a close, a month historically associated with negative returns.

Bitcoin price and volume across exchanges. Source: CryptoQuant
Analysts watch support and resistance levels
Bitcoin traded between a local maximum of $115,400 and a minimum of $108,600 in the past week, before settling into a tight $108,800–109,800 band. Attempts to regain higher ground met with consistent selling at descending highs.

CryptoQuant’s data suggests the immediate resistance level sits around $111,000–112,000. 

A decisive return above this band could restore bullish momentum and allow a retest of $114,000–115,400. By contrast, a break below $108,600 could accelerate losses towards $106,000–105,000, a stronger support zone.

“The structure of descending highs remains unbroken,” Adler noted, pointing out that the base above $108,600 is crucial to maintaining neutrality. If that base gives way without quick recovery, the correction could deepen.

Bitcoin momentum is down. Source: CryptoQuant
Momentum readings turn negative
CryptoQuant’s 30-day momentum index ended the week around –2%, down from +1% at the start of the period, marking a swing of three percentage points. 

Momentum ranged from –6% to +1% across the week, with only two of seven sessions registering above zero, which itself was too few to confirm any sustained trend strength.

The loss of the $114,000–115,000 support coincided with this downturn, reinforcing the signal that cooling and unloading dominate market behaviour. 

“For bullish reversal need return above $112K with holding > 0 several days,” Adler wrote. Without that, neutral-bearish scenarios, including another test of $108,600 or lower, remain the base case.

What to watch for the coming week, quarter
Bitcoin’s recent price trajectory reveals a market that’s not decisively bullish, but not collapsing either. Its momentum remains neutral to slightly bearish, and the next direction it may take lies on buyers and sellers.

If the base holds and demand metrics recover, BTC may stage a renewed advance. But failure to do so might drag it into more extended consolidation or a deeper pullback.

In his forecast for the coming week, Adler suggested, not financial advice by the way, that the market status remains neutral and participants should hold.

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The cryptocurrency market has witnessed renewed volatility over the past 24 hours, and stablecoins are not immune to shifts in investor sentiment. Among them, USDE—a synthetic dollar token designed for decentralized finance—recorded a notable 4% surge, trading at $1.0001 on September 26, 2025.

Cardano founder Charles Hoskinson has reignited the debate in the crypto community with bold claims on X, formerly Twitter, declaring Bitcoin and Cardano to be true examples of decentralized, sound money, embodying financial sovereignty and resistance to centralized control.

His argument may be based on the fact that Bitcoin pioneered peer-to-peer money, and Cardano (ADA) has evolved the model with built-in governance, scalability, and sustainability.

As a result, they represent secure, transparent, and censorship-resistant money beyond the reach of governments and financial intermediaries.

Notably, sound money refers to currency that preserves its value over time and resists inflation.

Once tied to gold and other scarce assets, the concept has been embraced by cryptocurrency advocates, who argue that decentralized digital currencies provide a modern alternative to fiat money, often weakened by excessive printing and monetary policy interventions.

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Meanwhile, Hoskinson recently stirred speculation after declaring on X that ‘Cardano is going to break the internet.’ Though brief and cryptic, his remark intensified talks about whether Cardano’s next phase of development could truly match such bold confidence.

Cardano Nears Key Support After Failed Breakout
Cardano is under fresh selling pressure after failing to hold its recent breakout, according to analyst Lingrid. The token has retreated toward a key support zone, underscoring ongoing uncertainty across the broader crypto market.

Market analyst Lingrid notes that ADA’s chart is riddled with fake breakouts and trendline retests, reflecting indecisive sentiment and choppy price action.

Source: Lingrid
Therefore, the repeated failure to secure direction signals traders’ struggle with mixed market cues, often leading to sharp reversals and fleeting rallies.

ADA is trading around $0.77, with the $0.75 support emerging as a critical battleground. A breakdown below this level could trigger deeper losses and further undermine short-term market confidence.

Lingrid suggests that strong buying interest near $0.75 could trigger a significant rebound, potentially driving ADA back toward the $0.88–$0.92 zone, where renewed bullish momentum may accelerate gains.

Meanwhile, the Cardano Foundation recently launched the next phase of its roadmap, allocating significant ADA reserves to boost stablecoin liquidity and accelerate a wave of new ecosystem projects.

Hyperdrive, a DeFi yield protocol operating on the Hyperliquid ecosystem, has committed to restoring market operations and reimbursing affected users after a breach that forced it to pause all markets and suspend withdrawals. 

In its latest update, the team says it has identified and fixed the root cause and expects full functionality to resume within 24 hours.

Hyperdrive promises compensation
Hyperdrive’s latest communication asserts that the flaw has been fixed and that markets should resume within a day, if not sooner. The team says it has already identified the affected accounts and will implement a compensatory plan. However, details on compensation terms have not yet been disclosed.

Users are cautioned against interacting with the protocol or sending funds until full functionality is confirmed. Hyperdrive reiterated the need to trust only its official channels and warned against scams, particularly unsolicited direct messages requesting keys.

A transparent and timely post-mortem, full reimbursements, and clear communication could help undo reputational damage. But any failure to deliver promised repayments, or further security lapses, could erode user confidence irreversibly.

If the compensation plan succeeds and markets resume, Hyperdrive may salvage much of its standing. But if not, the incident could mark a turning point for governance scrutiny in the Hyperliquid ecosystem, which just launched its own USDH stablecoin on September 24, as Cryptopolitan reported.

Despite Hyperdrive’s reassurances, community sentiment around it and other Hyperliquid-based protocols is not at optimal levels right now. Arthur Hayes, co-founder of BitMex, who has been bullish on Hyperliquid, recently dumped all his HYPE tokens. 

The Hyperdrive exploit adds to the ecosystem’s headache, as it came barely 48 hours after a separate project, HyperVault, saw a $3.6 million outflow in what is now suspected to be a rug pull. 

HyperVault’s X account has been deleted, and its website is reportedly inaccessible. Earlier this year, Hyperliquid was also hit by the JELLYJELLY manipulation in March, which led to the token’s delisting.

Services to resume after brief pause post-exploit
On September 27, Hyperdrive posted on X that it had become aware of issues impacting its protocol, specifically in the Primary USDT0 Market and Treasury USDT Market. To contain potential damage, the protocol halted all interest mechanisms, paused markets, and suspended withdrawals.

In a follow-up post released hours later, Hyperdrive declared that the root cause had been identified and rectified, and that a compensation plan for affected accounts would be deployed soon. The team said markets should return to normal operations within 24 hours.

According to third-party reporting, the exploit affected two user accounts in the Treasury market and is estimated to have drained around US$773,000. Blockchain analytics indicate that the stolen funds were divided and bridged to BNB and Ethereum via the debridge protocol, with 288.37 BNB and 123.6 ETH going to the respective chains.

Exploit took advantage of technical fault
The vulnerability that was reportedly exploited in this incident appears to come from a flaw in its router contract. This allowed the attacker to invoke arbitrary calls on contracts in the whitelist and bypass the platform’s security to move user funds from the thBILL Treasury Market. 

Analysts claim the attack looks like the work of a professional; however, the narrow scope, limited to two markets, allowed Hyperdrive to contain damage before it became a protocol-wide compromise. 

For the Hyperliquid ecosystem, this isn’t good news, as it is coming amid increasing concern about the network’s security posture. Analysts say the cluster of incidents is testing users’ confidence in the Hyperliquid stack.

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Posted: September 28, 2025

Key Takeaways
What is USDH, and how does it impact Hyperliquid?
USDH is Hyperliquid’s new stablecoin, backed by cash and Treasuries, launched to boost its trading ecosystem.

Is Hyperliquid losing ground to its rival Aster?
Yes, Aster has overtaken Hyperliquid in weekly volume, and with a $12B HYPE token unlock coming, pressure on HYPE may continue to build.

Hyperliquid [HYPE] just rolled out its very own stablecoin — USDH!

While that’s happening, its rival Aster [ASTER] has dethroned it in weekly trading volume.

Add to that a massive $12 billion HYPE token unlock on the horizon, and you’ve got the perfect setup for some serious market shifts.

USDH goes live with HYPE at its core
Native Markets officially rolled out USDH on the 27th of September, making it available across both spot and derivatives markets.

Traders can pair the stablecoin against Hyperliquid’s governance token, HYPE, as well as USDC.

Source: X

The team locked 200,000 HYPE for three years to cement the launch. Ahead of the listing, $15 million worth of USDH was pre-minted to seed liquidity, backed by cash and U.S. Treasuries.

What’s more, reserve returns will help fund regular HYPE buybacks, a move that could strengthen the token’s economic base over time.

Is HYPE losing to Aster?
Rival exchange Aster, backed by YZi Labs (the family office of Binance founder Changpeng Zhao) recently pulled ahead in weekly trading volume, doubling Hyperliquid’s numbers.

Even so, Hyperliquid still holds the edge on a 30-day basis, with over $303 billion in activity.

That lead, however, may not last long.

Source: DeFiLlama

Starting in November, nearly 238 million HYPE tokens, worth about $12 billion, will be gradually unlocked over two years. With HYPE already down more than 20% in the past week, the market is bracing for turbulence.

Technical picture looks shaky
HYPE’s daily chart showed clear signs of weakness at press time.

Source: TradingView

The token traded around $44.5 after sliding more than 20% over the past week. The RSI showed bearish momentum, but not yet oversold conditions.

Meanwhile, the MACD stayed below zero with a widening bearish crossover; sellers still had the upper hand. Even though HYPE tried to bounce off recent lows, the lack of strong buying pressure kept recovery limited.

During a recent conversation with podcaster Kyle Chasse, Galaxy Digital CEO Mike Novogratz admitted that he did not think that XRP would survive the SEC lawsuit. 

"XRP has one of the strongest communities there is," Novogratz said. 

The Galaxy CEO has praised Ripple CEO Brad Garlinghouse for successfully navigating lawsuits and keeping the community intact.  

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Cult-like crypto communities Novogratz has recalled that he used to dismiss XRP due to its cultish following. However, he then came to realize that this is half of what crypto essentially is. 

"After 2008, people did not trust governments…We have so little trust that we are finding trust in these online crypto communities," Novogratz noted. 

He has added that all cryptocurrencies that have become successful are supported by cult-like communities. 

This sets crypto apart from the equities market, given that individual stocks rarely have such passionate followers behind them (except for rather rare examples like Tesla).

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Novogratz recalls that he has one employee who essentially sees Bitcoin as his entire life purpose. 

"Who am I to judge"? In fact, Novogratz thinks that XRP is the best token one could have bought after November 2024 based on its impressive performance. "Who would have ever guessed that?" Novogratz added. 

He has also observed that the token is never too expensive for the XRP community, which is rather unusual for the stock market. 

Even though Novogratz used to be skeptical about XRP due to its perceived lack of decentralization, he has since adopted a different view.

"Who am I to judge where people want to store their money?" Novogratz commented. 

China Asset Management Company (ChinaAMC), one of China’s largest fund managers, has launched a $500 million tokenized fund.The fund, which targets stable returns and low fees, is currently limited to two holders as ChinaAMC tests blockchain functionality.The move reflects growing engagement with real-world asset tokenization, even as regulators push for stricter verification.China Asset Management Company (ChinaAMC), one of China’s largest fund managers with more than $400 billion in assets under management, has launched a tokenized money market fund on Ethereum.

According to data provider RWA.xyz, the new product, ChinaAMC USD Digital Money Market Fund Class I USD (CUMIU), invests in short-term deposits and high-quality money market instruments. Its objective is to deliver stable returns denominated in Hong Kong dollars.

ChinaAMC’s Fund Signals Cautious Embrace of Tokenization in China
ChinaAMC developed CUMIU through the Libeara tokenization platform. Each token has a net asset value of $100 and a management fee of just 0.05%, positioning it as a low-cost option for institutions seeking blockchain-based fixed-income exposure.

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Notably, the fund has already deployed approximately $502 million, making it the 11th-largest tokenized product by total value.

ChinaAMC Tokenized Fund. Source: RWA.xyz
However, it still trails industry leaders such as BlackRock’s BUIDL, Ondo’s OUSG, and Franklin Templeton’s BENJI.

Despite its scale, distribution remains narrow. Only two entities currently hold CUMIU tokens, reflecting a limited rollout strategy.

Meanwhile, the selective distribution strategy appears intentional. ChinaAMC can test blockchain functionality and compliance by limiting early participation before broadening access and addressing regulatory caution.

The launch comes as Chinese regulators tread carefully on real-world asset (RWA) tokenization.

Earlier this week, reports emerged that the country’s securities regulator recently instructed local brokerages to halt RWA initiatives in Hong Kong. That guidance reflects concerns about the speed of digital asset adoption and an emphasis on tightening risk controls.

Tokenization allows financial instruments such as bonds, equities, and funds to be issued as blockchain-based tokens. In recent months, Chinese institutions have used Hong Kong as a testing ground for these products.

Yet regulators now want stricter verification of asset backing claims before they permit tokenized funds to scale further.

Even with tighter oversight, ChinaAMC’s launch underscores the broader momentum of tokenization. More than $30 billion worth of RWAs are now on-chain, which grew 7% in the past month.

At the same time, the number of RWA holders rose 9% to over 406,000, showing accelerating investor adoption and suggesting that blockchain-based finance continues to gain ground globally.

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.

The crypto market faced in recent months, as both Bitcoin and Ethereum broke below important support levels. Bitcoin broke below $110,000, while Ethereum also slipped under $4,000. This downturn triggered billions in liquidations and pushed the Fear and Greed Index into fear territory.

However, data from on-chain analytics platform Sentora (formerly IntoTheBlock) reveals that accumulation is quietly underway. Despite the price declines, exchange outflows for both assets have remained strongly negative.

Key Weekly Metrics
An extended decline carried over from the previous week saw the Bitcoin price falling below $110,000 with increasing selling pressure and liquidations of leveraged positions. However, despite this sharp move to the downside, on-chain data illustrates an interesting different trend occurring beneath the surface of the volatility. According to figures provided by the on-chain analytics platform Sentora, more than $5.75 billion worth of BTC flowed out of centralized exchanges over the course of the week.

This outflow, although small compared to periods of strong bullish action, shows a lingering investor conviction, especially among some investors that might be taking advantage and buying the dip. 

Ethereum’s price movement over the same period was even more pronounced than that of Bitcoin. The price crash saw the leading altcoin break down beneath the psychologically significant $4,000 support level and proceed to briefly test lower zones around $3,850. Still, despite the depth of this decline, the exchange flow data makes it clear that the bearish price action did not manage to deter accumulation activity across the network.

BTCUSD now trading at $109,585. Chart: TradingView
Over $3.08 billion worth of ETH exited exchanges during the week, which serves as evidence of a continued willingness among investors to steadily accumulate Ethereum, even in the face of short-term losses and market pressure.

Despite negative price performance, exchange outflows remained strong for both ETH and BTC, indicating accumulation across the market pic.twitter.com/eAqZTk6Vof

— Sentora (previously IntoTheBlock) (@SentoraHQ) September 26, 2025

Outflows Drive Exchange Balances To Multi-Year Lows
Interestingly, Ethereum last week’s outflows ties into a notable trend that has been developing in recent months. Data shows that Ethereum’s total supply on exchanges has dropped to just 14.8 million ETH, its lowest level since 2016. Much of this supply has been redirected into staking, long-term cold storage, and DeFi protocols, which have all led to a drastic decline in the ETH on trading platforms.

ETH balance on exchanges. Source: Glassnode

Data from a CryptoQuant Quicktake post by contributor CryptoOnchain adds further weight to this trend of heavy outflows. Between August and September 2025, Ethereum’s 50-day Simple Moving Average (SMA) netflow dropped below -40,000 ETH per day, the lowest level seen since February 2023. This persistent negative netflow shows that investors have been steadily shifting their ETH away from exchanges and placing it into staking, cold storage, or other long-term holding options. “Lower exchange balances equals reduced short-term supply,” the analyst said.

Ethereum Exchange Netflow

At the time of writing, Bitcoin was trading at $109,585, while Ethereum traded at $4,011.

Featured image from Unsplash, chart from TradingView

20h05 ▪
6
min read ▪ by
James G.

Bitcoin is heading into October with traders eyeing its seasonal track record for momentum. Market participants coined the phrase “Uptober” to describe the month’s history of outsized gains, and attention now turns to whether 2025 will continue that trend. After a modest September, investors are weighing past performance against current conditions to judge whether the final quarter could spark another rally.

In brief

Since 2013, Bitcoin has closed October positive in 10 of 12 years, fueling the “Uptober” momentum narrative.
Standout years like 2013, 2017, 2021, and 2023 saw surges of 28–60%, shaping October’s bullish reputation.
September 2025 closed with a modest +1.09% gain, setting a neutral launchpad for possible October upside.
While history leans bullish, macro shocks and volatility could still disrupt Bitcoin’s seasonal strength.

The Historical Strength Behind “Uptober”
The “Uptober” narrative rests on more than just memes and speculation. Data from Coinglass shows that since 2013, Bitcoin has closed October in positive territory 10 out of 12 years. 

Some years stand out with remarkable gains: 

2013: Bitcoin exploded 60.79% higher, cementing October as a launchpad for early bull market momentum.
2017: A 47.81% surge in October carried Bitcoin into the final leg of its historic rally to nearly $20,000.
2021: Gains of 39.93% reinforced bullish sentiment, propelling Bitcoin toward fresh all-time highs in November.
2023: October delivered a 28.52% climb, proving that “Uptober” could still deliver strong double-digit returns even in a cautious market.

Even moderate rallies—such as the 14.71% rise in 2016, the 10.17% surge in 2019, and the 10.76% gain in 2024—still generated strong year-end momentum.

The exceptions—2014 (-12.95%) and 2018 (-3.83%)—serve as reminders that seasonality is not a guarantee. Still, history supports the perception that October often tilts bullish for Bitcoin. This statistical edge creates a feedback loop: as traders anticipate gains, positioning and liquidity amplify momentum.

By contrast, September has typically been one of Bitcoin’s weaker months. In 2025, the asset has managed a small +1.09% gain for September, a neutral finish that leaves the market reset rather than overheated or oversold. For many traders, this balance makes the current setup a workable launchpad for an “Uptober” push.

Why October Often Matters for Bitcoin
Although no single reason explains why October favors Bitcoin, several recurring factors align around this time of year. Historically, Q4 marks an uptick in trading activity, with investors returning from summer slowdowns and reallocating capital into risk assets. Market sentiment also tends to improve as the year’s final quarter becomes a window for portfolio adjustments.

In addition, narratives play a critical role. When enough traders expect October to be strong, liquidity and buying pressure often meet that expectation. “Uptober” is both a meme and a market force, with optimism generating energy that in turn reinforces optimism.

Still, analysts caution against treating October as a shortcut to profits. Even in positive years, performance has varied widely. A modest +5% gain in 2022 contrasted sharply with the +30% surges in 2015 and 2021. This wide range reinforces the need for risk management. 

Entering October with expectations of steady gains each session can set traders up for disappointment. Treating “Uptober” as a setup rather than a certainty keeps the focus on technical confirmations and market structure.

Market Context Heading Into Q4 2025
At present, Bitcoin trades near $109,539, around 11.5% below the year’s highs. This places the asset in a middle ground—not in crisis territory, but not at peak euphoria either. How Bitcoin navigates early October will depend on whether buyers can sustain breakouts, defend support zones, and expand participation through higher open interest and stronger funding flows.

For bulls, history offers encouragement into the current optimism over the coming month. Previous strong Octobers have often served as springboards for multi-week rallies that extended into November and December. A successful defense of current levels, combined with growing demand, could lay the foundation for a renewed climb.

Bears, however, emphasize that historical trends are descriptive rather than predictive. A single macroeconomic shock—arising from interest rate changes, global market fluctuations, or liquidity constraints—has the potential to disrupt seasonal patterns. Hence, they contend that, while “Uptober” reflects market sentiment, it cannot supersede fundamental or macroeconomic forces.

Another lesson from past data is the variability in outcomes. Even within positive Octobers, intramonth swings can be sharp, testing traders’ patience and positioning. That makes tactical flexibility key: monitoring breakout confirmations, watching for higher lows on pullbacks, and adjusting leverage in line with volatility.

Outlook: Anticipation Meets Reality
Data offers insights into the optimism around “Uptober,” one such being that the market has recorded ten green Octobers since 2013. Multiple double-digit gains and a track record of kick-starting Q4 also add to this optimism. With the market cooling from summer highs, the setup favors cautious optimism over blind faith.

Still, the market will ultimately decide whether 2025 becomes another “Uptober” or one of the rare exceptions. Traders will be watching early price action closely for signs of sustained momentum. Breakouts that hold, rising participation, and constructive pullbacks will matter more than seasonal slogans.

For now, the bias leans toward cautious optimism. History suggests that October often rewards patience, but risk control remains vital. If Bitcoin can build on September’s small gain and turn it into higher highs in October, “Uptober” could once again live up to its name.

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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.

The change would allow high-performance validators to fit more transactions into a single block, earning more revenue and scaling the network's capacity.