Market Signal Briefing

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The crypto market is largely trading in the green at 2026's start; XRP extended its recovery from the Dec. 31 low of $1.80 into the second day.

At the time of writing, XRP was trading up 2.2% in the last 24 hours to $1.89, having reached an intraday high of $1.90.

The recent move seems like a limited recovery inside a broader ceiling. XRP repeatedly slowed as it approached the $1.90 range, which lines up with a broader resistance zone ahead of the $2 level. This matters because recent attempts to reclaim $2 have failed quickly, turning the level into a supply zone where sellers are taking profits.

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XRP/USD Daily Chart, Courtesy: TradingViewAccording to crypto analyst Steph is Crypto, since 2017, XRP’s price has repeatedly been rejected in the $2 zone. This is as every major cycle rally stalled at this level, making it one of the most important long-term resistance areas in XRP’s history.

On a yearly time frame, the longer the price builds under resistance, the more powerful the move tends to be once it finally breaks.

A clean, consecutive close above $2 would signal long-term supply exhaustion and open the door to a bigger price move.

What's left?XRP faces resistance in the $1.9 range, with a broader range between $1.77 and $2.00, as technical indicators show mixed momentum. Notably, the $1.91 to $1.98 resistance band has stopped XRP from advancing toward $2.

Momentum indicators remain mixed. A few oscillators suggest bullish divergence as though momentum is improving even as the price has not made a breakout yet, but this still requires a bit of follow-through, especially above the $1.9 range, to validate it.

On the other hand, the structure looks constructive as long as XRP holds above the $1.82 level and more broadly above the $1.77 level, which XRP has recently confirmed as support.

A sustained push above $1.88 opens the door to a run toward $1.95, with $2.00 as the breakout trigger. A clean breakout above $2 might likely attract buyers and force sellers who are defending this level to reposition.

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The Russian-U.S. national who hacked crypto exchange Bitfinex and stole nearly 120,000 bitcoin said he has been freed from prison early thanks to the bipartisan prison-reform law signed by President Donald Trump.

Ilya Lichtenstein, 38, had been sentenced in November 2024 to five years in prison after pleading guilty to a money laundering conspiracy charge and admitting to the hack of crypto assets now valued in the billions of dollars.

But late Thursday night, a post on Lichtenstein's official X account declared, "Thanks to President Trump's First Step Act, I have been released from prison early."

"I remain committed to making a positive impact in cybersecurity as soon as I can," Lichtenstein's post said.

"To the supporters, thank you for everything. To the haters, I look forward to proving you wrong."

A Trump administration official told CNBC on Friday morning that Lichtenstein "has served significant time on his sentence and is currently on home confinement consistent with statute and Bureau of Prisons policies."

Attorneys for Lichtenstein did not immediately respond to requests for comment on his release.

Lichtenstein's wife, Heather Morgan — who also pleaded guilty to helping launder the stolen funds — shared Lichtenstein's message on her own X account, saying, "The best New Years present I could get was finally having my husband home after 4 years of being apart."

Morgan's tweet, posted two minutes after Lichtenstein's, included a photo of the couple smiling for a selfie.

Lichtenstein's sentence included credit for time he already served in custody following his arrest in 2022, more than five years after Bitfinex was hacked.

As of Friday morning, a search for Lichtenstein's name using the federal government's inmate locator website returned one result showing Lichtenstein is scheduled to be released on Feb. 9.

The Bureau of Prisons did not immediately respond to a request for comment.

Morgan, 35, a rapper who releases music under the name "Razzlekhan" and also went by "The Crocodile of Wall Street," was sentenced to 18 months' incarceration shortly after Lichtenstein received his prison sentence.

She entered prison in February. But on Oct. 26, Morgan posted a video of herself saying she had been released early.

She also thanked Trump.

"Why hello Razzlers, I have missed you," Morgan said in the clip, in which she appears in a bathtub wearing only a hair towel.

"It is very good to be back, and I want to give a shout out to Papa Trump for making my 18-month sentence shorter," she said. An email to Morgan's manager was not immediately returned.

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It is unclear whether Trump or the White House had any direct involvement in Lichtenstein or Morgan securing an early prison release. But the announcements from the bitcoin hacker and his wife follow a number of high-profile cybercrime-related pardons and commutations that have been doled out by the crypto friendly president since his return to office.

One day after his inauguration, Trump pardoned Ross Ulbricht, founder of the infamous dark web marketplace Silk Road.

In October, Trump pardoned Changpeng Zhao, the founder of major crypto exchange Binance, who had pleaded guilty in 2023 to enabling money laundering on the platform.

In a development that could accelerate the evolution of cross-border financial infrastructure, JPMorgan’s GTreasury initiative on the XRP Ledger signals a potential turning point for global payments. JPMorgan’s move challenges long-standing assumptions about the role of banks in digital asset settlement and the increasing legitimacy of the XRP Ledger as a foundation for real-world transaction flows.

What JP Morgan has done with GTreasury using the XRP Ledger will change payments forever. Crypto analyst Xfinancebull has revealed on X that when JPMorgan moves, it’s never for show. This was a direct integration into Ripple’s stack, allowing the Ledger to transition from Crypto Rails into the real-world plumbing for global banking.

What This Means For XRP And The Broader Digital Asset Market
This isn’t about transaction volume; it’s about signal, and the GTreasury system migrates only when the infrastructure is proven safe, fast, and scalable. Ripple didn’t chase relevance; it built infrastructure before the banks arrived. This integration reframes the altcoin to become a foundational layer, not a speculative asset reacting to market sentiment.

Related Reading: How XRP’s Utility Will Drive Price Appreciation In The New Year

The fundamentals of the XRP Ledger continue to grow massively without noise. An analyst known as Vet highlighted that while other ecosystems are struggling to fix their consensus and unique native approach for a multi-currency ledger, XRPL remains the best-in-class. The network continues to attract high-quality validators and deeply technical community members more than ever before.

Education and accessibility have also reached a level where Tap has been well-designed for individuals with the apps and the XRPL.org site. On the protocol side, security has been taken to the next level with formal specifications and formal verification, which is bleeding-edge technology in crypto already used in military and aerospace systems.

The payment engine is already specified, and the compliance features with DID, Credentials, and upcoming permissioned domains/DEX functionality are enabling Ripple payments to operate directly on XRPL DEX infrastructure. In addition, Evernorth $1 billion involvement in XRP is aimed at generating yield.

Meanwhile, XRP ETFs continue to grow, with issuers reporting high long-term conviction among their investors in the altcoin. Even a quantum-proof encrypted XRPL test net already exists. This is a grind that involves patience, but the trajectory is upward, which has been up. 

How The XRPL Fits Institutional Portfolio Architecture
According to the XRP Update on X (formerly Twitter), Franklin Templeton, a $1.53 trillion global asset manager, has publicly identified the XRP Ledger and XRP as a foundational building block for digital asset portfolios.

This move reinforces the altcoin’s role in institutional-grade infrastructure, making it highly scalable, liquid, and built for real-world financial use cases.

XRP trading at $1.89 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com

Dogecoin is ending the first week of 2026 parked on a cluster of long-watched supports, and three chart-focused analysts are converging on the same question: is this the higher low that starts a broader bottoming process, or just another pause inside a larger corrective leg?

The Yearly Dogecoin Chart
On the yearly view, Cantonese Cat’s chart frames 2025 as a hold of the 0.786 log Fibonacci support at roughly $0.10879, with the market printing an inside candle into year-end. In that construction, the key takeaway is not momentum but structure: price respected a major retracement line on a log scale and stayed boxed inside the prior year’s range: “DOGE ended 2025 holding 0.786 log fib as support, forming an inside candle, favors bullish continuation,” the analyst writes.

Dogecoin yearly chart analysis | Source: X @cantonmeow
The same yearly chart also contextualizes what “continuation” on the yearly view means: the next major reference level is the 1.0 fib line up near $0.73905. That is not being presented as an imminent target, but it does underscore why analysts care about this zone, if the 0.786 level holds on higher timeframes, the chart’s mapped upside is structurally open, even if the path is not linear.

The Monthly DOGE Chart
Matt Hughes aka “The Great Mattsby’s” monthly chart tightens the focus to a single, precise level: the 0.382 Fibonacci retracement at $0.11778. Price is shown holding that line while carving out what the chart labels as a higher low, and the analyst is explicit about what that would mean in market-structure terms.

Dogecoin monthly chart analysis | Source: X @matthughes13
“To me, this looks like the higher low needed to start the bottoming process, especially with price holding the 0.382 Fib retracement at 0.11778,” Mattsby wrote, adding that he views the “.11–.12 zone” as compelling on a risk/reward basis. In this framing, the thesis is conditional: the market is not “bullish” because it bounced, it’s constructive because it is attempting to stop making lower lows while defending a defined retracement.

If that $0.11778 level gives way on a monthly basis, the same fib ladder shown on the chart highlights lower references beneath it, including the 0.236 retracement around $0.08433. On the upside, the next retracement markers visible are $0.15428 (0.5) and $0.20210 (0.618), which would be the nearby “prove it” areas if this is, in fact, a basing process rather than a dead-cat bounce.

The Weekly Dogecoin Chart
Kevin (Kev_Capital_TA) shifts the emphasis to the weekly. Via X, he posted: “Still early but Dogecoin is currently printing a really nice weekly reversal demand candle within a major demand zone.”

Dogecoin weekly chart analysis | Source: X @Kev_Capital_TA
His conditions are tight and time-bound: “If you can confirm that weekly candle by Sunday close, reclaim the 4HR 200 sma/ema on both Doge and BTC then you could see the low put in for this major correctional phase and the counter trend move higher occuring. All eyes on 88K-91K on BTC.”

For Dogecoin traders, the immediate calls are straightforward: Dogecoin needs to keep defending the $0.11–$0.12 area, while the weekly close either validates or negates Kevin’s reversal-candle thesis.

If price loses the $0.11778 monthly retracement, the “bottoming” narrative weakens quickly; if it holds and begins reclaiming nearby resistance levels, the charts collectively argue the market may be transitioning from correction to base-building, one confirmed close at a time.

At press time, DOGE traded at $0.13242.

DOGE needs to overcome the red zone, 1-week chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

Dogecoin price has reclaimed the $0.12 level after a failed auction, signaling strong demand and raising the probability of a short-term trend reversal.

Summary

A failed auction at $0.12 confirms strong buyer demand at support.
Price has reclaimed the value area low, strengthening bullish momentum.
A move above the point of control could open a rally toward $0.15 resistance.

Dogecoin (DOGE) price is showing early signs of a potential trend shift after reclaiming the key $0.12 level, following what appears to be a confirmed failed auction. This type of price behavior often marks an important inflection point, particularly when it occurs at high-time-frame support.

While Dogecoin has spent recent weeks trading within a broader corrective structure, the swift recovery back above $0.12 suggests that demand is actively absorbing sell pressure at lower prices. If this reclaim continues to hold, it could set the stage for a broader rotation higher within the current trading range.

Dogecoin price key technical points

Failed auction confirms $0.12 support: Price briefly broke below support but failed to sustain acceptance lower.
Value area low reclaimed: Acceptance above this level strengthens the bullish continuation case.
Point of control is the structural trigger: A reclaim would signal a shift in market structure and trend direction.

DOGEUSDT (4H) Chart, Source: TradingView
The defining feature of Dogecoin’s recent price action is the failed auction around the $0.12 level. Price initially broke below this high-time-frame support, suggesting a potential continuation lower. However, that move was quickly rejected, with Dogecoin reclaiming $0.12 and returning back into its prior value area.

Failed auctions are an important concept in market profile and price action analysis, as they reveal areas where one side of the market lacks conviction. In this case, sellers were unable to sustain acceptance below $0.12, indicating that demand was strong enough to absorb sell orders aggressively. This type of rejection often acts as a catalyst for reversals, particularly when it occurs at established support.

Following the reclaim of $0.12, Dogecoin has also moved back above the value area low, which adds further technical significance to the move. Acceptance above the value area low suggests that price is no longer trading at a discount relative to recent value, increasing the probability of continuation toward higher levels within the range.

From a price action perspective, this reclaim indicates improving bullish control. Buyers are no longer defending price from below; instead, they are now supporting the market from within value. This transition often precedes a rotation toward the point of control, where the highest volume of recent trading has occurred.

Structurally, Dogecoin has been trading within a sequence of lower lows, keeping the broader trend biased to the downside, with DOGE showing concerning chart patterns as ETF momentum continues to stall. However, the failed auction and subsequent reclaim introduce the possibility of a structural change. If price can reclaim the point of control, it would break the pattern of lower highs and establish a higher high.

If Dogecoin continues to hold above the value area low and successfully reclaims the point of control, the next upside objective comes into focus near $0.15. This level represents high-time-frame resistance and aligns closely with the value area high, creating a natural magnet for price if bullish momentum persists.

What to expect in the coming price action
As long as Dogecoin continues to hold above $0.12 and maintains acceptance above the value area low, the technical outlook favors continuation higher in the short term. The failed auction suggests strong demand is present at current levels, increasing the probability of a rotation toward the point of control and potentially the $0.15 resistance zone.

ETH ended 2025 in the red, after closing nine months of losses. This is the worst performance for ETH since the 2018 bear market. 

The past year saw ETH close nine months in the red, its worst losing streak since 2018. Despite the overall positive performance of the Ethereum network, the underlying token lagged, only briefly making a new all-time high. 

In 2025, ETH did not suffer a big crisis, yet its performance was worse in comparison to 2022, when only seven months ended in the red. ETH crashed despite the lack of a major catastrophic event or bankruptcy in the crypto space, and in the midst of record wallet activity.

While the Ethereum ecosystem showed signs of health, including address activity, stablecoin inflows, and DeFi expansion, the ETH token failed to fulfill expectations for a higher price range. 

ETH lagged in dollar terms despite a climb against BTC
In 2025, ETH lost the faith of retail investors and instead became a playground for whales and institutions. ETH whales attempted to achieve a more favorable average price by buying the dip, but the token did not have enough momentum to break out. ETH failed to fulfill the prediction of Bitmine’s Tom Lee for a hike to $7,500 or even $10,000 at the end of the year. 

The token ended the year with 11.9% in market cap dominance. Over the course of 2025, ETH managed to recover from lows of 0.019 BTC to end the year at 0.034 BTC. Despite this, the token did not fulfill the expectations of expanding to $10,000. 

The weak ETH performance also coincided with the failure to launch a more lasting altcoin season. The weakness of L2 performance also affected Ethereum, as liquidity left even top networks like Arbitrum.

Treasury companies only had a brief effect on the price of ETH. Unlike BTC treasuries, building up ETH reserves was viewed as a means to earn passive income through staking. Even DAT companies did not show conviction in the climb of ETH, but instead on the token’s DeFi and staking ecosystem. 

ETH recovered the $3,000 range
Despite the downturn, ETH managed to recover the $3,000 range. The token mostly traded above the acquisition price of whales at $2,800, bouncing from this support level. The asset ended 2025 with a net loss of 11% after turbulent shifts each quarter. 

ETH ended 2025 with a net loss of close to 11%, despite the mid-year relief rally. Even with DeFi recovery, ETH had its worst year since 2018. | Source: Coingecko
The token had its worst quarterly performance at the start of 2025, losing over 45%. Later, ETH managed to bounce off the mid-year slump and spend several weeks above $4,000. ETH moved to $3,079.92 as of January 2, following a market-wide recovery. 

The token ended 2025 with a neutral market sentiment, following weeks of relatively subdued derivative trading. Following the October 11 liquidation, ETH open interest declined to a low of $16.2B, recovering to $18B by the end of 2025. 

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Fri, 2/01/2026 - 17:12

XRP continues to gain support from the world’s highest IQ holder, YoungHoon Kim, who has recently claimed the launch of an XRPL-based token to boost adoption.

Cover image via U.Today

The world’s highest IQ holder, YoungHoon Kim, has again shown support for the leading altcoin XRP after announcing the launch of a crypto token based on the XRP Ledger (XRPL).

The project, which Kim considers a major effort to support the XRP ecosystem, introduces a two-chain, two-role design built around both Solana and the XRP Ledger.

As part of the project, Kim initially launched $LAMB, a Solana-native crypto asset primarily designed to drive community growth, social engagement, and meme culture.

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While Kim revealed that the proposed XRP-based token will launch after the presale of $LAMB, he has yet to announce the name of the token.

Nonetheless, he revealed that the token aims to provide functional utility for the XRP Ledger and the broader XRP ecosystem, noting that it will be structured to inject value directly into XRPL.

As part of its mission, the token will serve as the operational engine for decentralized governance, DAO participation, and on-chain engagement.

XRP community frowns at Kim’s XRPL initiative While Kim clearly declared that the launch of the token is aimed at supporting XRP, his initiative has received mixed reactions from the XRP community, with the majority of commentators expressing displeasure with the project.

Reactions to the project show many users expressing doubts about the credibility of the project, Kim’s IQ claim, and the risks associated with the presale structure of the first token, $LAMB, and the proposed token.

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Some of the criticism centered on Kim’s constant price predictions, which have often failed. His recent $3 prediction, which also failed as XRP remained below $2 within the expected period, has been perceived as a mere tactic to gain attention and eventually dump his token.

While it appears that the XRP community largely doubts the credibility of Kim’s crypto projects amid claims of a suspected scam, the repeated bold predictions have further fueled mistrust and heightened skepticism about the intentions behind Kim’s project.

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Summary:

Ethereum closed 2025 with nine losing months, its worst performance since the 2018 bear market
ETH trades near $3,040, with $3,000 acting as a critical support level into 2026
Despite price pressure, network activity hit record highs, highlighting structural resilience
Ethereum is entering 2026 under sustained pressure after closing 2025 with its harshest annual performance since the 2018 bear market. Data shows ETH recorded nine losing months out of twelve, reviving comparisons with prior cycle downturns and raising questions over whether the traditional four-year crypto cycle is weakening.

While spot prices have stabilised above major psychological levels, analysts say Ethereum’s inability to regain long-term momentum into year-end reflects a market still in correction rather than recovery mode.

Ethereum’s 2025 Declines Mirror 2018 Bear Market Patterns
According to data from CoinGlass, Ethereum declined consecutively from February through April 2025 and again from September through December 2025. February 2025 delivered the steepest drop, with ETH falling 32%, followed by a 22% decline in November 2025 and an 18.7% slide in March 2025.

Although July and August 2025 provided temporary relief, with gains of 48.8% and 18.8% respectively, the broader annual trend remained decisively negative. This sequence closely mirrors 2018, when Ethereum suffered repeated double-digit monthly crashes, including a 53.8% collapse in March 2018, reinforcing 2025 as Ethereum’s weakest year since that cycle.

ETH Price Holds $3,000 as Technical Pressure Persists
As of early January 2026, Ethereum trades near $3,039, posting modest daily gains but remaining down roughly 11% year-over-year. On the daily chart, price is hovering just above its 200-period moving average and a major horizontal support zone around $3,000.

Market analysts note that Ethereum’s price structure remains compressed. A sustained daily close above $3,000 is seen as necessary to stabilise momentum, while a failure to hold this level could extend sideways or corrective trading into the first quarter.

Ethereum Key Technical Levels

Support: $3,000, then $2,850
Resistance: $3,300, followed by $4,800
Downside risk if support fails: $2,500

Ethereum Price Chart For January 2 2026 Created on TradingView
Crypto Analyst Predicts that Ethereum Price May Hit $4,000 in 2026
Despite bearish conditions, some analysts argue Ethereum retains rebound potential if key technical structures hold. Crypto analyst Cas Abbe has pointed to ETH trading above a long-term ascending trendline connecting major swing lows since mid-2025, a structure that has remained intact through the downturn.

https://twitter.com/cas_abbe/status/2006325573388582970?s=20

Momentum indicators are also showing early signs of stabilisation. RSI and MACD on the daily timeframe are attempting to turn higher, forming a bullish divergence. Analysts caution, however, that a break below the trendline would invalidate the rebound case and reopen downside risk toward $2,500.

Ethereum Whales and Institutions Increase Accumulation
Positioning data suggests accumulation is continuing beneath the surface. BitMine has increased its Ethereum holdings over recent weeks, reinforcing expectations of a longer-term recovery. Separately, on-chain data shows addresses holding more than 1,000 ETH now control roughly 70% of circulating supply, reflecting renewed accumulation by large holders.

ETF flows have also improved. After heavy outflows earlier in December, Ethereum ETFs recorded net inflows in the final week of 2025, signalling easing sell-side pressure as the new year begins.

Ethereum Outlook for Early 2026
Ethereum enters 2026 in a compression phase, not capitulation. While historical comparisons point to a bear-market environment, continued developer activity, institutional accumulation, and improving flow data suggest downside may remain orderly rather than disorderly.

A sustained break above resistance would be required to validate a broader recovery. Until then, ETH is likely to trade in wide ranges, with $3,000 acting as the key line separating stabilisation from renewed downside.

Is Ethereum in a bear market in 2026?

Ethereum shows clear bear-market characteristics based on price structure and historical comparisons, though it has avoided capitulation.

Can Ethereum reach $4,000 in 2026?

A move toward $4,000 is possible if ETH holds key support and reclaims resistance, but the setup remains conditional and not yet confirmed.

Is Ethereum a good coin to buy today?

Ethereum may appeal to long-term investors due to strong network activity and ongoing accumulation, but near-term price action remains volatile and risk-dependent.

Bitcoin’s price action in 2025 pointed to a market shaped less by speculative and impulsive excess and more by macro forces.

The bitcoin price traded through a wide range last year. According to Bitcoin Magazine Pro data, bitcoin rallied above $126,000 during mid-to-late-year advances fueled by ETF inflows and optimism around U.S. regulatory clarity. Those highs did not hold.

By the fourth quarter, tighter financial conditions and elevated real yields weighed on risk assets. The bitcoin price slid sharply from its peak and ended the year near $87,000. It is on track for its first full-year decline since 2022.

While the drop from the highs was steep and can feel negative, longer-term charts tell a different, more bullish, story.

Bitcoin’s yearly lows continued to trend higher. Data shows the yearly low rose from $366 in 2016 to $76,329 in 2025. Each major cycle has set a higher floor despite deep drawdowns along the way.

The pattern held after major downturns in 2018 and 2022. In both cases, bitcoin later established higher yearly lows. The 2025 low stands well above prior cycle troughs, even after a volatile year.

The gap between yearly highs and lows widened in 2025. That spread reflects persistent volatility and rapid shifts in sentiment. It also highlights a market still adjusting to its growing size and popularity. 

Analysts say the rising floor suggests deeper capital support than in past cycles. Long-term holders have shown greater willingness to accumulate during declines. Forced selling has remained concentrated during brief liquidation events rather than extended crashes.

Macro conditions played a central role throughout the year. Inflation remained sticky. Central banks kept policy restrictive longer than expected. That backdrop favored yield-bearing assets and pressured speculative positioning.

The bitcoin price’s correlation with broader risk markets increased. Price movements tracked equities more closely, especially during U.S. trading hours. Late in the year, crypto assets often sold off while American stocks were open.

That pattern showed signs of shifting as 2026 began. The bitcoin price climbed above $90,000 during early U.S. trading sessions. 

October 10: Bitcoin price’s humbling ‘down to earth’ moment Still, the defining moment of 2025 came earlier.

On Oct. 10, the bitcoin price suffered a massive and sharp intraday plunge of roughly $12,000. The move triggered billions of dollars in liquidations across derivatives markets. Total crypto market capitalization fell sharply in a single session.

The selloff set the stage for a prolonged pullback that is still being felt in the broader crypto market. Within weeks, bitcoin was trading more than 30% below its peak near $126,000. The decline erased much of the optimism that had dominated forecasts at the start of the year.

Entering 2025, price targets were aggressive. Many analysts and executives expected a sustained breakout well beyond prior highs. ETF inflows and institutional adoption formed the core of most bullish theses.

Those expectations failed to materialize. ETF demand absorbed supply but did not spark reflexive rallies. Liquidity conditions remained tight. Leverage repeatedly capped upside moves.

By year-end, the gap between forecasts and realized prices was clear. Bitcoin closed far below even the more conservative projections made earlier in the year.

Despite that, the yearly lows chart should attract attention and comforting thoughts.

The steady yearly lows reflect a maturing market. Bitcoin is larger, more regulated, and more integrated into global markets than during prior cycles. That structure may limit explosive rallies but also reduce the risk of total collapse.

The data suggests one clear trend. Even in a year marked by sharp corrections and unmet expectations, bitcoin price’s long-term floor will rise.

The bitcoin price is trading at $90,321, up 3% in the past 24 hours, with a market cap of $1.81 trillion and a 24-hour volume of $46 billion. Its price is near its 7-day high of $90,789 and 3% above its 7-day low of $87,967, with 19.97 million BTC in circulation out of a 21 million max supply.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

On the last day of 2025, while most traders were half watching fireworks and half pretending they were not checking charts, the quietest corner of the financial system started making a lot of noise.

Banks pulled a record amount of cash from the Federal Reserve’s SRF, about $74.6 billion, on December 31. That number matters because the Standing Repo Facility is the Fed’s pressure valve, banks swap high-quality collateral for overnight cash, and they usually tap it hardest when private funding markets get tight.

If you read crypto long enough, you learn that Bitcoin not only trades on narratives, it trades on oxygen. Liquidity is oxygen. When it gets scarce, everything feels heavier, bids thin out, rallies struggle, and every selloff looks sharper than it should.

That is why CryptoSlate, as well as many macro-focused accounts, including Kobeissi, flagged the year-end repo spike as a sign of stress.

The Kobeissi Letter, however, also hinted at something else, a turn in the liquidity tide that could show up in risk assets, including Bitcoin, sooner than people expect.

The repo spike was the symptom, the Fed response was the tellYear end stress in funding markets happens almost every year, banks want their balance sheets to look clean into reporting dates, they step back from lending, cash becomes less available, and short term rates can wobble.

This time, the wobble was bigger. Alongside the record SRF usage, money also rushed into the Fed’s reverse repo facility, $106 billion on the same day, another classic “play it safe” behavior when balance sheets tighten.

The important part for 2026 is what came next, because the Fed had already started moving before the year-end spike hit its headline.

On December 12, the New York Fed began Treasury bill purchases, about $40 billion in “reserve management purchases,” with the stated goal of keeping reserves ample. That sounds boring, and it is supposed to be. These purchases are marketed as maintenance, the Fed saying it wants the pipes to run smoothly, and the interest rate plumbing to behave.

Markets tend to treat that maintenance as a signal, because it changes the direction of liquidity at the margin.

A month earlier, the Fed also confirmed it would cease the runoff of its securities holdings starting December 1, effectively ending the ongoing drain from quantitative tightening. Even if you never want to call this a pivot, the balance sheet stopped shrinking and then started growing in a targeted way.

That sequence matters, and it matters for Bitcoin, because Bitcoin’s relationship with macro has matured over the last two years.

The ETF era pulled BTC deeper into traditional market flows, and the market now watches the same plumbing signals that credit traders watch.

Why this kind of “plumbing stress” can flip into “plumbing support”If you want the simple version, banks borrowing $74.6 billion from the SRF does not automatically mean liquidity is improving.

It means cash felt tight enough that they preferred to borrow from the Fed, and that can happen for seasonal reasons, for deeper reasons, or for both.

The part that points toward improving liquidity early in 2026 is the Fed’s willingness to lean against reserve scarcity, and it is doing that with balance sheet tools rather than speeches.

The New York Fed’s RMP statement also signals the pace should remain elevated “for a few months,” because non-reserve liabilities tend to jump around April. That line matters for anyone trying to time liquidity conditions; it suggests the Fed expects this support to run through early spring.

In plain English, the Fed is trying to keep enough cash in the system so banks and dealers do not reach a point where they start rationing liquidity, which could spill into broader markets.

When dealers can fund positions smoothly, market depth improves. When market depth improves, price moves do not need as much force to travel. Bitcoin tends to like that world.

Why traders care about the pipesMost people experience “liquidity” like they experience weather. They do not see it directly, but they feel it in the air.

In crypto, the feeling shows up as thin weekends, sharp wick downs, and rallies that look strong until they meet a wall of sellers who have been waiting for any bounce to exit.

In traditional finance, the feeling shows up as repo rates jumping, banks retreating, and suddenly everyone starts talking about facilities that almost nobody outside the bond world had heard of.

Year-end funding stress is usually a short story. This one has a longer tail, because it connects to a bigger theme, reserves have been getting tight again.

Volatility has been compressing, the market has been bracing, and it is waiting for a cleaner signal to re-risk.

When the pipes stop rattling, leverage starts to creep back in, and crypto tends to notice before the macro crowd gives it a name.

If the four-year cycle is fading, liquidity becomes the cycleA lot of people still anchor Bitcoin to the halving calendar. The halving matters; it changes issuance, shapes long-term supply dynamics, and remains part of the story.

What is changing is the marginal driver, the thing that pushes price week to week and month to month.

Spot ETFs pulled Bitcoin into a world where flows can dominate. You see it in the way the market reacted during 2025: inflows helped push rallies, while outflows and risk-off positioning helped deepen drawdowns.

CryptoSlate has already documented how brutal that reset was in the ETF complex. Total U.S. spot Bitcoin ETF AUM peaked at $169.5B on October 6, and fell to $120.7B by December 4, in CryptoSlate’s ETF AUM breakdown.

When AUM is hit that hard, the market takes a while to rebuild trust. The first requirement for that rebuild is a cleaner liquidity backdrop.

This is where the “cycle might be over” framing becomes useful: it lets you talk about what actually drives the next move and opens the door to looking at macro plumbing without apologizing for it.

Grayscale leans into that idea directly. In its 2026 outlook, the firm argues that 2026 could mark the end of the apparent four-year cycle and that Bitcoin could exceed its previous high in the first half of the year.

Standard Chartered has been making a similar structural point from a different angle; their research head has argued that ETF flows have become a more critical price driver than the classic halving rhythm.

You do not have to agree with every target price in those notes to use the framing; the market structure has changed, and liquidity signals have become more critical.

What to watch in early 2026, the indicators that tell you liquidity is actually improvingIf you want a clean checklist that stays useful beyond today’s headlines, here is what matters.

Does SRF usage normalize after the calendar turns?
A sharp fade would support the idea that December was mainly seasonal. Persistent large prints would suggest deeper reserve-tightness and keep the Fed under pressure to keep adding liquidity.Do Treasury bill purchases keep running at size into Q1?
The New York Fed has already laid out the schedule logic in its RMP statement. If that “few months” turns into a longer program, the liquidity impulse strengthens.Do broader financial conditions stay loose?
You can track the Chicago Fed’s National Financial Conditions Index via FRED. Loose conditions alongside reserve support is the kind of setup risk assets usually like.Does crypto native liquidity grow again?
Stablecoins are the simplest proxy for transactional liquidity inside crypto. DefiLlama’s stablecoin dashboard is helpful here; if the total market cap starts rising in a sustained way, it often lines up with improving risk appetite.Do ETF flows turn from background noise into a steady bid?
Farside’s ETF flows table is the daily tape. One green day does not change a regime, a steady streak does.Does volatility keep compressing?
A calmer vol regime makes leverage cheaper and makes institutions more comfortable adding exposure.What liquidity returning could mean for Bitcoin price, a realistic path, not a fantasy candleThe market loves clean narratives. Liquidity improves, Bitcoin pumps, everyone cheers.

Reality moves more slowly.

Liquidity improvements usually show up first as smaller selloffs, better order-book support, and rallies that keep their gains instead of giving everything back overnight. Then flows return, spot buying becomes more consistent, and larger moves become possible.

A reasonable base case for early 2026 looks like this: funding stress eases after year-end, the Fed keeps reserve management purchases elevated, conditions stay loose, and crypto sees a slow rebuild of confidence.

In that world, Bitcoin does not need a new story every week. It needs a market structure that makes it easy for new money to enter, and hard for small pockets of selling to knock the price off a cliff.

A more bullish version layers on two things: a stronger run of ETF inflows and a visible rebound in stablecoin supply growth. That combination turns liquidity support into demand, and demand is what moves the price.

A riskier version keeps the plumbing rattling. If funding stress persists or if another macro shock tightens conditions, liquidity can vanish quickly, and Bitcoin’s beta returns in a hurry.

That is why the repo spike matters. It was a warning light that also forced the system to show its hand.

Banks reached for the Fed’s backstop in size, the Fed had already started adding reserves through bill purchases, and QT runoff had already stopped.

Those are minor details if you live entirely inside crypto.

They are big details if you believe Bitcoin is becoming a macro asset with a new kind of cycle, a liquidity cycle.

Early 2026 could be the first clean test of that idea.

If the pipes stay calm, if reserve support continues, and if flows return, Bitcoin does not need a halving narrative to do what it does best; it just needs oxygen.

Mentioned in this article

TL;DR

Vitalik Buterin frames Ethereum as a neutral base for building applications without censorship or intermediaries, detached from market trends.
Ethereum aims to break the concentration of the internet by enabling applications that remain operational without central providers and without relying on the companies that support them.
While the network advanced in scalability and zkEVMs, its price and ETFs did not follow the same trajectory.

Vitalik Buterin defined Ethereum as a tool to break dependence on centralized infrastructure. The core focus is not its price, trendy narratives, or competing for the next market theme. The objective is to build applications that operate without censorship, without intermediaries, and without the need to trust third parties.

Buterin argues that the internet has reverted to an extreme concentration model. A small number of companies control data, services, and access. Most digital products operate as permanent subscriptions that lock users into a provider. Ethereum aims to function as a neutral base that allows applications to run even if the companies that created them or the services that currently support them disappear.

The network targets applications that do not rely on centralized infrastructure, that remain active even if a provider like Cloudflare goes down, and that do not require permission to operate. Its scope is not limited to finance; it extends to digital identity, governance, and any system that requires operational continuity and resistance to censorship.

Buterin: Ethereum Must Keep Improving
In 2025, Ethereum implemented several upgrades. Gas limits were increased, blob usage expanded, node software improved, and zkEVMs reached record performance levels. The integration of zkEVMs and PeerDAS moved the network closer to a more scalable and flexible architecture. For Buterin, these advances are not enough. The network still needs to improve its capacity for mass usage and its real level of decentralization, both at the base layer and at the application layer.

However, the market did not reflect the network’s technical progress. Ethereum trades roughly 40% below its all-time high of $4,950. ETH ETFs recorded heavy outflows: $1.4 billion in November and $616 million in December.

Even so, some institutional investors continue to see an optimistic outlook for 2026. Tom Lee expects a favorable scenario if the macro environment once again supports digital assets, following the same path as gold, which is trading at record highs.

A structural contradiction remains unresolved. Banks, fintechs, and stablecoin issuers use Ethereum as infrastructure while deploying centralized models on top of a network designed to achieve the opposite. Ethereum does not choose its users. It defines the rules of the system

Journalist

Posted: January 2, 2026

The perpetual DEX wars aren’t slowing down anytime soon. 

Following the ongoing Lighter DEX FUD for allegedly partnering with perceived ‘extractive’ market makers such as Jump Trading and Hayden Davis, the architect behind the Libra memecoin scandal, Hyperliquid, has jumped on the chaos. 

In a statement, Hyperliquid founder Jeff Yan positioned the DEX as a better and “credibly neutral” option, noting that, 

“Integrity has always been one of Hyperliquid’s core values. The house of all finance must be credibly neutral. This means no private investors, no market maker deals, and no protocol fees to any company.”

Source: X

He took a swipe at those uncomfortable with Hyperliquid’s strict stance and added, 

“This principle of fairness frustrates a few users and builders who are used to special treatment.”

Unpacking the Lighter DEX FUD
The latest Lighter FUD emerged after an analyst uncovered that five undisclosed wallets received $26 million worth of Lighter [LIT] after providing liquidity worth $5 million. The analyst noted that Jump Trading received an LIT airdrop as well as part of a market-making deal. 

Kelsier Labs, the venture firm led by Hayden Davis, also received $11.52 million LIT. 

Additionally, Tron founder Justin Sun was rewarded for being an early liquidity provider. However, some of these details were not disclosed early enough to the community, according to the on-chain researcher. 

Following the revelations, Web3 researcher ZachXBT sarcastically blasted Lighter, stating that “crime pays.”

One of the community users criticized the opaque aidrop and said, 

“This is quite bad and very blatant. Who knows how many more rogue airdrop addresses there are.”

Amid the scrutiny, the Lighter team issued a statement and disclosed that they had an early arrangement with liquid providers and market makers. Even so, some users doubted this assurance as one quipped, 

“It’s funny that Vlad (Lighter founder) seems to think it’s normal to make side deals and use Lighter airdrop allocation as a settlement tool with third parties, outside the public points program.”

Source: X

Hyperliquid’s dominance falls
Meanwhile, Hyperliquid’s market share has dropped below 19% as rivals such as Lighter gained ground.

Hyperliquid’s dominance peaked in May at 75%. However, it has been in decline over the past few months, stabilizing between 19% and 20%. 

Source: Dune

On the price charts, HYPE was up about 2% and valued at $24.8 at press time, following Jeff Yan’s remarks. However, it was still stuck in the short-term price range of $23-$26. 

Clearing the overhead resistance levels at $26 and $27 could allow further recovery if the broader market sentiment improves. 

Source: HYPE/USDT, TradingView

Final Thoughts

Hyperliquid’s founder defended his position to block market makers from the platform. 
However, its market share has declined from 75% to 19% amid rising competition from Lighter and others. 

Cover image via U.Today

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

Bulls have seized the initiative after yesterday's decline, according to CoinMarketCap.

Top coins by CoinMarketCapADA/USDCardano (ADA) has gained a lot of value today, rocketing by 7.31%.

Image by TradingViewOn the hourly chart, the rate of ADA has broken the local resistance at $0.3675. If bulls can hold the gained initiative, the upward move is likely to continue to the $0.38 zone at the weekend.

Image by TradingViewOn the bigger time frame, the price of ADA is rising after yesterday's bullish closure. However, buyers might need more time to accumulate energy for a further move.

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In this case, sideways trading in the range of $0.36-$0.3750 is the more likely scenario until the end of the week.

Image by TradingViewFrom the midterm point of view, the rate of the altcoin has made a false breakout of the previous weekly candle low. If the bar closes far from that mark, there is a chance to see a bounce off to the $0.40 zone.

ADA is trading at $0.37 at press time.

Key Takeaways CVX begins output at the offshore South N'dola field, supplying about 12% of Angola's total energy output.CVX plans a second SLGC phase adding 220 MMscf per day via booster compression to maximize pipeline capacity.CVX's Angola projects include SLGC, which will raise LNG feed gas supply by 80 MMcfd in its first phase.
Chevron Corporation (CVX - Free Report) has achieved a significant milestone in its operations in Angola with the commencement of production at the South N'dola field, located in the offshore Block 0 area. This strategic development reflects the company's commitment to maximizing the potential of its existing assets, ensuring that Angola remains a key player in the global oil and energy sector.

South N'dola Field: Key Details and SignificanceThe South N'dola field, situated in Area B of Block 0, represents a critical addition to the Houston, TX-based integrated oil and gas company's portfolio in the Central African region. Although the company has yet to disclose the specific production capacity, it is understood that the field contributes significantly to Angola’s daily energy production, accounting for approximately 12% of the nation's energy output. This makes South N'dola a pivotal project in maintaining the country’s position as a leading oil and gas producer in Africa.

The development of the South N'dola field is being powered by a new production platform that is seamlessly tied back to the Mafumeira facility. Here, the oil and gas extracted from the field will be processed and subsequently transported to an export terminal. By leveraging spare capacity in the existing infrastructure, CVX has been able to bring the South N'dola field into production cost-effectively and efficiently, ensuring minimal environmental impact and maximizing returns.

Economic and Employment Impact of South N'dola's DevelopmentChevron’s South N'dola project has brought significant economic benefits to the local Angolan population. During the construction phase, the project was expected to create more than 800 local jobs, providing employment opportunities and fostering community development. As the field moves into production, it will continue to supply oil and gas to local plants, further boosting Angola's energy sector and contributing to the economic growth.

In line with its commitment to sustainability and community development, CVX has emphasized its role in enhancing local economic conditions. By providing job opportunities and integrating local businesses into the supply chain, the company is helping to foster a more self-sufficient and diversified economy in Angola.

CVX’s Operational Presence in AngolaCVX has a long-standing operational presence in Angola, managing two critical offshore tracts: Block 0 and Block 14. As the operator of Block 0, CVX holds a 39.2% stake in the development, which includes 21 fields in total. Among these, Lifua A was the first to be developed, marking the beginning of CVX's strong foothold in Angola's offshore oil and gas industry.

The company’s involvement in Angola’s energy sector is not limited to the South N'dola field. CVX recently implemented a project designed to support the Angola LNG facility and local power plants. This initiative, known as the Sanha Lean Gas Connection (“SLGC”) project, will enhance the supply of feed gas to Angola LNG, boosting production capacity by an additional 80 million cubic feet per day (MMcfd).

Future Prospects: Boosting Angola's LNG CapabilitiesCVX’s commitment to expanding Angola’s LNG capabilities is evident through its ongoing work with the Sanha Lean Gas Connection project. The first stage of this development is set to increase the feed gas supply to Angola LNG by 80 MMcfd, thereby enhancing the facility’s operational efficiency and capacity. The subsequent stage will involve the commissioning of a Booster Compression module, which will add an additional 220 million standard cubic feet per day, further optimizing the pipeline’s full capacity of 600 MMscf per day.

Through these initiatives, CVX is helping to position Angola as a leading player in the global LNG market, ensuring that the country has the infrastructure in place to meet increasing demand for natural gas in both domestic and international markets.

CVX’s Strategic Role in Angola’s Energy FutureChevron’s work in Angola is a testament to its ability to drive growth and efficiency in the energy sector. By utilizing existing infrastructure, the company has been able to bring the South N'dola field into production with minimal additional investment, highlighting its strategic approach to resource management. The company's ongoing projects, including the SLGC and the role in Angola LNG, further demonstrate its commitment to sustainable energy development in the region.

Looking ahead, CVX’s continued presence in Angola will play a critical role in shaping the country’s energy future. With major investments in both oil and natural gas projects, CVX is well-positioned to drive the development of Angola’s energy infrastructure, ensuring that the country remains a key player in the global energy landscape for years to come.

ConclusionThe commencement of production at the South N'dola field marks a key achievement for CVX and for Angola's offshore energy industry. By efficiently utilizing existing infrastructure and creating local jobs, CVX has demonstrated its commitment to both the economic development of Angola and the global energy market. With ongoing investments in both oil and LNG projects, CVX is poised to play a central role in the continued growth and diversification of Angola’s energy sector.

CVX's Zacks Rank & Key PicksCurrently, CVX has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like USA Compression Partners (USAC - Free Report) , Oceaneering International (OII - Free Report) and Suncor Energy (SU - Free Report) , sporting a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

USA Compression Partners is valued at $2.83 billion. The company is a leading provider of natural gas compression services in the United States. USA Compression Partners specializes in the design, operation and maintenance of compression equipment for the energy sector, focusing on helping customers optimize their natural gas infrastructure.

Oceaneering International is valued at $2.43 billion. The company is a global provider of engineered services and products to the offshore energy, aerospace and defense industries. OII specializes in underwater robotics, remotely operated vehicles and subsea engineering solutions for offshore oil and gas exploration and production.

Suncor Energy is valued at $53.32 billion. It is a major Canadian integrated energy company headquartered in Calgary, Alberta, that specializes in the production of synthetic crude from the Athabasca oil sands. Suncor Energy manages a diverse portfolio that includes offshore oil and gas production, petroleum refining across North America, and a large retail network under the Petro-Canada brand.

This oft-overlooked cruise line operator has been crushing the competition.

The new year has just begun, and I'm starting a new investing journey on this first trading day of 2026. All year long, I'm planning to look at stocks that have escaped many investors' attention, both on Wall Street and here in the Motley Fool universe of stock recommendation services. My first stock for what I'm calling my Voyager Portfolio is Royal Caribbean Cruises (RCL +1.02%), as the cruise-line operator has impressed me with its comeback after many investors left it and its industry peers for dead during the early stages of the COVID-19 pandemic.

Articles in the coming days will drill down on Royal Caribbean's financial condition and its future prospects as a growth stock. Here, though, let's get better acquainted with the cruise industry and Royal Caribbean's part in it.

Image source: Getty Images.

Royal Caribbean and its opportunity in the cruise industry
Travelers worldwide have historically made cruise ships a popular way to see the sights . With cruise ships offering a wide array of dining and entertainment options on their way to appealing onshore destinations, many travelers enjoy the all-inclusive nature of cruise travel. In 2019, nearly 30 million passengers globally booked passage on cruise ships across the industry, according to figures from the Cruise Lines International Association (CLIA).

The pandemic caused the suspension of commercial cruise operations across the globe. CLIA estimates put the economic damage in just the first six months of the pandemic at $77 billion, including $23 billion in lost wages and over half a million jobs lost. In the U.S., passenger counts bottomed out in 2021 at 2.17 million, down nearly 85% from the 14.2 million American passengers that boarded cruise ships two years earlier.

However, despite immense hardship both financially and operationally, many cruise ship operators were able to obtain the financing they needed to get through tough times and survive until national governments lifted pandemic-era restrictions on travel. By 2023, the number of cruise passengers had surpassed pre-pandemic numbers, and the most recent statistics indicate nearly 35 million people took a cruise in 2024. Of those, 20.5 million launched from North American ports, showing the importance of having a significant base of operations that includes destinations across the U.S., Canada, Mexico, Central America, and the Caribbean.

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How Royal Caribbean has become a leader among cruise stocks
Royal Caribbean stands out among its peers as one of the most successful cruise operations in the world. The company owns and operates three global brands: Celebrity Cruises, Silversea Cruises, and its namesake Royal Caribbean. The company also has a one-half interest in its TUI Cruises joint venture, which operates TUI and Hapag-Lloyd Cruises out of Germany. All combined, Royal Caribbean and TUI had a combined fleet of 68 ships as of the company's most recent annual report, with spots for nearly 167,000 passengers.

Royal Caribbean's voyages typically run from three to 14 nights, while its Celebrity and Silversea brands sometimes offer extended itineraries that can nearly double that length. You'll find top destinations on Royal Caribbean's schedule, including the Caribbean, Alaska, Canada, Europe, and the Asia-Pacific rim. The company serves more than 1,000 ports on all seven continents, with the Silversea line offering an expedition approach that includes exotic itineraries such as Antarctica and the Arctic Ocean.

In the aftermath of the pandemic, Royal Caribbean has redefined its customer strategy. The company still hopes to woo travelers to come back for repeat voyages through a wide range of incentives that are common in the hospitality industry. However, the importance of health and safety has risen dramatically, particularly in light of the highly publicized COVID-19 outbreak on the Diamond Princess cruise ship early in 2020.

Setting the stage for strong stock gains
It's easy to understand how Royal Caribbean's history set it up for a dramatic uptick as the pandemic ran its course. However, that story alone doesn't explain the cruise operator's gain of over 280% in the past five years. For that, the next article in this three-part series on Royal Caribbean will focus on the company's financial statements and how it managed to weather one of the worst periods in the industry's history.

CANADA - 2025/08/08: In this photo illustration, a Fortinet logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

Currently priced at approximately $79.41 per share, Fortinet (FTNT) is trading around 31% below its 52-week high.

Do you believe FTNT stock is a strong long-term investment at these levels? What if it were available at a 30% discount for roughly $55 per share? If you consider that an excellent opportunity and have some cash available, here’s a trade idea.

8.3% annualized yield at a 30% margin of safety by selling Put Options.

Sell a long-dated Put option that expires on 12/18/2026, with a strike price of $55.Receive approximately $230 in premiums for each contract (each contract represents 100 shares).This corresponds to about a 4.3% annualized yield on the $5,500 you set aside for the chance to buy the stock.This cash, if held in a savings or money market account, will earn an additional 4.0%, bringing the total yield to 8.3%.Additionally, you position yourself to acquire FTNT stock at a significantly discounted price of $55.
However, this is not the only stock trading strategy available. Trefis High Quality Portfolio provides a sophisticated framework to lower stock-specific risk while still offering upside potential.

Possible Trade Outcomes: You Win Either WayPossible Trade Outcomes

Trefis

To confidently hold this trade, you want to see long-term potential in the stock. Because if the situation arises, you want to be eager about acquiring the stock at a low price.

First, you need to ensure the fundamentals are sound. For more information, see Buy or Sell FTNT Stock or take a look at Fortinet Investment Highlights.

Secondly, you should gain a better understanding of the competitive advantage and the industry trends. Below are the specific factors that provide us with conviction.

Why Hold FTNT Stock Long-TermFortinet’s substantial economic moat is shown by its high switching costs, its integrated security platform, and its strong foothold among enterprise clients. The company leads a market that benefits from strong secular trends, including the rapid growth of cloud computing, AI, and IoT devices, which are broadening the cybersecurity attack surface. The projected double-digit CAGR for the industry provides a long path for growth. A solid balance sheet and consistent generation of free cash flow affirm it as a financially robust company that we would be comfortable holding for the long term if assigned.

Competitive AdvantageWe categorize FTNT’s economic moat as WIDE, primarily due to Switching Costs.

Fortinet’s comprehensive ‘Security Fabric’ platform, which has over 400 integrations, creates significant ecosystem lock-in, making it complicated and costly for customers to switch.The company reported a Net Revenue Retention (NRR) rate of 112%, showing that existing customers are increasing their spending, a strong indicator of satisfaction and low churn.Fortinet has effectively executed price increases to counter macroeconomic challenges, demonstrating pricing power without significant customer loss.The company ranks #1 in firewall shipments by unit and is trusted by 89% of Fortune 500 companies, showcasing a reliable market position.Refer to Fortinet Full Analysis.

Industry TailwindThe industry tailwind is STRONG, with a CAGR projection of 11.9% (Grand View Research).

Secular Trend: Digital Transformation (Cloud, AI, IoT)Key Risks: Intense competition from other major cybersecurity firms and the fast pace of technological change, demanding continual innovation.Financial GuardrailsCash Generation: Positive Free Cash FlowBalance Sheet: The company boasts a solid net cash position, with cash and short-term investments surpassing total debt, indicating a very low risk of bankruptcy. Look at Fortinet’s key financials. Not comfortable with options or stock-specific trades? PORTFOLIOS are an even more suitable option.

The Right Way To Invest Is Through PortfoliosStocks can experience rapid fluctuations, but long-term success is achieved by remaining invested. The right portfolio allows you to capitalize on gains while mitigating losses from individual stocks.

The Trefis High Quality (HQ) Portfolio, comprising 30 stocks, has consistently outperformed its benchmark, which includes all three indices – the S&P 500, S&P mid-cap, and Russell 2000. Why is that? As a group, HQ Portfolio stocks have yielded better returns with less risk compared to the benchmark index; avoiding the roller-coaster experience, as demonstrated by HQ Portfolio performance metrics.

Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Klarna (KLAR) To Contact Him Directly To Discuss Their Options

If you purchased or acquired Klarna’s common stock IPO traceable to September 10, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Forunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, Jan. 02, 2026 (GLOBE NEWSWIRE) --

What’s Happening:

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Klarna Group plc (“Klarna” or the “Company”) (NYSE:KLAR) in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased or otherwise acquired Klarna’s common stock IPO traceable to September 10, 2025.Investors have until February 20, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Allegation Details:

According to the lawsuit, the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) Defendants materially understated the risk that its loss reserves would materially go up within a few months of the IPO, which they either knew of or should have known of given the risk profile of many individuals agreeing to Klarnas buy now, pay later (BNPL) loans; and (2); as a result, defendants public statements were materially false and misleading at all relevant times and negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages. Klarna launched its IPO in September 2025, selling 34,311,274 shares priced at $40.00 per share. On November 18, 2025, Klarna announced its Q3 2025 financial results. The disappointing results revealed a staggering increase in the provision for credit losses. On this news, the price of Klarna shares declined by $3.25 per share, or approximately 9.3%, from $34.88 per share on November 17, 2025 to close at $31.63 on November 18, 2025. Next Steps:

If you purchased or otherwise acquired Klarna shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes.

Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

LOS ANGELES, Jan. 02, 2026 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies.  Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to [email protected].

Integer Holdings Corporation (NYSE: ITGR)
Class Period: July 25, 2024 – October 22, 2025
Lead Plaintiff Deadline: February 9, 2026

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Integer materially overstated its competitive position within the growing EP manufacturing market; (2) despite Integer’s claims of strong visibility into customer demand, the Company was experiencing a sustained deterioration in sales relating to two of its EP devices; (3) in turn, Integer mischaracterized its EP devices as a long-term growth driver for the Company’s C&V segment; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are an Integer shareholder who suffered a loss, click here to participate.

F5, Inc. (NASDAQ: FFIV)
Class Period: October 28, 2024 – October 27, 2025
Lead Plaintiff Deadline: February 17, 2026

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) F5 was the subject of a significant security incident, placing its clientele’s security and the Company’s future prospects at significant risk; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are a F5 shareholder who suffered a loss, click here to participate.

SLM Corporation a/k/a Sallie Mae (NASDAQ: SLM)
Class Period: July 25, 2025 – August 14, 2025
Lead Plaintiff Deadline: February 17, 2026

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) SLM was experiencing a significant increase in early stage delinquencies; (2) accordingly, Defendants overstated the effectiveness of SLM’s loss mitigation and/or loan modification programs, as well as the overall stability of the Company’s PEL delinquency rates; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are a SLM Corporation shareholder who suffered a loss, click here to participate.

Klarna Group plc (NYSE: KLAR)
Class Period: September 7, 2025 – December 22, 2025
Lead Plaintiff Deadline: February 20, 2026

The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants materially understated the risk that its loss reserves would materially go up within a few months of the IPO, which they either knew of or should have known of given the risk profile of many individuals agreeing to Klarnas buy now, pay later (BNPL) loans; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are a Klarna shareholder who suffered a loss, click here to participate.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com.   If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com

Key Takeaways UBER is reportedly in talks to acquire parking app SpotHero, expanding its service offerings.
SpotHero would let UBER offer reserved parking in 400 North American cities.
UBER continues diversifying with deals like ALDI on Uber Eats and last year's Dantaxi acquisition.
Per The Information, as cited in a SiliconANGLE report, Uber Technologies (UBER - Free Report) is in talks to acquire parking startup SpotHero.  The purchase price is yet to be disclosed. In the event of the acquisition of the parking app materializing, Uber will be able to offer drivers reserved parking.

SpotHero offers an app that enables users to reserve parking spaces in more than 400 North American cities. SpotHero, founded in 2011, is currently valued at around $290 million. In the event of Uber’s SpotHero acquisition materializing, the former will be expanding its revenue stream beyond ride-hailing.

Even though Uber’s primary business is ridesharing, it has diversified into food delivery and freight over time. Diversification is imperative for big companies to reduce risks. UBER has excelled in this area. The company is looking to strengthen its Uber Eats platform and has inked multiple deals recently on that front. 

Earlier, Uber announced a nationwide partnership with ALDI, America’s fastest-growing grocer. Following the deal, ALDI’s much sought-after selection of fresh and affordable products will be available on Uber Eats. With more than 2,500 ALDI stores joining the platform, customers can have groceries delivered directly to their doorstep either on demand or through scheduled orders with just a tap. Uber’s acquisition of Dantaxi last year has created the leading mobility platform in Denmark.

Price Performance, Valuation and EstimatesShares of UBER have gained 26.5%  in a year compared with the Zacks Internet-Services industry’s 58.9% growth in the same timeframe. Uber’s shares have also lagged those of rival Lyft (LYFT - Free Report) and fellow industry operator DoorDash (DASH - Free Report) .

1-Year Price ComparisonImage Source: Zacks Investment Research

From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.82X. UBER is inexpensive compared with its industry and DoorDash. Lyft’s shares are cheaper. Uber, Lyft and DoorDash have a Value Score of C, B and F, respectively.

UBER’s P/S F12M Versus Industry, LYFT & DASHImage Source: Zacks Investment Research

The Zacks Consensus Estimate for UBER’s fourth-quarter 2025, first-quarter 2026, full-year 2025 and 2026 earnings have moved north over the past 60 days.

Image Source: Zacks Investment Research

UBER's Zacks RankUBER currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ChowChow Cloud International Holdings Limited (AMEX:CHOW) shares are trading higher Friday after the company reported a year-over-year increase in H1 2025 revenue and net income.

What To Know: The company reported first-half 2025 revenue of HK$178.2 million, up 81.3% from HK$98.3 million in the same period last year. ChowChow said the increase was primarily driven by cloud CDN services and server farm projects secured from three new customers, which together contributed approximately HK$83.5 million, or about 46.9% of total revenue for the period.

Cost of revenues rose 81.9% year over year to HK$156.2 million. Gross profit increased to HK$22.0 million from HK$12.4 million, while gross margin remained relatively stable at 12.3%, compared with 12.6% a year earlier, which the company attributed to cost control measures.

Net income for the first half of 2025 totaled HK$12.5 million, up 80% from HK$6.9 million in the prior-year period.

ChowChow reported cash and cash equivalents of approximately HK$11.9 million as of June 30, 2025, up from HK$10.5 million at the end of 2024. The company said it financed operations primarily through cash generated from operating activities and believes its current liquidity position is sufficient to meet capital requirements for at least the next 12 months.

Related Link: Alphabet Went From AI Victim To AI Leader In 12 Months: Can Google’s Strategy Topple ChatGPT?

CHOW Price Action: At the time of writing, ChowChow shares are trading 32% higher at 86 cents, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Smart Eye showcases its CES 2026 Innovation Awards® Honoree, along with new technologies that deepen vehicle understanding of drivers and occupants while making advanced sensing easier to integrate.

GÖTEBORG, SE / ACCESS Newswire / January 2, 2026 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9), the global leader in Driver Monitoring Systems (DMS) and Interior Sensing AI, returns to CES 2026 with a lineup that shows how in-cabin intelligence is progressing from isolated features to a more connected approach to understanding what happens inside the vehicle. The demonstrations combine new breakthroughs in understanding driver and occupant behavior with integration approaches designed to fit naturally into modern cockpit and electronic architectures.

At the center of the showcase is Smart Eye's real-time alcohol impairment detection, named a CES 2026 Innovation Awards® Honoree. Built on real-world driving data, the feature identifies behavioral indicators of impaired driving without requiring new hardware or intrusive sensors. Already shipping to customers through Smart Eye's AIS system, it offers a practical path for OEMs preparing for evolving global safety requirements, while keeping the sensing footprint small and unobtrusive.

Beyond impairment detection, Smart Eye will present demonstrations that bring deeper behavioral understanding and clean integration together in the cabin. Visitors will experience:

➤ Sheila, the Empathetic In-Cabin Co-Driver
A context-aware AI assistant that adjusts tone, behavior, and responses based on driver state, interaction cues, and in-cabin context.

➤ Bank-level Iris Authentication
Camera-based identification that enables secure access, personalization, and protected digital services.

➤ Under-Display Camera Integrations
Fully hidden DMS integrations behind the instrument cluster display, offering ideal imaging geometry with no visible hardware.

➤ AIS Driver Support System
A compact, compliance-ready system for small-volume OEMs and fleets.

➤ AI ONE
A compact, all-in-one DMS unit engineered for low compute load, fast integration, and seamless fit within the cabin, including placement inside the rear-view mirror.

➤ Concept Development Kits (CDKs)
Evaluation kits that help OEMs and Tier 1s test DMS and Interior Sensing capabilities early in development and on existing platforms.

Together, these demonstrations show how more precise understanding of driver and occupant behavior can be built into solutions that are practical to package, scale, and bring into production.

Smart Eye technologies will also be featured in demonstrations across several partner booths at CES 2026, including Green Hills Software, Renesas, and Alps Alpine.

"OEMs need systems that understand what's happening inside the vehicle, but also fit into real platforms without adding friction," said Martin Krantz, Founder and CEO of Smart Eye. "This year's CES lineup brings those elements together. Each demo shows how deeper in-cabin insight can be achieved without introducing new integration challenges for OEMs."

Smart Eye will showcase its full CES 2026 lineup January 6-9 at the Las Vegas Convention Center's West Hall, booth #3327.
Meeting requests can be scheduled at https://www.smarteye.se/ces-2026/#book-an-appointment.

For more information, visit https://www.smarteye.ai/ces-2026.

Attachments

Smart Eye Brings Breakthrough Impairment Detection and Advanced In-Cabin Intelligence to CES 2026

SOURCE: Smart Eye

Key Takeaways Ciena ended fiscal 2025 with $1.4B cash and returned about $330M via buybacks under its $1B authorization.CIEN generated $806M in operating cash and $665M in free cash flow in fiscal 2026.Ciena expects fiscal 2026 revenues to be $5.7-$6.1B on AI-driven demand.
Ciena Corporation ((CIEN - Free Report) ) exited fiscal 2025 with a strong cash balance and cash flow generation. CIEN finished the fiscal year with $1.4 billion in cash, bolstered by $806 million in cash from operations and $665 million in free cash flow for the year after spending $140 million in capital expenditures.

This strong cash generation enabled a meaningful return of capital as Ciena completed the first year of its current $1 billion share repurchase authorization, buying back $330 million worth of shares. Management expects to repurchase approximately the same amount in fiscal 2026, signaling confidence in both cash generation and future earnings capacity.

Ciena is benefiting from higher network traffic and demand for bandwidth, primarily attributed to the increasing use of AI technology in various applications. Given the sustained demand driven by cloud expansion, data center interconnect (“DCI”) and the explosive growth of AI infrastructure, Ciena updated its fiscal 2026 outlook. It now expects fiscal 2026 revenues of $5.7-$6.1 billion, or roughly 24% growth at the midpoint, up from the 17% outlook shared in September.

Increasing revenues are likely to aid Ciena in generating strong cash flows, which is likely to aid in sustaining buybacks and accelerate investment to boost growth. The company is focusing on research and development on Coherent Optical Systems, Interconnects, Coherent Routing, and solutions like DCOM, while scaling back investments in residential broadband.

It also recently announced the acquisition of Nubis Communications (which specializes in electrical and optical interconnect solutions) to complement organic growth. Management expects higher capital expenditures (between $250 million and $275 million) in fiscal 2026 to support anticipated demand in late 2026 and into 2027, as well as investments tied to 3-nanometer mask sets.

Capital Allocation Strategy of CompetitorsCisco ((CSCO - Free Report) ) offers identity and access, advanced threat and unified threat management solutions. The company benefits from an expanding security product portfolio and the Splunk acquisition. Steady demand for Cisco’s products in developing AI infrastructure has been a robust catalyst. In the first quarter of fiscal 2026, AI Infrastructure orders from hyperscaler customers stood at $1.3 billion.

As of Oct. 25, 2025, Cisco’s cash & cash equivalents and investments balance were $15.7 billion against long-term debt of $21.4 billion. In the first quarter of fiscal 2026, CSCO returned $3.6 billion to its stockholders through share buybacks ($2 billion) and dividends ($1.6 billion).

Arista Networks ((ANET - Free Report) ) offers cloud networking solutions for data centers and cloud computing environments. The company recently unveiled several solutions for cloud, Internet service providers and enterprise networks to meet the rising demands of AI/ML-driven network architectures. Revenues in the third quarter of 2025 surged to $2.31 billion from $1.81 billion in the prior-year quarter in the last reported quarter.

ANET announced a $1.5 billion buyback program in May 2025. As of Sept. 30, 2025, the company had $1.4 billion worth of shares available for repurchase under the buyback program. As of Sept. 30, 2025, the company had $2.33 billion in cash and cash equivalents and $309.6 million in other long-term liabilities. In the first nine months of 2025, Arista generated $3.11 billion of net cash from operating activities compared with $2.68 billion in the year-ago period.

CIEN Price Performance, Valuation and EstimatesShares of CIEN have gained 21% in the past month compared with the Communications - Components industry’s growth of 10.1%.

Image Source: Zacks Investment Research

CIEN trades at a forward 12-month price-to-earnings (P/E) ratio of 43.23, below the industry’s 47.27.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for CIEN earnings for fiscal 2026 has been revised upwards over the past 60 days.

Image Source: Zacks Investment Research

CIEN currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Takeaways BR's growth is driven by SaaS BPO services, recurring fees, new businesses and acquisitions.BR is driving democratization and tokenization, boosting demand for U.S. equities and collateral utility.BR's earnings are projected to rise 9.8% y/y in fiscal 2026 and 8.8% in 2027 on steady revenue growth.
Broadridge Financial Solutions’ (BR - Free Report) growth is fueled by its well-executed growth strategy, democratization of securities, innovations and acquisitions. Ongoing dividend payouts consistently enhance shareholder value and reinforce investor confidence.

The company’s fiscal 2026 and 2027 earnings are expected to rise 9.8% and 8.8%, respectively. Revenues are anticipated to grow 5.4% in fiscal 2026 and 4.4% in 2027.

Factors That Bode Well for BRBR’s revenue growth is driven by its SaaS-based BPO services, leveraging networks, data and digital capabilities. Robust recurring fees, closing in new business, internal expansion and acquisition-related benefits enable the company to gain more market share.

Broadridge continues to drive democratization and digitization in the governance business to boost demand for U.S. equities, banking on its shareholder rights protection characteristics. Its strategy to propel tokenization across multiple asset classes delivers real value to clients, facilitating capital formation and enhancing investors’ ability to use assets as collateral.

The company’s top line is being driven by its growth strategy. BR utilizes advanced technology to enhance digital communications and printing, and mail services in the governance front. It also augments platform capabilities and the use of next-generation solutions to improve capital market offerings.

Broadridgehas developed a comprehensive wealth management platform, enabling clients with robust systems and data integration capabilities across its wealth management front offerings.

BR is also investing in acquisitions to accelerate its product set and development, both domestically and internationally. In September 2025, the company acquired iJoin — a retirement plan technology provider specializing in participant onboarding, engagement and analytics solutions — to strengthen its workplace and retirement solutions business. The acquisition of Signal in 2025 — a digital client communications provider — strengthens its global relationships with key financial services firms in the U.K.

Broadridgeconsistently rewards its shareholders through dividend payments. In fiscal 2022, 2023, 2024 and 2025, the company paid out $290.7 million, $331 million, $368.2 million and $402.3 million in dividends, respectively. Such moves boost shareholder value and instill investor confidence.

Key Risk FactorBR had a current ratio of 0.93, lower than the industry's average of 1.95 in the last quarter. A current ratio below 1 often suggests that a company may not be well-positioned to meet its short-term obligations.

Zacks Rank & Stocks to ConsiderBR currently carries a Zacks Rank #3 (Hold).

A couple of better-ranked stocksin the industry are PagerDuty (PD - Free Report)  and MongoDB (MDB - Free Report) .

PagerDuty currently sports a Zacks Rank #1 (Strong Buy). PD has a long-term earnings growth expectation of 11.9%. The company delivered an average trailing four-quarter earnings surprise of 37.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.

MongoDB also flaunts a Zacks Rank of 1 at present, with a long-term earnings growth expectation of 22%. MDB delivered a trailing four-quarter earnings surprise of 69.3% on average.

Key Takeaways MD shares rose 55.2% in six months, outperforming the industry's 6.7% gain on improving fundamentals.Pediatrix Medical is seeing higher same-unit revenue from better payer mix, collections and patient acuity.MD generated $138.1M in Q3 operating cash flow, up sharply from $95.7M a year earlier.
Pediatrix Medical Group, Inc. (MD - Free Report) is well-poised for growth, driven by higher collection activity, improved patient acuity, an increase in contract administrative fees, a favorable payor mix and strategic acquisitions. Over the past six months, shares of MD have jumped 55.2%, outperforming the industry’s 6.7% rise.

Pediatrix Medical — with a market capitalization of $1.8 billion — provides newborn, maternal-fetal, radiology, pediatric cardiology and other pediatric subspecialties physician services. Its forward P/E of 10.35X is lower than the industry average of 17.93X. The company has a Value Score of B.

Courtesy of solid prospects, MD currently sports a Zacks Rank #1 (Strong Buy).

Where Do Estimates for MD Stand?The Zacks Consensus Estimate for Pediatrix Medical’s 2025 earnings is pegged at $2.07 per share, indicating a 37.1% year-over-year rise. In the past 60 days, it has witnessed five upward estimate revisions against none in the opposite direction. Furthermore, the consensus mark for revenues is pegged at $1.9 billion for 2025. MD beat earnings estimates in each of the past four quarters, with an average surprise of 35.4%.

MD’s Growth DriversPediatrix Medical is benefiting from higher same-unit revenues and growth in same-unit pricing supported by improved payer mix, solid RCM cash collections, increased patient acuity and neonatology and higher administrative fees from hospital contracts.

In the third quarter of 2025, same-unit revenues from net reimbursement-related factors increased 7.6% year over year. MD increased its expectation for adjusted EBITDA guidance to a range of $270-$290 million for 2025 from the prior band of $245 million to $255 million. Pediatrix Medical’s total operating expenses declined 11% year over year in the third quarter of 2025. Our model suggests that this metric could decline by nearly 19.5% year over year in 2025, supported by lower practice salaries and benefits, as well as practice supplies and other operating expenses.

Pediatrix Medical is expanding telehealth services in a bid to ensure access to healthcare even when staying at home. Such services lead to a decline in overall healthcare spending, boost access to quality care and bring about improved patient outcomes. It intends to enhance technological support as a means to support clinicians and strengthen its competitive position in high-acuity care.

The company is actively exploring M&A opportunities in core service lines to drive inorganic growth. In September 2025, it acquired several neonatology, maternal-fetal medicine and OB hospitalist practices for a total consideration of $19.2 million. MD also streamlines its portfolio by divesting low-profit, non-core assets to sharpen its focus on core services.

Net cash generated from operations totaled $138.1 million in the third quarter of 2025, up from $95.7 million a year ago. In August 2025, the company authorized a new $250 million share repurchase program. In the third quarter of 2025, it bought back common shares worth $20.9 million under this program.

MD’s Key RisksThere are some factors, however, that investors should keep a careful eye on.

It has been grappling with a significant debt level over the past several years. As of Sept. 30, 2025, the company had a net debt of $602.5 million, which was significantly higher than its cash balance of $340.1 million. This is likely to put pressure on MD’s interest expenses. Its total debt-to-EBITDA of 8.1% remains well above the industry average of 2.4%, limiting financial flexibility.

Other Stocks to ConsiderSome other top-ranked stocks in the Medical space are Collegium Pharmaceutical, Inc. (COLL - Free Report) , ANI Pharmaceuticals, Inc. (ANIP - Free Report) and CorMedix Inc. (CRMD - Free Report) , each currently sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Collegium Pharmaceutical’s current-year earnings of $7.55 per share has witnessed three upward revisions in the past 60 days against no movement in the opposite direction. Collegium Pharmaceutical beat earnings estimates in each of the trailing four quarters, with the average surprise being 10.6%. The consensus estimate for current-year revenues is pegged at $783.9 million, suggesting 24.2% year-over-year growth.

The Zacks Consensus Estimate for ANI Pharmaceuticals’ current-year earnings of $7.56 per share has witnessed five upward revisions in the past 60 days, against no movement in the opposite direction. ANI Pharmaceuticals beat earnings estimates in each of the trailing four quarters, with the average surprise being 21.2%. The consensus estimate for current-year revenues is pegged at $870.2 million, suggesting 41.6% year-over-year growth.

The Zacks Consensus Estimate for CorMedix’s current-year earnings of $2.87 per share has witnessed three upward revisions in the past 60 days, against no movement in the opposite direction. CorMedix beat earnings estimates in each of the trailing four quarters, with an average surprise of 27%. The consensus estimate for current-year revenues is pegged at $309.8 million, suggesting 612.7% year-over-year growth.

Gold’s stratospheric rise, the best percentage gain since 1979, surprised even the most bullish metal mavens as Wall Street firms chased the run-up. The precious metal, which sat at $2,606 in December 2024, rallied over 66% in 2025, settling around the $4,325 level at year-end.

Looking ahead, firms, including Bank of America, see the yellow metal reaching $5,000 an ounce due to continued central bank buying, rising deficits tied to U.S. fiscal policy and a weaker U.S. dollar which had its worst year since 2017. The Wall Street Journal Dollar Index fell over 6%, as tracked by Dow Jones Market Data Group. 

BofA Gold forecast 2026: $5,000 "It's still underinvested, I think at the at the moment. And gold markets don't normally come to an end because their overbought, gold markets come to and because the underlying motives that actually started the bull market have subsided and that honestly we don't see. I think everything that I outlined before and what made us bullish, I think is still very much in place now," said Bank of America strategist Michael Widner during a metals roundtable hosted in mid-December.

'PAWN STARS' HOST WEIGHS IN ON RECORD YEAR FOR GOLD, SILVER

Gold prices hit record highs in 2025. (iStock / iStock)

While BofA's gold price target bakes in around a 14% advance from current levels, "a hawkish tilt by the Fed is a risk," Widner wrote.

ELON MUSK SOUNDS ALARM ON SILVER'S WINNING STREAK

Silver prices soared over 142% in 2025. (Getty Images / Getty Images)

In addition to gold, silver saw its own record year with a gain of more than 142% while copper advanced over 41%, the largest one-year net and percentage gain since 2009.

PRECIOUS METALS 2025 Gold +66%

Silver +142%

Copper +41%

Exchange-traded funds tied to precious metals including the SPDR Gold Trust, the iShares Silver Trust and the United States Copper Fund, all saw gains that mirrored the metals in 2025. 

Ticker Security Last Change Change % GLD SPDR GOLD SHARES TRUST - USD ACC 399.02 +0.45
+0.11%
SLV ISHARES SILVER TRUST - USD ACC 65.67 +1.25
+1.95%
CPER UNITED STS COMMODITY INDEX FD COM UNIT REPSTG U S COPPER 33.60 +0.34
+1.02%
MacroMavens president Stephanie Pomboy, even admittedly surprised by the pace of the rally in precious metals, sees more ahead this year.

Copper cable at the Parus Electro LLC production site in Moscow, Russia. (Andrey Rudakov/Bloomberg / Getty Images)

"I guess I am surprised at the speed at which we got to these numbers, although I think there is so much more to come," Pomboy told FOX Business’ Charles Payne. "The rationale as to why I wanted people to go long hard assets over paper has barely started to fall into place and that rationale primarily was my forecast that we would see a resumption of QE (quantitative easing) and we did. I know they (the Federal Reserve) are not calling it QE, non-QE or QE light or whatever. They are dipping their toe in the water, and I think what’s going to happen as we turn the page to 2026 is that the balance sheet will become the main source of monetary stimulus," "The balance sheet expansion is outright monetary debasement and there’s nothing better for precious metals than that" she added.

MORTGAGE RATES HIT 2025 LOWS AT YEAR-END

Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on December 10, 2025 in Washington, DC.  (Getty Images)

FED CUTS INTEREST RATES FOR THIRD STRAIGHT TIME

The Federal Reserve cut interest rates a quarter point in December, the third consecutive cut in 2025. Officials also signaled the resumption of treasury buying.

"As detailed in a statement released today by the Federal Reserve Bank of New York, reserve management purchases will amount to $40 billion in the first month and may remain elevated for a few months to alleviate expected near-term pressures in money markets.  Thereafter, we expect the size of reserve management purchases to decline, though the actual pace will depend on market conditions," Chairman Powell reviewed in his December press conference.

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