Track market-moving stories before they get noisy

TL;DRCrypto traders lost $342.25 million to liquidations in 24 hours, with 83,198 positions closed; longs accounted for $220.44 million (64.4%).

Bitcoin fell below $80,000 to $79,988 after the Fed held rates at 3.75–4%; December hike odds jumped to 83%. XRP dropped 2.79% to $1.287, while ETH/BTC hit a multi-month low of 0.02899.

ICE (NYSE owner) invested in trade[XYZ] to launch CFTC-regulated 24/7 perpetual futures built on Hyperliquid; HYPE rose 9.14% to $87.39.

HOT Stories

Levels to watch: $79,080 support, with $146 million in BTC longs at risk, and $87,091, with $131 million in short liquidations.

Thursday morning, October 29, welcomes crypto market participants with a streak of red numbers on trading screens. Bitcoin is trading at $79,988.02 (-1.53%), Ethereum against BTC is holding at 0.02899 (-0.07%), while XRP is sagging to $1.28722 (-2.79%). The wave of spot sales overlaps with the recent Fed decision to keep the key rate in the range of 3.75–4% per annum, which instantly set automatic stop orders in motion.

Cryptocurrency market dominance heatmap with BTC at $80,078.65 and 60.05% dominance on October 29, 2026, Source: CoinMarketCapThe local price correction over the past 24 hours harshly cleared derivatives platforms of excessive "leverage," but large funds are using this moment for a systematic expansion of positions. While margin players are locking in losses, the owners of the NYSE are deploying regulated clearing infrastructure in the U.S., and Strategy is tokenizing dividends.

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Forced sales of longs created a short-term dip in exchange order books, which large funds such as ICE, MicroStrategy, and Bitwise are using to quickly buy up supply. The total crypto market capitalization stands at $2.77 trillion, while daily spot trading volume rose by 7.59%, reaching $33.30 billion. 

The decline of the derivatives market is accompanied by continuous spot buying and capital inflows into ETFs.

Bitcoin and XRP let buyers down. Who lost the most in the morning sell-offThe fall in quotes over the past 24 hours activated a cascade of stop orders and closed the positions of 83,198 traders who believed too much in a pullback-free uptrend and decided to play big, leaving their hopes for a rally in the exchange order books. The total volume of margin liquidations on derivatives exchanges over the day amounted to $342.25 million as per Coinglass. 

Forcibly closed long positions (longs) accounted for $220.44 million (64.4% of the market), while short sellers got off with a light scare and a loss of only $121.81 million (35.6%), merely watching the fall from the sidelines.

Cryptocurrency liquidation heatmap led by BTC at $72.66 million and ETH at $71.73 million on October 29, 2026, Source: CoinglassThe main disappointment for the bulls was Bitcoin: trading terminals liquidated orders of optimistic buyers of the first cryptocurrency for $72.66 million, of which $53.36 million fell precisely on longs. After the Fed meeting and the opening of the Asian sessions, digital gold demonstratively broke through the $80,000 level, settling at $79,988.02. 

The BTC dominance index holds at 60.05%, and an additional trip-up for risk assets came from Samsung shares, which fell by more than 5% due to weak quarterly results.

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Ethereum lost $71.73 million ($39.84 million in longs), and its quotes against the first cryptocurrency fell to 0.02899, updating a multi-month low and once again leaving altseason fans disappointed, with their unrealistic hopes for an imminent altseason. 

The rout also affected XRP, where traders' daily losses amounted to $5.41 million, and quotes on the Bitstamp exchange sank to $1.28722. Price declines were also recorded in the pairs of Solana ($11.15 million in liquidations, price $100.33) and Horizen ($7.77 million).

The Binance exchange once again took the main hit, methodically processing 46.9% of all forced closures. This platform also executed the largest single derivatives order of the day — the liquidation of a long in the ETH/USDT pair worth $6.53 million, which the market maker closed in one move.

Institutional buying amid the noise of liquidations. The main points from morning reportsThe macroeconomic background continues to put pressure on the crypto market: the Fed kept the key rate at 3.75–4%, but showed caution regarding inflation. Two FOMC members — Lisa Cook and Beth Hammack — openly advocated a rate hike, and Bank of America (BofA) forecasts new tightening in December 2026 and March 2027. The probability of a rate hike in December soared to 83% versus 49% a month ago.

At the same time, the trade[XYZ] platform and ICE Corporation (owner of the NYSE) announced a strategic partnership to launch regulated 24/7 perpetual futures in the U.S. The project is built on Hyperliquid and is preparing to launch derivatives contracts under CFTC supervision. ICE made a direct investment in trade[XYZ], and the investor pool was led by legendary billionaire Stanley Druckenmiller.

Stanley Druckenmiller is famous for managing the Duquesne Capital fund for 30 years with a phenomenal average return of around 30% per year without a single losing year, and in 1992, together with George Soros, he successfully attacked the British pound. 

I am excited to be an investor in trade(xyz) as they partner with ICE to bring 24/7 perpetual futures on Hyperliquid to the United States. As a market participant, I am looking forward to to using their innovative product to enhance my investment process.

— Stan Druckenmiller (@standuquesne) October 29, 2026
Commenting on his participation, Druckenmiller noted that he was "happy to become an investor" and called the launch of 24/7 perpetual futures an "innovative product" that he looks forward "to using in trading." Against this backdrop, the HYPE token completely ignored the market panic and recorded an impulsive surge on the chart to $87.391 (+9.14%), absorbing a whale's withdrawal of 694,310 HYPE to Coinbase, thanks to Hyperliquid's buyback algorithm, which has destroyed ~5% of the maximum supply (3.89 billion).

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At the same time, high demand is recorded for on-chain derivatives on real-world assets (RWA Perps), whose monthly trading volume in October grew by 27% and reached a record $164 billion. Activity is shifting to tokenized stocks (NVDA, GOOGL, SPCX) and commodities (gold XAU, silver XAG). In the corporate sector, 99.3% of MicroStrategy shareholders approved the transfer of four series of preferred shares to a daily dividend scheme, including weekends. MSTR shares are holding at $141.41.

Fresh morning statistics from SoSoValue confirm that institutional capital is holding its positions:

Bitcoin ETF: Net inflow amounted to $27.53 million, interrupting a three-day outflow.

Ethereum ETF: A net capital outflow of $21.16 million was recorded.

XRP ETF: Net assets reached $1.51 billion (3.79% of XRP's capitalization) with a cumulative inflow of $1.80 billion, while the SEC postpones the deadline for leveraged XRP ETFs to November 2026.

HYPE ETF: The new sector accumulates $401.65 million in net assets, led by funds from Grayscale and Bitwise, with a share price of $81.56.

Asset manager Bitwise updated its Bitcoin Long-Term Capital Market Assumptions report, raising its base target for Bitcoin by 2036 to $1.6 million (at a CAGR of 34.3%). In the bull case, growth to $3.66 million is forecast, and in the bear case, a fall to $130,686. At the infrastructure level, the XRP Ledger Foundation officially included Flare Networks in its list of recommended validators (dUNL), granting Flare nodes the right to vote when finalizing ledgers and updating XRPL code.

Tough fed and risk zones. What to expect from the market in the coming daysThe liquidation heatmap (Liquidation Max Pain) for the monthly period shows a predominance of buyers' stop orders due to the Fed's "hawkish tone." The overall Pain Force Field index is in the Below 94% zone, maintaining the risks of a local squeeze-out of long positions.

Daily price charts for BTC/USD, XRP/USD, ETH/BTC, and HYPE/USD showing market movement, Source: TradingViewFocus for traders — what to watch right now:

$79,080.54 level for BTC: The strongest intersection point of longs across 7 rolling windows. A breakdown of the $80,000 support will trigger the automatic closure of longs worth another $146 million.

$87,091.27 mark for BTC: The target zone of short pain for market makers, with a seller liquidity pool of $131 million. The structure hints that it is much more profitable for the market to make a quick jab down for the final cleansing of "leveraged" players before moving to all-time highs.

Altcoin risk zone: Within 1% of the current price are stop orders for BNB (-0.52%), tokenized silver XAG (-0.61%), and SPCX shares (-0.62%).

Squeezed long pools in SOL, LINK, and XRP: Limited spot liquidity increases the risk of their sharp fall at the slightest movement of Bitcoin toward the $79,000 liquidation level.

ETF flow vectors: The gap between inflows into BTC and outflows from ETH confirms a temporary flight from altcoins in favor of the first cryptocurrency.

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Yesterday's sell-off is technical in nature — a derivatives cleanup — and removes the overhang of open interest. The Fed's tough rhetoric is temporarily restraining the pressure of margin buyers, but the macro trend remains strictly upward thanks to the long-term supply shortage of liquid digital assets.

Expanded collaboration brings together Ripple Payments, Ripple USD (RLUSD) and digital asset custody to move and manage capital more efficiently across emerging markets

NEW YORK, October 28, 2026 – Ripple, the leading provider of blockchain solutions across traditional and digital finance, today announced an expanded partnership with Water.org, the nonprofit co-founded by Gary White and Matt Damon that has helped more than 95 million people gain access to safe water or sanitation worldwide. Building on more than a year of collaboration, Water.org is expanding its use of Ripple’s infrastructure across payments, stablecoins and custody to move and manage capital more efficiently across its global operations.

The partnership leverages Ripple’s payments, stablecoin and digital asset infrastructure to help Water.org move funding faster, reduce costs, and scale access to water and sanitation financing while bringing global humanitarian aid where it’s most needed. Ripple Payments enables faster, lower-cost cross-border flows to Water.org’s network of local financial institution partners; Ripple USD (RLUSD), Ripple’s US dollar-backed stablecoin, provides a digital settlement layer for more efficient WaterCredit disbursements; and Water.org will now use Ripple’s Wallet-as-a-Service technology to securely manage digital assets, simplifying operations as these programs scale into new markets.

Ripple’s funding and payments infrastructure have helped Water.org reach more than 1 million people with access to safe water or sanitation financing across Latin America. With Ripple Payments, Water.org has seen measurable operational improvements: more than $3.2 million moved across four markets, settlement times dropped from two to three days to same-day in Mexico and Brazil, payment processing is now available 24/7/365 rather than subject to a single daily banking cutoff. Transaction fees have also dropped by up to 66 percent, meaning more of every dollar reaches borrowers rather than being absorbed by fees.

To sustain and accelerate this work, Ripple has committed $6 million to Water.org over three years to support solutions like WaterCredit, which partners with local financial institutions to provide affordable loans for families to bring taps, toilets and piped water connections home. Water.org also received a grant of $1.25 million in RLUSD through the Stablecoin Impact Fund, to expand stablecoin-enabled WaterCredit disbursements into Indonesia, the Philippines and Uganda.

"Ending the water crisis is, at its core, a funding problem. The issue isn't a lack of money. It's how that money flows. Families living in poverty are already paying for water every day. When affordable financing reaches them, that spending becomes a tap or a toilet that lasts. That only works when capital can reach our local partners quickly and efficiently, wherever they are. Ripple has shown what that looks like. In Latin America, we have seen that when money moves the way it should, every dollar goes farther and reaches more people. Together, we're building toward a future where everyone has safe water and sanitation." — said Gary White, Co-Founder and CEO, Water.org

“The promise of crypto and blockchain has always been about making money move faster, more efficiently and globally. With Water.org, we're seeing what that looks like first hand. Water.org's work is critical to expanding access to safe water and sanitation worldwide, and we're proud to help scale that impact by making it faster and more affordable to move money where it's needed most.” said Brad Garlinghouse, CEO of Ripple

Beyond its direct support for Water.org, Ripple is also putting capital to work through the WaterEquity Everspring Fund, a perpetual impact vehicle that uses philanthropic capital to unlock commercial investment in water and sanitation lending across emerging markets. As loans are repaid, capital is recycled into new lending — allowing each dollar to support families and communities again and again.

Ripple also joins Get Blue — a movement launched by Water.org — as the exclusive digital asset and FinTech partner. Inspired by the (RED) campaign, Get Blue unites brands, creators, artists, and consumers behind a single mission: bringing safe water home for millions of families worldwide. Founding partners include Gap, Amazon, Starbucks, and Ecolab. As the exclusive FinTech partner, Ripple brings the payments and stablecoin infrastructure that powers Water.org's ability to move money faster and more affordably to the local financial institutions disbursing WaterCredit loans. Ripple's first year of Get Blue funding has helped Water.org reach 400,000 people, with its three-year commitment expected to support 1.2 million people. Get Blue is part of Water.org's goal to reach 200 million people with access to safe water or sanitation by 2030.

Water.org co-founders Gary White and Matt Damon join Ripple at Swell 2026 for a fireside chat with Ripple CEO Brad Garlinghouse — discussing what innovative financial solutions can do to help bring safe water and sanitation to millions of families worldwide, and the role of faster, more affordable payments infrastructure in scaling Water.org's proven microloan model.

About Ripple

Founded in 2012, Ripple is the leading provider of blockchain solutions rewiring the global financial system. With over 85 licenses, Ripple provides a single trusted entry point for enterprises with payments, custody, prime brokerage and treasury management solutions. Ripple’s stablecoin, RLUSD, and the digital asset XRP underpin these capabilities, enabling Ripple and its customers to bridge the worlds of traditional and digital finance.

About Water.org

Water.org is a global nonprofit organization that has positively transformed more than 95 million lives around the world through access to safe water and sanitation. Founded by Gary White and Matt Damon, Water.org pioneers market-driven solutions to the global water crisis. For more than 30 years, we have helped give women hope, children health, and families bright futures. Learn more at https://water.org.

About Get Blue

Get Blue™ is a global movement mobilizing brands, creators, consumers, and capital to Bring Water Home™ and help solve the global water crisis. Get Blue brings the power of its partners’ commerce to one of the world’s most pressing challenges. Proceeds of Get Blue products and activations will directly power Water.org’s proven solutions to connect families to safe water and sanitation. Get Blue was created in collaboration with global brand consultancy Wolff Olins. Learn more at GetBlue.water.org.

Ripple press contact:

Kailey Medzadourian [email protected]

XRP could see a sudden price increase if it breaks above a major cluster of short liquidations between $1.30 and $1.31.

Currently, XRP changes hands at $1.2926, but data from the Coinglass Liquidation Heatmap shows approximately $617.7 million in short liquidation leverage concentrated between $1.30545 and $1.31023 on Binance’s XRP/USDT derivatives market. 

This range spans just 0.4% and sits roughly 1% above the current price, which makes it an important area to watch for a possible short squeeze.

Over $617 Million in Short Liquidations Sits Above XRP Data reveals that the $617.7 million in liquidation leverage comes from a combination of three major clusters between $1.30 and $1.31.

The first cluster sits at $1.30545, where approximately $229.74 million in short liquidation leverage could face liquidation. This represents the second-largest individual cluster above XRP’s current price. 

XRP faces multiple clusters of short liquidation leverage above the current price The next cluster sits at $1.30784 and contains an estimated $205.88 million, while the third appears at $1.31023, with another $182.09 million.

These figures represent separate groups of short contracts with liquidation prices in different ranges. Together, the three clusters account for approximately $617.7 million in potential short liquidations.

If XRP rises above $1.30545, liquidations from the first cluster could help push the price toward $1.30784. A break above that level could trigger another round of forced purchases, potentially carrying XRP toward $1.31023. 

Coinglass identifies areas with large concentrations of leveraged positions as potential price magnets because market prices may move toward these zones. 

However, the heatmap only highlights possible areas of increased activity. It does not guarantee that XRP will reach these levels or trigger every liquidation.

Another $1.671 Billion in XRP Liquidations Sits Near $1.35 Meanwhile, above the $1.30-$1.31 range, data shows that the largest individual short liquidation cluster above XRP’s current price sits at $1.34608, with approximately $255.27 million in potential liquidations. Another $227.24 million cluster lies just above it at $1.34847.

Across the wider range between $1.34608 and $1.3652, Binance XRP/USDT derivatives data shows approximately $1.671 billion in short liquidation leverage spread across several adjacent price levels. 

If XRP breaks through the initial clusters between $1.30 and $1.31, the resulting buying pressure could help drive the price toward this larger concentration. Reaching this zone could trigger more forced purchases and accelerate XRP’s upward move.

Despite the large liquidation clusters, traders should treat the heatmap figures as estimates, not confirmed outcomes. 

Coinglass calculates leverage distribution using open interest and trading volume data instead of accessing exact exchange order books. As a result, the actual value of liquidations could be lower than the amounts displayed on the heatmap.

Technical resistance also poses a challenge. Current analysis places significant resistance between $1.35 and $1.42, a range that overlaps with the area containing $1.671 billion in potential short liquidations. 

Even if forced buying pushes XRP toward this zone, selling pressure could slow its advance or prevent it from moving higher.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Meanwhile, more and more investors are beginning to explore digital asset growth opportunities, such as cloud mining and the UE Crypto earnings platform, in the hope of generating more stable, long-term returns while holding digital assets. This trend has further increased market attention toward XRP ETFs.

Summary

As investors actively explore cloud mining and earnings opportunities, XRP ETF inflows continue to grow, further increasing market attention toward UE Crypto. With XRP ETF inflows surpassing $1.8 billion, UE Crypto positions cloud mining as an alternative way to generate digital asset returns beyond simply holding XRP. Continued institutional inflows are driving the development of XRP ETFs, while UE Crypto is committed to providing users with a longer-term and more stable digital asset earnings mechanism. Inflows into XRP-backed ETFs have recently surpassed another major milestone, further strengthening institutional investors’ confidence in the market.

Meanwhile, more and more investors are turning their attention to the crypto sector, seeking more sustainable, long-term earning opportunities beyond simply waiting for the price of XRP to rise.

Continued inflows into XRP ETFs further reflect growing institutional demand for XRP. Although some retail investors remain cautious due to market volatility and price uncertainty, institutional capital continues to allocate funds to XRP through regulated financial products, making it one of the most closely watched mainstream digital assets at present.

As the regulatory environment continues to improve and financing conditions become more favorable, an increasing number of investors are beginning to consider a practical question: beyond waiting for prices to rise, are there more efficient and sustainable ways to participate in XRP’s long-term value growth?

XRP ETF inflows surpass $1.8 billion, marking a major milestone As of the market close on October 26, according to data published by the analytics platform uToday, cumulative net inflows into XRP-related exchange-traded funds (ETFs) had exceeded $1.8 billion, marking a new milestone and reflecting continued institutional investor interest in XRP-related investment products.

Meanwhile, overall market liquidity continues to improve. Although secondary-market trading activity has slowed and retail investor sentiment remains relatively cautious, institutional investment demand has remained steady, allowing net inflows to continue on most trading days.

Why are more XRP holders choosing UE Crypto? Against this market backdrop, an increasing number of XRP investors are turning their attention to UE Crypto, exploring more stable and sustainable digital asset earning models through cloud mining and earnings aggregation mechanisms.

Compared with more volatile futures trading or ETF investments, UE Crypto offers a more straightforward and convenient way to participate in digital assets, helping users improve the utilization of their digital assets while participating in the development of the XRP ecosystem.

For users with a certain level of capital, this model may offer more consistent daily earnings, providing another option for long-term digital asset allocation.

About UE Crypto UE Crypto is headquartered in the United Kingdom and operates under European regulatory frameworks such as MiCA and MiFID II, continuously improving platform transparency, operational standards, and user asset protection mechanisms.

The platform employs a multi-layered security architecture, including:

Annual financial, security, and compliance audits by PricewaterhouseCoopers (PwC); Digital asset custody insurance from Lloyd’s of London; Cloudflare enterprise-grade network security protection and McAfee® security systems; Bank-grade data encryption technology and professional security infrastructure to provide multiple layers of protection for user assets and accounts. UE Crypto currently supports a range of mainstream digital assets, including XRP, BTC, ETH, USDT, USDC, DOGE, LTC, and SOL, providing users with a more flexible and efficient digital asset service experience.

How to join UE Crypto Step 1: Register an account

Visit the official UE Crypto website and register using your email address to receive a $20 trial bonus.

Step 2: Choose a mining plan

Based on your personal budget and investment needs, choose a suitable cloud mining contract and start mining with a single click.

Step 3: Start earning

Once the contract is activated, the system automatically allocates computing power, and earnings are settled automatically every 24 hours. Users can withdraw their earnings at any time or choose to continue participating to pursue long-term compound growth in their digital assets.

Popular UE Crypto contracts Contract examples DOGE (Digital Intelligent System Contract)

Investment Amount: $500 Contract Duration: 5 days Daily Earnings: $6.25 Total Earnings at Contract Expiration: $500 + $31.25 BTC (Supercomputing System Contract)

Investment Amount: $1,000 Contract Duration: 10 days Daily Earnings: $13.10 Total Earnings at Contract Expiration: $1,000 + $131 LTC (Algorithm-Driven System Contract)

Investment Amount: $5,000 Contract Duration: 25 days Daily Earnings: $72 Total Earnings at Contract Expiration: $5,000 + $1,800 BTC (Quantitative Intelligent System Contract)

Investment Amount: $10,000 Contract Duration: 35 days Daily Earnings: $158 Total Earnings at Contract Expiration: $10,000 + $5,530 For more contract details, please visit the official UE Crypto website.

Conclusion Continued inflows into XRP ETFs, combined with improvements in the regulatory environment, further demonstrate that XRP is gradually becoming integrated into the mainstream financial system.

Meanwhile, UE Crypto offers XRP investors more diversified digital asset participation options, helping them explore different approaches, such as cloud computing services, while monitoring market price movements and broadening their asset allocation strategies.

As the new market cycle evolves, investors are gradually shifting their focus from short-term price fluctuations toward diversified allocation and long-term asset management. Balancing market risks and optimizing asset allocation have become increasingly important considerations for digital asset investors, reflecting the industry’s progression toward greater maturity and more rational investment practices.

For more information, visit the official website and download the application.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

Bitrue, a global cryptocurrency exchange, has launched its Halloween Trading Frenzy, a futures trading campaign running from Oct. 28 to Nov. 12, 2026 (UTC).

The campaign features a $33,333 prize pool, a $1,000 daily airdrop and a 100 USDT position voucher for eligible new users.

A 16-day campaign built around futures tradingThe Halloween Trading Frenzy is a seasonal campaign centered on Bitrue’s futures trading product. It runs for 16 days, from Oct. 28 through Nov. 12, 2026 (UTC).

The campaign is made up of three reward components. Each component is aimed at a different group of participants, from existing futures traders to users who are opening a Bitrue account for the first time.

The first component is a $1,000 daily airdrop, shared among participants who earn tickets through futures trading. The second is a $33,333 prize pool, distributed according to each participant’s position on the campaign leaderboard.

The third component is a 100 USDT position voucher for new users. To claim it, new users must register, meet a minimum futures trading requirement and submit a reward claim form.

Full rules, including reward distribution details and eligibility conditions, are published on the Halloween Trading Frenzy campaign page. Participants can review these terms before taking part in any part of the campaign.

How the campaign worksTickets for the $1,000 daily airdropDuring the campaign period, futures trades on Bitrue earn participants tickets. These tickets determine each participant’s share of the $1,000 airdrop distributed every day of the campaign.

Tickets are tied to trading activity rather than to account size alone. The exact calculation method, including the trading volume needed to earn a ticket, is listed on the campaign page.

Over the full 16-day period, the daily airdrop component is distributed across each campaign day. Participants can therefore take part on the days that suit their own trading schedule.

Leaderboard rankings for the $33,333 prize poolThe campaign also includes a leaderboard that ranks participants by their futures trading activity during the campaign. A higher leaderboard position corresponds to a larger share of the $33,333 prize pool.

Final rankings are based on activity recorded through the end of the campaign on Nov. 12, 2026 (UTC). The ranking criteria and the reward allocated to each tier are set out in the campaign rules.

New user reward: 100 USDT position voucherUsers who register a new Bitrue account can claim a 100 USDT position voucher. The reward follows three steps:

Register a new account on Bitrue during the campaign period.
Complete futures trades totaling at least 100 USDT.
Submit the new user reward form to claim the voucher.
A position voucher is a promotional credit that can be applied toward opening a futures position. Its validity period, eligible trading pairs and other usage conditions are defined in the campaign terms.

Key campaign detailsThe table below summarizes the main parameters of the Halloween Trading Frenzy. All figures are taken from the official campaign announcement.

ItemDetailCampaign periodOct. 28 to Nov. 12, 2026 (UTC)Eligible productBitrue futures tradingDaily airdrop$1,000 per day, shared through ticketsLeaderboard prize pool$33,333, shared by rankingNew user reward100 USDT position voucherNew user requirementAt least 100 USDT in futures trades, plus claim formEligibility and campaign termsParticipation in the Halloween Trading Frenzy is subject to Bitrue’s general terms of use and to the specific rules published on the campaign page. Access to futures trading and promotional campaigns also depends on local regulations in each participant’s jurisdiction.

Users in regions where futures trading or promotional rewards are restricted are not eligible to take part. Account verification requirements may apply before rewards are distributed.

Bitrue reserves the right to review campaign activity and to disqualify accounts involved in abnormal or manipulative trading behavior. The campaign terms may also be updated during the campaign period, with changes reflected on the official campaign page.

About BitrueFounded in 2018, Bitrue is a global cryptocurrency exchange serving more than 40 million users worldwide. Bitrue was the first exchange to list XRP as a base pair and continues to offer one of the broadest selections of XRP trading pairs available on any global exchange, alongside a growing suite of tokenized real-world assets, staking products, Launchpool offerings, and Bitrue AI, its free AI-powered trading bot, visit bitrue.com.

Disclaimer

This third-party press release is published substantially as received and does not reflect BeInCrypto's editorial views. BeInCrypto has not independently verified its claims or assessed the suitability, legality or appropriateness of any referenced asset, product or service; publication is not an endorsement. The content is general information, not investment research, financial, investment, legal or tax advice, a personal recommendation, offer or solicitation. Verify all information and seek professional advice where appropriate before acting. Crypto-assets may result in total loss.

3 Healthcare Stocks Showing Why the Sector Still Has MomentumInsmed NASDAQ: INSM reported third-quarter 2026 revenue growth from both of its commercial respiratory products and raised the low end of its full-year revenue guidance for BRINSUPRI and ARIKAYCE.

Chair and Chief Executive Officer Will Lewis said BRINSUPRI generated $400.1 million in third-quarter revenue, up 29% sequentially. The company said the bronchiectasis treatment has generated more than $1 billion in revenue during its first four full quarters on the market, reaching what Lewis described as blockbuster status.

Get Insmed alerts:

Russell Rebalance: 3 Stocks Ready to Move HigherARIKAYCE, Insmed’s treatment for certain patients with Mycobacterium avium complex, or MAC, lung disease, generated $124.4 million in third-quarter revenue, up 9% from the same period a year earlier.

Updated Product Guidance and Commercial Plans Insmed raised its 2026 BRINSUPRI revenue outlook to $1.35 billion to $1.4 billion, increasing the low end of the prior range by $100 million. The company lifted ARIKAYCE guidance to $460 million to $470 million, raising the low end by $10 million.

Stock Rotation is Underway: Here are the Winners Moving ForwardLewis said the company has seen strength in BRINSUPRI payer approvals, reauthorizations, persistence and dispenses, though Insmed will no longer provide individual launch metrics now that the product has completed its first full year of commercialization. He said the company expects to provide 2027 guidance around the time of its annual investor conference.

Insmed plans to begin its first branded television campaign for BRINSUPRI next month, alongside its existing unbranded outreach efforts. Lewis said the company is focusing physician engagement on high-potential prescribers and believes direct-to-consumer advertising could begin contributing to demand during the first half of 2027.

BRINSUPRI was also launched in Japan last week as the first approved medicine for bronchiectasis in that country, according to the company. Lewis said Japan has roughly 150,000 diagnosed bronchiectasis patients and is expected to be the main driver of BRINSUPRI’s sales outside the United States.

Bronchiectasis Diagnosis Efforts Management highlighted an effort to identify patients with bronchiectasis who may also have chronic obstructive pulmonary disease, or COPD, or asthma. Lewis said the company believes comorbid bronchiectasis could represent a substantial additional opportunity beyond BRINSUPRI’s current estimated peak-sales potential of more than $7 billion.

The company is pursuing retrospective imaging work with three U.S. COPD and asthma centers, developing potential AI-enabled diagnostic tools with strategic partners, and deploying an initial group of 16 nurse disease educators. The tools are intended to help health-care providers identify possible bronchiectasis in patient records and imaging workflows.

Lewis said Insmed expects to share initial findings from these diagnostic initiatives around the middle of 2027. He added that patients diagnosed with bronchiectasis would be on-label for BRINSUPRI, regardless of whether they also have COPD or asthma.

Insmed is also supporting real-world evidence generation for BRINSUPRI. The company said the BEST-BE observational study is designed to enroll 1,000 adults at 13 U.S. sites and assess exacerbations, quality of life, safety, lung function and other outcomes over two years. Separately, EMBARC is conducting a three-year European open-label study involving up to 3,000 patients.

ARIKAYCE Regulatory Progress and Pipeline Updates The FDA granted priority review to ARIKAYCE’s supplemental new drug application for MAC lung disease, with a target action date of Jan. 28, 2027. Lewis said the agency does not currently plan to convene an advisory committee meeting. Insmed also plans to submit ENCORE data to Japan’s Pharmaceuticals and Medical Devices Agency during the fourth quarter to support a potential label expansion there.

If approved in the U.S. and Japan, Insmed expects to launch ARIKAYCE under expanded labels in the first half of 2027. The company said the potential expansions could increase the addressable market in each region from about 15,000 patients currently to more than 100,000 patients.

Insmed’s TPIP program, a once-daily inhaled treprostinil prodrug, is advancing through four Phase III studies in pulmonary hypertension associated with interstitial lung disease, pulmonary arterial hypertension, progressive pulmonary fibrosis and idiopathic pulmonary fibrosis. The PALM-ILD study is more than 35% enrolled, and Insmed expects enrollment to conclude no later than the first half of 2028. The PALM-PAH study has enrolled its first patient, PALM-PPF has initiated its first site, and PALM-IPF remains on track to begin in the first half of 2027.

The company also said its Phase I study of INS1033 is actively recruiting healthy volunteers, with data on pharmacokinetics and blood NSP levels expected next year. Subject to positive data, Insmed plans to begin a Phase II rheumatoid arthritis study in 2027, followed by planned work in ulcerative colitis and COPD. Initial data from the company’s Phase I gene therapy programs in Duchenne muscular dystrophy and amyotrophic lateral sclerosis are expected in 2027.

Financial Position Chief Financial Officer Sara Bonstein said cost of product revenues totaled $78.2 million, or 14.9% of revenue, compared with 20.6% in the prior-year quarter. Combined research and development and selling, general and administrative expenses rose 40% year over year as Insmed invested in the BRINSUPRI launch and its pipeline.

As of the end of the third quarter, Insmed had approximately $1.1 billion in cash equivalents and marketable securities. Bonstein said the company has “a clear line of sight” to achieving cash-flow positivity in 2027 while continuing to invest in growth initiatives and clinical development.

About Insmed (NASDAQ:INSM)Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company concentrates on conditions with significant unmet medical needs, particularly in pulmonary and infectious diseases.

Insmed's lead commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy used in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Just 2,065 XRP is enough to place a wallet among the largest 10% of funded accounts on the XRP Ledger, according to a snapshot cited by Bullrunners host Ryan Huggins. He argued that this relatively modest threshold reflects the large number of small accounts, rather than signaling any increased scarcity of $XRP.

XRP Ledger Account DistributionHuggins referenced account data from October 25, 2026, valuing the 2,065 XRP benchmark at roughly $2,660 on that date. The information presented originates from a video and describes individual ledger accounts, not individual investors, since one person can control multiple wallets or a single exchange wallet may aggregate numerous users’ balances.

Snapshot figures show that out of 8,269,831 funded XRP Ledger accounts, about 74% hold fewer than 100 XRP, with roughly 82% holding under 500 XRP. This concentration of small balances means relatively few wallets need higher balances to reach the upper percentiles of the ranking.

Account HoldingPercent of AccountsLess than 100 XRP74%Less than 500 XRP82%At least 2,065 XRP (Top 10%)10%Impact of Reserve ReductionHuggins linked the current account distribution to the XRP Ledger’s reserve adjustment in December 2024, when the required minimum account reserve dropped from 10 XRP to just 1 XRP. This change made it far easier and less expensive to open new, smaller accounts, which contributed to the overall growth in account numbers at lower balances.

In the snapshots discussed, the top 10% threshold fell from 2,143 XRP on August 11, 2026, to 2,065 XRP by October 25, 2026. Meanwhile, the minimum balance needed to join the top 1% also decreased over the same period, moving from 44,771 XRP to about 43,451 XRP.

DateTop 10% ThresholdTop 1% ThresholdAugust 11, 20262,143 XRP44,771 XRPOctober 25, 20262,065 XRP43,451 XRPInterpreting the DataAdding more small accounts can, in itself, lower account-based percentile cutoffs without requiring that larger holders sell any XRP. Huggins acknowledges that the ledger primarily counts addresses, not necessarily individual investors or distinct sources of capital.

He emphasized that an exchange address may represent thousands of individual customers, while a single investor can operate multiple accounts. Inactive or abandoned wallets can further complicate interpretation, and thus, wallet distribution charts may not directly reflect the real landscape of ownership or active participation.

“The ledger just counts boxes,” Huggins observed, adding that exchange and fund addresses can mask the true number of holders or the concentration of holdings.

For users with exposure to XRP through exchanges or investment funds, their balances may be aggregated in large custodial addresses, making them invisible in rankings of individual wallets. This distinction highlights why wallet snapshots offer a limited view of real market concentration and supply.

The relevant takeaway is that these data snapshots provide a perspective on visible account size distribution at given points in time, rather than serving as direct indicators of XRP adoption, scarcity, or liquidity. For a full picture of market supply and risk, investors must also consider exchange-held balances and overall ownership concentration.

The XRP Ledger (XRPL) is currently considering ten amendments for mainnet activation. However, the proposal to introduce native lending functionality has not reached the validator support needed to proceed, indicating a significant gap between ongoing development and available features on the network.

Lending Protocol Lags in Validator SupportA snapshot from the XRPL amendment dashboard on October 29 revealed that only 18 out of 34 validators backed the LendingProtocol amendment, far short of the 28 votes required. A separate network snapshot also showed similar results: just 19 out of 35 validators supported the proposal, with 29 required for a supermajority. Both tallies confirm that the native lending amendment remains well below the threshold for network activation.

Of the ten amendments in progress, only fixCleanup3_4_0—focused on technical improvements—had progressed to a two-week activation countdown. The other amendments, including those involving lending, continue to lack adequate consensus.

The XRPL’s lending proposal aims to enable institutions to issue fixed-term loans directly on the ledger by pooling XRP and eligible issued tokens. This system centers on two main components: SingleAssetVault, which pools assets and tokens, and LendingProtocol, which manages loan origination and repayment. An additional amendment, LendingProtocolV1_1, would add closed-ended vaults and modify interest calculations.

October 29 vote records indicated SingleAssetVault received 20 votes, while LendingProtocol and LendingProtocolV1_1 each had 18 supporters. These figures mirror a previous shortfall reported on October 20, with all three proposals ten votes short of the supermajority requirement.

If adopted, the lending system could provide new financial strategies based on pooled XRP and tokenized assets, potentially increasing on-ledger activity and utility for institutional users.

Mini dictionary: XRPL (XRP Ledger) is a decentralized, open-source blockchain designed primarily for fast and efficient value transfer. Changes to XRPL are governed by an amendment system in which validators vote to approve or reject network upgrades before they go live.

Network data showed 18 to 19 out of the needed 28 to 29 validator votes for LendingProtocol, leaving the proposed amendment ten votes short of the requirement for activation.

Institutional Applications and Protocol LimitationsPotential industry uses for native lending are already emerging. Ripple, a US-based enterprise blockchain company, has formed a partnership with Arf to facilitate RLUSD settlement financing. If lending features were approved in the future, this infrastructure could extend to native XRPL-based lending products.

However, the proposed lending model on XRPL relies on off-chain credit underwriting, meaning that settlement via blockchain does not fully eliminate borrower default risk. Other planned institutional features are encountering similar hurdles in gaining validator approval.

The planned lending amendment would not provide transaction privacy for standard XRP transfers. This distinction is especially relevant for regulatory compliance and transparency requirements.

Other Amendments and Feature ProposalsBeyond lending, additional features are also under review. The Sponsor amendment, which would allow third parties to cover transaction fees and account reserves for end-users, drew only nine validator votes, falling 19 short of the supermajority needed.

This Sponsorship feature could underpin a developing zero-XRP wallet function, which aims to let users receive stablecoins like RLUSD without having to fund the minimum XRP reserve to activate an account personally.

The Sponsor amendment seeks to enable businesses to pay transaction costs and account reserves on behalf of users but lacks the validator support for activation.

AmendmentVotes (Oct 29)Votes NeededStatusLendingProtocol1828InactiveSingleAssetVault2028InactiveLendingProtocolV1_11828InactivefixCleanup3_4_0Above 80%SupermajorityIn activation countdownSponsor928InactiveTechnical Upgrade Proceeds as Financial Features StallWhile native lending and other institutional features have stalled, the technical fixCleanup3_4_0 amendment remains on track. This update addresses network matters, including vault management, token handling, and escrow processing.

Previously, activation of this upgrade was delayed when validator support fell below the minimum threshold, which triggered a reset of the two-week supermajority countdown. The fixCleanup3_4_0 amendment is now on course for activation on November 4, provided the supermajority is maintained through that date.

Under XRPL amendment guidelines, changes must receive more than 80% validator support for two consecutive weeks before going live. This process underlines that including code in a release does not ensure it will be available on the mainnet without sufficient validator approval.

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Ripple, the company behind XRP, is approaching a $1 billion annualized revenue run rate as institutional adoption accelerates. The company expects to exit 2026 with $900 million in annualized product revenue, marking a major milestone for its expanding financial infrastructure business.

🚨RIPPLE EXPECTS $900 MILLION ANNUALIZED PRODUCT REVENUE RUN RATE!

Ripple expects to reach a $900 million annualized product revenue run rate as its institutional business expands, according to @TheBlockCo.

The figure is tied to growth across its products, including the RLUSD… pic.twitter.com/XW4xbvuKfd

— Crypto Banter (@crypto_banter) October 28, 2026 The announcement comes alongside a significant expansion of Ripple’s relationship with BNY, the financial services giant overseeing $63.4 trillion in assets under custody and administration. BNY now supports XRP and Ripple USD (RLUSD) on its digital asset custody platform.

The developments strengthen Ripple’s institutional credentials, but they also raise an important question for XRP holders. Can Ripple’s growing business translate into sustained demand for its native cryptocurrency?

Ripple Revenue Approaches $1 Billion as Institutional Business ExpandsRipple revenue milestone reflects growth across payments, custody, stablecoins, prime brokerage, and corporate treasury services. The company also reported that customers and partners using multiple Ripple products have tripled this year.

Its payments network is approaching $150 billion in lifetime transaction volume by the end of 2026. Ripple also reported more than $16 trillion in transactions enabled across its products during 2025.

These figures show how Ripple is building beyond its original cross-border payments business. The company now offers financial infrastructure designed to connect traditional institutions with digital assets and blockchain-based settlement.

Discover: The Crypto Presales This Q4 2026

$63T BNY Adds XRP Custody as Ripple Deepens Institutional TiesBNY’s expanded relationship with Ripple gives eligible institutional clients access to XRP and RLUSD custody through its digital asset platform.

As of September 30, BNY oversaw $63.4 trillion in assets under custody and administration, alongside $2.2 trillion in assets under management. Its position in traditional financial markets makes the expanded custody offering a notable development for XRP’s institutional accessibility.

Institutional investors often require established custody arrangements before holding digital assets. BNY’s support can therefore remove an operational barrier for eligible clients seeking to hold or transfer XRP.

The partnership also extends beyond custody. Ripple and BNY are exploring tokenized trade finance on the XRP Ledger, starting with a potential supplier-finance initiative involving working-capital platform C2FO. The initiative could bring approved receivables and related financing activity onto blockchain infrastructure.

Can Ripple’s Growth Finally Translate Into XRP Demand?Ripple’s expanding institutional business gives XRP a stronger position within an increasingly developed financial ecosystem. Greater custody access, tokenized assets, and new settlement applications could help increase institutional familiarity with the token. As of now, adoption of Ripple’s infrastructure arguably does not translate into buying pressure for XRP yet.

RLUSD, Ripple’s dollar-backed stablecoin, can handle settlement in applications where businesses prefer predictable dollar-denominated payments. The C2FO initiative, for example, is designed to use RLUSD for settlement on the XRP Ledger.

XRP’s potential benefit depends on how institutions use the network, if applications require XRP for liquidity, and if that activity creates sustained demand beyond transaction fees. Still, the combination of Ripple’s approaching $1 billion revenue run rate and BNY’s expanded custody support marks a significant institutional milestone.

Discover: The Best Token Presales

Ripple has outlined plans to boost settlement activity on the XRP Ledger, aiming to attract a portion of roughly $16 trillion in annual flows processed through its treasury and prime brokerage platforms. This strategic direction was highlighted by CEO Brad Garlinghouse during the company’s Swell conference in New York, according to statements from industry commentator Zach Rector.

Ripple’s $16 trillion opportunityGarlinghouse positioned the massive off-chain treasury and prime brokerage activity as a potential pool for future on-chain settlement. Of the total $16 trillion, approximately $13 trillion came through Ripple Treasury last year, while Ripple Prime handled another $3 trillion to $4 trillion. Currently, almost none of these flows have moved onto the XRP Ledger.

Rector emphasized the point that Ripple’s goal is a strategic vision for on-chain migration rather than an immediate rollout or forecast. Moving even 1% of this $16 trillion onto the ledger would amount to $160 billion in annual on-chain settlement, according to the illustrative figures shared.

Ripple, a financial technology company focused on digital payment protocols and cryptocurrency solutions, continues to expand its products in both traditional finance and blockchain sectors.

Mini dictionary: Ripple Treasury and Ripple Prime are financial platforms offered by Ripple for handling institutional payments and liquidity, operating mainly off-chain. The XRP Ledger is a decentralized blockchain optimized for fast and efficient settlement of digital assets.

Garlinghouse noted that despite Ripple Treasury and Ripple Prime processing $16 trillion in annual flows, “almost none of that activity had touched the ledger,” presenting migration as a new growth opportunity for the network.

PlatformAnnual Flow ($ Trillion)On-Chain ActivityRipple Treasury13MinimalRipple Prime3-4MinimalTotal16MinimalRevenue and strategic expansionRector reported that Ripple’s projected revenue run rate has increased sharply, with estimates suggesting $900 million this year, up from $300 million previously. These results reflect growth across multiple business lines, including payments, custody, and stablecoin services.

Ripple’s RLUSD stablecoin has begun trading on Robinhood, and a new cooperation with Coinbase was recently announced, signaling further steps to improve liquidity for clients. The conference presentation also pointed to developers enhancing the XRP Ledger with upgraded features designed to attract new applications, although no quantitative adoption figures were provided for these initiatives.

During the event, Garlinghouse sought to address community concerns regarding the future relevance of XRP, clarifying, “We will never give up on XRP.”

Questions remain over XRP Ledger migrationDespite the ambitious vision, clear details about the transition from off-chain to on-chain settlement have not yet emerged. A critical, unresolved issue remains: how much of the proposed settlement volume would necessitate actual XRP purchases, rather than occurring in RLUSD or other assets on the ledger.

Industry analysts note that settlement activity does not directly translate into demand for the XRP token. The company has not announced a definitive migration timetable or a detailed plan for how these treasury and prime flows might shift onto blockchain rails.

Galaxy Digital (NASDAQ:GLXY) applied for a national trust bank charter Thursday, following Ripple’s own federal approval for a similar structure earlier this week.

What Galaxy’s Bank Application Actually CoversGalaxy announced that its subsidiary, Galaxy Digital LP, submitted an application to the Office of the Comptroller of the Currency to establish Galaxy National Bank, a proposed national trust bank headquartered in New York. 

If approved, the bank would operate as a federally regulated trust institution under OCC supervision, housing Galaxy’s custody, trading and staking services for digital assets alongside fiduciary investment advisory services.

Galaxy founder and CEO Mike Novogratz said in a statement that digital assets are becoming an increasingly important part of the global financial system, and a national trust charter would let Galaxy bring more services under a single federal framework. 

The application builds on more than 50 licenses Galaxy already holds across the US, Europe and Asia, including SEC-registered broker-dealer subsidiaries and a CFTC-registered swap dealer subsidiary.

Moreover, New York’s Department of Financial Services recently granted a Galaxy subsidiary a BitLicense and a Money Transmission License, allowing it to offer digital asset trading and custody services to institutions across the state.

Why Ripple Just Secured a Similar CharterAs Benzinga reported Monday, Ripple (CRYPTO: XRP) CEO Brad Garlinghouse announced the OCC granted final approval for Ripple National Trust Bank, giving the company a federally supervised platform to support RLUSD (CRYPTO: RLUSD)and provide digital asset custody to enterprises. 

"We’ve always said crypto and banks work better together, this is what that looks like," Garlinghouse said. "The revolution isn’t happening outside the system. It’s happening from within it," he added.

Ripple first applied for the charter and a Federal Reserve master account in July 2025, receiving conditional approval in December. 

Approved activities now cover managing the segregated reserves backing RLUSD, acting as collateral trustee for RLUSD holders, and offering fiduciary digital asset custody services.

Meanwhile, RLUSD carries a market capitalization of $2.58 billion and functions as collateral within Ripple Prime, the company’s institutional brokerage arm.

The OCC’s willingness to approve back-to-back applications from Ripple and Galaxy suggests regulators remain open to bringing more of the crypto industry under direct federal oversight.

Image: Shutterstock

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Whale selling and exchange inflows draw attentionCrypto analyst Ali has projected that Ethereum’s price could decline further to $2,000, reflecting a potential additional drop of roughly 14% from current levels. Ali bases this forecast both on recent on-chain activity and the ongoing price action.

Ali noted that major investors, often called “whales,” have sold around 160,000 ETH in recent days, while the amount of ETH held on exchanges has risen by 100,000, increasing the likelihood of continued selling pressure.

On October 28, 2026, Ethereum failed to maintain an upward trajectory near $2,400. That day, network transaction volumes surpassed $100 billion. Following the rejection at this level, the price dropped below $2,300, falling as low as $2,290 during the day. Reductions in large wallets totaling 160,000 ETH pointed to approximately $348 million being offloaded by significant holders.

Meanwhile, the ETH balance on exchanges increased by 100,000 units, equivalent to about $240 million. This trend often signals that more tokens are ready for sale, adding near-term price pressure. Several analysts observe that rising exchange balances typically add to downward momentum for digital assets.

MetricChangeApproximate USD ValueWhale ETH sold-160,000$348 millionETH sent to exchanges+100,000$240 millionTechnical structure turns weakerAli considers Ethereum’s break below $2,385 as a critical technical development, signaling a deteriorating short-term outlook. The daily chart, according to the analyst, reveals a clear structure pointing toward a downward resolution. Should selling persist and ETH remain under the $2,385 level, a move toward $2,000 could remain on the table.

Ali explains that, should strong selling continue and exchange balances stay elevated, Ethereum could see another correction toward $2,000.

Glamsterdam upgrade delayedBesides recent price movements, Ethereum’s technical roadmap has also shifted. The Glamsterdam upgrade, previously scheduled for deployment on the Hoodi testnet at 17:42:48 UTC on October 26, 2026, has been postponed. No new activation date has been provided. Hoodi is a test network used by Ethereum developers to trial system changes before mainnet launches.

Core developers decided to delay the upgrade at the ACDE #248 meeting to allow for a more detailed review of EIP 8037’s interactions with mainnet smart contracts. This postponement also removed the planned simultaneous activations for the Amsterdam execution layer and Gloas consensus layer, as well as raising Hoodi’s gas limit to 200 million during the same period. Updated testnet activation schedules are expected to be announced separately at a later date.

Mini dictionary: EIP stands for Ethereum Improvement Proposal, which defines planned technical changes on the network. Testnets are separate networks used to safely trial upgrades before they are deployed to Ethereum’s mainnet.

Ethereum, the second-largest cryptocurrency by market capitalization, has been struggling to regain momentum following another market downturn that pushed ETH toward $2,300. With investors uncertain about the asset’s short-term prospects, attention has shifted to both institutional flows and technical signals for potential clues on Ethereum’s recovery.

ETH faces institutional pressure as ETFs see outflowsETH traded near $2,320 on October 29, representing a decline of about 2% over 24 hours. This latest setback coincided with the Federal Reserve’s decision to keep interest rates unchanged and growing uncertainty in technology stocks, leading investors to adopt a cautious stance across major risk assets.

In contrast to Bitcoin, Ethereum is facing a significant challenge in attracting institutional interest. Data from SoSoValue shows that US spot Ethereum ETFs recorded approximately $21.4 million in net outflows on October 28, further extending a losing streak to three consecutive trading sessions. BlackRock’s Ethereum ETF, trading under the ticker ETHA, led the outflows with $44.8 million in redemptions on Wednesday. While some withdrawals were offset by inflows in competing funds, the overall picture remained negative.

Between October 26 and October 28, cumulative net outflows from Ethereum ETFs reached roughly $170.2 million. By comparison, spot Bitcoin ETFs attracted around $137 million in new investments on Wednesday, highlighting a divergence in institutional sentiment toward the two leading cryptocurrencies.

Combined Ethereum ETF outflows totaled nearly $170 million between October 26 and October 28, while spot Bitcoin ETFs experienced significant inflows of $137 million on the same day. This contrast underscores the differing institutional appetite for each asset during recent market turbulence.

The ongoing selling pressure has contributed to ETH’s underperformance throughout October. Previous rounds of leveraged liquidations further drove prices lower as traders were compelled to close positions to meet margin requirements. With institutional withdrawals continuing, Ethereum needs stronger interest in the spot market to anchor any potential recovery.

AssetETF Flows (Oct 26–28)Latest Daily FlowEthereum-$170.2 million-$21.4 millionBitcoin+Approximately $137 million (Nov 28 daily)+$137 millionTechnical picture: Key resistance and support levelsEthereum’s immediate technical objective is to reclaim the $2,400 level, which has repeatedly acted as resistance over the past month. Recent trading has kept ETH in a narrow band between approximately $2,290 and $2,390, with buyers attempting to defend the lower boundary but struggling to spark substantial upward momentum.

A decisive break above $2,400 may pave the way toward the $2,480–$2,500 range, and further gains toward $2,550–$2,600 could follow if buyer interest strengthens. Coinpaper previously outlined a $2,600 recovery scenario for ETH, though the token lost over 12% during October.

Some analysts hold a more optimistic long-term view. Citigroup has forecasted a 12-month ETH target of $3,028, which is roughly 35% higher than its earlier $2,240 estimate. However, this target remains a mid-term projection and does not guarantee an immediate reversal for Ethereum.

On the downside, the $2,290–$2,300 support zone has recently attracted buyers, but a sustained move below this region could expose ETH to further losses. If selling accelerates, additional downside targets include $2,200, $2,150, and potentially as low as $2,100. Coinpaper has also explored the risk of ETH breaking under $2,000 should market weakness persist.

Network upgrades and long-term outlookBeyond price action, some attention has turned to Ethereum’s network development. The project’s upcoming Glamsterdam upgrade, recommended to boost block production and execution capacity, has been delayed. While this postponement does not directly explain ETH’s recent price weakness, its successful implementation could enhance Ethereum’s long-term prospects in the competitive blockchain industry.

Technological advancements may support future growth, but analysts caution that further adoption and market demand will be crucial for sustained price recovery.

Mini dictionary: Glamsterdam, an upcoming planned Ethereum network upgrade, aims to improve transaction processing efficiency and block production rates. Such enhancements help Ethereum maintain its competitiveness against newer smart contract platforms.

Tom Lee, co-founder of Fundstrat Global Advisors and chairman of BitMine Immersion Technologies, highlighted the growing impact of digital asset treasuries (DATs) on crypto supply dynamics in remarks delivered at Korea Blockchain Week. Lee focused on Hyperliquid and its native token HYPE, stating that accumulations by the project’s dedicated treasury could trigger significant market moves if allocations continue to rise.

Hyperliquid’s DAT accumulation strategyHyperliquid, a Layer 1 blockchain platform centered on perpetual futures trading, uses HYPE as its governance, trading, and staking token. DATs like Hyperliquid Strategies (ticker PURR) are responsible for managing large holdings of project tokens. According to DeFiLlama, Hyperliquid’s treasury currently owns around 14% of the circulating HYPE supply and continues to accumulate more tokens.

Lee explained that if this share approaches majority ownership, there could be sharp effects on HYPE’s market dynamics. He pointed out, “What happens when they get to 50% of supply? I mean, HYPE could go parabolic.”

Lee described HYPE as an example where rapid treasury accumulation could increasingly reduce the token’s float, leading to increased scarcity and potentially rapid price appreciation if supply crosses critical thresholds.

BitMine Immersion Technologies, referenced by Lee as a parallel case, is the largest Ethereum treasury in the market, holding millions of ETH as confirmed by SEC filings. Such treasuries play a similar role by holding significant shares of existing token supplies.

Mini dictionary: Hyperliquid is a blockchain platform that specializes in perpetual futures contracts, where traders can open leveraged positions that do not expire, offering flexibility and continuous trading compared to traditional futures.

How DAT mechanics influence token supply and priceLee detailed two key mechanisms connected to DAT trading. When a DAT trades below its net asset value (NAV), investors get exposure to underlying crypto assets at a discount. He offered an analogy: purchasing $85,000 worth of Bitcoin for $60,000. In these situations, DAT shares represent a discounted entry to crypto markets without custodial risk for investors.

When the DAT trades above NAV, it can issue more equity to raise additional capital to purchase tokens, resulting in decreased circulating supply and supporting upward price movements for the asset. This process resembles the share creation and redemption mechanism in spot ETFs, but DATs often have a more direct effect on token float and pricing.

Institutional and retail investors benefit from listed equity exposure with built-in custody and tax advantages, while exchanges and liquidity providers must adapt to lower available token supply, often leading to higher volatility.

DAT MechanismEffect on MarketTrades below NAVInvestors buy crypto at a discountTrades above NAVTreasury issues shares, buys back tokens, reducing supplyWider implications for Ethereum and future trendsLee connected his thesis around HYPE to ongoing supply squeeze narratives for Ethereum. He reported that DATs now hold approximately 7% of all ETH, and argued that this figure could reach 15% during the current cycle. BitMine currently holds 4.9% of ETH supply, making it the largest single treasury in the market, alongside notable tokenization efforts from major institutions including JPMorgan and BlackRock—all on the Ethereum network.

Lee noted that only 2% of institutional investors tracked by Fundstrat currently own crypto, suggesting potential for increased institutional inflows through DATs if Ethereum outpaces traditional equity benchmarks, as seen in its 65% rally in Q3 versus a flat S&P 500.

For Hyperliquid, Lee emphasized that tracking when PURR—the DAT managing HYPE—reaches 25% or 50% of total supply will be important milestones. The growth of DAT vehicles and their market share are now closely monitored to understand float, dilution, and price pressures in the ecosystem.

He suggested that for Ethereum, a shift to 15% supply owned by DATs would depend on BitMine’s pace of accumulation and the emergence of competing treasuries. Analysts are following regulatory filings, blockchain data platforms, and dilution metrics to assess the ongoing impact of supply absorption versus potential corrections if premium levels subside.

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.

Dogecoin traders faced fresh pressure amid the ongoing market drop, with 17,833,333 DOGE in long positions liquidated as selling returned to the market. $342 million was liquidated across the crypto market in the last 24 hours, with Dogecoin having its share.

According to CoinGlass data, Dogecoin saw a total of $2.45 million in liquidations over the last 24 hours, with longs accounting for $1.391 million (about 17,833,333 DOGE) of this total, while shorts saw $1.05 million in liquidations.

Long liquidations occur when traders betting on higher prices are forced to close their positions, typically after losses push their margin balances below required levels. When large numbers of leveraged positions are liquidated in a short period, the resulting selling can intensify downward price pressure.

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Along these lines, Dogecoin was down nearly 3% in the last 24 hours to $0.078 as the market fell while investors digested the Federal Reserve's decision to hold interest rates steady at its October meeting.

Dogecoin rose for three consecutive days earlier in the week to hit $0.08, but profit-taking in the markets caused its price to retreat.

What's next?The Personal Consumption Expenditures Index—the Fed's preferred inflation gauge—was released Thursday, with few cryptocurrencies recouping losses in the wake of the report.  

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The personal consumption expenditures price index increased a seasonally adjusted 0.5% for the month, putting the annual inflation rate at 3.6% as the pace of price increases stepped up in September, keeping inflation well above the Federal Reserve's target.

While the Fed held interest rates on Wednesday, as expected, two officials dissented in favor of a quarter-point increase and Chair Kevin Warsh declined to signal what might come in December. However, expectations for a 25 basis point hike at the central bank's next meeting on Dec. 9 remain.

If Dogecoin rebounds, the next key resistance levels for Dogecoin are $0.083 and $0.087, while support is envisaged first at $0.074 and $0.069 in the event of a price drop. 

Tenet Healthcare Corporation (THC) Q3 2026 Earnings Call October 29, 2026 10:00 AM EDT

Company Participants

William McDowell - Vice President of Investor Relations
Saumya Sutaria - Chairman & CEO
Sun Park - Executive VP & CFO

Conference Call Participants

Jason Cassorla - Guggenheim Securities, LLC, Research Division
Will Spivack - TD Cowen, Research Division
Kevin Fischbeck - BofA Securities, Research Division
Stephen Baxter - Wells Fargo Securities, LLC, Research Division
Benjamin Mayo - Leerink Partners LLC, Research Division
Brian Tanquilut - Jefferies LLC, Research Division
Pito Chickering - Deutsche Bank AG, Research Division
Albert Rice - UBS Investment Bank, Research Division
Justin Lake - Wolfe Research, LLC
Andrew Mok - Barclays Bank PLC, Research Division
Sarah James - Cantor Fitzgerald & Co., Research Division
Ann Hynes - Mizuho Securities USA LLC, Research Division
Craig Hettenbach - Morgan Stanley, Research Division
Benjamin Hendrix - RBC Capital Markets, Research Division
Benjamin Rossi - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good morning. Welcome to Tenet Healthcare's Third Quarter 2026 Earnings Conference Call. [Operator Instructions]

I'll now turn the call over to your host, Mr. Will McDowell, Vice President of Investor Relations. Mr. McDowell, you may begin.

William McDowell
Vice President of Investor Relations

Good morning, everyone and thank you for joining today's call. I am Will McDowell, Vice President of Investor Relations. We're pleased to have you join us for a discussion of Tenet's third quarter 2026 results as well as a discussion of our financial outlook. Tenet's senior management participating in today's call will be Dr. Saum Sutaria, Chairman and Chief Executive Officer; and Sun Park, Executive Vice President and Chief Financial Officer. Our webcast this morning includes a slide presentation, which has been posted to the Investor Relations section of our website, tenethealth.com.

Listeners to this call are advised that certain statements made during our discussion today are forward-looking and represent management's

Key Takeaways TT's Q3 EPS rose 25.3% y/y to $4.86, while revenues climbed 17.7% to $6.76 billion, beating estimates.Strong commercial HVAC demand drove 20% organic bookings growth, with backlog surging 73% to $12.5 billion.TT raised its 2026 revenue growth outlook to 13.5%, despite inflation and supply-chain pressures on margins.
Trane Technologies plc (TT - Free Report) reported strong third-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate.

TT’s earnings of $4.86 per share beat the consensus estimate by 2.5% and rose 25.3% year over year. Revenues of $6.76 billion exceeded the consensus mark by 5% and rose 17.7% from the year-ago quarter.

The results benefited from robust commercial heating, ventilation and air conditioning (HVAC) demand, higher volumes and positive pricing. Organic bookings increased 20%, while backlog reached $12.5 billion, up 73% year over year.

TT Benefits From Strong Commercial HVAC DemandReported bookings increased 21% to $7.25 billion, while the enterprise book-to-bill ratio reached 107%. All operating segments recorded ratios above 100%, indicating that orders exceeded revenues during the quarter.

Global applied organic bookings increased approximately 40%, supported by broad-based demand across commercial markets. Americas Commercial HVAC backlog increased approximately 80%, with strong demand from data centers and other core verticals. Services continued to account for roughly one-third of revenues, supported by a low-teens compound annual growth rate since 2020.

Trane Technologies Delivers Robust Revenue GrowthOrganic revenues increased 16%, reflecting low-twenties growth in equipment and high-single-digit growth in services. Strong volume expansion and positive pricing supported revenues, while acquisitions also contributed to reported growth.

Americas revenues increased 21% to $5.65 billion and advanced 19% organically. Commercial HVAC revenues grew in the low twenties, led by applied solutions, which advanced more than 60%. Residential HVAC revenues increased approximately 20%, while transport revenues grew in the high single digits.

The company raised its 2026 Americas Commercial HVAC revenue growth outlook to 15-16% and its residential HVAC growth expectations to the high single digits.

TT's Operating Profit Rises Despite Margin PressureAdjusted operating income increased 15.4% to $1.36 billion. However, the adjusted operating margin contracted 40 basis points to 20.2%, reflecting elevated inflation, supply chain constraints and continued business investments.

Adjusted EBITDA increased 15.6% to $1.45 billion, while the corresponding margin declined 40 basis points to 21.4%. Volume growth, positive pricing and productivity gains partially offset cost pressures.

GAAP operating income increased 15.3% to $1.34 billion, although the GAAP operating margin contracted 40 basis points to 19.9%. GAAP continuing earnings increased to $4.79 per share from $3.82 in the prior-year quarter.

Trane Technologies Reports Mixed Regional MarginsAmericas adjusted operating income increased 23.6% to $1.26 billion. The adjusted operating margin expanded 50 basis points to 22.3%, supported by volume growth despite inflationary pressures and supply chain constraints.

EMEA revenues increased approximately 1% to $755.8 million and advanced 2% organically. Adjusted operating income decreased 12.4% to $129.6 million, while the margin contracted 250 basis points to 17.2%. The conflict in the Middle East and higher costs to serve customers weighed on profitability.

Asia Pacific revenues increased 8% to $356 million and rose 7% organically. Adjusted operating income declined 10.8% to $66.2 million, with the margin contracting 390 basis points to 18.6%. Challenging conditions in China partly offset strength across the rest of Asia.

TT Generates Strong Free Cash FlowCash from continuing operating activities reached $3.06 billion during the first nine months of 2026 compared with $2.05 billion a year earlier. Free cash flow increased 58.3% to $2.83 billion, supported by improved working capital management.

Trane Technologies ended September with $1.23 billion in cash and $4.22 billion in debt. Through October, the company deployed or committed approximately $3.4 billion, including $930 million for dividends, $1.08 billion for acquisitions and investments, and $1.4 billion for share repurchases.

Management raised its 2026 capital deployment target to more than $3.4 billion from the previous range of $2.8-$3.3 billion.

Trane Technologies Raises Its 2026 Revenue OutlookManagement expects full-year reported revenue growth of approximately 13.5%, up from its previous projection of 11.5%. Organic revenue growth is forecast at roughly 11% compared with the earlier expectation of 9%.

Adjusted continuing earnings guidance was reaffirmed at $15.20-$15.30 per share. The Zacks Consensus Estimate for earnings is pegged at $15.32 per share for the same period. Fourth-quarter adjusted earnings are expected between $3.40 and $3.50 per share, with organic revenue growth projected at approximately 14.5%. The Zacks Consensus Estimate of earnings for the fourth quarter of 2026 is pinned at $3.61 per share.

The improved revenue outlook reflects strong Commercial HVAC momentum, record backlog and improving residential and transport trends. Management expects full-year free cash flow to exceed adjusted net earnings, while continued investments in capacity, innovation and operational excellence are intended to support future growth.

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

Recent Earnings SnapshotsEquifax (EFX - Free Report) reported better-than-expected third-quarter 2026 results. EFX’s adjusted earnings per share of $2.26 outpaced the Zacks Consensus Estimate by 3.2% and increased 10.8% from the year-ago quarter. EFX’s revenues of $1.69 billion marginally surpassed the consensus estimate and improved 9.6% year over year.

ManpowerGroup (MAN - Free Report) posted mixed third-quarter 2026 results. MAN’s adjusted earnings of $1.01 per share matched the consensus mark and rose 21.7% from the year-ago quarter. MAN’s total revenues of $4.84 billion missed the consensus mark by 1.4% but increased 4.4% year over year.

Key Takeaways SCI's Q3 EPS rose 11.5% to 97 cents, while revenues grew 4.6% to $1.11 billion, both missing estimates.Funeral revenues grew 5%, while cemetery revenues rose 4.3%, supported by higher preneed revenues and sales.SCI cuts 2026 EPS view to $3.94-$4.04 on softer funeral volumes and cost pressures but keeps cash flow view. Service Corporation International (SCI - Free Report) posted results for the third quarter of 2026, wherein both top and bottom lines missed the Zacks Consensus Estimate, while both increased from the year-ago period’s actuals.

Taking a Closer Look at SCI’s Quarterly ResultsSCI reported adjusted earnings of 97 cents per share, which missed the Zacks Consensus Estimate of 98 cents. However, the metric increased 11.5% from adjusted earnings of 87 cents per share in the year-ago quarter.

Total revenues of $1,107.3 million increased 4.6% from $1,058.1 million in the year-ago quarter. Revenues missed the Zacks Consensus Estimate of $1,111 million.

Gross profit rose 2.5% to $272.3 million from $265.5 million last year. The gross margin contracted approximately 50 basis points to 24.6%.

Corporate general and administrative expenses decreased 20.2% to $30.6 million from $38.3 million in the prior-year period, primarily reflecting lower long-term incentive compensation expenses and a favorable legal settlement.

Operating income increased 11.7% to $252.9 million from $226.4 million in the year-ago quarter.

SCI Provides Insights by SegmentsFuneral: Total funeral revenues reached $602.6 million, up 5% from $574.1 million in the third quarter of 2025. Gross profit increased 5.3% to $104.9 million from $99.6 million, while the gross margin expanded 10 basis points to 17.4%.

SCI performed 86,278 funeral services, higher than 84,636 services in the year-ago quarter. Average revenue per service increased 2.6% to $5,992 from $5,843.

Comparable funeral revenues increased 3.3% year over year to $588.2 million. Comparable core revenues rose 2.3%, supported by a 2.8% increase in core average revenue per service, partially offset by a 0.5% decline in core funeral services performed.

Comparable funeral gross profit increased 3.6% to $103.8 million, while the gross margin remained unchanged at 17.6%. Comparable preneed funeral sales production increased 6.1% to $323.5 million.

Cemetery: Total cemetery revenues were $504.6 million, up 4.3% from $484 million in the third quarter of 2025. Gross profit increased 0.9% to $167.4 million from $165.9 million, while the gross margin contracted 110 basis points to 33.2%.

Comparable cemetery revenues increased 4% to $503.4 million, driven by higher core revenues and other revenues. Core revenues increased 2.7%, supported by a 4% increase in recognized preneed revenues. Other revenues rose 19.7%.

Comparable cemetery gross profit increased 0.7% to $167.1 million, while the gross margin contracted 110 basis points to 33.2%. Comparable preneed cemetery sales production increased 4.8% to $369.2 million.

SCI’s Financial Health SnapshotThe company ended the quarter with cash and cash equivalents of $172.7 million, long-term debt of $4,977.9 million and total equity of $1,575.3 million.

Net cash provided by operating activities increased 17.6% to $296.8 million from $252.3 million in the prior-year quarter.

Total capital expenditure was $99.5 million, including $30.8 million for capital improvements at existing field locations, $42.3 million for cemetery property development, $6.4 million for digital investments and corporate initiatives, and $20 million for growth capital expenditures related to new funeral service locations.

During the first nine months of 2026, SCI returned approximately $464 million to its shareholders through dividends and share repurchases.

What to Expect From SCI in 2026?SCI updated the fourth-quarter earnings outlook and lowered its full-year adjusted earnings guidance, reflecting softer funeral volumes and continued cost pressures.

For the fourth quarter of 2026, the company expects adjusted earnings per share of $1.10-$1.20. The company lowered its full-year adjusted earnings guidance to $3.94-$4.04 per share from the previously projected $4.10-$4.30.

SCI reaffirmed its full-year adjusted operating cash flow guidance of $1,055-$1,115 million. Before cash taxes, adjusted operating cash flow is expected to be $1,175-$1,235 million.

The company maintained its maintenance capital expenditure outlook of approximately $335 million.

This Zacks Rank #3 (Hold) stock has fallen 3.5% in the past three months compared with the industry’s decline of 5.5%.

Image Source: Zacks Investment Research

Stocks to ConsiderLamb Weston Holdings, Inc. (LW - Free Report) engages in the production, distribution and marketing of frozen potato products in the United States, Canada, Mexico and internationally. LW presently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Lamb Weston’s current fiscal-year earnings indicates 7.6% growth from the year-ago numbers. Lamb Weston delivered a trailing four-quarter earnings surprise of 22.1%, on average.

The Chefs' Warehouse, Inc. (CHEF - Free Report) distributes specialty food and center-of-the-plate products in the United States, the Middle East and Canada. At present, CHEF carries a Zacks Rank #2 (Buy). Chefs' Warehouse delivered a trailing four-quarter earnings surprise of 30.4%, on average.

The consensus estimate for Chefs' Warehouse’s current fiscal-year sales and earnings implies growth of 10.8% and 34.2%, respectively, from the year-ago reported figures.

Mama's Creations, Inc. (MAMA - Free Report) manufactures and markets fresh deli-prepared foods in the United States. At present, MAMA holds a Zacks Rank of 2. Mama's Creations delivered a trailing four-quarter earnings surprise of 121.7%, on average.

The consensus estimate for Mama's Creations’ current fiscal-year sales and earnings implies growth of 30.3% and 66.7%, respectively, from the year-ago figures.

Key Takeaways Vulcan Materials earned $2.83 per share, beating estimates, while revenues fell 4.7% to $2.18 billion.Aggregates pricing rose 5%, but shipments fell 3% and higher diesel costs pressured profitability.Vulcan lowered its 2026 EBITDA outlook to $2.4 billion but expects earnings growth in 2027.
Vulcan Materials Company (VMC - Free Report) posted mixed third-quarter 2026 results, with adjusted earnings beating the Zacks Consensus Estimate but declining year over year. Total revenues missed the consensus mark and decreased from the prior-year quarter.

The quarter’s results reflected disciplined pricing, operational efficiencies and cost management. However, lower aggregates shipments and continued energy-related inflation partly offset these benefits. Aggregates cash gross profit per ton increased to $11.95 from $11.84 in the year-ago quarter.

VMC stock declined 1.9% during today’s pre-market trading hours following its earnings release, likely reflecting weaker-than-expected revenues, lower aggregates shipments and the reduced 2026 adjusted EBITDA outlook, despite the earnings beat and continued pricing gains.

VMC's Q3 Earnings & RevenuesVMC reported adjusted earnings of $2.83 per share in the third quarter, beating the Zacks Consensus Estimate of $2.79 by 1.4%. However, the figure declined 0.4% from the year-ago quarter’s adjusted earnings of $2.84 per share.

Quarterly revenues were $2.18 billion, down 4.7% year over year and 1.9% below the consensus mark of $2.23 billion. Aggregates shipments declined 3% to 62.7 million tons, reflecting a difficult comparison with the prior-year quarter, which benefited from favorable weather conditions.

Vulcan's Profitability Pressured by Higher CostsProfitability faced pressure from elevated energy costs and lower shipments. Gross profit declined to $665.6 million from $697.2 million a year ago. Operating earnings decreased 3.4% year over year to $524.6 million. Net earnings attributable to Vulcan declined to $362.3 million from $374.9 million in the prior-year quarter.

Adjusted EBITDA decreased 3.9% to $706.7 million, although the adjusted EBITDA margin improved to 32.3% from 32.1%. Higher diesel costs and inflationary pressures on certain parts and supplies weighed on earnings, partly offsetting benefits from pricing and operational efficiencies.

VMC Cuts SAG Expenses Amid Cost DisciplineBelow-the-line discipline continued to support results. Selling, administrative and general (“SAG”) expenses were $137 million, down from $145.3 million in the prior-year quarter. SAG, as a percentage of revenues, remained unchanged year over year at 6.3%.

On a trailing-12-month basis, SAG expenses accounted for 6.9% of revenues, improving 30 basis points year over year. The company recorded a $0.2 million gain on the sale of property, plant and equipment and businesses compared with a $0.6 million gain a year ago. Other operating expenses, net, declined to $4.2 million from $9.3 million.

Vulcan's Aggregates Pricing Offsets Shipment WeaknessThe Aggregates segment continued to benefit from pricing strength. Segment sales increased 1.7% year over year to $1.82 billion, while segment gross profit declined to $593.4 million from $612.1 million. Cash gross profit decreased to $749.5 million from $765.7 million.

Freight-adjusted sales price improved to $22.84 per ton from $22.01 year over year. On a mix-adjusted basis, pricing increased 5%, reflecting widespread pricing gains across the company's footprint. Gross profit per ton remained unchanged at $9.46.

Freight-adjusted revenues advanced to approximately $1.43 billion from $1.42 billion, highlighting continued pricing strength. At the same time, freight-adjusted cash cost of sales per ton increased 7% to $10.89 from $10.17, primarily due to higher diesel fuel costs. Excluding diesel inflation, unit cash costs increased 3%, supported by disciplined cost management and operational execution.

VMC's Asphalt and Concrete Reflect Portfolio ChangesPerformance in the downstream businesses reflected lower shipments and recent portfolio actions. Asphalt segment revenues declined to $381.2 million from $416.1 million, while gross profit decreased to $64.2 million from $71 million. Nevertheless, the asphalt gross profit margin remained strong at 17% despite higher liquid asphalt costs.

Operationally, asphalt mix shipments declined to 3.9 million tons from 4.3 million tons, while the average selling price improved to $85.49 per ton from $82.70. The prior-year quarter included the Houston asphalt and construction business, which was divested during the fourth quarter of 2025.

Concrete segment revenues declined to $92.4 million from $237.5 million, while gross profit decreased to $8 million from $14.1 million a year ago. Ready-mixed concrete shipments decreased to 0.5 million cubic yards from 1.2 million cubic yards, while the average selling price increased to $192.21 from $190.90. The concrete gross profit margin expanded to 9%. Results reflected the divestiture of the California concrete assets during the second quarter of 2026.

Vulcan's Liquidity & Capital Return HighlightsLiquidity remained supported by the company's balance sheet, with cash and cash equivalents of $106.6 million at quarter-end. The company carried $400 million of current maturities of long-term debt, $315 million of short-term debt and $3.97 billion of long-term debt. Total debt to trailing-12-month adjusted EBITDA stood at 2x, within management's targeted range of 2x to 2.5x.

VMC invested $174 million in maintenance and growth projects during the quarter. The company also returned $417 million to its shareholders through $350 million of share repurchases and $67 million of dividends.

During the quarter, Vulcan completed two bolt-on acquisitions, strengthening the aggregates position in Tennessee and expanding its footprint into southern Ohio, further supporting the aggregates-led growth strategy.

VMC Lowers 2026 Outlook, Targets 2027 GrowthManagement now expects approximately $2.4 billion in adjusted EBITDA for full-year 2026, compared with its previous guided range of $2.4-$2.6 billion. The revised outlook places expectations at the lower end of the earlier range amid continued energy-related inflation.

The company has taken proactive pricing and cost actions to mitigate elevated energy inflation extending into the fourth quarter. Looking ahead to 2027, Vulcan expects another year of earnings growth, supported by a continuation of the current demand environment, mid-to-high-single-digit aggregates pricing gains and further expansion in aggregates cash gross profit per ton through commercial discipline and operating efficiencies.

VMC’s Zacks Rank & Recent Construction ReleasesVulcan currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Otis Worldwide Corporation (OTIS - Free Report) reported third-quarter 2026 results, wherein adjusted earnings beat the Zacks Consensus Estimate but remained flat year over year. Net sales also surpassed the consensus mark and increased from the year-ago quarter.

OTIS reaffirmed its full-year net sales outlook of $15.1-$15.3 billion, implying approximately 4.6-6% year-over-year growth and expects organic sales growth in the low to mid-single digits. Otis continues to project adjusted operating profit of approximately $2.4 billion and adjusted earnings of $4.01-$4.05 per share.

Comfort Systems USA, Inc. (FIX - Free Report) delivered impressive third-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing sharply year over year. The quarterly performance reflected robust demand across technology-related projects, strong execution and continued expansion in construction activity. Backlog reached $17.81 billion, reinforcing management's confidence in sustained growth and profitability.

Comfort Systems also paid dividends of 90 cents per share during the quarter, compared with 50 cents a year ago. Share repurchases totaled $340.9 million, reflecting continued shareholder returns alongside investments in business expansion.

United Rentals, Inc. (URI - Free Report) reported third-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. URI’s adjusted earnings of $15.55 per share topped the Zacks Consensus Estimate of $13.83 by 12.4% and grew 32.9% year over year from $11.70. URI’s total revenues rose 15.7% year over year to $4.89 billion and surpassed the consensus estimate of $4.69 billion by 4.3%.

United Rentals management raised its revenue outlook to $18-$18.2 billion from $17.5-$17.8 billion. Adjusted EBITDA is now projected to be $8.3-$8.4 billion compared with $7.98-$8.13 billion previously.

Lawsuit alleges Papa John's International, Inc. made misleading statements to investors from August 7, 2025 to August 5, 2026; lead plaintiff motions are due November 2, 2026

, /PRNewswire/ -- The Law Offices of Frank R. Cruz today announced a class action lawsuit against Papa John's International, Inc. ("Papa John's" or the "Company") (NASDAQ: PZZA) on behalf of investors who acquired the Company's securities from August 7, 2025 to August 5, 2026. Filed on September 2, 2026, the case is Hale v. Papa John's International, Inc., et al., U.S. District Court for the Western District of Kentucky, Case No. 3:26-cv-00685.

If you lost money on Papa John's International, Inc. securities, submit your Papa John's International, Inc. loss information by November 2, 2026 to learn about participating in the lawsuit.

Papa John's International, Inc. class action timeline

Class period begins: August 7, 2025Class period ends: August 5, 2026Complaint filed: September 2, 2026Lead plaintiff motion deadline: November 2, 2026What happened?

On August 6, 2026, Papa Johns issued its second quarter 2026 financial results, reporting an 8.3% decline in North American comparable sales. The Company also reduced its fiscal 2026 outlook, expecting "global system-wide sales to decline between 2% and 4% compared to last year and adjusted EBITDA between $180 million to $190 million," and suspended its quarterly dividend. During the related conference call, CEO Todd Allan Penegor stated that "it's clear that our transformation is taking longer than expected" and "we must execute better and move faster."

On this news, Papa Johns' stock price fell $5.11 or 17.18%, to close at $24.64 per share on August 6, 2026, thereby injuring investors.

What is the Papa John's International, Inc. lawsuit about?

The Papa John's International, Inc. securities lawsuit alleges that, between August 7, 2025 and August 5, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Papa John's International, Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) Defendants created the false impression that they possessed reliable information pertaining to the effectiveness and ongoing impact of the Company's strategic transformation as well as their resulting projected growth outlook for the North American region; (2) Defendants also minimized the risk of cautious consumer sentiment, competition woes, promotional seasonality, and more general macroeconomic fluctuation; (3) In truth, Papa Johns' strategic transformation was taking considerably longer than the projections had suggested and the Company was simply ill equipped to "meet the consumer where they're at;"; and (4) as a result, defendants' positive statements about Papa John's International, Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

"According to the complaint filed against Papa John's International, Inc., the Company, among other things, did not disclose that Defendants created the false impression that they possessed reliable information pertaining to the effectiveness and ongoing impact of the Company's strategic transformation as well as their resulting projected growth outlook for the North American region. The November 2, 2026 deadline is a key date for Papa John's International, Inc. investors who want a voice in how this case moves forward," said Frank R. Cruz of The Law Offices of Frank R. Cruz.

What should Papa John's International, Inc. investors do now?

The Law Offices of Frank R. Cruz can help Papa John's International, Inc. investors evaluate potential claims to recover their losses.

Investors who want to serve as lead plaintiff in the Papa John's International, Inc. class action must file a motion with the Court by November 2, 2026. For more information, visit the Papa John's International, Inc. case page, email [email protected], or call 310-914-5007.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

Investors may retain counsel of their choice. Papa John's International, Inc. investors who bought during the class period may also take no action and remain absent class members. No class has been certified yet in the Papa John's International, Inc. case.

Questions and answers about the Papa John's International, Inc. lawsuit

Who is eligible? Investors who bought Papa John's International, Inc. securities between August 7, 2025 and August 5, 2026 and lost money may be class members, and may seek lead plaintiff appointment by November 2, 2026.

What does a lead plaintiff do? The lead plaintiff is appointed by the court to represent all class members and direct the Papa John's International, Inc. class action.

Must I be lead plaintiff to share in a recovery? No, Papa John's International, Inc. investors can take no action and remain absent class members.

How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so Papa John's International, Inc. investors pay no attorneys' fees up front. Any attorneys' fees and litigation expenses come only from a recovery, if there is one, and require court approval.

About The Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.

Prior results do not guarantee a similar outcome.

Related links

Papa John's International, Inc. case page, The Law Offices of Frank R. CruzComplaint: Hale v. Papa John's International, Inc., et al., U.S. District Court for the Western District of Kentuckypress releasePapa John's International, Inc. SEC filings index, EDGARThe Law Offices of Frank R. CruzFollow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW

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

SOURCE The Law Offices of Frank R. Cruz, Los Angeles

Midnight Network has surpassed 1 million mainnet transactions within seven months of launch, as on-chain activity surged by 26,508% over the past month.

At press time, the Midnight network had recorded 1,094,866 (1.094 million) transactions and deployed 1,434 smart contracts, according to data from Midnight Explorer. Meanwhile, its latest recorded block had reached 3,222,903 (3.22 million), highlighting the network’s growing activity. 

Midnight Transaction Stats
Midnight Transactions Surge in October
Midnight recorded relatively low transaction volumes during its early days, with daily counts in the hundreds. For instance, the network processed just 100 transactions on September 28 before the figure rose to 530 on October 1.

However, activity accelerated sharply throughout October, with daily transaction counts climbing into the tens of thousands. On October 25, Midnight recorded 49,229 transactions in a single day, marking a significant increase from its earlier levels.

Since then, daily activity has declined to 26,608 transactions in the hours leading up to press time. Nevertheless, the network’s daily transaction count remains up 26,508% over the past month, underscoring the scale of its recent growth. 

Midnight Network Transaction History
Possible Factors Behind the Growth
Midnight’s transaction surge coincided with the introduction of permissionless smart contract deployment on its mainnet. The update removed previous developer requirements, including mandatory pre-production reviews and team audits, allowing developers to deploy contracts directly to the network without those additional approval barriers.

Consequently, the change lowered entry barriers for developers and projects seeking to build on Midnight. This expanded access may have contributed to the sharp increase in transaction activity throughout October.

However, the rise in transaction volume does not necessarily indicate sustained demand for Midnight-based applications. 

NIGHT Price Climbs Alongside Network Activity
Midnight’s rising on-chain activity has coincided with an increase in the price of its native token, NIGHT.

At press time, NIGHT had climbed more than 35% over the past month to $0.03933. The token’s market cap stood at $653 million, placing it at No. 76 among cryptocurrencies globally.

Although the simultaneous increases in network activity and NIGHT’s price suggest improving momentum, they do not establish a direct causal relationship between transaction growth and market performance. 

Following Midnight’s impressive rally earlier this month, proponents of the Cardano sidechain have been weighing the possibility of the token eventually reaching the $1 mark.

NIGHT recorded a significant price increase this month, climbing from around $0.028 in late September to $0.05247 on October 3, representing an 87.39% surge. However, the token has since retraced some of its gains and trades at $0.03904 at press time.

Despite the pullback, NIGHT remains up 37.3% over the past month, although it has declined 7.2% over the past week. Nevertheless, the recent rally has renewed speculation about the token’s potential to reach $1. 

NIGHTMIUSD 2026 10 29 09 58 33
NIGHT Has Never Reached $1
Notably, CoinMarketCap has displayed historical data suggesting that NIGHT reached $1.81 during its early days. However, the token has never traded near that level, a claim Cardano founder Charles Hoskinson has vehemently disputed. 

Instead, NIGHT recorded an all-time high of $0.1185 a few days after its launch. Consequently, a rally to $1 would establish a new all-time high for the token.

However, reaching this milestone would require a substantial price increase. At its current price of $0.03904, NIGHT would need to climb 2,461.5% to reach $1.

Such a rally would also push its market cap to $16.6 billion, assuming its circulating supply remains at 16.6 billion tokens. This valuation would place NIGHT among the top 20 crypto assets, provided competing cryptocurrencies do not experience comparable growth.

Potential Timeline for NIGHT to Reach $1 
Interestingly, prediction platform Telegaon suggests that NIGHT could eventually reach the $1 milestone by 2040, approximately 14 years from now. Its projection further suggests that the token could climb to around $1.25 during that period. 

NIGHT to $1 Forecast at Telegaon
Meanwhile, ChatGPT has outlined a scenario-based forecast identifying 2027–2028 as a speculative window to monitor for NIGHT’s potential rise to $1, although a rally could occur as early as late 2026 under favorable conditions.

Such an outcome would likely depend on several factors, including a bullish broader crypto market, increased staking participation, greater developer adoption, successful cross-chain integrations, and sustained demand for NIGHT.

Furthermore, the 2028–2030 period could give Midnight more time to attract institutional and commercial users, potentially strengthening its ecosystem and supporting long-term demand for the token.

However, this timeline represents a long-term forecast rather than a guaranteed outcome. NIGHT’s ability to sustain demand and expand its ecosystem over the coming years will likely influence its long-term price trajectory. 

ChatGPT $1 Price Forecast for NIGHT
Midnight Records Major Ecosystem Milestones
Meanwhile, the Midnight ecosystem continues to record notable developments that could support its long-term growth. These include integrations involving major blockchain ecosystems such as Ethereum and TRON, alongside the Midnight mainnet surpassing the one-million-transaction milestone.

These developments indicate growing activity and expanding interoperability ambitions. However, network milestones alone do not guarantee sustained token appreciation.

고객센터

공지사항혜택·이벤트업비트소식거래 이용 안내수수료 안내입출금 이용 안내입출금 현황시장경보 현황Open API 안내정책 및 거래지원 문의1:1 문의하기문의내역이용자 가이드카카오톡 문의(24시간)증명서 발급공시 안내일일대사 결과 공시공지사항

입출금

NEW

NEO N3 네트워크 계열 디지털 자산 입출금 일시 중단 안내

안녕하세요. 가장 신뢰받는 디지털 자산 거래소 업비트입니다.

NEO N3 네트워크 계열 블록 생성 지연으로, 입출금을 일시 중단합니다.(가상자산이용자보호법 시행령 제17조 제1호 가목)

상세 내용

대상 디지털 자산
네오(NEO), 가스(GAS) - NEO N3 네트워크
중단 범위 : 대상 디지털 자산 입출금
중단 사유 : 블록 생성 지연
중단 기간 : 공지사항 등록 시점 ~ 입출금 안정성 확인 후 본 공지사항을 통해 지원 재개 안내 예정

*해당 디지털 자산의 거래는 중단 없이 지원됩니다.

유의사항

입출금 중단 기간 동안 아래 내용을 유의해주시기 바랍니다.
입금 반환 및 출금주소 등록 절차는 일시 중단되며, 입출금 재개 이후 순차적으로 처리될 예정입니다.
해당 디지털 자산 입금 시, 업비트 계정에 입금이 반영되지 않을 수 있으며, 이 경우 복구가 불가능할 수 있습니다.
입출금 중단 중에는 네트워크 혼잡 등의 사유로 입금 처리에 지연이 발생할 수 있으며, 블록체인 네트워크상 트랜잭션의 컨펌 완료 시점과 입금 반영 시점에 차이가 있을 수 있습니다.
입출금 중단 시점 전후 또는 예정되지 않은 점검 발생 시, 일부 블록체인 네트워크에서 입출금이 발생할 수 있으나, 점검 기간 중에는 당사 월렛 시스템상 정상 처리가 불가하여, 종료된 이후 확인 과정을 거쳐 순차적으로 처리될 예정입니다. 이에 회원님 계정에 반영처리가 지연될 수 있음을 양해 부탁드립니다.

업비트는 회원님의 자산을 안전하게 보호하기 위해 프로젝트팀과 긴밀히 협력할 예정이며, 관련하여 추가 또는 변경 사항이 발생할 경우 본 공지사항을 통해 안내드리겠습니다.

감사합니다.

※ 가상자산은 고위험 상품으로 투자금의 전부 또는 일부 손실을 초래할 수 있습니다.

공유

Key Takeaways Avery Dennison's Q3 adjusted EPS rose 2.1% y/y to $2.42, beating estimates of $2.30.Sales grew 5.2% to $2.33B, driven by pricing, high-value categories and productivity initiatives.Avery Dennison expects 2026 adjusted EPS of $10.10-$10.24 and incremental restructuring savings above $65M.
Avery Dennison Corporation (AVY - Free Report) has reported adjusted earnings of $2.42 per share for the third quarter of 2026, up 2.1% from $2.37 in the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $2.30.

Including one-time items, earnings were $2.24 per share compared with $2.13 a year ago.

Sales increased 5.2% year over year to $2.33 billion, beating the consensus estimate of $2.30 billion. Organic sales improved 3.7%, supported by pricing gains, growth in high-value categories and productivity initiatives despite customer inventory destocking.

AVY's Q3 Margins ContractThe cost of sales increased 6.1% year over year to $1.68 billion. Gross profit rose 3.1% to $655 million. However, the gross margin contracted to 28.1% from 28.7% in the prior-year quarter.

Marketing, general and administrative expenses increased to $373 million from $354 million a year ago. Adjusted operating income inched up 0.4% to $282.1 million. The adjusted operating margin declined 60 basis points to 12.1%.

Adjusted EBITDA increased 0.7% to $367.7 million. The corresponding margin contracted 70 basis points to 15.8%. Higher employee-related costs and unfavorable volume/mix dynamics weighed on profitability, partially offsetting productivity gains.

Avery Dennison’s Q3 Segments PerformanceRevenues in the Materials Group segment increased 8.5% year over year to $1.64 billion in the reported quarter. Our estimate was $1.61 billion. On an organic basis, sales improved 4.9%, driven by low-single-digit volume and mix growth, and a mid-single-digit increase in pricing.

The segment’s adjusted operating profit increased 0.4% year over year to $231.1 million. Our estimate was $235.5 million. The adjusted operating margin contracted to 14.1% from 15.2% in the prior-year quarter.

Revenues in the Solutions Group declined 1.8% year over year to $687 million. Our estimate was $692 million. On an organic basis, sales improved 0.8%, with overall apparel categories registering mid-single-digit growth.

AVY's Cash Flow & Balance Sheet PositionThe company returned $481 million in cash to shareholders through share repurchases and dividend payments in the first nine months of 2026. AVY repurchased 1.5 million shares, with payments totaling $257 million.

Avery Dennison ended the third quarter of 2026 with cash and cash equivalents of $271 million compared with $536 million at the end of the year-ago period.

The company’s long-term debt and finance leases were $3.17 billion at the end of the third quarter, down from $3.20 billion in the year-ago period. Its net-debt-to-adjusted-EBITDA ratio was 2.2X.

AVY realized approximately $54 million in pre-tax savings from restructuring actions in the first nine months of 2026. The company also incurred around $43 million in pre-tax restructuring charges.

Avery Dennison's 2026 Outlook Reflects DestockingAVY expects adjusted earnings between $10.10 and $10.24 per share for 2026 compared with the previous guidance of $10-$10.30.

The outlook assumes reported sales growth of 5.5% and organic growth of 3.5%. The company expects most remaining customer inventory destocking from the first half to occur in the fourth quarter, alongside an estimated 1.5% sales headwind from calendar adjustments.

AVY expects more than $65 million in incremental restructuring savings, up from its previous projection of more than $60 million. It is targeting adjusted free cash flow conversion of at least 100%, with fixed and information technology capital spending of approximately $240 million, down from the earlier estimate of $260 million.

AVY Stock’s Price PerformanceThe company’s shares have gained 2.5% in the past year compared with the industry’s growth of 10.7%.

Image Source: Zacks Investment Research

Avery Dennison’s Zacks RankPerformances of Other Packaging StocksPackaging Corporation of America (PKG - Free Report) reported third-quarter 2026 adjusted earnings of $3.04 per share, up 11.4% year over year and beating the Zacks Consensus Estimate of $2.95 by 3.05%. The bottom line also exceeded the company's guidance of $2.91, driven by favorable price and mix in the Packaging segment and contributions from the acquired operations.

Packaging Corp’s net sales increased 12.5% year over year to $2.60 billion and beat the consensus estimate of $2.56 billion.

Sonoco Products Company (SON - Free Report) reported adjusted earnings of $1.67 per share in the third quarter of 2026, missing the Zacks Consensus Estimate of $1.76. The figure dipped 13% from $1.92 in the year-ago quarter.

Sonoco’s net sales of $2.04 billion declined 4.2% year over year and missed the consensus mark of $2.09 billion.

Packaging Stocks Awaiting ResultsBall Corporation (BALL - Free Report) is scheduled to release third-quarter 2026 results on Nov. 3. The Zacks Consensus Estimate for BALL’s third-quarter 2026 earnings is pegged at $1.06 per share, suggesting year-over-year growth of 3.9%.

The Zacks Consensus Estimate for Ball Corp’s top line is pegged at $3.74 billion, indicating growth of 10.6% from the prior-year reported figure.