Market Signal Briefing

BYD has come to dominate China's new energy vehicle market -- the world's largest.

Chinese auto giant BYD sold 2.26 million electric vehicles last year, a company statement showed Thursday, setting a new record for any firm globally.

The figure puts BYD in pole position to outstrip Elon Musk's Tesla in the annual category for the first time, with the lagging Texas-based firm having previously announced 1.22 million in 2025 EV sales by the end of September.

Tesla is expected to announce its total EV sales for last year on Friday.

Shenzhen-based BYD, which also produces hybrid cars, announced the data in a statement published to the Hong Kong Stock Exchange, where it is listed.

Known as "Biyadi" in Chinese—or by the English slogan "Build Your Dreams"—BYD was founded in 1995, originally specializing in battery manufacturing.

The automotive juggernaut has come to dominate China's highly competitive new energy vehicle market—the world's largest.

Now it is seeking to expand its presence overseas, as increasingly price-wary consumption patterns in China weigh on profitability.

BYD and its Chinese competitors face hefty tariffs in the United States.

But its success is growing in Southeast Asia, the Middle East, and even Europe—to the consternation of traditional industry heavyweights from the continent.

Tesla narrowly beat BYD in annual EV sales in 2024, with US company's 1.79 million just outpacing the latter's 1.76 million.

This year, Musk's firm has seen sales struggle in key markets over the CEO's political support of US President Donald Trump and far-right politicians.

Tesla has also faced rising EV competition from BYD and other Chinese companies, as well as from European giants.

© 2026 AFP

, /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of America's Car-Mart, Inc. (NASDAQ: CRMT) resulting from allegations that America's Car-Mart may have issued materially misleading business information to the investing public.

So What: If you purchased America's Car-Mart securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=46025 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On September 4, 2025, during market hours, Benzinga published an article entitled "America's Car-Mart Stock Plunges After Sales Volume Dip, Delinquency Uptick." The article stated that America's Car-Mart, Inc. stock was trading "lower after the company reported first-quarter results. The company reported a first-quarter loss of 69 cents per share, compared with a net loss of 15 cents per share in the year-ago period."

On this news, America's Car-Mart's stock fell 18.2% on September 4, 2025.

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

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

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

Contact Information:

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

SOURCE THE ROSEN LAW FIRM, P. A.

LOS ANGELES, Jan. 01, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Integer Holdings Corporation (“Integer” or “the Company”) (NYSE: ITGR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between July 25, 2024 and October 22, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before February 9, 2026.

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

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Integer exaggerated its competitive positioning in the electrophysiology (“EP”) market. The Company suffered a weakening in sales of several different EP devices. The Company falsely claimed EP devices would be a long-term growth driver within the cardio and vascular (“C&V”) segment. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Integer, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

LOS ANGELES, Jan. 01, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against F5, Inc. (“F5” or “the Company”) (NASDAQ: FFIV) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between October 28, 2024 and October 27, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before February 17, 2026.

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

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. F5 touted the strength of its security and ability to fulfill customer needs. In reality, the Company suffered a security incident putting its customers and growth prospects at risk. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about F5, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

NEW YORK, Jan. 01, 2026 (GLOBE NEWSWIRE) --

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

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

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=49293 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On December 12, 2025, Investing.com published an article entitled “New Era Energy & Digital stock falls after Fuzzy Panda short report.” The article stated that New Era Energy & Digital stock “tumbled” after “short seller Fuzzy Panda Research released a scathing report targeting the company.” Further, the article stated that Fuzzy Panda’s short report, “titled ‘NUAI: Serial Penny Stock CEO Combined Bad Gas Assets, Paid Stock Promo, Renamed Co & Added ’AI’,’ alleges that the company spent 2.5 times more on stock promotions than on operating its oil and gas wells. Fuzzy Panda claims CEO E. Will Gray II has a history of running penny stock companies “into the ground” over approximately 20 years.”

On this news, New Era Energy & Digital’s stock fell 6.9% on December 12, 2025.

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

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

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

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

Contact Information:

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

The equipment and machinery company is a hidden artificial intelligence stock.

Caterpillar (CAT 0.66%) shares have outperformed the S&P 500 index over the last year, three years, and five years, and by pretty wide margins, too. Perhaps the most surprising outperformance comes over the previous year (58.6% versus 15.7%), not least because it stems from a reason that most investors wouldn't have considered a year or two ago.

A cyclical stock
As the chart below indicates, Caterpillar's earnings, measured here in terms of earnings before interest, taxation, depreciation, and amortization (EBITDA), tend to be highly cyclical. That's understandable, as its core businesses are construction and mining machinery. The former tends to be closely tied to the global economy and infrastructure spending, while the latter fluctuates with mining commodity prices and the willingness of miners to invest in capital expenditures.

Today's Change

(

-0.66

%) $

-3.79

Current Price

$

573.60

These patterns indicate that Caterpillar's EBITDA tends to fluctuate significantly, and so does its valuation, as measured here using enterprise value (EV), which represents market capitalization plus net debt.

It's a classic cyclical stock, its valuation (EV/EBITDA) tending to trough just as EBITDA is about to collapse and to peak just as its EBITDA is about to turn up. This is totally normal behavior, as the valuation anticipates the next move ahead.

CAT EV to EBITDA data by YCharts

What the chart says now about Caterpillar
Continuing this line of thought, and given that Caterpillar's valuation is close to a recent historical high, it follows that the market believes Caterpillar's earnings are about to improve in the coming years.

The optimism stems from enthusiasm over the growth in its power generation equipment business, which includes diesel and natural gas-powered power equipment used as primary and backup power sources for data centers. Additionally, it has recently signed a deal to integrate its turbines and engines with Vertiv's power and cooling solutions for data centers.

While Caterpillar's power generation business accounted for only 15.7% of total equipment sales in the third quarter, it grew by $623 million from the same quarter in 2024, representing a 31% increase. Meanwhile, the rest of Caterpillar's equipment sales grew by $872 million.

Data source: Caterpillar presentations. Chart by author.

A hidden artificial intelligence stock
Investors are probably factoring in substantive growth from Caterpillar's exposure to AI/data center spending as well as the possibility of lower interest rates stimulating construction spending, ongoing infrastructure development, and solid growth in mining machinery sales.

It's enough to have caused substantial outperformance over the last few years.

Amid a sharp run and plenty of whiplash, one investor doubled down on a regional bank posting triple-digit quarterly profits and quietly improving its balance sheet.

On November 13, Florida-based HoldCo Asset Management disclosed a buy of 1.2 million shares of Eastern Bankshares (EBC 0.49%), increasing its position by approximately $36.79 million.

What HappenedAccording to a filing with the Securities and Exchange Commission (SEC) dated November 13, HoldCo Asset Management increased its stake in Eastern Bankshares (EBC 0.49%) by acquiring 1.2 million additional shares in the third quarter. The value of the EBC position rose to $116.32 million at quarter-end, positioning it as the fund’s fourth-largest equity holding.

What Else to KnowEBC represented about 12.28% of HoldCo’s 13F AUM as of September 30.

Top holdings after the filing: 

NYSE: CMA: $156.94 million (16.6% of AUM)NASDAQ: COLB: $147.30 million (15.5% of AUM)NASDAQ: FIBK: $125.89 million (13.3% of AUM)NASDAQ: EBC: $116.32 million (12.3% of AUM)NYSE: CFG: $110.91 million (11.7% of AUM)As of Thursday, EBC shares were priced at $18.43, up about 7% over the past year and well outperforming the S&P 500, which is instead up about 16%.

Company OverviewMetricValuePrice (as of Thursday)$18.43Market capitalization$4.15 billionRevenue (TTM)$651.22 millionNet income (TTM)$49.48 millionCompany SnapshotEastern Bankshares offers a comprehensive suite of retail, commercial, and small business banking products, including deposits, lending, cash management, insurance, and wealth management services.The company generates revenue primarily through interest income on loans and deposits, as well as fee-based income from insurance, investment, and trust services.It serves retail customers, small businesses, and commercial clients, with a strong presence in eastern Massachusetts and southern New Hampshire.Eastern Bankshares is a regional financial institution with a diversified product set spanning traditional banking, insurance, and wealth management. The company leverages its longstanding regional presence and multi-channel distribution to serve both consumer and business clients. Its scale and breadth of services position it competitively within the New England regional banking market.

Foolish TakeEastern Bankshares stock surged in the third quarter as earnings momentum improved after a volatile first half of the year. Stepping in during that upswing suggests confidence that the fundamentals are doing more than just riding rate cycles.

The latest quarter helps explain why. Eastern posted net income of $106.1 million, or $0.53 per diluted share (up 6%), while operating earnings came in at $0.37. Meanwhile, loan growth remained steady, up 1.3% quarter over quarter, driven by commercial lending, while wealth management assets hit a record $9.2 billion. In the earnings release, CEO Denis Sheahan touted the bank as a “dense and geographically compact franchise with the scale to compete with larger banks.”

Finally, it’s important to note that this portfolio leans heavily toward other regional banks and financials, with similarly sized allocations to Comerica, Columbia Banking System, and Fifth Third. That makes this less a one-off bet and more a thematic view that select banks can compound value despite sector volatility.

GlossaryAsset management: The professional management of investments on behalf of clients or institutions.

Buy (in fund context): An institutional purchase of additional shares, increasing the fund's ownership in a company.

Position: The amount of a particular security or asset held by an investor or fund.

Reportable U.S. equity assets under management (AUM): The total value of U.S. stocks a fund manages and must disclose in regulatory filings.

13F AUM: The value of assets reported by institutional investment managers in quarterly SEC Form 13F filings.

Holding: A specific asset or security owned within a fund or portfolio.

Quarter (financial): A three-month period used by companies for financial reporting and performance measurement.

Stake (in company): The ownership interest an investor or fund has in a company, usually measured by shares held.

Market close: The end of the regular trading session for a stock exchange on a given day.

Fee-based income: Revenue earned from providing services, such as investment or insurance advice, rather than from interest.

Multi-channel distribution: Using multiple methods, such as branches, online, and mobile, to deliver products and services to customers.

TTM: The 12-month period ending with the most recent quarterly report.

NEW YORK, Jan. 01, 2026 (GLOBE NEWSWIRE) --

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

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

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=15814 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On November 2, 2025, Alvotech issued a press release entitled “Alvotech Provides Update on the Status of U.S. Biologics License Application for AVT05.” It stated that the “U.S. Food and Drug Administration (FDA) has issued a complete response letter (CRL) for Alvotech’s Biologics License Application (BLA) for AVT05, in a prefilled syringe and autoinjector presentations[.]” Further, the “CRL noted that certain deficiencies, which were conveyed following the FDA’s pre-license inspection of Alvotech’s Reykjavik manufacturing facility that concluded in July 2025, must be satisfactorily resolved before this BLA for AVT05 can be approved.”

On this news, Alvotech’s stock price fell 34% on November 3, 2025, and nearly 4% on November 4, 2025.

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

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

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

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

Contact Information:

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

Original U.Today article

Thu, 1/01/2026 - 16:24

Can the rate of Bitcoin (BTC) fix above $90,000 by the end of the week?

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.

The market is mainly falling on the first day of the new year, according to CoinStats.

Top coins by CoinStatsBTC/USDThe price of Bitcoin (BTC) has declined by 0.41% over the last 24 hours.

Image by TradingViewOn the hourly chart, the rate of BTC is breaking the local resistance of $87,881. If buyers can hold the initiative and keep the price above that mark, the growth is likely to continue to the $88,500 area.

Image by TradingViewOn the bigger time frame, the picture is less bullish. The price of the main crypto has not bounced off far from the support at $86,561.

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The volume is also low, which means traders might not see sharp ups or downs by the end of the week.

Image by TradingViewFrom the midterm point of view, the situation is neutral. The rate of BTC is in the middle of the wide channel between the support at $80,836 and the resistance at $94,172. As neither side is dominating, consolidation in the area of $85,000-$90,000 is the more likely scenario.

Bitcoin is trading at $87,906 at press time.

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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.

Ethereum just closed the fourth worst Q4 in its history. According to CoinGlass data shared by Wu blockchain, Ethereum closed Q4 2025 with a 28.28% loss to mark the fourth worst Q4 performance in its history.

Ethereum declined from September to December, marking a bearish end to the year 2025. The second largest cryptocurrency closed December down 0.84%, marking four straight months of decline.

Ethereum ended December with little sign of the year-end rally that traders often rely on, capping a red Q4 amid thin liquidity and risk appetite waning.

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According to Coinglass data, Bitcoin’s return in Q4 2025 was -23.07%, well below the historical average of 77.07% and the median of 47.73%, marking the second-worst Q4 performance on record, behind only Q4 2018 at -42.16%. Ethereum’s return in Q4 2025 was -28.28%, ranking as the… pic.twitter.com/Fh34X9QcvW

— Wu Blockchain (@WuBlockchain) January 1, 2026 The crypto market's "Santa rally" never really arrived as repeated attempts to reclaim key levels were sold into, while Ethereum fell lower.

According to Glassnode, ETF flows show no renewed demand at 2025's close, with the 30 day SMA of netflows for both Bitcoin and Ethereum ETFs remaining negative.

This matters because crypto has historically relied on strong late-year flows to set up early-cycle momentum.

Ethereum ended 2025 with 11% amid waning momentum after reaching a record of nearly $5,000 in August of the year.

What's ahead in 2026?Ethereum developers have agreed on the timing of ETH network’s second major upgrade in 2026.

Hegota will follow Glamsterdam, Ethereum’s next major upgrade, which is currently expected to roll out in the first half of 2026.

According to Ethereum creator Vitalik Buterin, Ethereum did a lot in 2025: gas limits increased, blob count increased, node software quality improved and zkEVMs hit various performance milestones.

Going forward, Buterin says that Ethereum needs to do more to meet its own stated goals, adding that the mission remains building a world computer that serves as a central infrastructure piece of a more free and open internet.

The year 2025 will be remembered as the moment crypto futures trading stopped being a theoretical risk and became a measurable systemic failure. By year’s end, more than $154 billion in forced liquidations had been recorded across perpetual futures markets, according to aggregated data from Coinglass, translating to an average of $400–500 million in daily losses.

What unfolded across centralized and decentralized derivatives venues was not a single black swan event, but a slow-motion structural unwind.

Why Perpetual Futures Became Liquidation Engines in 2025The scale was unprecedented, with Coinglass’ 2025 crypto derivatives market annual report showing $154.64 billion in total liquidations for the past year.

Total Liquidations in 2025. Source: CoinglassYet the mechanics behind the losses were neither new nor unpredictable. Throughout the year, leverage ratios increased, funding rates issued persistent warnings, and exchange-level risk mechanisms proved to be deeply flawed under stress.

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Retail traders, drawn in by the promise of amplified gains, absorbed the bulk of the damage.

The breaking point arrived on October 10–11, when a violent market reversal liquidated over $19 billion in positions within 24 hours, the largest single liquidation event in crypto history.

Long positions were disproportionately affected, accounting for an estimated 80–90% of liquidations, as cascading margin calls overwhelmed order books and insurance funds alike.

Drawing from on-chain analytics, derivatives data, and real-time trader commentary on Twitter (now X), three core mistakes stand out. Each contributed directly to the magnitude of losses witnessed in 2025, and each carries critical lessons for 2026.

Mistake 1: Over-Reliance on Extreme LeverageLeverage was the primary accelerant behind 2025’s liquidation crisis and arguably the leading crypto futures trading mistake. While futures markets are designed to enhance capital efficiency, the scale of leverage deployed throughout the year crossed from strategic to destabilizing.

CryptoQuant data indicates that the Bitcoin Estimated Leverage Ratio reached a record high in early October, just days before the market’s collapse.

At the same time, total futures open interest exceeded $220 billion, reflecting a market saturated with borrowed exposure.

Bitcoin Estimated Leverage Ratio across Exchanges. Source: CryptoQuantOn major centralized exchanges, estimated leverage ratios for BTC and ETH frequently surpassed 10x, with a meaningful portion of retail traders operating at 50x or even 100x.

“High-leverage trading can be a double-edged sword…It offers a tantalizing opportunity for profit, but… can lead to some pretty devastating losses,” OneSafe analysis noted.

Coinglass data from late 2025 illustrated the fragility of this structure. While the long-to-short ratio remained near equilibrium (approximately 50.33% long versus 49.67% short), a sudden price move triggered a 97.88% surge in 24-hour liquidations, reaching $230 million in a single session.

Balanced positioning did not equate to stability. Instead, it meant both sides were equally overextended.

During the October crash, liquidation data revealed a brutal asymmetry. Long positions were systematically wiped out as price declines forced market sells, pushing prices lower and liquidating the next tier of leverage.

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“In 2025, the casino side of crypto finally showed its true cost. More than $150B in forced liquidations vaporized leveraged futures positions… Most people are not trading anymore; they are feeding liquidation engines,” remarked one crypto researcher.

This was not hyperbole. Futures markets are mechanically designed to close positions at predefined thresholds. When leverage is excessive, even modest volatility becomes fatal.

Liquidity evaporates precisely when it is needed most, and forced selling replaces discretionary decision-making.

Excessive Leverage May Have Capped Crypto’s Bull MarketSome analysts argued that leverage did more than wipe out traders; it actively suppressed the broader market.

One thesis suggested that had the capital lost to forced liquidations remained in spot markets, crypto’s total market capitalization could have expanded toward $5–6 trillion, rather than stalling near $2 trillion. Instead, leverage-induced crashes repeatedly reset bullish momentum.

Leverage itself is not inherently destructive. However, in a 24/7, globally fragmented, reflexive market, extreme leverage transforms futures venues into extraction mechanisms.

This tends to favor well-capitalized players over undercapitalized retail participants.

Mistake 2: Ignoring Funding Rate DynamicsFunding rates were among the most misunderstood and misused signals in 2025’s derivatives markets. Designed to keep perpetual futures prices anchored to spot markets, funding rates quietly convey crucial information about market positioning.

When funding is positive, longs pay shorts, signaling excess bullish demand. When funding turns negative, shorts pay longs, reflecting bearish overcrowding.

In traditional futures markets, contract expiration naturally resolves these imbalances. Perpetuals, however, never expire. Funding is the only pressure valve.

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Throughout 2025, many traders treated funding as an afterthought. During extended bullish phases, the funding rates for BTC and ETH remained persistently positive, slowly eroding long positions through recurring payments.

Rather than interpreting this as a warning of crowding, traders often viewed it as confirmation of trend strength.

On-chain data indicate that DEX perpetual volumes reached a peak of over $1.2 trillion per month, reflecting the explosive growth in leverage usage.

“…decentralized exchanges (DEXs) have been processing perp volumes of over US$1.2T per month as of end-2025, with Hyperliquid still taking a large share of this market,” wrote David Young, Coinbase Global Head of Investment Research.

Hyperliquid accounted for the lion’s share of the DEX volumes. Yet few retail participants adjusted positioning in response to funding extremes.

“The funding rate isn’t an inefficiency. It’s the market telling you there’s an imbalance. When you collect funding, you’re being paid to provide liquidity—and to take real risk,” wrote one trader.

Those risks materialized violently. Sustained negative funding episodes emerged as prices stabilized, signaling heavy short positioning.

Historically, such conditions have preceded sharp rallies. In 2025, they again acted as fuel for short squeezes, punishing traders who mistook negative funding for directional certainty.

Compounding the issue, funding dynamics began to sync with DeFi lending markets during periods of volatility. As traders borrowed spot assets to hedge or short futures, platforms like Aave and Compound saw utilization rates spike above 90%, driving borrowing costs sharply higher.

2/ In stable markets, Perpetual Funding Rates and Lending Borrow Rates (Aave/Compound) live in parallel. They rarely touch.

But during the volatility of 2025, they synced up.
– The Mechanism: Negative funding triggered massive spot borrowing to short.
– The Result: Aave… pic.twitter.com/89iER83l3W

— Woof (@woof_software) December 30, 2025
The result was a hidden feedback loop: funding losses on perps paired with rising interest expenses on borrowed collateral.

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What many perceived as neutral or low-risk strategies quietly bled capital from both sides. Funding was not free money. It was compensation for providing balance to an increasingly unstable system.

Mistake 3: Over-Trusting ADL Instead of Using Stop LossesAuto-deleveraging (ADL) was the final shock that many traders were unaware of until it wiped out their positions.

ADL is designed as a last-resort mechanism, triggered when exchange insurance funds are depleted, and liquidations leave residual losses. Instead of socializing those losses, ADL forcibly closes positions of profitable traders to restore solvency. A combination of profit and effective leverage typically determines priority.

In 2025, ADL was no longer theoretical.

During the October liquidation cascade, insurance funds across multiple venues were overwhelmed. As a result, ADL triggered en masse, often closing profitable shorts first, even as broader market conditions remained hostile. Traders running hedged or pairs strategies were hit particularly hard.

“Imagine getting your short closed first and then getting liquidated on your long. Rekt,” wrote Nic Pucrin, CEO and co-founder of Coin Bureau, in response to the October crash.

ADL operates at the single-market level, without regard for portfolio-wide exposure. A trader may appear highly profitable on one instrument while being perfectly hedged across others. ADL ignores that context, breaking hedges and exposing accounts to naked risk.

Critics argue that ADL is a relic of early isolated-margin systems and does not scale to modern cross-margin or options-based environments. Some exchanges, including newer on-chain platforms, have explicitly rejected ADL in favor of socialized loss mechanisms, which defer and distribute losses conditionally rather than crystallizing them instantly.

For retail traders, the lesson was unequivocal. ADL is not a safety net. It is an exchange-level solvency tool that prioritizes platform survival over individual fairness. Without strict, manual stop-losses, traders were exposed to total account wipeouts, regardless of their leverage discipline.

Lessons for 2026Crypto derivatives will remain a dominant force in 2026. Futures markets offer liquidity, price discovery, and capital efficiency that spot markets cannot match. However, the events of 2025 made one truth unavoidable: structure matters more than conviction.

Over-leverage transforms volatility into annihilation.
Funding rates reveal crowding long before price reacts.
Exchange risk mechanisms are designed to protect platforms, not traders.
The $154 billion lost in 2025 was not an accident. It was tuition paid for ignoring the mechanics of the market. Whether 2026 repeats the lesson will depend on whether traders finally choose to learn it.

TLDR:

Bitcoin’s post-halving year closed negative for the first time, ending a 14-year pattern

Supply shock impact diminished as 2024 halving reduced daily issuance by only hundreds of BTC

Liquidity conditions and interest rates now drive Bitcoin more than traditional halving cycles

Institutional flows and business cycles have replaced retail speculation as primary market forces

Bitcoin has broken its traditional four-year cycle for the first time since its inception. The leading cryptocurrency closed 2025 in negative territory, marking an unprecedented shift in its historical pattern. 

This development challenges the predictable rhythm that has defined Bitcoin markets for over a decade. 

Market observers note that 2024’s halving year ended strong, but the following year failed to maintain momentum. The shift suggests fundamental changes in how Bitcoin responds to market forces.

Historical Cycle Pattern Disrupted
Bitcoin’s price behavior has followed a consistent pattern since 2012. Previous cycles showed halving years typically closing with gains. 

The year following each halving event delivered even stronger performance. This pattern held through multiple cycles until now.

Bull Theory highlighted this change on social media platforms. According to their analysis, 2025 represents the first post-halving year to close with losses. 

The pattern break comes after 14 years of relatively predictable market behavior. Analysts had long relied on this cycle to forecast Bitcoin’s trajectory.

BITCOIN HAS BROKEN THE TRADITIONAL 4-YEAR CYCLE FOR THE FIRST TIME IN 14 YEARS.

For the first time in Bitcoin’s history, the post-halving year has closed in red.

In past cycles, the pattern was consistent:

– Halving year usually closes green
– The year after the halving has… pic.twitter.com/48pagAoWps

— Bull Theory (@BullTheoryio) January 1, 2026

The disruption does not necessarily indicate weakness in Bitcoin fundamentals. Market dynamics have evolved considerably since earlier cycles. 

Traditional metrics that once drove price action now share influence with broader economic factors. This evolution reflects Bitcoin’s growing integration into global financial systems.

Liquidity and Institutional Forces Take Center Stage
Early Bitcoin cycles were dominated by supply shock effects from halving events. Retail speculation fueled massive price swings during these periods. 

The 2012 halving reduced daily supply by thousands of Bitcoin units. However, the 2024 halving cut only a few hundred coins from daily issuance.

Contemporary Bitcoin markets respond more to macroeconomic conditions. Interest rate policies now significantly influence cryptocurrency valuations. 

Liquidity conditions across financial markets drive Bitcoin price movements. Institutional investment flows have become major determinants of market direction.

The cryptocurrency appears to be transitioning into a liquidity-driven cycle. Business cycle dynamics increasingly correlate with Bitcoin performance. 

This maturation process changes how investors should interpret market signals. The four-year cycle may not be broken but rather evolving into a more complex pattern.

Market participants must adapt their strategies accordingly. Supply-side factors still matter but carry reduced weight. Understanding monetary policy and institutional behavior becomes more critical. 

Bitcoin’s integration into traditional finance brings new variables into price formation. The market’s maturation suggests a more stable but nuanced future ahead.

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XRP is reportedly showing signs of tightening supply, with exchange balances falling to levels not seen in years. Despite this shift, the cryptocurrency’s price remains stuck below $2, highlighting an unusual disconnect between shrinking availability, slow demand, and weak price performance. 

XRP Exchanges Balances Crashes To New Lows
The supply of XRP on crypto exchanges has dropped to an eight-year low, yet the token continues to trade below $2. According to Glassnode data, XRP supply held on exchanges has fallen to 1.6 million tokens. This marks a roughly 57% decline from the 3.76 billion XRP recorded on October 8, 2025, representing the lowest level since 2018.

From a basic economic standpoint, a lower supply combined with rising demand often triggers a price surge in assets. For example, when coins are moved off crypto exchanges into private wallets, they are less available for immediate sale, which can limit supply and potentially support price appreciation. Analysts like X Finance Bull also see declines in exchange balances as a bullish signal that could create a supply shock and potentially spark a rally. 

Source: Glassnode
However, despite exchange balances reaching multi-year lows in this cycle, the XRP price has struggled to maintain upward momentum and has continued to hover around $1.8. This choppy action suggests that reduced supply alone has not been sufficient to sustain a recovery or alleviate ongoing selling pressure. 

Why The Price Remains Stuck Below $2
Although XRP saw a sharp rally that briefly pushed its price above $3 earlier in 2025, that move was short-lived. Constant distributions, negative investor sentiment, and general market volatility have erased much of the gains, pushing the cryptocurrency almost 50% below its former highs. 

XRP continues to struggle to rise above $2 because its repeated breakout attempts have been rejected, keeping it below key resistance levels. This behavior points to weaker demand and lower buyer participation. Persistent selling pressure has also weighed heavily on price. In recent months, accelerated sell-offs have intensified market declines, preventing any meaningful or sustained reversal. 

On-chain metrics also provide extra context for the ongoing weakness. Notably, the portion of XRP’s supply currently in profit has also declined. Over half of the circulating supply is now underwater, increasing the risk of panic selling and reinforcing the ongoing downtrend. 

Broader market conditions also appear to be amplifying XRP’s price struggles. Major cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin, and Solana, are trending lower, reflecting a broader market slowdown that has also weighed on the price.

The combination of these market factors and declining investor sentiment has significantly affected the XRP price, driving it into a downward spiral. While market analysts remain optimistic about the cryptocurrency’s potential for a strong price recovery, XRP remains in the red, having closed 2025 lower and extending its downtrend into 2026 with no immediate rebound in sight. 

Price moving sideways | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

Part of the Team Since

Jun 2025

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

January 1, 2026

Tether acquired 8,888 bitcoin in the fourth quarter of 2025, lifting its total holdings to 96,185 BTC, valued at $8.42 billion, and making it the fifth-largest bitcoin wallet globally.

The $876 million purchase reinforces the stablecoin issuer’s commitment to converting profits into bitcoin reserves, even as institutional appetite for the crypto remains strong despite recent market weakness, especially towards the end of Q4 2025.

Source: TradingViewThe USDT issuer transferred 961 BTC, worth $97.18 million, from Bitfinex on November 7, followed by 8,888.8 BTC, valued at $778 million, on January 1, according to blockchain analytics firm EmberCN.

Tether maintains an average acquisition price of approximately $51,117 across its holdings, generating an unrealized profit of $3.524 billion at current valuations around $88,700 per coin.

Corporate Treasuries Double Down Amid VolatilityGoldman Sachs disclosed purchasing $1.7 billion worth of bitcoin ETFs while Strategy added 1,229 BTC for $108.8 million during the week ending December 28, bringing its treasury to 672,497 bitcoin acquired for $50.44 billion.

The purchases came as bitcoin slid toward $88,000 after failing to hold recent highs near $93,000, driven mainly by short-term price pressure.

Strategy funded its latest acquisition entirely through stock sales under its at-the-market offering program, generating proceeds equal to the bitcoin deployment without issuing preferred shares.

The company’s holdings now carry a 16% unrealized gain relative to its $74,997 average purchase price, while its market capitalization of $46 billion trades near parity with the value of its underlying bitcoin on an enterprise basis.

Japanese investment firm Metaplanet also added 4,279 BTC on December 30, bringing its total holdings to 35,102.

Source: X/@JA_MaartunBitcoin remains approximately 30% below its October all-time high of $126,080 despite trading volume surging 185% to $44.6 billion towards the end of 2025.

Strategic Expansion Beyond Stablecoin OperationsTether’s bitcoin buying program operates under a policy announced in May 2023, committing 15% of quarterly profits to reserve purchases, typically executed on the final day of each quarter or the first day of the following period.

CEO Paolo Ardoino confirmed the Q4 acquisition, maintaining the company’s systematic approach to building bitcoin exposure as USDT circulation surpassed $183 billion.

Beyond treasury operations, Tether led an $8 million investment in Speed1 to develop Lightning Network payment infrastructure and backed crypto lender Ledn as the Bitcoin-backed lending market rebounds toward $60 billion by 2033.

“Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT,” Ardoino stated, framing the investments as an expansion of real-world payment utility.

The company also launched PearPass, a peer-to-peer password manager that eliminates cloud storage vulnerabilities, and pursued a rejected $1.17 billion bid for Juventus Football Club, which would have represented one of European football’s most ambitious crypto acquisitions.

Reports suggest Tether may seek $20 billion in new capital for a 3% ownership stake at a $500 billion valuation.

Market Outlook Balances Institutional Growth With Macro HeadwindsBitcoin closed 2025 trading in a tight $86,500–$90,000 range as U.S. spot ETFs recorded a $355 million net inflow on December 31, breaking a seven-day outflow streak, led by BlackRock’s IBIT, which added $143.8 million.

The inflow followed total weekly outflows of $446 million ending December 29, with bitcoin products losing $443 million according to CoinShares data.

Industry executives expressed measured optimism for 2026 despite recent volatility.

“2025 has shaped up to be a landmark year for crypto, a year where digital assets moved decisively from niche innovation toward foundational financial infrastructure,” Raj Karkara, COO of ZebPay, told Cryptonews, citing regulatory progress including the GENIUS Act and CFTC approval of spot crypto products.

Timot Lamarre, Director of Market Research at Unchained, also identified competing capital flows as a dampening factor.

“In 2025, money that typically would find its way into Bitcoin found its way into other assets. Money seeking risk found its way into Bitcoin treasury companies or the AI industry, and money trying to avoid debasement continued piling into precious metals,” Lamarre explained.

He added that U.S. debt dynamics and potential monetary loosening could position bitcoin as “a leading beneficiary of cheaper and more abundant dollars” ahead.

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Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

Part of the Team Since

Jun 2025

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

Has Also Written

Last updated: 

January 1, 2026

Ethereum co-founder Vitalik Buterin has urged the Ether blockchain community to focus on foundational goals rather than chasing fleeting trends in a New Year address posted January 1.

“Ethereum needs to do more to meet its own stated goals. Not the quest of ‘winning the next meta’ regardless of whether it’s tokenized dollars or political memecoins,” he wrote, arguing the network must resist short-term wins and dedicate efforts toward its original vision of building a truly decentralized world computer.

Welcome to 2026! Milady is back.

Ethereum did a lot in 2025: gas limits increased, blob count increased, node software quality improved, zkEVMs blasted through their performance milestones, and with zkEVMs and PeerDAS ethereum made its largest step toward being a fundamentally…

— vitalik.eth (@VitalikButerin) January 1, 2026
He added that Ethereum’s layer-1 blockchain does not arbitrarily need to convince people to help it fill up blockspace to make ETH ultrasound again.

Ethereum’s Vision Beyond Hype and Third-party DependenceButerin acknowledged Ethereum’s 2025 achievements, including increased gas limits, expanded blob counts, and improved node software quality.

“zkEVMs blasted through their performance milestones, and with zkEVMs and PeerDAS, Ethereum made its largest step toward being a fundamentally new and more powerful kind of blockchain,” he said.

Vitalik also insisted that these technical gains must now translate into applications that operate without fraud, censorship, or third-party interference.

The Ethereum founder emphasized that instead of chasing the next crypto meta in 2026, the Ethereum community needs to stay on the long-term vision.

“To build the world computer that serves as a central infrastructure piece of a freer and open internet.”

According to him, the Ethereum team is building decentralized applications that run without fraud, censorship, or third-party interference.

Applications that pass the walkaway test: they keep running even if the original developers disappear.

Applications where if you’re a user, you don’t even notice “if Cloudflare goes down – or even if all of Cloudflare gets hacked by North Korea,” he explained, painting a picture of platforms whose stability transcends companies, ideologies, and political parties.

An Ethereum developer from zCloak Network challenged this vision, questioning how the network can eliminate Cloudflare reliance while still depending on centralized RPC services for regular users.

I don't think you can get rid of Cloudflare as long as Ethereum still needs centralized RPC service for regular users.

— 0xFrancis (@xiao_zcloak) January 1, 2026
Buterin countered that Ethereum represents a rebellion against centralized control, noting that the shift toward dependence has been recent.

“A generation ago, any wallet, kitchen appliance, book, or car would fulfill every single one of them.”

Today, all of the above are by default becoming subscription services, “consigning you to permanent dependence on some centralized overlord,” he stated, emphasizing how Ethereum aims to restore the autonomy once standard in everyday technology.

Vitalik Addressed Ethereum Scalability Issues and Layer-2 StrategyWhen a Solana NFT collector asked why Ethereum relies heavily on Layer-2 solutions instead of optimizing a single high-performance base layer, Buterin defended the current approach.

He explained Ethereum is working on optimizing its base layer while ensuring the blockchain needs to be “usable, and usable at scale, and (ii) actually decentralized,” adding that “this needs to happen at both (a) the blockchain layer, including the software we use to run and talk to the blockchain, and (b) the application layer.”

Buterin conceded all components require further improvement, but expressed confidence in the path forward.

“Fortunately, we have powerful tools on our side – but we need to apply them, and we will,” the Ethereum co-founder concluded, showing determination to execute the long-term vision.

A Metalex developer praised Buterin’s continued commitment, writing, “I’m so grateful for you and Ethereum, Vitalik. It’s what brought me into crypto and what keeps me here.”

I'm so grateful for you and Ethereum, Vitalik. It's what brought me into crypto and what keeps me here. You could've cashed out and disappeared a long time ago but you are still fighting for cypherpunk values.

— _gabrielShapir0 (@lex_node) January 1, 2026
The developer noted Buterin could have cashed out years ago, but remains dedicated to cypherpunk values.

This New Year message follows Buterin’s recent December essay warning about concentrated power across governments and corporations, where he proposed mandatory technological diffusion as a counterbalance.

Earlier last year, on December 8, Buterin had suggested creating a trustless on-chain futures market for gas fees to bring predictability to Ethereum transaction costs as the network scales.

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TLDR: 

Retail users are now driving institutional blockchain adoption rather than the traditional top-down approach.
XDC Network embeds ISO 20022 compliance directly into infrastructure to ease institutional integration.
Khekade compares blockchain’s current state to a rocket on the launch pad ready for major breakthrough.
Favorable 2026 regulatory environment creates opportunities for mainstream blockchain market integration.

Blockchain adoption has reached a critical inflection point, according to Atul Khekade, co-founder of XDC Network. 

Speaking at the New York Stock Exchange, Khekade outlined how institutional interest and regulatory clarity are propelling the technology forward.

Banking Pain Points Drive Blockchain Innovation
Khekade’s journey into blockchain stemmed from years of frustration with traditional banking systems. Cross-border payments remained painfully slow while trade finance processes required excessive paperwork. 

These inefficiencies created obvious opportunities for technological disruption through distributed ledger solutions.

The XDC Network emerged as a direct response to these challenges. Originally called “Exchange Infinite Digital Coin,” the platform evolved through community collaboration. 

The network now focuses on bridging traditional finance with decentralized finance through real-world asset tokenization.

Trade finance represents a particularly compelling use case for the platform. Transactions that once took days or weeks can now complete in minutes. 

Transparency increases while costs decrease, creating value for all participants in the financial ecosystem.

Retail users are driving institutional adoption rather than the reverse. Financial institutions now respond to customer demands for blockchain-based services. 

This shift reverses the traditional top-down approach where institutions led innovation efforts independently.

Institutional Adoption and Regulatory Tailwinds
Interoperability stands at the core of XDC’s technical strategy. The network maintains compliance with ISO 20022 standards, ensuring alignment with existing regulatory frameworks. 

This approach eases integration for traditional financial institutions exploring blockchain solutions.

Compliance gets embedded directly into the network’s infrastructure rather than added as an afterthought. This design choice builds trust with regulated entities and simplifies the transition process.

Financial institutions can adopt the technology without overhauling their entire compliance apparatus.

Last-mile connectivity ensures smooth integration into everyday transactions. The platform removes complex procedural barriers that historically slowed blockchain adoption. 

Transaction banking and digital asset management become more efficient through these streamlined processes.

Major financial institutions and corporations are showing increased interest in partnerships. The growing recognition from established players validates XDC’s approach to solving real-world problems. 

Trust in the technology continues building as more entities explore practical applications.

The regulatory environment in 2026 appears increasingly favorable for blockchain expansion. Governments are taking more proactive stances toward digital assets and decentralized technologies. 

This shift creates opportunities for broader market integration across multiple jurisdictions.

Khekade compared the current state of blockchain adoption to a rocket on the launch pad. Years of groundwork have positioned the technology for a major breakthrough. 

Both institutions and consumers are embracing cryptocurrency solutions, suggesting the industry has moved past experimental phases into mainstream implementation.

2025 didn’t unfold the way many cryptocurrency investors expected.

Although Bitcoin (BTC) peaked almost precisely in line with its historical four-year cycle, the long-anticipated blow-off top never materialized. Notably, Bitcoin’s gains failed to cascade into the broader market, leaving hopes for a full-fledged altcoin season largely unfulfilled.

As a result, 2026 opens under a cloud of uncertainty. Investor sentiment is extremely negative, marked by caution and skepticism, even as the industry finds itself in an unprecedented position. For the first time in crypto’s 15-year history, institutions, corporations and regulators are largely moving in the same direction, laying the groundwork for broader adoption rather than actively resisting it.

After a year defined by unexpected outcomes, identifying the most compelling investment opportunities for 2026 is no simple task. Still, a persuasive case can be made for focusing on assets and sectors with durable, long-term relevance, rather than relying solely on the predictability of four-year market cycles tied to the Bitcoin halving. 

There is also growing evidence that Bitcoin’s market structure has evolved. Institutional capital, with longer time horizons and stricter mandates, is increasingly influencing price action and liquidity dynamics.

In doing so, these participants may be reshaping crypto market behavior, gradually shifting the narrative away from traditional drivers such as miners, long-term holders and Bitcoin whales.

Against this backdrop, the following are three cryptocurrency investment themes worth watching in 2026.

Bitcoin: Will history repeat, or is the cycle breaking down?Bitcoin is now deep into its fourth halving epoch, and historically, the period following each halving has coincided with the most aggressive phase of the bull market. In prior cycles, Bitcoin typically reached its peak roughly 12 to 18 months after the halving, a pattern that has long shaped investor expectations.

Source: Hunter HorsleyIf history were to follow a familiar script, Bitcoin may have already marked its cycle high in October 2025, after climbing more than 600% from the 2022 lows.

While such a move would be consistent with previous post-bear-market recoveries, it would still represent a comparatively modest gain relative to Bitcoin’s explosive early-cycle rallies, and would reinforce the notion of diminishing returns as the asset matures.

However, not everyone is convinced that past cycles still apply.

According to Bitwise analysts Matt Hougan and Ryan Rasmussen, Bitcoin may be on the cusp of breaking free from its long-standing four-year rhythm altogether.

In 2026, “Bitcoin will break the four-year cycle and set new all-time highs,” they argued, pointing to structural shifts that are reshaping the market. In their view, traditional cycle drivers, such as halving-induced supply shocks, interest-rate volatility and highly leveraged speculative excess, carry less influence than they once did.

While leverage remains a feature of crypto markets, its impact has diminished following a sharp deleveraging phase in late 2025, when a cascade of liquidations wiped out billions in open interest in October. That reset, they suggest, has reduced the probability of a classic blow-off top driven by excess speculation.

More importantly, Hougan and Rasmussen see institutional capital as the defining variable of the next phase. The approval of spot Bitcoin exchange-traded funds (ETFs) in 2024 marked the opening salvo, but broader adoption may still lie ahead.

“The wave of institutional capital that began entering the space in 2024 is likely to accelerate in 2026,” they said, as major wealth platforms such as Morgan Stanley, Wells Fargo and Merrill Lynch expand access and begin allocating on behalf of clients.

A more accommodative monetary backdrop could reinforce that trend. Expected interest rate cuts by the Federal Reserve would improve liquidity conditions, historically a favorable environment for risk assets, including Bitcoin.

This view aligns with the research of Julien Bittel, a Chartered Financial Analyst at Global Macro Investor, who argues that Bitcoin is more closely tied to business and liquidity cycles than to halving schedules alone.

“Based on our work on the business cycle, financial conditions and overall liquidity, the balance of probabilities suggests this cycle extends well into 2026,” Bittel wrote. “In that world, the four-year cycle is effectively dead.”

From a technical perspective, Bitcoin’s price has entered deeply oversold territory on the relative strength index, levels that, in past cycles, have preceded sharp trend reversals. Source: Julien BittelStablecoin infrastructure: Crypto’s quiet success storyBeyond Bitcoin, few blockchain applications have demonstrated clearer real-world utility than stablecoins, digital tokens designed to maintain a stable value by being pegged to fiat currencies such as the US dollar.

Over the past 18 months, the stablecoin market has expanded rapidly, surpassing $300 billion in total circulation, led by dollar-backed tokens such as USDt (USDT) and USDC (USDC).

What began as a tool for crypto traders has increasingly evolved into a foundational layer for payments, settlement and onchain liquidity.

The total stablecoin market capitalization. Source: DefiLlama Regulation has played a central role in that transition. In mid-2025, US lawmakers advanced the GENIUS Act, comprehensive stablecoin legislation aimed at establishing clear rules for issuance, reserves and oversight. The framework, widely regarded as a turning point for the sector, aims to bring stablecoin issuers under a regulated regime while preserving their role in driving financial innovation.

In parallel, US regulators have begun laying the groundwork for broader participation by the banking sector. The Federal Deposit Insurance Corp. has proposed rule-making pathways that would allow regulated banks to issue payment stablecoins through approved subsidiaries, potentially integrating stablecoins directly into the traditional financial system.

On July 18, US President Donald Trump signed the GENIUS Act into law. Source: Associated PressWithin this evolving environment, stablecoins are increasingly viewed as a multi-purpose financial tool, enabling faster cross-border payments, facilitating onchain settlement and serving as the foundation for yield-bearing treasury instruments backed by short-term government debt.

Policymakers have also framed stablecoins as a mechanism for reinforcing the global role of the US dollar, particularly in regions where access to dollar-denominated banking remains limited.

That trend is not confined to the United States. Stablecoins pegged to other fiat currencies, including the euro and various emerging-market currencies, are gaining traction, underscoring their potential role as a global settlement layer rather than a purely dollar-centric product.

From an investment standpoint, dollar-pegged stablecoins themselves offer virtually no upside. By design, they are not meant to appreciate, and ideally should never deviate from their peg. The real opportunity lies in the infrastructure that supports them.

That infrastructure spans a growing ecosystem of issuers, custodians, compliance providers, blockchain networks and payment rails responsible for minting, redeeming, settling and safeguarding stablecoins at scale. As adoption expands, so too does the value of the platforms enabling these functions behind the scenes.

Exposure to this theme has also begun spilling into traditional capital markets. Circle, the issuer of USDC, made a high-profile public debut. At the same time, PayPal Holdings launched its own dollar-backed stablecoin, signaling that legacy fintech firms see stablecoins not as a niche crypto product, but as a core component of future payment infrastructure.

Tokenized RWA moves from theory to Wall Street realityWhen BlackRock’s Larry Fink, the chief executive of one of the world’s most influential asset managers, says the “tokenization of all assets” is beginning, markets tend to pay attention. For long-term investors, it also signals that a once-theoretical blockchain use case is moving decisively into the mainstream of finance.

Real-world asset (RWA) tokenization has evolved rapidly from a niche experiment into one of the most institutionally driven sectors in crypto. Major financial players, including BlackRock, Franklin Templeton and Goldman Sachs, have already launched or participated in tokenized funds, bonds and settlement platforms, placing traditional assets directly onto blockchain rails.

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has emerged as the largest tokenized fund to date, managing close to $2 billion in assets. Source: RWA.xyzIndustry data indicate that the tokenized RWA market reached over $30 billion in onchain value by 2025, with private credit and US Treasury–backed products emerging as early leaders. These instruments appealed to institutions seeking yield and faster settlement without abandoning familiar asset classes.

More recently, the scope of tokenization has expanded. Tokenized stocks and equity-like instruments are gaining traction, particularly outside the United States, as exchanges and fintech platforms explore blockchain-based representations of stocks and exchange-traded products. 

Kraken’s rollout of tokenized equities for select international markets has highlighted growing demand for 24/7, programmable access to traditional assets.

At the same time, crypto-native companies are positioning themselves for a future where tokenization is no longer peripheral. After Coinbase signaled its push into stock trading, Brian Huang, CEO of Coinbase-backed portfolio manager Glider, said the move could serve as a strategic on-ramp to the tokenized asset market.

“Coinbase will have a huge leg up when assets truly begin to become tokenized,” Huang said, citing the exchange’s regulatory positioning and custody infrastructure.

Carlos Domingo, CEO of Securitize, attributed the growth of RWAs to regulatory changes, leadership shifts at the US Securities and Exchange Commission and the broader industry’s increasing embrace of blockchain technology. Source: CNBC TelevisionFor investors, the appeal of RWAs lies less in short-term speculation and more in structural adoption. Tokenization promises faster settlement, reduced counterparty risk and global accessibility. As regulatory frameworks mature and financial incumbents expand their onchain offerings, RWAs could emerge as one of the most durable crypto investment themes heading into 2026.

2025 was another bruising year for blockchain and cryptocurrency security.

Across centralized exchanges, DeFi protocols and infrastructure providers, attackers siphoned an estimated $2.2 billion in the 10 largest incidents — roughly on par with the "nearly $2.2 billion" stolen in 2024, according to Chainalysis-based analysis previously reported by The Block.

But the damage was far more concentrated. While the sheer number of mid-tier exploits climbed from a year earlier, 2025 also saw the largest crypto theft ever recorded: Bybit's $1.4 billion breach in February.

Several major infrastructure failures followed, alongside sophisticated protocol-level attacks that targeted liquidity, oracle design, and privileged access pathways. The Block reviewed data from DeFiLlama and cross-referenced each case with our newsroom's coverage to compile a definitive list of 2025's largest crypto hacks, ranked by losses.

Bybit: $1.4 billion
Dubai-based exchange Bybit suffered the largest crypto theft on record on Feb. 21, when attackers drained approximately 401,000 ETH, worth a staggering $1.4 billion at the time, from wallets tied to the platform.

Onchain security firms said funds were siphoned from Safe-based multisig wallets across several networks, including Ethereum and Arbitrum, before being quickly moved through a web of fresh addresses. Investigators later pointed to a likely signing-key compromise or phishing event involving Bybit's internal wallet system.

Several independent reports highlighted abnormal approval patterns in the affected Safe contracts, suggesting the attacker had obtained sufficient control to authorize multi-chain transfers without tripping standard safeguards.

Bybit paused withdrawals, launched an internal probe, and coordinated with external analytics and law enforcement contacts. The exchange said user balances would be honored and began rebuilding wallet infrastructure, while chain trackers followed the hacked funds as they were fragmented across bridges and mixing services.

Cetus: $223 million
On May 22, Cetus, a concentrated-liquidity DEX built on Sui, was hit by an exploit that ultimately affected around $223 million in onchain liquidity at peak impact.

The attacker deployed spoofed tokens that mimicked legitimate assets at the pool level, then abused a flaw in the protocol's logic for handling those assets to manipulate pricing and drain liquidity.

As bogus tokens were swapped through the affected liquidity pools, onchain prices diverged sharply from external markets. Automated market maker math and downstream integrations treated the spoof assets as valid, allowing the attacker to extract value while leaving LPs with worthless or mispriced positions. Several Sui ecosystem projects that routed order flow through Cetus saw knock-on pricing distortions.

Cetus halted trading, paused affected contracts, and later initiated a staged restart after applying contract patches and coordinating with ecosystem partners. The team said it was able to recover a portion of the impacted funds via countermeasures and negotiations, though net losses remained substantial even after remediation.

Balancer V2: $128 million
Balancer, a decentralized finance protocol, disclosed a multi-chain exploit on Nov. 3 that ultimately impacted around $128 million in assets across its V2 composable stable pools. The attack traced back to a rounding-error bug in the pool math, which allowed carefully crafted swaps to extract value by exploiting discrepancies between internal accounting and actual pool balances.

Onchain, the attacker repeatedly cycled assets through affected pools, using a sequence of deposits and withdrawals that capitalized on the rounding behavior. Each loop shifted value in their favor while leaving the pool state appearing superficially valid, which let the exploit run across multiple chains before Balancer and partners could react.

The protocol urged LPs to exit specific at-risk pools and then began disabling vulnerable configurations. In a post-mortem, Balancer confirmed the bug was present in composable stable pools only, not the broader V2 architecture, and said a combination of white hat actions and mitigation steps helped recover tens of millions of dollars, which are now being distributed back to impacted users.

Bitget: $100 million
Crypto exchange Bitget disclosed a roughly $100 million loss tied to trading in its VOXEL market. Onchain data audits revealed a small cluster of eight accounts repeatedly interacting with Bitget's market-making infrastructure in a way that exploited a flaw in the exchange's internal trading bot logic.

On April 20, the attackers appeared to trigger and front-run abnormal market-maker quotes, allowing them to buy VOXEL at artificially depressed prices and sell into inflated bids. This produced outsized, low-risk profits that were quickly withdrawn, effectively turning the internal bot into a loss engine for Bitget's own treasury.

Bitget treated the episode as a market manipulation and infrastructure exploit, pledging to pursue legal action against the accounts involved and reviewing its market-making stack. The exchange also said it paused VOXEL trading, strengthened surveillance rules around thinly traded markets, and reiterated that user spot balances and derivatives positions remained intact.

Phemex: $85 million
Centralized exchange Phemex suffered a major breach on Jan. 23 that saw roughly $85 million in crypto siphoned from its hot wallets. Blockchain data showed assets flowing out of addresses labeled as Phemex-controlled into newly created wallets, suggesting a private key compromise involving the exchange's operational wallets.

Security firms that monitored the theft reported a series of large transfers in BTC, ETH, and stablecoins over a relatively short window, with a portion of funds later routed into mixing services. Phemex quickly froze withdrawals, moved remaining assets to secure storage, and opened an investigation into whether the compromise stemmed from an external intrusion or internal credential misuse.

The exchange said it would cover user balances and began working on improved architecture with tighter key management and access controls. Authorities and analytics firms continued tracking the stolen funds across chains, but there has been no public indication that a meaningful portion of the stolen assets has been recovered.

Nobitex: $80 million
June 18 marked the day hackers attacked the Iran-based crypto exchange Nobitex and withdrew around $80 million to $90 million from its hot wallets. Blockchain investigators, including onchain sleuth ZachXBT, spotted large, suspicious outflows spanning BTC, ETH, and other tokens from addresses long associated with Nobitex, prompting immediate speculation of a hot-wallet hack.

Nobitex initially paused some services, and later confirmed that a subset of its wallets had been compromised. White hat security experts traced funds through multiple hops, with portions appearing on mixing services or being swapped into more liquid assets to obfuscate their trail. The exchange said that cold wallets remained secure and that it would work to restore user balances.

As the probe continued, Nobitex gradually restored platform functionality, while local reports in Iran highlighted the regulatory and banking challenges of responding to a large crypto theft in that jurisdiction. The company has not publicly disclosed a detailed technical breakdown of the root cause beyond noting that the impacted wallets have been rotated and hardened.

Infini: $49.5 million
Stablecoin-focused neobank Infini was exploited on Feb. 24 for roughly $49.5 million, in an incident that security analysts tied to overlooked developer privileges in the project's smart contracts. Shortly after the attack, onchain observers watched as an address with elevated permissions began draining protocol-controlled funds into an attacker's wallet.

The exploit hinged on a misconfigured or insufficiently restricted admin function, which allowed the attacker to move collateral and stablecoins out of protocol reserves without passing through normal user workflows. Analysts noted that the permissions structure gave the exploiter far-reaching control over core money flows, raising questions about Infini's internal review and audit processes.

Infini paused operations, disabled affected contracts, and urged users not to interact with the protocol while it assessed the damage. Post-incident updates framed the attack as a wake-up call on governance and access controls, and the team opened discussions with white hats and auditors about clawback options and a potential relaunch path.

BtcTurk: $48 million
On Aug. 14, Turkish exchange BtcTurk disclosed "unusual outflows" from some of its hot wallets after blockchain trackers noticed more than $48 million in crypto leaving addresses associated with the platform.

Over a short window, funds in multiple assets were moved to new destinations, with the pattern consistent with compromised private keys on part of the exchange's infrastructure. BtcTurk quickly halted deposits and withdrawals, stating that the majority of its reserves were held in cold storage and remained safe. The exchange began rotating its wallet infrastructure and working with partners — including Binance, which later said it had frozen a slice of suspected stolen funds — to limit further movement of the assets.

Turkish authorities and local media closely followed the incident, given BtcTurk's role as one of the country's oldest crypto venues. The company has signaled its intention to reinforce its security model, but has not publicly shared a full technical post-mortem of the initial compromise.

CoinDCX: $44.2 million
Indian exchange CoinDCX reported a $44.2 million exploit on July 19, later attributing the incident to a server-side breach that allowed an attacker to gain unauthorized access to critical systems. Funds were drained from specific hot wallets and moved across chains in quick succession, with analytics platforms flagging suspicious transfers almost immediately.

CoinDCX said its internal logs pointed to compromised infrastructure rather than a traditional protocol bug. In subsequent updates, local police investigations led to the arrest of an employee alleged to have played a role in facilitating the theft, underscoring that the breach blended external intrusion with internal compromise.

The exchange froze affected services, rotated keys, and pledged to cover customer losses. As the incident response continued, CoinDCX noted that its cold storage remained untouched and that it was working with law enforcement and cybersecurity firms to recover assets and strengthen its controls.

GMX: $42 million
Decentralized perpetuals exchange GMX suffered a roughly $42 million exploit on July 9 targeting its V1 system on the Arbitrum network. According to security analyses, the attacker exploited a reentrancy-style vulnerability in a contract connected to the protocol's GLP liquidity pool, repeatedly calling functions in a way that allowed them to withdraw more assets than intended.

By looping through the vulnerable contract, the exploiter gradually drained liquidity from the GLP pool, leaving LPs with a significant hole while maintaining the appearance of regular operations during the early stages of the attack. Once the abnormal flows were detected, GMX moved to disable the affected pathways.

GMX halted trading on the impacted venues and disabled minting and redemption for GLP on V1, stressing that its V2 system and the GMX token itself were not directly affected. The team began working on contract fixes and engaged with auditors and the broader community on remediation options, including possible compensation frameworks for affected LPs.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Simplify Managed Futures Strategy ETF (NYSEARCA:CTA) has disappointed investors seeking diversification through trend-following strategies. Since launching in March 2022, the fund has struggled to generate meaningful returns in the low-volatility equity bull market environment that has dominated recent years.

The challenge is simple: managed futures strategies thrive on volatility and sustained trends, not relentless equity bull markets. When stocks grind higher month after month, trend-following algorithms that go long commodities, short bonds, or rotate across global futures markets generate modest returns at best. The fund has faced headwinds in environments characterized by persistent equity strength and limited cross-asset volatility.

What Could Spark a Reversal: Market Volatility Returns
CTA’s 2026 performance hinges on whether markets experience sustained volatility and directional trends. Managed futures historically perform best during market stress when traditional 60/40 portfolios struggle—think 2008, 2022’s bond collapse, or the COVID crash.

Monitor the CBOE Volatility Index (VIX) closely. When the VIX sustains readings above 20 for extended periods, it signals environments where trend-following can capture profits. Watch for commodity market breakouts. Rising oil prices, surging agricultural commodities, or gold breaking to new highs create trending conditions CTA’s models exploit.

The CME Group’s daily settlement prices for major futures contracts provide real-time insight into developing trends. If crude oil moves decisively above $85 per barrel or gold pushes past $2,150, managed futures strategies could start generating returns. Check these weekly, particularly around Federal Reserve meetings and major economic data releases.

Fund Mechanics: The Momentum Model Under the Hood
CTA uses a momentum-based approach analyzing price trends across multiple timeframes. According to the prospectus, the fund positions long in futures experiencing positive trends and short in those with negative momentum.

The fund’s exposure to contango and backwardation in futures markets represents a structural headwind. When futures curves are in contango (near-term contracts cheaper than distant ones), rolling positions forward creates return drag. The prospectus explicitly warns that “extended periods of contango or backwardation have occurred in the past and can in the future cause significant losses.”

Review Simplify’s quarterly fact sheets to understand current positioning. The fund’s 0.75% expense ratio means it needs to generate at least that much return annually just to break even after fees. With $1.2 billion in assets, liquidity isn’t a concern.

This infographic details the Simplify Managed Futures ETF (CTA)’s trend-following strategy, its ideal use case during market volatility, and a comprehensive breakdown of its strengths and risks for the 2026 outlook.

A Better Alternative: DBMF Offers More Assets and Lower Fees
For investors committed to managed futures exposure, consider the iMGP DBi Managed Futures Strategy ETF (NYSEARCA:DBMF) as an alternative. With $2 billion in assets versus CTA’s $1.2 billion and an expense ratio of 0.85% (just 10 basis points higher), DBMF offers greater scale and a longer track record dating to 2019.

The key advantage is DBMF’s multi-manager approach, which diversifies across different trend-following methodologies rather than relying on a single model. This could provide more consistent performance across varying market environments. While both funds struggled in 2025’s low-volatility equity rally, DBMF’s additional assets and proven ability to attract capital suggest stronger institutional confidence.

The Bottom Line
CTA’s 2026 performance hinges on whether market volatility returns to create trending conditions managed futures need to thrive, while the fund’s exposure to futures curve dynamics and 0.75% expense ratio will continue impacting returns regardless of market direction.

LOS ANGELES, Jan. 01, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Telix Pharmaceuticals Limited (“Telix” or “the Company”) (NASDAQ: TLX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 21, 2025 and August 28, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before January 9, 2026.

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

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Telix overstated its progress with therapeutic candidates for prostate cancer. The Company’s artificially inflated the quality of its supply chain. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Telix, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

The Schall Law Firm

Vistra is in a prime position to benefit from power-hungry data centers that power artificial intelligence (AI).

In recent years, Vistra (VST 0.74%) has evolved from a traditional utility to a player in the development of artificial intelligence (AI) infrastructure. The stock has surged 321% since the start of 2024 as investors have piled into it due to its ability to meet the growing energy needs of power-hungry data centers.

As an independent power producer, Vistra has secured predictable revenue while leaving open the possibility of upside in the years ahead. However, investors must also contend with the fact that the utility stock has gotten quite expensive.

If you're considering an investment in Vistra, here's what you should know first.

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Vistra's merchant power business model
Vistra operates as a merchant power company, selling electricity directly into competitive wholesale markets across 18 states and Washington, D.C., on a short-term basis rather than through power purchase agreements. The utility provider serves 5 million residential, commercial, and industrial customers.

As a wholesale provider, Vistra doesn't rely on any single power plant, geographic market, or customer segment. This enables Vistra to combine its retail business with its generation fleet and wholesale commodity risk-management capabilities through the use of hedging derivatives. In other words, its business model helps mitigate the impact of commodity price movements and supports cash flow stability.

Image source: Getty Images.

As of Oct. 31, Vistra had hedged approximately 96% of its expected generation volumes for 2026 and approximately 70% for 2027. In other words, Vistra has committed to pricing nearly all of its output next year, locking in revenue and reducing its exposure to volatility in natural gas and electricity prices. By leaving 30% of its 2027 generation volumes "open," it locks in a large portion of revenue while giving it upside potential if energy prices spike.

This business model positions Vistra to benefit from rising wholesale power prices, particularly in regions like the Northeast and Midwest U.S., where supply constraints and surging demand are reshaping dynamics across the energy complex.

Vistra is building on its strong position
Wholesale electricity prices are highly volatile due to supply and demand imbalances, especially in day-ahead and spot markets. In the Pennsylvania-New Jersey-Maryland (PJM) market, one of the regions where Vistra provides energy, markets remain tight, with wholesale power prices trending upward.

Meanwhile, PJM and other markets it serves face a sluggish pace of new power plant construction, regulatory bottlenecks, and retirements of older coal and nuclear facilities. Supply chain constraints and labor shortages have reduced equipment availability and increased lead times for materials required for new construction and maintenance.

To ensure capacity and expand its reach, Vistra acquired seven natural gas plants from Lotus Infrastructure Partners for $1.9 million. This significantly expands its reach in high-demand regions, such as PJM, New England, and California. Natural gas is compelling because it provides dispatchable power that can ramp up instantly to stabilize the grid when weather-dependent wind and solar generation drops.

Additionally, Vistra is securing major deals to lock in long-term visibility into revenue. In September, it signed a 20-year power purchase agreement with a "large, investment-grade" company for 1,200 MW of carbon-free power. This deal converts a significant portion of its nuclear output into a long-term, predictable revenue stream.

Vistra has surged over the last couple of years and now trades at a premium valuation with the stock priced at 27.4 times this year's projected earnings, which is high for a utility provider.

VST PE Ratio (Forward) data by YCharts

However, analysts project robust growth in 2026 and 2027, with earnings per share projected to surge 68% and 22%, respectively. Using those forward earnings per share estimates, Vistra is priced at 17.5 times its projected earnings next year and 14.8 times its projected 2027 earnings.

Vistra stock is on the pricey side, but it has declined 26% from its September peak. If you believe in the opportunities ahead, driven by energy demand from the data center buildout and the proliferation of AI, Vistra is one stock poised to benefit.

LOS ANGELES, Jan. 01, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Stride, Inc. (“Stride” or “the Company”) (NYSE: LRN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between October 22, 2024 and October 28, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before January 12, 2026.

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

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Stride inflated its enrollment numbers through the utilization of “ghost students.” The Company assigned teach caseloads beyond statutory limits to lower its staffing costs. The Company failed to follow compliance requirements such as background checks. The Company suppressed whistleblower reports on directives to improperly improve profit margins. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Stride, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

The activewear retailer is going through a messy CEO search.

The search for Lululemon's (LULU 1.30%) next CEO is getting messy. Not only was there no clear succession plan when CEO Calvin McDonald announced his impending resignation, but activist investor Elliot Investment Management has built a stake and is pushing a specific pick, and founder Chip Wilson is looking to replace board members before a decision is made.

Image source: Getty Images.

All of this will be behind the company at some point next year, and the next CEO will then have the task of returning the core U.S. business to growth. While it will take time for any new strategy to take hold, Lululemon stock could surge in 2026 if the new CEO can spin a compelling turnaround story.

Squandering a strong brand
Lululemon is thriving in international markets, but the story is different in the U.S. Comparable sales in the Americas fell by 5% in the third quarter, and overall profits are in decline.

Lululemon allowed its core products to become stagnant as competition intensified. Activewear shoppers have far more choices today than they did a few years ago, and Lululemon hasn't done enough to adapt. Prior to McDonald's resignation, he announced a plan to decrease product development times and refresh the core portfolio for next spring.

The good news is that Lululemon's business is not broken. Lululemon's brand is a powerful force in the apparel market, and customers will likely come back if the company can get its product mix right. That will take time, especially with a potentially drawn-out CEO search process underway.

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A stock recovery in 2026 is possible, although the business may not stage a clear comeback until 2027. However, with Lululemon stock trading for around 16 times full-year earnings guidance, investors are getting a good deal to sit and wait for an iconic brand to find its footing.

Timothy Green has positions in Lululemon Athletica Inc. The Motley Fool has positions in and recommends Lululemon Athletica Inc. The Motley Fool has a disclosure policy.

LOS ANGELES, Jan. 01, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Perrigo Company plc (“Perrigo” or “the Company”) (NYSE: PRGO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 27, 2025 and November 4, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before January 16, 2026.

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

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. The baby formula business Perrigo acquired from Nestlé suffered from serious underinvestment in repairs, maintenance, and operational optimization. The Company would be required to make large investments and expenditures beyond the cost estimates it shared with investors to fix the baby formula business’s problems. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Perrigo, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

NEW YORK, Jan. 01, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Canadian Imperial Bank of Commerce (“CIBC”) and Royal Bank of Canada (“RBC”), and their broker-dealer subsidiaries (together, the “Defendants”). The action alleges that Defendants defrauded investors by placing and executing manipulative trades designed to artificially deflate the price of Quantum Biopharma Ltd. (“Quantum”) (NASDAQ: QNTM) securities.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that sold Quantum securities between January 6, 2021 and October 15, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/QNTM.

Quantum Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that:

(1) Defendants repeatedly entered thousands of spoofed sell orders designed to create the false appearance that Quantum’s stock price was declining; 
(2) These manipulative orders were calculated to—and did—deceive or induce investors to sell their shares at artificially depressed prices; 
(3) After driving the market price down, Defendants purchased Quantum shares at these artificially deflated levels, positioning themselves to profit from the scheme; and 
(4) As a result of Defendants’ misconduct, investors, including Plaintiff, were improperly induced into selling their shares at artificially depressed prices.

What's Next for Quantum Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/QNTM. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Quantum you have until February 23, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Quantum Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Quantum Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

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