Market Signal Briefing

Ethereum mainnet now processes between $90 billion and $100 billion in stablecoin transfers daily, according to Leon Waidmann, head of research at Onchain Foundation.

This comes as Solana’s on-chain SOL-USD volumes have grown to the point of being comparable to and even surpassing major centralized exchanges, like Binance and Bybit, highlighting its growing importance for real-time trading and liquidity recycling.

Where is crypto liquidity parked?
Questions about Ethereum’s dominance of the stablecoin volume and activity sector vanished when it posted a historic month in October 2025, processing approximately $2.82 trillion in stablecoin transfers, the highest monthly volume ever recorded.

In November, its stablecoin transaction volume reached $1.94 trillion, and so far in December, it has done $1.61 trillion, according to data from The Block. The major stablecoin is USDT, which dominates by over 52%.

“Ethereum is not just another smart contract platform. It has become the settlement layer for global dollar liquidity,” Waidmann wrote on X. “When serious money moves, it still settles on Ethereum mainnet. Not because it is the fastest. Because it is the most trusted.”

By sheer scale, Ethereum has a stranglehold on being the primary settlement layer for institutional dollar flows, but Solana has made its case to a growing audience too. The network’s on-chain SOL-USD volume has exceeded the combined spot trading volume on Binance and Bybit for three consecutive months, according to Kaviish Sethi, who works in data and research at Artemis.

Source: Kaviish Sethi on X
Solana’s appeal lies in its high throughput and low transaction costs, which make it well-suited for frequent trading, payments, and smaller-value transfers.

Solana or Ethereum?
While Ethereum dominates in settlement and high-value flows, Solana is establishing itself as a venue where liquidity is actively used, recycled, and traded, reinforcing its role as a market-facing layer of the ecosystem. The stablecoin dominating the Solana markets is Circle’s USDC, which leads by over 68%.

The stablecoin supply on Solana has risen to record levels, sitting at over $15 billion in market capitalization, having hit over $16 billion a few months ago, although this pales in comparison to Ethereum’s total stablecoin market cap of over $167 billion.

“Solana isn’t just a memecoin chain. It’s becoming the liquidity layer of crypto,” Sethi stated. “This is what real adoption looks like.”

The growth of both ecosystems shows that the crypto industry is growing beyond single-chain maximalism, because there’s also Tron, which is known to be one of the leading platforms for stablecoin, mostly USDT transactions.

Stablecoin adoption has also increased globally as more jurisdictions, like the United States, have put out laws that regulate its issuance, among other guidelines.

“Stablecoins made blockchains useful,” Waidmann concluded. “Ethereum made stablecoins reliable,” though Solana’s trajectory of innovative performance shows that reliability now comes in multiple forms, with both blockchains positioning themselves to capture the distinct segments of on-chain dollar liquidity.

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XRP appears to be showing its first meaningful signs of stabilization after weeks of sustained downside pressure. Following a prolonged decline within a well-defined descending channel, the price has managed to reclaim the $1.90 level and print a strong green daily candle. This move is notable not simply because of the bounce itself, but because it coincides with a visible slowdown in bearish momentum, suggesting that sellers may be losing control of the market.

Since October, XRP price action has respected a clear bearish structure, with lower highs and lower lows dominating the chart. However, recent behavior marks a shift in dynamics. Downward moves are now occurring on lighter volume, while the latest upward push showed cleaner participation and improved follow-through. This change often signals that short positions are becoming crowded and that the distribution phase may be nearing completion.

The $2 level is now the most important area to watch. It is not only a psychological round number, but also a key technical pivot. During the recent sell-off, XRP repeatedly failed at $2, turning former support into resistance. A decisive reclaim of this level would place the price back above the lower boundary of the broken structure and open the door for a move toward the middle of the broader consolidation range. Historically, rallies below $2 have been sold aggressively, while price acceptance above it tends to make sellers uncomfortable.

There is also a reflexive market component at play. Earlier in the cycle, XRP spent considerable time trading above $2. When it broke below, forced liquidations and momentum-driven exits accelerated the decline. A return to that zone could prompt sidelined participants to reenter, potentially adding upside pressure, especially if short sellers anticipate resistance too early.

Momentum indicators support the stabilization narrative. The Relative Strength Index has recovered from weak levels without entering overbought territory, a typical characteristic of early-stage reversals rather than euphoric rallies. While XRP still faces notable overhead supply between $2.10 and $2.40, the inability of sellers to push prices lower represents a material shift in market conditions and sets the stage for a potential trend change if follow-through continues.

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Bitcoin is attempting to stabilize after a sharp sell-off that erased weeks of bullish momentum and shifted market sentiment noticeably. The flagship cryptocurrency is currently trading in the high $80,000 range, well below the psychological $100,000 level that previously dominated investor narratives. From a technical and structural standpoint, the Bitcoin market is now in a repair phase rather than a confirmed uptrend, with traders remaining cautious about near-term price action.

The daily Bitcoin chart highlights the extent of recent damage. BTC decisively broke below the $100,000 support zone, lost both short-term and mid-term moving averages, and accelerated lower on increasing volume. This move flushed out leveraged long positions and forced late buyers to exit. Importantly, while the selling pressure has eased and price action has stabilized, this pause should not be mistaken for a trend reversal. Consolidation after a sharp drop often reflects uncertainty rather than renewed bullish control.

Bitcoin now faces significant resistance between $93,000 and $100,000, a zone that will act as a major test for bulls. Any rally into this range must be supported by strong volume and sustained buying interest. Without a decisive reclaim of these levels, upside moves are likely to be viewed as relief rallies within a broader corrective structure, rather than the start of a new bullish leg.

Momentum indicators reinforce this cautious outlook. The Relative Strength Index has rebounded from oversold conditions, signaling that aggressive selling has cooled. However, RSI remains relatively muted, suggesting that strong bullish momentum has yet to return. This technical setup leaves the market vulnerable to either consolidation or another downward move if a catalyst fails to emerge.

Market sentiment further supports a guarded stance. Data from the regulated prediction market Kalshi indicates that traders are not expecting a swift return of Bitcoin to $100,000. While this does not rule out a future move back to six figures, expectations have clearly shifted. Bitcoin’s path forward now depends on confirmation, not assumptions, as investors wait for stronger signals before committing to renewed upside.

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Cardano founder Charles Hoskinson has issued a clear warning to the broader blockchain industry about rushing into post-quantum cryptography upgrades, arguing that premature implementation could degrade network performance and create unintended costs for users and validators.

“Post-quantum crypto oftentimes is about 10 times slower, 10 times larger proof sizes, and 10 times more inefficient,” Hoskinson said, noting that adding such systems without adequate hardware support could dramatically reduce throughput.

Future quantum attacks pose a significant challenge to the current blockchain system. This has prompted blockchain developers to engage in discussions on how to tackle this issue. Some of these discussions included considering some updates to protocols.

However, Hoskinson advised developers that the biggest challenge is timing; hence, they needed to focus on this aspect instead of certain amendments required. He further warned that acting rashly could result in high costs for blockchain networks. According to him, the cryptographic tools essential to protect blockchain technology from future quantum attacks are already accessible.

Hoskinson guides blockchain developers in preparation for future quantum attacks
Hoskinson pointed out that the US National Institute of Standards and Technology made post-quantum standards public in  2024. Following this release, the Cardano founder highlighted that the key issue is based on the costs associated with executing new protocols before validators and miners are ready.

Meanwhile, it is worth noting that while several researchers believe that cutting-edge quantum computers could ultimately break current cryptography, reports from sources reveal that there is still less consensus on when this threat might materialize.

However, based on the recently announced predictions, practical quantum computing could occur anytime from a few years to more than ten years from now.

Still, Hoskinson advised blockchain developers to focus on concrete developments rather than hype and corporate timelines when evaluating how soon this danger might materialize.

One of the suitable ways the Cardano founder suggested was for them to shift their focus to DARPA’s Quantum Benchmarking Initiative. According to his argument, this program conducts tests on several quantum computing methods to determine whether they can produce useful outcomes. 

“It’s the best independent and objective standard we can use to see if quantum computers will be real, when they will arrive, and who will build them,” Hoskinson said.

Notably, DARPA has decided that 2033 will be the year in which it will determine if large-scale quantum computing is feasible.

Hoskinson reveals a suitable solution for a major emerging problem in the crypto industry 
Similar to other leading networks, such as Bitcoin, Ethereum, and Solana, reports from reliable sources have highlighted that Cardano utilizes elliptic-curve cryptography. It is worth noting that such a method is at great risk because of Shor’s algorithm, that is, in the event of the development of very powerful quantum computers.

This news raised tension in the crypto ecosystem as developers ignited heated debates. To address this controversy, Hoskinson noted that the industry knows suitable ways to curb this problem. Nonetheless, he mentioned that this approach is centered on deciding between two different cryptographic methods. 

To further elaborate on this point, he stated that the two options to choose from include Hashes, which is utilized by Ethereum, and lattices, which is actually their preferred choice. 

Concerning Hoskinson’s statement, analysts weighed in on the matter. They highlighted that Hash-based cryptography relies on cryptographic hash functions to produce digital signatures effectively, which are widely recognized as the most secure approach against future quantum threats.

The analysts also pointed out that these systems are straightforward, thoroughly researched, and established to be cautious. However, they are mainly used for signing data and are not preferable for general encryption purposes. 

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SBI VC Trade opens new rent coin lending round in JapanSBI Group is now a massive institutional partner of Ripple, the company associated with XRP.

Recruitment round. SBI VC Trade, a subsidiary of SBI Holdings, announced a new recruitment round for its “Rent Coin” (lending) service.SBI VC Trade, a major Japanese cryptocurrency exchange and subsidiary of the financial giant SBI Holdings, is opening a new recruitment round for its "Rent Coin" (Lending) service.

The recruitment period begins tonight, Dec. 18, 2025, at 20:00 (JST). The exchange supports lending for 34 assets, including XRP, Bitcoin (BTC), and even meme cryptocurrency Dogecoin (DOGE). 

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Holding yield. The program allows users to earn returns on idle crypto holdings, unlike standard wallet storage, which typically generates no yield.Unlike stocks with dividends or banks with interest, holding crypto in a wallet usually yields nothing. This service turns idle crypto into an income-generating asset.

It is worth noting that applications are generally approved on a first-come, first-served basis, and popular coins (often XRP and DOT) can hit capacity quickly (waitlisted).

SBI VC Trade first launched its cryptocurrency lending service in November 2020. Initially, it only supported Bitcoin (BTC). The minimum loan was 0.1 BTC, and it offered a 1% usage fee (interest).

XRP ETFs log 30 straight days of inflows as Bitcoin and Ethereum lagXRP ETFs have recorded an impressive streak of inflows, and Ripple CEO Brad Garlinghouse has taken note of this fact.

ETFs inflows. The collective group of XRP exchange-traded funds has now recorded positive net inflows for 30 consecutive trading sessions.The collective group of XRP ETFs has recorded positive net inflows for 30 consecutive trading sessions. For comparison, Bitcoin and Ethereum ETFs have experienced "choppier" flows Ripple Brad Garlinghouse recently took to the X social media platform to highlight the recent milestone recorded by the XRP products. 

$250 million debut. Canary Capital launched the first U.S. spot XRP ETF.Canary Capital launched the first U.S. spot XRP ETF. It debuted with record first-day volume for a non-Ethereum altcoin ETF, attracting nearly $250 million quickly.

Following Canary's success, other major issuers went live in rapid succession to capture market share. These include Franklin Templeton (XRPZ), Bitwise XRP ETF (XRP), and Grayscale XRP ETF (GXRP). There are also other launches in the pipeline.

Shiba Inu prints rare price-on-chain divergenceShiba Inu is still losing supply on exchanges, which is a great sign for the future of the asset.

Exchange outflows. Nearly 100 billion SHIB left centralized exchanges within a 24-hour window.Shiba Inu is showing one of the more interesting divergences it has printed in months. While the price continues to grind lower and sit uncomfortably near local lows, on-chain behavior tells a different story. Nearly 100 billion SHIB are leaving exchanges in a 24-hour window. That kind of outflow matters, especially at depressed price levels.

Bullish sign. This behavior typically signals reduced immediate sell pressure, not aggressive distribution.Exchange reserve data shows a clear contraction. Coins are moving off trading platforms, not piling onto them. That typically signals reduced immediate sell pressure, not aggressive distribution. At this stage of the cycle, sustained outflows suggest holders are choosing custody over liquidity, which is often how bottoms form rather than how crashes accelerate.  

SHIB downside pressure builds as liquidation levels tilt against bullsShiba Inu coin dropped to a level where leveraged bulls are forced out rather than being driven by hype. 

SHIB price target. The level inflicting the most damage on SHIB bulls sits near $0.00777, while the level that hurts shorts is higher, around $0.0086.According to CoinGlass, the level causing the most damage to SHIB bulls sits near $0.00777, while the level that hurts shorts is higher, near $0.0086. With the price trading around $0.00816, the downside liquidation zone is simply closer. That matters because the price often moves toward the nearest group of traders who can be forced out of the market. 

Price warning. If price slides into that zone slowly, liquidation-driven selling can extend the move lower as pressure continues to build.A drop of less than 5% can trigger long liquidations. A move up needs more than 5% and stronger buying pressure to start hurting shorts. So, the only thing evident about the Shiba Inu coin right now is an imbalance, where downside pressure is easier to activate than upside pressure.

If the price briefly dips into the $0.0077-$0.0078 zone and selling dries up quickly, weak longs are cleared and price can stabilize. That is how short-term bottoms often appear. If price slides into that zone slowly, pressure can extend lower as liquidations keep feeding selling.

Solana volume spike and golden cross signal renewed bullish momentumSolana's price surge might be closer with skyrocketing volume and promising golden cross setup.

SOL Volume spike. Solana trading volume surged by 40%, signaling increased attention from both retail and institutional investors.The 40% spike in Solana trading volume suggests increased network attention by both retail and institutional investors. As the SOL price showed signs of recovery, investors are gradually shifting their attention back to the coin.

After days of trading on the low, the SOL price surged 1.6% over the past 24 hours to $132.9. At the same time, technical analysis showed the formation of a golden cross, often recognized as a highly bullish pattern.

Golden cross alert. This setup suggests short-term momentum is beginning to outperform the broader trend.

Typically, a golden cross pattern occurs when a shorter-term moving average crosses above a longer-term one. This signals that short-term momentum is outpacing the long-term trend, often preceding sustained upward price movement.

A 40% trading volume accompanying this setup strengthens the signal. This is because it indicates strong buyer conviction and increased market participation. Earlier golden crosses seen on the Solana price chart this year contributed to rallies, pushing SOL toward $200 to $228 in various periods. 

Dogecoin chart issues downside warningDOGE bulls are facing a hard reality as Dogecoin loses a key structure.

Dogecoin (DOGE) is slipping back toward price levels last seen in 2024, according to analyst Ali Martinez’s monthly chart.

In late 2025, Dogecoin (DOGE), the most popular meme coin, finds itself in a zone where the chart is no longer showing polite warnings, but rather is starting to issue more serious alerts. As highlighted by analyst Ali Martinez on the monthly chart, DOGE is dipping back down to levels that were last visited in 2024.

It is really all about the selling pressure due to which Dogecoin could drop to $0.1 or even lower, to around $0.062, and that second level is the uncomfortable one, because it will mean Dogecoin adding a zero back to its price, totally changing expectations not only for the biggest meme coin, but the sector as a whole.

Distribution. DOGE failed to hold the $0.16–$0.18 range, which previously acted as strong support.The setup did not come out all of a sudden overnight. First, DOGE could not stay above the $0.16-$0.18 range, which had been a good spot before during stronger periods. Once the price dropped out of that zone, it became resistance, and every bounce since has stalled faster than the last. Classic distribution behavior, not accumulation.

Journalist

Posted: December 22, 2025

After retracing and dipping below the supply zone at $0.4 to $0.34, PIPPIN bounced back. The memecoin surged 20.27% to a local high of $0.48 before slightly retracing to $0.451 as of this writing. 

Over the same period, PIPPIN’s market cap recovered from $308 million dip to $443 million, marking a $100 million jump. 

But what triggered the rebound?

Demand for PIPPIN Futures rebounds
After PIPPIN breached the $0.4 support level, traders in the Futures market took the opportunity to add to existing positions. 

According to CoinGlass, the memecoin’s Open Interest surged 24.29% to $150.73 million, but derivatives volume dropped 16% to $551 million. 

Such a combination suggested existing holders added to or opened new positions while the market recorded less opposing activity. 

Source: CoinGlass

New long positions were added, while exiting ones continued to hold. In fact, significant capital flowed into Futures. 

The memecoin saw $168.44 million in Futures inflow, compared to $165.35 million in Sell Volume. As a result, Futures Netflow surged 136.74% to $3.09 million, a clear signal of buyer dominance. 

Source: CoinGlass

Meanwhile, PIPPIN’s Long/Short Ratio jumped to 1.0251, but averaged around 0.5 across Binance and OKX. Often, a Ratio above 1 suggests that investors mainly deployed capital into taking long positions. 

Buyers defend key levels
In the Spot market, as PIPPIN dropped below its critical zone, buyers stepped in and bought the dip. 

According to TradingView, PIPPIN’s liquidity significantly dropped. Volume dropped to 3 million over the past 24 hours, compared to the 14-day moving average of 24.64 million. 

Source: TradingView

The A/D Moving Average is at 10.44 million at press time, indicating reduced market participation. 

Despite the reduced liquidity, buyers have dominated the market. At press time, Buy Sell Volume sat around 881k, while Buy Volume was 811.33k compared to 70.44k in sell volume.

The market shows extreme buying dominance with 98% while sellers controlled only 2% of the total. 

Is the uptrend momentum sustainable?
PIPPIN rebounded as buyers stepped in across the Spot and Futures market and defended $0.4 zone.

As a result, the memecoin’s Relative Strength Index (RSI) made a bullish crossover, hiking to 72. At the same time, its Stochastic RSI also made a bullish crossover at 51, edging into the bullish zone.

Source: TradingView

When these two momentum indicators make a bullish crossover, it signals strong upward momentum with buyers dominating the market.

Often, such a combination positions the memecoin for a potential continuation of the trend. Therefore, if buyers continue to accumulate, PIPPIN could clear the $0.5 resistance and make another high.

Conversely, if profit taking picks up, another pullback could emerge, with $0.4 acting as key support.

Final Thoughts

Pippin surged 20.27% after successfully defending $0.4 and jumped to a local high of $0.48.
PIPPIN is well-positioned to reclaim $0.5 and target another eye if buying momentum. 

The Bitcoin Development Pledge aligns with the king’s vision of applying modern digital technologies to serve the people of Bhutan and future generations.

The Kingdom of Bhutan has taken its adoption of bitcoin (BTC) a step further by allocating a portion of its reserves to the development of its new special administrative region, Gelephu Mindfulness City (GMC).

According to a press release sent to CryptoPotato, the country will channel 10,000 BTC, worth roughly $1 billion, to support the long-term development of GMC. GMC is a new economic hub designed for mindfulness, sustainability, and innovation.

Bhutan Unveils Bitcoin Development Pledge
Bhutan’s ruler, His Majesty King Jigme Khesar Namgyel Wangchuck, unveiled the Bitcoin Development Pledge via his National Day Address earlier this week. The commitment aligns with the king’s vision of applying modern digital technologies to serve the people of Bhutan and future generations.

The country will assess several approaches that would enable the long-term use of the pledged assets. The options under consideration include collateralising the Kingdom’s bitcoin holdings, implementing yield management strategies, and preserving asset value while holding them long-term.

Bhutan will guide any use of BTC in the GMC by prudence and strong governance, ensuring transparency and capital preservation. The country will prioritize preserving long-term potential while developing the economic hub in a stable and sustainable manner.

Jigdrel Singay, Board Director at GMC, commented on the approach, saying: “Bhutan’s position is that its Bitcoin holdings are intended for the long term, and that commitment is reiterated clearly in the Development Pledge. The specific strategy is still being worked on, and the examples mentioned in the announcement outline the range of responsible options under consideration. There is no change to Bhutan’s long-term stewardship approach toward its Bitcoin reserves.”

GMC to be Powered by Digital Infrastructure
Besides being a mindfulness hub, GMC will also provide regulatory clarity, financial connectivity, and a long-term environment for collaboration. The hub is open to partnerships from both local and international digital asset entities. Bhutan has already integrated digital assets into the hub’s strategic reserves and enabled crypto-based payments across services. The Kingdom has also launched TER, a sovereign-backed token linked to physical gold.

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These efforts build on the country’s track record of being one of the earliest adopters of BTC and digital asset infrastructure. Since 2017, Bhutan has quietly been mining BTC using clean energy.

“As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC…This commitment is for our people, our youth, and our nation,” Bhutan’s ruler stated.

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Bitcoin has shown mixed price action in recent sessions, marked by sharp fluctuations and tentative recovery attempts. BTC rebounded after a brief breakdown, yet momentum remains fragile. 

A key concern is weakening confidence among one of Bitcoin’s most influential cohorts, which could complicate efforts to sustain a broader price recovery.

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Bitcoin Holders Witness A Dip In GainsBitcoin long-term holders have increased selling activity over the past several days. On-chain data shows the 30-day change in long-term holder supply has dropped to a 20-month low.

Similar levels were last recorded in April 2024, signaling elevated distribution pressure.

This behavior suggests long-term holders are reducing exposure to protect remaining gains. As unrealized profits shrink, selling accelerates to avoid losses. Such actions often weigh on price recovery, as supply increases without a matching rise in new demand.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Bitcoin LTH Position Change. Source: GlassnodeMacro indicators provide additional context. The long-term holder net unrealized profit or loss metric has declined to a monthly low. This drop indicates profits among this group are eroding, increasing sensitivity to further downside moves.

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Historically, falling LTH NUPL readings trigger defensive selling. However, once the indicator declines further, selling pressure often slows.

At those levels, long-term holders typically pause distribution, allowing Bitcoin price to stabilize and potentially recover if demand improves.

Bitcoin LTH NUPL. Source: GlassnodeBTC Price Is Awaiting Stronger CuesBitcoin trades near $87,900 at the time of writing, remaining below the $88,210 resistance. The asset recently bounced after briefly slipping under the $86,247 support. This recovery shows buyers are still active at lower levels, though conviction remains cautious.

A short-term climb toward $90,308 remains possible. However, resistance near that level could cap gains. Given ongoing long-term holder selling, Bitcoin may continue consolidating near the $88,201 zone while the market absorbs excess supply.

Bitcoin Price Analysis. Source: TradingViewUpside potential improves if long-term holders shift their stance. A slowdown in selling could reduce overhead pressure.

In that scenario, Bitcoin may break above $90,308 and target $92,933. Such a move would invalidate the bearish thesis and signal renewed confidence among key market participants.

2 mins mins

Key Points:

Immediate implications focus on Tether’s venture into AI integration within crypto wallets, indicating a strategic shift toward enhanced digital asset accessibility.The wallet development hints at broader cryptocurrency support but currently centers on these primary tokens.Community and market responses remain speculative, with no official remarks from high-profile figures or institutions.
Tether CEO Paolo Ardoino announced the development of a mobile cryptocurrency wallet integrating AI, supporting Bitcoin, USDT, USAT, and XAUT, leveraging tools like WDK and QVAC.

This new development targets enhanced utility and security, potentially impacting Bitcoin and Tether’s asset adoption, amid keen interest in AI-enhanced financial tools.

Tether Develops AI-Driven Wallet for Major Cryptos
Tether CEO Paolo Ardoino announced the development of a mobile cryptocurrency wallet featuring AI integration. The wallet will support Bitcoin, USDT, USAT, and XAUT. Tether is currently seeking a Chief Software Engineer to spearhead this initiative.

Tether has initiated development on a mobile cryptocurrency wallet, incorporating AI functionalities through QVAC, an open-source decentralized platform. The wallet, announced by Tether CEO Paolo Ardoino, intends to support Bitcoin, USDT, USAT, and XAUT tokens.

It appears that you’re requesting a compilation of quotes from primary sources regarding Tether’s recent announcements, particularly from the CEO, Paolo Ardoino. However, based on your description, it seems that only secondary news sources are available, and these do not provide direct quotations or links to primary sources. Therefore, I will reference the sources you’ve mentioned and format the response according to your specifications while noting the absence of actual quotes.
Exploring Tether’s AI Integration and Market Impact
Did you know? In previous technological expansions, Tether’s aim to launch tokenized assets initiated widespread adoption and accessibility improvements across traditional and digital financial sectors.

Bitcoin (BTC) remains a dominant force, priced at $88,397.04 with a $1.76 trillion market cap, as recorded by CoinMarketCap. Bitcoin’s trading volume increased 24.33%, and the market dominance stands at 59.07% despite notable price fluctuations over extended periods.

Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 22:43 UTC on December 21, 2025. Source: CoinMarketCap

Insights from the Coincu research team emphasize the potential financial and regulatory challenges in integrating AI within cryptocurrency wallets. Historical trends suggest that technological adoption may hinge on both consumer trust and regulatory clarifications.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Blockchain

BNB Chain spent 2025 strengthening the parts of the network most users never see.

According to developer updates and on-chain metrics from Messari, improvements in execution speed, block construction, and MEV handling reshaped how the chain operates at a fundamental level.

Rather than a single headline upgrade, progress came from coordinated changes across the stack.

Execution Performance Improves At The Client Level
A key technical step was the alpha deployment of the Reth execution client. The new client reduced synchronization times and lowered latency, easing the load on validators and node operators. Faster execution translated into smoother block processing and more consistent network performance.

These gains addressed long-standing efficiency bottlenecks rather than adding new features.

Infrastructure maturity on BNB Chain stood out in 2025:

🔸 Reth client alpha launched with faster syncs and lower latency
🔸 99.8% of blocks used the Builder API
🔸 Sandwich attacks fell by more than 95% through MEV protections

Read more: https://t.co/hNbHmGbFDP pic.twitter.com/rbeARbiGrV

— BNB Chain Developers (@BNBChainDevs) December 21, 2025

Block Production Becomes Standardized
By late 2025, block construction on BNB Chain converged around a single method. Nearly 99.8% of blocks were produced via the Builder API, marking near-total adoption. This shift reduced fragmentation in block assembly and introduced greater predictability into how transactions are ordered and included.

Standardization also laid the groundwork for more effective MEV controls.

MEV Management Replaces MEV Chaos
MEV activity did not disappear in 2025. It became structured. Following the rollout of BEP-322, MEV-aware block production surged, rising 136.1% in Q3 alone. At the same time, one of the most harmful outcomes of uncontrolled MEV, sandwich attacks, collapsed by over 95%.

The data shows a clear distinction. MEV extraction increased, but user harm declined sharply. This reflects improved coordination between builders and validators rather than simple suppression.

What The Metrics Actually Show
Taken together, the numbers point to a network that learned how to manage complexity. Faster clients improved baseline execution. Unified block building reduced inefficiency. MEV protections shifted extraction away from retail traders.

This is not about eliminating adversarial behavior. It is about containing it.

Why This Matters Going Forward
Infrastructure maturity is often invisible during bull markets and critical during stress. With most blocks now built through a common API and MEV risks substantially reduced, BNB Chain enters the next cycle with stronger technical guarantees than in prior years.

The 2025 upgrades signal a transition. BNB Chain is moving from rapid expansion toward operational stability, a prerequisite for long-term DeFi sustainability and network credibility.

Author

Alexander Zdravkov

Reporter at CoinsPress

Alexander Zdravkov interessiert sich leidenschaftlich für Bedeutungsfragen. Er ist seit mehr als drei Jahren im Kryptobereich tätig und hat ein Auge dafür, aufkommende Trends in der Welt der digitalen Währungen aufzuspüren. Ob er nun tiefgreifende Analysen liefert oder tagesaktuell über alle Themen berichtet, sein tiefes Verständnis und seine Begeisterung für das, was er tut, macht ihn zu einer wertvollen Ergänzung für das CoinsPress-Team.

One of these cryptocurrencies is a major global asset. The other has a cartoon dog as a mascot.

Bitcoin (BTC +0.17%) and Shiba Inu (SHIB 2.06%) are two of the most popular cryptocurrencies, and both have been millionaire makers for early investors.

That's where the similarities end. In most respects, these cryptocurrencies are polar opposites, including their prospects as investments.

Image source: Getty Images.

Bitcoin is the clear choice over Shiba Inu
While there are millions of cryptocurrencies, it's a top-heavy market that's dominated by Bitcoin. Bitcoin has been the largest cryptocurrency from the beginning, and its $1.7 trillion market cap makes up nearly 60% of the entire crypto market (as of Dec. 18).

One of Bitcoin's key features is a hard cap of 21 million coins. This built-in scarcity has helped turn it into a digital store of value used by individuals, companies, and institutional investors.

Shiba Inu has a maximum supply, as well -- but of nearly 590 trillion SHIB tokens, not what anyone would consider scarce. It also hasn't been a reliable source of value. Shiba Inu's price skyrocketed in 2021, but since then, it has lost over 90% of its value. As a meme coin, Shiba Inu is a speculative asset without any legitimate value.

Today's Change

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146.86

Current Price

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88495.00

Bitcoin is highly volatile, but it has been the most resilient cryptocurrency, recovering from every bear market. Although Bitcoin experienced an extended downturn starting in 2021, it rebounded and set new all-time highs in 2024 and 2025.

If you're going to invest in cryptocurrency, Bitcoin is worth having in your portfolio, considering how important it is to the market. Shiba Inu is better off avoiding, as there's no reason to expect its value will increase going forward.

Lyle Daly has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

Midnight has extended its sharp rally as strong investor demand pushed the token to a new all-time high. The project associated with Cardano founder Charles Hoskinson continues to attract attention after sustaining upside momentum. 

While NIGHT has already delivered outsized gains, technical and macro signals suggest additional upside potential remains.

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Midnight Holders Are Watching A New SunriseInvestor support for NIGHT remains firm. The Chaikin Money Flow sits in positive territory above the zero line, confirming net inflows. Although the indicator dipped slightly over the past 48 hours, capital continues entering the asset, signaling ongoing confidence rather than distribution.

Much of this demand is linked to Midnight’s association with Charles Hoskinson, the founder of Cardano. That connection has boosted credibility and visibility.

In the short term, this narrative-driven interest is likely to keep capital rotating into NIGHT, supporting elevated price levels.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

NIGHT CMF. Source: TradingViewSponsored

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Macro conditions also favor NIGHT’s performance. The token shows a weak correlation with Bitcoin, insulating it from broader market uncertainty. This independence has allowed NIGHT to trend higher even as Bitcoin struggles to regain momentum.

Low correlation often benefits emerging assets during periods of BTC consolidation. With Bitcoin lacking a clear recovery signal, NIGHT’s ability to move on its own fundamentals remains a key advantage. This dynamic could continue supporting relative outperformance in the near term.

NIGHT Correlation To Bitcoin. Source: TradingViewNIGHT Price Forms New All-Time HighMidnight price surged 42.7% over the past 24 hours, trading near $0.093 at the time of writing. The rally resulted in a new intraday all-time high of $0.096. Momentum remains strong, reflecting aggressive buying and sustained interest following the breakout.

Bullish sentiment and favorable macro conditions support further upside. If current trends persist, NIGHT could push beyond the $0.100 level. Entering the 10-cent range would mark a psychological milestone, potentially drawing additional speculative interest and reinforcing momentum.

NIGHT Price Analysis. Source: TradingViewRisks remain if holders begin taking profits. A wave of selling could pull NIGHT back toward the $0.075 support. Losing that level would weaken the bullish structure. Further downside could extend to $0.060, invalidating the current bullish thesis and increasing volatility.

Cover image via www.freepik.com

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

The market might take another recovery attempt sooner than anticipated. Unfortunately though, there are not many upside possibilities for XRP, SHIB or even BTC. On Monday we will see a spike in institutional and retail presence, which should give us a heads-up for the upcoming week.

Shiba Inu goes back in timeIn a sense, Shiba Inu is trading backward. Following several unsuccessful attempts at recovery in 2024 and 2025, SHIB has returned to levels last observed in 2023, erasing a full year of speculative gains. That alone is a warning sign, but the structure beneath it exacerbates the problem.

SHIB/USDT Chart by TradingViewFrom the perspective of pure price action, SHIB is stuck in a long-term decline. On the daily chart, every significant moving average is sloping downward, and the price remains well below all of them. Attempts to recover short-term resistance have been feeble and fleeting, consistently encountering sell pressure. There is a steady, gradual distribution with no indication of accumulation.

HOT Stories

Volume confirms this. Upside candles lack follow-through, while spikes almost always occur on downward movements. Returning to 2023 levels matters because it alters market perception. Anyone who bought dips in 2024 or 2025 is now underwater, creating overhead supply across the entire range above the current price. Any bounce is more likely to be sold into than chased.

Practically speaking, for SHIB to absorb that supply would require a structural catalyst rather than a tweet or a burn headline. None are apparent. This is further supported by the RSI holding in the low 40s. That is not an oversold panic bottom, but a weak market slowly declining. Without capitulation to signal an end, these trends are the hardest to reverse.

The recovery narrative is effectively invalidated by a return to 2023 pricing, which is the larger issue. The speculative moment for SHIB has already occurred. Since then, the token has failed to establish a higher low on a macro time frame, liquidity has declined and relative performance against majors has declined. That is erosion, not consolidation. Demand would need to be strong enough to overcome years of stagnant supply for any recovery to be sustainable.

XRP's chance to stabilizeIt appears that XRP has finally stopped bleeding. The price has begun to stabilize and push back above $1.90 after weeks of declining inside a descending channel, printing a significant green daily candle. This is not an isolated bounce; it is occurring at the point where downward momentum has run out.

Since October, XRP has adhered to a distinct bearish channel. Sellers are no longer driving prices lower, which is the key change. The most recent push higher was accompanied by cleaner participation, while volume on down candles has diminished. That is typically the first indication that short-term positioning is crowded on the wrong side and that distribution is coming to an end.

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The $2 level now serves as the pivot. It is more than a round number. During the most recent sell-off, XRP repeatedly faltered here, flipping from support to resistance. A reclaim of $2 would place the price back above the lower bound of the broken structure and pose a threat to the mid-range of the broader consolidation. Put simply, rallies are sold below $2, and sellers become uneasy above it.

There is also a psychological element. Earlier in the cycle, XRP spent significant time above $2. When it fell below that level, forced exits and momentum unwinds followed. If the price returns there, those same participants are more likely to reenter rather than exit. That reflexive behavior can create upside pressure, particularly if shorts lean into resistance too early.

Momentum indicators support this view. RSI has moved out of weak territory without entering overbought conditions, which is exactly what you want to see in the early stages of a potential reversal. This is stabilization, not euphoria.

None of this guarantees a straight move higher. Follow-through is required to confirm the move, as XRP still faces notable overhead supply between $2.10 and $2.40. That said, sellers are no longer able to extract easy profits from the market, which materially changes the dynamic.

Bitcoin is not sleepingFollowing a steep decline that destroyed weeks of upward momentum, Bitcoin is attempting to regain its footing. Price is currently well below the psychological $100,000 level that dominated narratives earlier in the cycle, hovering in the high $80,000s. From a structural perspective, this market is in repair mode rather than a clear uptrend.

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The daily chart tells the story clearly. BTC broke through former support near $100,000, lost its short- and midterm moving averages and accelerated lower on rising volume. As late longs were forced out and leverage was flushed, the price stabilized instead of continuing to cascade. That said, stabilization is not the same thing as a confirmed reversal.

Bitcoin is still trading below key resistance between $93,000 and $100,000. A rally into that zone will not be a free pass higher. It will be a test of conviction. Bulls must reclaim and hold those levels, otherwise upside attempts are simply relief bounces within a broader corrective structure.

Momentum indicators reflect the same uncertainty. RSI has rebounded from oversold conditions but remains muted, signaling that selling pressure has eased while genuine bullish strength has yet to return. This aligns with a market either waiting for a trigger or setting up for another leg lower.

Sentiment data reinforces this caution. On the regulated prediction market Kalshi, traders are not pricing in a rapid return to $100,000. Current odds imply that a move back to six figures is unlikely in the near term. That does not mean $100K is off the table indefinitely, but expectations have shifted from inevitability to conditionality.

Explore how sector concentration and volatility set these leveraged ETFs apart for tactical investors seeking amplified exposure.

The ProShares UltraPro QQQ ETF (TQQQ +3.90%) differs from the ProShares Ultra S&P 500 ETF (SSO +1.77%) by offering higher leverage, greater tech exposure, and notably higher volatility.

Both funds pursue leveraged daily returns, with SSO aiming for 2x the S&P 500 and TQQQ targeting 3x the Nasdaq-100. This matchup spotlights two aggressive ETFs for short-term traders or tactical investors seeking amplified index exposure, but their risk profiles and sector tilts diverge sharply.

Snapshot (cost & size)MetricSSOTQQQIssuerProSharesProSharesExpense ratio0.87%0.82%1-yr return (as of Dec. 16, 2025))16.36%16.60%Dividend yield0.69%0.72%Beta (5Y monthly)2.023.69AUM$7.3 billion$30.9 billionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

TQQQ offers advantages for both fee-conscious and income-driven investors, with a lower expense ratio and higher yield. However, both of these factors primarily impact long-term investors, and these particular leveraged ETFs are best suited as short-term investments.

Performance & risk comparisonMetricSSOTQQQMax drawdown (5 y)-46.73%-81.65%Growth of $1,000 over 5 years$2,585$2,459TQQQ’s 3x leverage has driven stronger one-year gains, but its five-year max drawdown is nearly double SSO’s, highlighting much greater downside risk. Over the past five years, both ETFs roughly doubled an initial $1,000, but SSO did so with less severe declines.

What's insideTQQQ seeks to deliver 3x the daily returns of the Nasdaq-100, making it highly concentrated in technology (55% of the fund's total assets), with additional weight in communication services (17%) and consumer cyclicals (13%).

The fund holds 101 stocks, with its largest stakes in Nvidia, Microsoft, and Apple. Its daily leverage reset and tech-heavy focus mean sharp swings and the potential for rapid losses if tech underperforms.

SSO, by contrast, offers 2x daily exposure to the S&P 500, spreading risk across a broader universe of 503 holdings. Its top holdings mirror those of TQQQ, but SSO’s sector mix is more diversified with technology making up 35% of the fund, financials at 13%, and consumer cyclical at 11%. Both funds use a daily leverage reset, which can erode returns if held long-term and volatility spikes.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsSSO and TQQQ are both high-risk, high-reward ETFs. They're designed to earn above-average returns, but SOO has been the stronger performer.

TQQQ is the higher risk of the two funds, with its 3x daily leverage and heavy tilt toward the technology industry. This ETF has the potential to substantially outperform SSO, but in recent years, that risk hasn't paid off. TQQQ's one- and five-year total returns are nearly identical to SSO's, despite this ETF experiencing much more severe volatility -- with a higher beta and a max drawdown nearly double that of SSO.

Now, this doesn't mean SSO is not a risky investment. All leveraged ETFs will carry greater risk, especially if held long-term. But SSO tracks the S&P 500 and only aims for 2x the daily returns of the index, which results in greater diversification and milder price fluctuations.

If you're considering investing in either of these ETFs, be prepared for substantial ups and downs. But between the two funds, TQQQ has struggled with volatility over the last few years with little payoff.

GlossaryExpense ratio: The annual fee, as a percentage of assets, that a fund charges to cover operating costs.
Leverage: The use of borrowed money or derivatives to amplify investment returns, increasing both potential gains and losses.
ETF (Exchange-Traded Fund): A fund traded on stock exchanges that holds a basket of assets, like stocks or bonds.
Drawdown: The percentage decline from a fund’s peak value to its lowest point over a specific period.
Beta: A measure of an investment’s volatility compared to the overall market, typically the S&P 500.
Dividend yield: Annual dividends paid by a fund or stock, expressed as a percentage of its current price.
AUM (Assets Under Management): The total market value of assets that a fund manages on behalf of investors.
Sector: A group of companies or assets operating in the same segment of the economy, such as technology or financials.
Daily leverage reset: The process by which leveraged ETFs adjust their exposure each day to maintain a set leverage ratio.
Nasdaq-100: An index of 100 of the largest non-financial companies listed on the Nasdaq stock exchange.
S&P 500: An index tracking the 500 largest publicly traded companies in the United States.
Consumer cyclicals: Companies whose performance tends to follow economic cycles, like retailers, automakers, and travel firms.

CEO Calvin McDonald is stepping down in January. New leadership could help the stock rebound.

Calvin McDonald's nearly seven-year tenure as the chief executive officer of Lululemon Athletica (LULU 2.63%) can be compared to a pair of luxury yoga pants that don't quite fit: Uncomfortable at best, and an expensive mistake at worst. McDonald will step down from the company's helm at the end of January 2026, and, thus far, the stock has responded positively to this announced change in leadership. Shares of Lululemon surged more than 6.5% from the announcement as of close on Dec. 17.

Today's Change

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Current Price

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209.45

A lot of criticism and calls for change
A renewed energy is now benefiting Lululemon. Elliott Investment Management even went so far as to build its equity stake in the company to more than $1 billion after the announcement of McDonald's resignation. The private-equity fund is pushing its own candidate, former Ralph Lauren executive Jane Nielsen, to take over as CEO in the new year. The activist founder of Lululemon, Chip Wilson, has also been outspoken in his criticisms of the company, claiming that "years of bad decisions" regarding product and execution have eroded the brand and shareholder value.

Image source: Getty Images.

Lululemon stock has declined by more than 40% over the past five years. The premium athleisure retailer has struggled to maintain market share in an increasingly competitive landscape.

Lululemon needs to reclaim its cool
It's not all bad news, though. Lululemon's balance sheet is quite strong. Its revenues far exceed its debt load, and it expects to end 2025 with approximately $11 billion in net revenue.

Lululemon's stock remains attractive compared to other sports brands, such as Nike and Adidas. Lululemon has a higher earnings per share (EPS), hovering around $14, and a lower price-to-earnings (P/E) ratio of about 15 than both Nike and Adidas. The stock is currently trading about halfway between its 52-week low and high.

Ultimately, whether Lululemon stock is a buy now depends on execution risk. If the company and a new CEO can recapture its essence as the leader of "cool" in athleisure, a rebound in the stock could be imminent.

Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lululemon Athletica Inc. and Nike. The Motley Fool has a disclosure policy.

Highlights:

Gold bar weighing 2.64 kilograms (85 oz) poured in the first smelt on site at the Kiniéro Gold Project, Guinea.First gold delivered on schedule and within budget.Nearly 5 million hours worked without a Lost Time Injury (LTI).Ramp-up progressing smoothly; plant achieving recoveries in line with expectations.Kiniéro plant expected to reach nameplate capacity in early Q1 CY2026.Open-pit mining ramping up from South Sabali starter pit, with ore stockpiles continuing to build on the ROM pad.Matthew Wilcox appointed Managing Director & CEO in May 2024; construction team mobilised July 2024. Construction completed in 17 months—the team’s sixth successful build in 15 years, all delivered on time and on budget.Robex secures exclusive option to buy back and fully extinguish the Mansounia royalties.Kiniéro becomes Robex’s second producing asset, alongside Nampala in Mali (guidance of 46,000 to 48,000 oz/year).Successful delivery of Kiniéro by the Robex team underscores the compelling rationale for the proposed merger with Predictive Discovery ahead of construction of its Bankan Gold Project, Guinea, located within 25km of Kiniéro.The proposed merger will create West Africa’s next tier-1 gold mining hub, combining Kiniéro and Bankan with projected 400koz+ annual production by 2029 and combined resources of ~9.5Moz Au.

Figure 1: Robex construction team with Managing Director & CEO Matthew Wilcox and Chief Financial Officer Alain William celebrating the first gold pour at Kiniero.

QUEBEC CITY, Dec. 21, 2025 (GLOBE NEWSWIRE) -- West African gold producer and developer Robex Resources Inc (“Robex” or the “Company”) (ASX: RXR | TSX-V: RBX) is pleased to report it has poured first gold on schedule and within budget at its Kiniéro Gold Project (“Kiniéro”) in Guinea, West Africa.

Robex’s Managing Director and Chief Executive Officer Matthew Wilcox said:

“This is a major milestone for Robex, and every member of our team should be proud of what we have accomplished together at Kiniéro. Completing construction and commencing gold production is the culmination of 17 months of dedication and hard work, delivered safely and responsibly with nearly 5 million hours worked without a lost time injury.

Pouring first gold at Kiniéro reflects the calibre of our people, the strength of our execution and is the sixth successful build in the last 15 years by this construction team, all on time and on budget. This exceptional track record, combined with recent Guinea construction experience, gives us absolute confidence that this is the best team in the industry right now to bring Bankan into production and deliver another world-class West African gold project.

We are looking forward to completing our merger with Predictive, and the combined company is positioned to become West Africa’s next mid-tier gold producer and establish a tier-1 gold mining hub in Guinea.”

Operational Update

Commissioning activities at Kiniéro’s processing plant are progressing in line with expectations. Mechanical, electrical, and instrumentation systems are performing to design specifications.Ore delivery to the mill commenced earlier this month, and the plant is achieving recoveries consistent with feasibility study assumptions.Open-pit mining has ramped up at the South Sabali starter pit, with drilling and blasting underway and ore stockpiles building on the ROM pad.These activities will support a smooth transition to commercial production, targeted for Q1 CY2026.

Figure 2: Aerial View of the Kiniéro Gold Project – Ore Delivered to Train A CIL Tanks

Operational Activities at the Kiniéro Gold Project:

Figure 3: Haulage Operations at Kiniéro Site

Figure 4: Ore Feed to Saprolite Crusher

Figure 5: First Ore Processed through Saprolite Crusher

Figure 6: Material Delivered to the Mill Circuit

Figure 7: Train A CIL Tanks Gold Processing

Figure 8: Water Treatment Facility

Mansounia Royalty Buyback – Penta Goldfields Company

Robex has secured an exclusive option to buy back and extinguish the Mansounia royalty, which currently stands at:

3% NSR for the first 150,000 oz of gold produced from the Mansounia exploitation permits,3.25% NSR for 150,000–300,000 oz,3.5% NSR for production above 300,000 oz.
Under the executed agreement:

Robex paid a US$1 million non-refundable option fee.Upon exercise, Robex will pay US$5 million in cash plus US$15 million in equity to fully extinguish the royalty. Oragem Royalty

In addition, Robex has secured an exclusive option to buy back and extinguish the Oragem Royalty, which currently stands at 0.5% NSR from the Mansounia permit.

Robex has paid a non-refundable option fee of US$250,000. Upon exercise of the option, Robex will pay US$3.5 million in cash to fully extinguish the Oragem Royalty.

Conditions precedent

The options to buy back and extinguish the Mansounia Royalties are subject to conditions precedent, notably the grant of Mansounia exploitation permits, and will remain valid until the Permit Long Stop Date (10 years from execution).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This announcement was approved by the Managing Director.

Robex Resources Inc.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
Email: [email protected]
www.robexgold.com

Investors and Media:
Michael Vaughan, Fivemark Partners
Phone: +61 422 602 720
Email: [email protected]

ABOUT ROBEX RESOURCES INC.

Robex Resources is a Canadian gold mining company listed on the TSX-V and ASX, and headquartered in Quebec, Canada. Robex’s material properties consist of the Nampala Project in Mali and the Kiniero Project in Guinea.

Not an Offer

No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

Forward-looking Statements

This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “Forward-looking Information”). These include statements regarding future outlook and anticipated events, such as the consummation and timing of the Transaction and the satisfaction of the closing conditions under the Arrangement Agreement; the timing of the Meeting and of the Revised Proxy Deadline and Revised CDI VIF Deadline; the filing and delivery of the Addendum, press release and any other ancillary materials; pro forma ownership of the Combined Company; and future plans, projections, objectives, estimates and forecasts and the timing related thereto. All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could or may or will occur are Forward-looking Information. Forward-looking Information is generally identified by the use of words like “will”, “create”, “enhance”, “improve”, “potential”, “expect”, “upside”, “growth”, “estimate”, “anticipate” and similar expressions and phrases or statements that certain actions, events or results “may”, “could”, or “should”, or the negative or grammatical variations of such terms, are intended to identify Forward-looking Information. Although Robex believes that the expectations reflected in the Forward-looking Information are reasonable, undue reliance should not be placed on Forward- looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Robex as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-looking Information. Forward-looking Information involves numerous risks and uncertainties. Such factors may include, but are not limited to, risks related to the closing of the Arrangement, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary approvals, licenses and permits and diminishing quantities or grades of reserves, political and social risks (including, but not limited to, in Guinea, Ivory Coast, Mali and West Africa more broadly), changes to the legal and regulatory framework within which Robex operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation, as well as the risks identified in the section titled “Risk Factors” in Robex’s most recently filed Annual Information Form which is available on SEDAR+ at www.sedarplus.ca. Forward-looking Information is designed to help readers understand Robex' views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Robex assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Robex updates any Forward-looking Information, no inference should be drawn that Robex will make additional updates with respect to such or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.

JORC CODE AND CIM DEFINITION STANDARDS
The term “Ore Reserve” defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (“JORC Code”) is equivalent to the term “Mineral Reserve” defined by the CIM Definition Standards for Mineral Resources & Mineral Reserves adopted by the Canadian Institute of Mining, Metallurgy and Petroleum May 19, 2014 (“CIM Definition Standards”). “Inferred Mineral Resources”, “Indicated Mineral Resources” and “Measured Mineral Resources” have the same meaning under both the JORC Code and CIM Definition Standards. “Proved Mineral Reserves” under the JORC Code has the same meaning as “Proven Mineral Reserves” under the CIM Definition Standards, and “Probable Mineral Reserves” under the JORC Code has the same meaning as “Probable Mineral Reserves” under the CIM Definition Standards. The JORC Code is an acceptable foreign code under NI 43-101.

Mineral Resources and Ore Reserve Estimates, and Production Targets
This announcement refers to PDI and Robex having combined Mineral Resource and Ore Reserve estimates of approximately 9.5Moz Au and approximately 4.5Moz Au respectively. Further information regarding the individual Mineral Resource and Ore Reserve estimates of each of PDI and Robex is set out below.

PDI

Mineral Resource and Ore Reserve Estimates
The Mineral Resource estimates for the NEB and BC projects were released to ASX on 7 August 2023 in an announcement by PDI titled “Bankan Mineral Resource Increases to 5.38Moz” and the Mineral Resource estimates in respect of the Fouwagbe and Sounsoun projects were released to the ASX on 23 April 2025 in an announcement by PDI titled “Maiden Argo Mineral Resource Estimate of 153koz”. The Ore Reserve estimate in respect of the Bankan Project was released to ASX on 25 June 2025 in an announcement by PDI titled “Bankan DFS Confirms Outstanding Project Economics”. PDI confirms it is not aware of any new information or data that materially affects the Mineral Resource or Ore Reserve estimates and all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in the relevant market announcement continue to apply and have not materially changed, noting that PDI intends to appeal the Argo (and Bokoro) revocations announced on 28 May 2025 in accordance with the Mining Code, and that the Argo Inferred Mineral Resources account for just 2.8% of PDI’s overall Mineral Resource.

Production Targets
The Production Targets and forecast financial information in respect of the Bankan Project were released to the ASX on 25 June 2025 in an announcement by PDI titled “Bankan DFS Confirms Outstanding Project Economics”. PDI confirms that all the material assumptions underpinning the Production Targets and forecast financial information derived from the Production Targets in the previous announcement continue to apply and have not materially changed.

Robex

Mineral Resource and Ore Reserve Estimates
The Mineral Resource and Ore Reserve estimates in respect of Robex’s Kiniero Project were released to ASX on 22 August 2025 in an announcement by Robex titled “Amendment to Kiniero Gold Project Technical Report”, and in respect of the Nampala Project in an ASX announcement by Robex dated 6 May 2025 titled “Replacement Prospectus”. Robex confirms that it is not aware of any new information or data that materially affects the Mineral Resource and Ore Reserve estimates included in the relevant market announcement and all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed.

Production Targets
The production targets and forecast financial information in respect of Robex’s Kiniero Project was released to ASX on 22 August 2025 in an announcement by Robex titled “Amendment to Kiniero Gold Project Technical Report”, and in respect of the Nampala Project in an ASX announcement by Robex dated 6 May 2025 titled “Replacement Prospectus”. Robex confirms that all the material assumptions underpinning the production targets and forecast financial information derived from the production targets in the relevant market announcement continue to apply and have not materially changed.

National Instrument 43-101
All scientific and technical information in this presentation relating to Robex has been reviewed and approved by Mr. Jeames McKibben, a Chartered Professional Fellow of the Australian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, and a “qualified person” as defined in NI 43-101.

Readers are referred to the technical report for the Nampala Project entitled “Independent Technical Report on the Nampala, Mininko, Gladie and Kamasso Permits and a Mineral Resource and Reserve Estimate of the Nampala Gold Mine, Mali, West Africa” effective September 30, 2024 (the “Nampala Technical Report), and the amended and restated technical report for the Kiniero Project entitled “Technical Report, Kiniero Gold Project, Guinea (Amended)” with an effective date of December 6, 2024, as amended and restated on June 12, 2025 (the “Kiniero Technical Report”), each of which has been prepared in accordance with NI 43-101 and is available on Robex’s profile on SEDAR+ at www.sedarplus.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

PDI Ore Reserve and Mineral Resource Statement
Bankan Ore Reserve Statement1,2

DepositMining MethodClassificationTonnage
(Mt)Gold Grade
(g/t Au)Contained
(Koz Au)NEBOpen PitProbable40.21.361,751UndergroundProbable7.93.951,002Total 48.11.782,753BC Open PitOpen PitProbable3.51.78200Total 3.51.78200Total Open Pit  43.71.391,951Total Underground  7.93.951,002Total Bankan Project  51.61.782,953
Bankan Mineral Resource Estimate3,4

DepositClassificationTonnage
(Mt)Gold Grade
(g/t Au)Contained
(Koz Au)NEB Open PitIndicated78.41.553,900Inferred3.10.9192Total81.41.533,993NEB UndergroundInferred6.84.07896NEB Total 88.31.724,888BC Open PitIndicated5.31.42244Inferred6.91.09243BC Total 12.21.24487NEB Area Total 100.51.665,376FouwagbeInferred2.21.68119SounsounInferred0.91.1934Argo Area Total 3.11.54153Total Bankan Project 103.61.665,528
Robex Mineral Reserve and Resource Statement
Kiniero Mineral Reserve and Resource Statement5,6

DepositTonnage
(Mt)Gold Grade
(g/t Au)Contained
(Moz Au)Probable   Jean4.21.530.20SGA5.11.520.25SGD3.41.340.14Sabali South7.40.890.21Sabali North and Central1.50.960.05Mansounia17.70.810.46Stockpiles6.30.480.10Total45.50.971.41Indicated   SGA12.11.460.57Jean4.71.690.26Sabali North and Central3.71.210.14Sabali South11.10.910.32West Balan3.01.450.14Banfara0.91.000.03Mansounia Central24.00.780.60Stockpiles11.60.370.14Total71.20.962.20Inferred   SGA10.61.430.49Jean2.21.470.1Sabali North and Central0.71.390.03Sabali South2.71.010.09West Balan2.01.270.08Banfara0.71.450.03Mansounia Central26.30.820.7Stockpiles0.21.310.01Total45.31.051.53
Nampala Mineral Reserve and Resource Statement7,8

Weathering TypeTonnage
(Mt)Gold Grade
(g/t Au)Contained
(Koz Au)Probable   Oxide3.30.9094.6Transition0.81.0626.4Total4.00.93121.0Indicated   Oxide5.90.84158.3Transition2.11.1376.0Fresh0.13.009.4Total8.00.94243.7Inferred   Oxide0.30.798.1Transition0.21.628.5Fresh0.012.530.4Total0.60.9517.0 1 Refer to PDI ASX release “Bankan DFS Confirms Outstanding Project Economics” dated 25 June 2025.
2 Reserve cut-off: Open Pit 0.38-0.48 g/t Au, Underground 2.0 g/t Au.
3 Resource cut-off: NEB Open Pit indicated & inferred 0.5 g/t Au, NEB Underground inferred 2.0 g/t Au, BC Open Pit indicated and inferred 0.4 g/t Au, Fouwagbe and Sounsoun inferred 0.5 g/t Au.
4 In relation to the Fouwagbe and Sounsoun deposits (Argo Permit), PDI intends to appeal the Argo and Bokoro revocations announced on 28 May 2025 in accordance with the Mining Code. Refer to PDI ASX release “Argo and Bokoro Exploration Permits Update” dated 28 May 2025.
5 Refer to Robex announcement titled “Amendment to Kiniero Gold Project Technical Report” dated 22 August 2025 and the Kiniero Technical Report.
6 Resource/reserve cut-off grade (Resource at US$2,200/oz, reserves at US$1,800/oz): SGA, Jean and Banfara: laterite 0.3 g/t Au, saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.3 g/t Au, fresh 0.4 g/t Au; Sabali South: laterite 0.3 g/t Au, mottled zone/saprolite/lower saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.5 g/t Au, fresh 0.6 g/t Au; Sabali North and Central: laterite 0.3 g/t Au, saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.6 g/t Au, fresh 0.6 g/t Au; West Balan: laterite 0.3 g/t Au, saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.3 g/t Au, fresh 0.5 g/t Au; Stockpiles reported as Mineral Resources have been limited to those dumps which exhibit an average grade >0.3 g/t Au for the entire stockpile assuming no selectivity.
7 Refer to Robex announcement titled “Replacement Prospectus” dated 6 May 2025 and the Nampala Technical Report.
8 Resource cut-off grade (at US$2,200/oz): Laterite 0.35 g/t Au, Oxide 0.35 g/t Au, Transition 0.43 g/t Au, Fresh 1.89 g/t Au; Reserve cut-off grade (at US$1,800/oz): 0.4 g/t Au (laterite, mottled zone, saprolite and transition).

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Secures the company's first U.S.-based manufacturing site, strengthening and diversifying its global supply network
Additional investments planned to expand the site's capacity (currently at 60,000 liters of drug substance) and capabilities to support growing manufacturing programs
Underscores Samsung Biologics' long-term dedication to the U.S. biopharmaceutical industry and supply chain
, /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a leading contract development and manufacturing organization (CDMO), today announced that its wholly owned U.S. subsidiary, Samsung Biologics America, has entered into a definitive agreement to acquire 100% of Human Genome Sciences from GSK (LSE/NYSE: GSK). This strategic move secures Samsung Biologics' first U.S.-based manufacturing site, a significant expansion of the company's global footprint and its long-term commitment to the U.S. market.

Samsung Biologics Expands U.S. Manufacturing Capabilities with Strategic Acquisition of Human Genome Sciences from GSK

Located in Rockville, Maryland, the facility sits at the center of one of the key U.S. bio-clusters and encompasses two cGMP manufacturing plants with a combined 60,000 liters of drug substance capacity, supporting both clinical and commercial production from small to large scale. Existing products will continue to be manufactured at the site, and Samsung Biologics plans to make additional investments to expand the site's capacity and upgrade technology to further support a more resilient U.S. supply chain for critical biologic medicines.

Under the terms of the agreement, with closing anticipated toward the end of Q1 of 2026, Samsung Biologics will acquire the Rockville assets for USD 280 million. The company will also retain more than 500 employees at the site to ensure operational continuity and stability. By integrating this facility into our global network, Samsung Biologics will provide clients with flexible, multi-site options in both the U.S. and Korea to ensure that live-saving therapeutics are reliably available to American patients.

Samsung Biologics has established a proven track record of operational and construction excellence through on-time completion of its Bio Campus I and II, and also recently secured land for Bio Campus III, which will house distinct R&D and manufacturing programs for new modalities. With 785,000 liters of capacity across five plants, the industry's leading capacity, Samsung Biologics continues to advance its diversified portfolio spanning monoclonal antibodies, antibody-drug conjugates (ADCs), mRNA, organoid-based services, and next-generation therapies.

"This landmark acquisition is a testament to our unwavering commitment to advancing global healthcare and bolstering our manufacturing capabilities in the U.S. The investment will enable us to deepen our collaboration with federal, state, and local stakeholders to best serve our customers and partners while ensuring a reliable and stable supply of life-saving therapeutics," said John Rim, CEO and President of Samsung Biologics. "This marks an important step forward in our mission to achieve a better life through biomedicines, and we look forward to building on the legacy of this facility as we welcome experienced colleagues to the Samsung Biologics family and continue delivering innovative solutions that make a meaningful impact."

Regis Simard, President, Global Supply Chain, GSK, said: "Today's agreement to divest the Rockville manufacturing site to our valued long-term partner, Samsung Biologics, will secure the manufacture of two important medicines on US soil for US patients and further build GSK's supply chain resilience. Along with GSK's recent commitment to invest $30bn in R&D and manufacturing in the US over the next 5 years, this deal enables us to further focus on building the agility, capacity and capability needed in our manufacturing network to deliver the next generation of specialty medicines and vaccines. I am confident in a positive partnership and future for the Rockville site."  

About Samsung Biologics

Samsung Biologics (KRX: 207940.KS) is a leading contract development and manufacturing organization (CDMO), offering end-to-end integrated services that range from late discovery to commercial manufacturing.

With a combined biomanufacturing capacity of 785,000 liters across Bio Campus I and II, Samsung Biologics leverages cutting-edge technologies and expertise to advance diverse modalities, including multispecific antibodies, fusion proteins, antibody-drug conjugates, and mRNA therapeutics.

By implementing the ExellenS™ framework across its manufacturing network with standardized designs, unified processes, and advanced digitalization, Samsung Biologics ensures plant equivalency and speed for manufacturing continuity.

Samsung Biologics also operates commercial offices in Korea, the U.S., and Japan. Samsung Biologics America supports clients based in the U.S. and Europe, while its Tokyo sales office serves the APAC region.

Samsung Biologics continues to invest in new capabilities to maximize operational and quality excellence, ensuring flexibility and agility for clients. The company is committed to the on-time, in-full delivery of safe, high-quality biomedicines, as well as to making sustainable business decisions for the betterment of society and global health.

For more information, visit https://samsungbiologics.com/

Media Contact at Samsung Biologics:

Claire Kim, Senior Director [email protected] 

SOURCE Samsung Biologics

The generative artificial intelligence (AI) megatrend has allowed many older technology companies to rise from relative obscurity. And with its shares up by a whopping 170% year to date, Micron Technology (MU +6.99%) is an excellent example. Like the industry leader Nvidia, it serves the pick-and-shovel side of AI, supplying hardware that other companies will need to create consumer-facing software and services.

Let's dig deeper to see if it still has millionaire-maker potential.

Why is Micron booming?
While the AI hardware narrative tends to focus on graphics processing units (GPUs), which do the brunt of the work of running and training large language models (LLMs) like ChatGPT, there are other computer components that make the technology possible. Micron's high-bandwidth memory devices, such as DRAM and NAND flash, play a crucial role.

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The vast libraries of AI training data need to be stored somewhere. Furthermore, these algorithms rely on powerful working memory to access data in real time and answer users' questions. Micron is America's largest computer memory specialist, so it was only a matter of time before investor capital began flowing in. And the stock's growth isn't just based on hype. Operational results are also showing significant progress.

Fiscal fourth-quarter revenue surged 49% year over year to $37.38, driven by an explosion of demand from data center clients, which tend to focus on AI-related workloads. Micron is also seeing a sustained rise in gross margins (which are up from 35.3% to 44.7% year over year) as its product mix shifts toward higher-end memory products, which can command better pricing. There is still potential for continued improvements.

Can Micron's boom continue in 2026?
Historically, computer memory has been a highly cyclical industry prone to boom-and-bust cycles. This trend occurs because the products are generally commoditized and poorly differentiated from each other while having high fixed production costs and slow manufacturing lead times. When demand is high, producers invest in expanding their production capacity, leading to a glut when supply outstrips demand and pricing strategies become a race to the bottom.

These are fundamental characteristics of the industry. And unfortunately for Micron, there is no reason to believe that things will change anytime soon. That said, generative AI is already sparking a massive boom cycle for memory hardware that is very likely to continue in 2026 and beyond.

Image source: Getty Images.

Reuters reports that the ravenous generative AI demand is leading to shortages all across the computer memory industry as producers shift production capacity to higher-demand products. This trend means Micron may be able to command higher prices across its product line (which includes memory for devices ranging from smartphones to automobiles) as demand begins to outstrip supply.

Furthermore, analysts at Wells Fargo believe DRAM industry revenue could double in 2026, setting the company up for a huge amount of profit it can return to shareholders.

With a forward price-to-earnings (P/E) multiple of just 14, Micron stock is still remarkably cheap, despite its legendary rally in 2025. And memory hardware shortages could help the company maintain its outstanding momentum. While Micron probably won't make you a millionaire (because the current memory boom probably won't last forever), it looks poised for continued market-beating performance in 2026 and beyond.

The company will likely return a large portion of its growing profits to shareholders through its buyback program, which it resumed last year.  While buybacks can feel less tangible than cash dividends, they are a better way to reward shareholders because they come with tax advantages. Dividends are taxed as ordinary income, while stock price appreciation is not taxed until you sell.

Furthermore, a buyback strategy could help smooth out the inherent cyclicality of Micron's business model by reducing the number of shares outstanding relative to future earnings.

Expense ratios, portfolio breadth, and sector focus set these two tech ETFs apart. See how their differences could impact your strategy.

The Vanguard Information Technology ETF (VGT +2.02%) offers broader sector exposure, while the iShares Semiconductor ETF (SOXX +2.66%) focuses tightly on U.S. semiconductor stocks.

Both funds provide exposure to U.S. technology. However, VGT casts a much wider net, with over 300 tech-related holdings, while SOXX targets just 30 leading semiconductor stocks. This comparison may appeal to those weighing concentrated industry bets against diversified sector coverage.

Snapshot (cost & size)MetricSOXXVGTIssueriSharesVanguardExpense ratio0.34%0.09%1-yr return (as of Dec. 16, 2025)41.81%16.10%Dividend yield0.55%0.41%Beta (5Y monthly)1.771.33AUM$16.7 billion$130.0 billionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

SOXX's higher dividend yield could be appealing to income-driven investors, while VGT's lower expense ratio gives it an edge for those focused on reducing costs.

Performance & risk comparisonMetricSOXXVGTMax drawdown (5 y)-45.75%-35.08%Growth of $1,000 over 5 years$2,346$2,154What's insideVGT delivers exposure to the broader technology sector, spanning 322 stocks. Its top holdings -- Nvidia, Apple, and Microsoft -- account for a substantial portion of assets, and the fund’s nearly 22-year history reflects long-term stability. With no leverage, currency hedge, or ESG overlays, VGT offers standard tech exposure.

By contrast, SOXX is a pure-play semiconductor tracker, currently holding 30 companies and allocating heavily to Broadcom, Advanced Micro Devices, and Nvidia. Investors looking for precise exposure to U.S. chipmakers may favor SOXX’s tight industry tilt.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsVGT and SOXX offer distinct strategies with their varied exposure to the technology sector.

VGT is far more diversified, holding more than 10 times the number of stocks as SOXX. While it's solely focused on tech stocks, it includes companies from all corners of the technology industry. SOXX is much more niche, targeting only 30 semiconductor stocks.

Greater diversification can be both an asset and a hindrance with ETFs. VGT has experienced less price volatility in recent years, with a milder max drawdown and lower beta. That can give it an edge if the market stumbles, as you're less likely to see significant ups and downs with this ETF.

At the same time, though, more diversification can sometimes result in lower-performing stocks dragging down the fund's total returns. SOXX has a much stronger one-year performance, nearly tripling the returns of VGT.

Each ETF has its own unique strengths and weaknesses, so neither is necessarily the better option. Where you choose to buy will depend on whether you're looking for diversified tech exposure or highly targeted access to semiconductor stocks. Just be sure you understand the risk and reward tradeoff when considering these two particular funds.

GlossaryExpense ratio: The annual fee, as a percentage of assets, that a fund charges its investors.
ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.
Semiconductor: A material or company involved in making chips essential for electronic devices and computing.
Portfolio breadth: The range or diversity of different holdings within an investment fund.
Dividend yield: Annual dividends paid by a fund or stock divided by its current price, shown as a percentage.
Beta: A measure of an investment’s volatility compared to the overall market, typically the S&P 500.
AUM (Assets Under Management): The total market value of assets that a fund manages on behalf of investors.
Max drawdown: The largest percentage drop from a fund’s peak value to its lowest point over a specific period.
Growth of $1,000: The value $1,000 would reach if invested over a specified period, reflecting total returns.
Leverage: The use of borrowed money to increase the potential return (and risk) of an investment.
Currency hedge: A strategy to reduce the impact of currency exchange rate fluctuations on investment returns.

Katie Brockman has positions in Vanguard Information Technology ETF. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Microsoft, Nvidia, and iShares Trust - iShares Semiconductor ETF. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

The answer depends on what you believe about the artificial intelligence spending cycle.

Shares of Nvidia (NVDA +3.80%) have begun to sputter. The stock is close to flat since this summer, with investors worried about peak spending on artificial intelligence (AI) computer chips. With a share price that has risen over 1,000% in the last five years, who can blame them? Nvidia is now the largest company by market cap in the world, and while it is growing its revenue and earnings at an incredible rate right now, that could come to a halt if the AI spending boom collapses.

Does that mean Nvidia stock is set to crash next year?

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Massive current growth, cyclicality risks
There is no denying that Nvidia is growing rapidly right now. It has a lock on the AI computer chip market, meaning that virtually every large technology provider or start-up building AI models needs to buy its products. Last quarter, revenue grew 62% year over year to $57 billion, with data center revenue growing even faster.

Management says that its upcoming Blackwell computer chip is selling out of its upcoming supply, which is a good near-term determination of future growth. Profit margins are off the charts, with operating margin up to 63% last quarter.

If current growth rates continue, then Nvidia will do well for shareholders in 2026. But eventually, the AI computer chip supply will start to match demand, as it does in any spending supercycle. This will lower Nvidia's revenue growth rate, and could make it even turn negative for a short while. Profit margins are going to fall once the company loses its pricing power, especially if competition keeps rising from Alphabet's TPU chip and Amazon's Trainium chip.

A downside scenario such as this could risk Nvidia's earnings power being lower 12 months from now.

Image source: Nvidia.

A valuation that is demanding
Another reason to be concerned about Nvidia's stock in 2026 is its demanding valuation. The stock currently has a price-to-earnings ratio (P/E) of 43, which is well above the market average at a time when the market's average P/E ratio is close to an all-time high.

What does this mean? Investors buying or holding Nvidia stock in 2026 need to expect strong earnings growth in the next few quarters. Nvidia is now one of the largest companies in the world by revenue, with incredibly strong profit margins. It cannot grow revenue at 62% year over year forever with over $50 billion in quarterly revenue; there is simply not that much capital in the world capable of making these large upfront investments into Nvidia computer chips.

Data by YCharts.

Will Nvidia stock crash next year?
It is impossible to have 100% certainty regarding Nvidia's stock price trajectory in 2026. If anyone did, they could become a millionaire rather quickly.

What an investor needs to analyze is how likely it is that Nvidia's stock crashes next year. Right now, spending on AI infrastructure is growing rapidly, which is leading to huge demand for Nvidia computer chips. But there are some signs of cracks showing up in the spending plans for players such as OpenAI, Microsoft, and Oracle. Microsoft is beginning to slow its plans for data center development. OpenAI is trying to spend hundreds of billions of dollars that it doesn't have today. Oracle is turning deeply free-cash-flow-negative to build out cloud computing data centers, and investors are not happy about it.

All of these variables point to risks for Nvidia's demand in 2026. Combined with its high P/E ratio and above-average profit margins, Nvidia stock could definitely crash in 2026. I'm not saying it is guaranteed to happen, but it is something that any Nvidia shareholder needs to consider as a possibility next year.

Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, Nvidia, and Oracle. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

The streaming giant's returns have beaten the market by a wide margin.

Netflix (NFLX +0.35%) has been back in the news recently with its bid to acquire the majority of Warner Bros. Discovery's assets. Although there's a way to go until that massive deal closes (or falls apart), it represents a new direction for the streaming king.

Netflix has done this several times before -- pivoting into an adjacent business and pioneering new media directions. And if you had invested $500 in its stock 10 years ago, back when it was a different operation, the shares you bought would be worth a lot more today.

Image source: Netflix.

The new Netflix
Netflix, as most readers will know, began as a DVD-by-mail rental service, but it segued into streaming as the technological foundation required to support such services developed. It started offering streaming video subscriptions in 2007, and created its first original content in 2012. By 2015, Netflix was already a household name with a fast-growing business, and smart investors could have easily seen its potential.

If you had invested $500 in late 2015 and held on through the ups and downs that followed, your stake would be worth $3,869 today. That's a 674% gain. For reference, the S&P 500 had a total return of 301% over that decade.

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Could Netflix do that again over the next 10 years? It's unlikely. Netflix is no longer the young and comparatively small company it was 10 years ago. However, it has demonstrated time and time again that it can dictate trends and change the media scene, and it should be able to keep growing. It could still be a strong addition to a well-rounded investment portfolio.

Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Netflix and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

If you are seeking multibagger returns over the long term, this group of five growth stocks may offer some potential.

As we approach a new year, it is the perfect time to add some new money to some of the most promising growth stocks on the market. While the broader S&P 500 index remains within a couple of percentage points of its all-time high, the stocks in this article are down between 22% and 55% from their 52-week highs.

Despite their recent declines, these businesses have exhibited strong past price appreciation (over the longer term) and delivered revenue growth between 16% and 48% in the last quarter. Furthermore, each stock is powered by what could be decades-long megatrends, making them five of the best growth stocks to double down on in 2026.

Image source: Getty Images.

1. Rocket Lab USA
Since its initial public offering (IPO) in 2021, end-to-end space company Rocket Lab USA (RKLB +17.57%) has quickly become a five-bagger for investors. Over the same time, though, its sales have risen nearly tenfold, so I don't believe investors have "missed their chance."

Powered by this growth, the founder-led company has become the No. 3 player in the launch services and space systems industry, trailing only SpaceX and Blue Origin. However, with its first medium-launcher Neutron rocket set for blastoff in Q1 next year, Rocket Lab could become a bigger competitor to its larger peers.

Vertically integrated, Rocket Lab is positioned for decades of growth across its business segments: launch, spacecraft, and payloads. Furthermore, the company's operations continue to scale beautifully.

Data by YCharts.

With McKinsey and Company projecting the space industry to grow from $630 billion in 2023 to $1.8 trillion by 2035, Rocket Lab could outgrow its relatively minuscule market cap of $28 billion. Ultimately, the company's growth optionality is unfathomably considerable as mega-cap tech companies and governments experiment with new space concepts.

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As long as Rocket Lab's sales growth and scaling margins persist, I'm happy to continue adding to the company over time -- especially with shares 20% below their high.

2. Kinsale Capital
If space companies don't interest you, let's try the opposite side of the excitement spectrum and look at Kinsale Capital Group (KNSL +0.32%) and its best-in-class excess and surplus insurance operations. Compounding total returns for investors by 39% since its 2016 IPO, Kinsale may be the most efficient insurer on the market.

With a combined ratio of 77%, the company's profitability is superior to its peers, who maintain an average combined ratio of 92%. What makes this industry-leading profitability even more incredible is that Kinsale produced it while delivering revenue growth of 39% annually over the last decade.

Focusing on small, hard-to-assess risks that its mega-peers typically try to avoid, Kinsale has carved out a lucrative niche for itself. That said, Kinsale's revenue growth slowed to 19% in the latest quarter, as pricing competition intensified and management opted to prioritize profitability over sales growth.

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With its stock down 24% on this growth slowdown, it looks like the perfect time to buy this growth stock.

3. MercadoLibre
Since its IPO in 2007, Latin American e-commerce and fintech juggernaut MercadoLibre (MELI +1.63%) has become a 70-bagger. Over the same time, the company's sales grew from $85 million to $26 billion today. Despite this market-trouncing run, MercadoLibre's brightest days may still lie ahead, even though it is already Latin America's largest business.

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While the company has become synonymous with e-commerce in the countries it serves, the online buying penetration rate in Latin America is still only half that of the U.S.Furthermore, Brazil, Mexico, and Argentina account for 96% of MercadoLibre's sales, showing that there are many more chapters left in the company's growth story as it experiments in new countries.

Home to a massive flywheel that supports its logistics network, which in turn facilitates e-commerce transactions, generating payments for its fintech unit, which helps feed its credit business, and so on, MercadoLibre remains my favorite growth stock to buy after its 23% dip from July 2025 highs.

4. SPS Commerce
SPS Commerce (SPSC 1.01%) is a leading supply chain cloud services provider that has delivered 18% annualized returns for investors since 2010. Growing its sales by 26 times in value over that time, the company's solutions have become mandatory for many retailers, third-party logistics providers, and suppliers as the world continues to shift toward omnichannel sales.

SPS's offerings have become so popular that the company has gone 99 consecutive quarters with positive sales growth. However, after seeing its sales growth rate decelerate slightly and guiding for "only" 8% sales growth in 2026, the company's shares have plummeted over 55% over the last year.

Ultimately, I think this drop is a byproduct of the company being previously priced for perfection at over 70 times free cash flow (FCF).

Data by YCharts.

Now available at just 23 times FCF, and planning to buy back shares with at least half of the FCF it generates, this niche-leading market outperformer looks like a steal.

Image source: Dutch Bros.

5. Dutch Bros
Burgeoning handcrafted beverages chain Dutch Bros (BROS 0.21%) has seen its stock price rise by 14% annually since 2021. Home to 1,089 locations across 17 states, Dutch Bros commands a cult-like following and is rapidly expanding throughout the rest of the U.S. Management's stretch goal for the company is to reach 2,029 locations by 2029 -- and they are well on their way after growing store count by 14% in 2025.

However, Dutch Bros isn't just an expansion story. Its same-store sales have grown for 10 straight quarters, and the company now funds expansion plans almost entirely in-house from the cash generated by its operations. This marks a significant turning point for the company, as it previously relied on issuing new shares to grow, thereby diluting shareholder value.

Trading at 40 times cash from operations, Dutch Bros stock isn't cheap. Yet, if it lands anywhere close to its 2,029 stores by 2029 goal, it could be on its way to becoming a multibagger of its own.

Andrew Gibb is a long-term bull when it comes to cryptocurrencies. Not only does he see institutional investing adding long-term muscles to the trade, but Andrew makes the case for Bitcoin's "amazing narrative" making long-lasting impacts.

Investors are becoming more comfortable with Micron stock, despite its large capital expenditures.

Micron (MU +6.99%) reported fantastic quarterly financial results that sent the stock price higher.

*Stock prices used were the afternoon prices of Dec. 17, 2025. The video was published on Dec. 19, 2025.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Macroeconomic headwinds have investors concerned about Costco stock.

Costco (COST 0.21%) stock is experiencing a rare underperformance in 2025.

*Stock prices used were the afternoon prices of Dec. 17, 2025. The video was published on Dec. 19, 2025.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.