Bitcoin miner HIVE Digital Technologies rose after reporting record revenue for its most recent quarter, adding to the sector’s wins from Bitcoin’s mid-year gains.
HIVE said on Monday that it had “record revenue” for the quarter ending Sept. 30 of $87.3 million, up 285% from the same time a year ago and nearly doubling quarter-over-quarter.
The company reported a net loss of $15.8 million for the quarter, which it attributed to “driven by accelerated two-year depreciation” of Bitcoin (BTC) mining machines used in its expansion efforts in Paraguay.
“Despite Bitcoin hashprice being up only about 25% year-over-year, our revenue soared 285% year-over-year due to our aggressive hashrate expansion,” said HIVE executive chairman Frank Holmes.
HIVE is the latest crypto miner to report a revenue increase last quarter, which saw Bitcoin climb from around $107,000 at the start of July to a peak of over $123,500 by mid-August.
Bitcoin then went on to reach a peak high of over $126,000 by early October, but has since fallen 28% to briefly dip under $90,000 early on Tuesday.
HIVE shares climb on revenue
Shares in HIVE Digital (HIVE) ended trading on Monday at a gain of 7.55% and continued rising by 0.56% after hours to $3.58.
Shares in HIVE rose on Monday on the company’s quarterly results. Source: Google Finance
HIVE has gained 25% so far this year, but the stock has dropped from a 2025 peak of $6.96 in early October, falling in tandem with Bitcoin as investors sell out of riskier assets.
The company reported that its Bitcoin mining revenue for the quarter doubled from a year ago to $82.1 million, and it mined 717 BTC despite an “increase in network difficulty.”
Other Bitcoin miners reporting soaring revenues for the Sept. 30 quarter include Bitdeer, which reported on Nov. 10 that its revenues climbed 174% over the year to $169.7 million, while TeraWulf reported the same day that its revenues jumped 87% year-over-year to $50.6 million.
Many Bitcoin miners have also begun to shift their operations toward powering artificial intelligence, and HIVE’s AI-focused computing arm achieved a record quarterly revenue of $5.2 million, representing a 175% increase from the same period last year.
Bitfarms announced on Thursday that it would shut down its cryptocurrency mining business over the next two years and pivot to AI, with its CEO, Ben Gagnon, stating that it was the best option for most US-based miners.
VanEck has launched the US’s third exchange-traded fund (ETF) featuring Solana staking, as more altcoin-tied funds are set to enter the market soon.
The VanEck Solana ETF (VSOL) launched on Monday, joining similar funds from Bitwise and Grayscale that debuted late in October and have jointly seen over $380 million in inflows.
Like Bitwise and Grayscale’s ETFs, VSOL offers staking yields, where Solana (SOL) is locked up on the blockchain to earn rewards. It has also waived its 0.3% fee until Feb. 17 or until it reaches $1 billion in assets in a bid to compete.
Asset managers have been flooding the market with crypto ETFs after the Securities and Exchange Commission changed its listing standards in September, allowing for faster approvals that don’t require an assessment of each fund.
Bloomberg ETF analyst Eric Balchunas said on Monday that the Fidelity Solana ETF (FSOL) is set to launch on Tuesday, competing with three existing similar funds that charge a 0.25% fee.
“Easily the biggest asset manager in this category with BlackRock sitting out,” he added.
Dogecoin ETF could launch as soon as Monday
Balchunas said he expects a Dogecoin (DOGE) ETF from Grayscale to launch on Nov. 24, based on an amended regulatory filing earlier this month kicking off a 20-day period where it can launch if the SEC doesn’t respond.
The Grayscale Dogecoin Trust (DOGE) is a conversion from its existing fund and would trade on the New York Stock Exchange, which must still file to list the ETF.
“We’ll see, won’t be 100% till exchange notice, but based on SEC guidance, it looks good,” Balchunas added.
If Grayscale’s fund launches next week, it’ll be the first Dogecoin ETF in the US that will be able to directly hold the memecoin.
Asset issuers REX Shares and Osprey Funds jointly launched a DOGE ETF in mid-September, registered under the Investment Company Act of 1940, which limits its investment to a wholly owned offshore subsidiary that holds the cryptocurrency.
Bitwise could also see its spot Dogecoin ETF launch late next week, after a change in its regulatory filing for the product on Nov. 6 triggered a 20-day launch timer, unless the SEC intervenes.
ETH falls to a 4-month low despite recent layer-2 growth cutting base fees and boosting Ethereum’s use in tokenization and stablecoin.
ETH may recover as global risks ease and new liquidity enters markets, helping the price move back toward $3,900.
Ether (ETH) crashed below $3,000 on Monday, and the drop reflects a sector-wide risk-off shift where traders are worried that the bull run may have ended after a 40% correction from the $4,956 all-time high in August.
ETH/USD (blue) vs. altcoin market cap (red). Source: TradingView / Cointelegraph
Ether’s performance has closely tracked the altcoin market, signaling a lack of asset-specific catalysts or at least traders’ shift toward broader macroeconomic factors. If Ether faced clear competitive pressure or weakening fundamentals, ETH would likely lag altcoins, which has not happened.
Analysts argue the crypto downturn stems from rising concern over global growth. The US government shutdown and new import tariffs were followed by weak consumer-sector earnings and doubts surrounding the artificial intelligence industry. Data centers now deal with higher costs and energy constraints, even as the business remains highly profitable.
ETH 2-month futures annualized premium. Source: laevitas.ch
Demand for bullish ETH leverage has stayed muted for a month, with the futures premium stuck under the 5% neutral level. Part of this hesitation comes from how market stress affects companies building ETH reserves, including Bitmine Immersion (BMNR US), SharpLink Gaming (SBET US) and The Ether Machine (ETHM US).
Those companies focused on ETH reserves through debt and equity issues now hold unrealized losses as their shares trade below net asset value, which includes crypto holdings. Even if no forced selling is imminent, investor interest in the sector drops, reducing demand for new debt and causing gradual dilution for current holders.
Ether’s weak onchain data has also hurt investors’ bullish appetite. Lower network activity reduces demand for ETH and lifts supply. Ethereum’s burn mechanism only becomes meaningful when demand for base layer data rises, so slower DApp usage is a net negative for ETH staking.
Deposits on the Ethereum network, measured by Total Value Locked (TVL), fell to a four-month low of $74 billion, a 13% drop from 30 days earlier. Activity on Ethereum decentralized exchanges (DEX) reached $17.4 billion in the past seven days, down 27% from the prior month. Ethereum remains the clear leader in deposits, but it faces tougher competition in trading volume.
Blockchains ranked by 30-day DEX volumes, USD. Source: DefiLlama
Critics may argue that BNB Chain and Solana are more centralized, and that Ethereum leads once the layer-2 ecosystem is taken into account. Scaling solutions like Base, Arbitrum and Polygon greatly improved Ethereum’s capacity, but also raised concerns over fees. Because rollups batch and process transactions off the base layer, they sharply reduce demand for base layer fees.
Blockchains ranked by seven-day transactions. Source: Nansen
Still, the shift of activity toward layer-2s is far from a threat. The rise of Ethereum’s scaling ecosystem has strengthened its lead in Real World Asset (RWA) tokenization and in decentralized stablecoin systems such as Sky, formerly known as MakerDAO. Base alone processed nearly 102 million transactions in the past seven days, a figure comparable to networks with many more users and deposits, such as Solana.
Ether’s outlook depends heavily on lower global socio-political uncertainty, especially as the US faces pressure from its expanding government debt. Eventually, central banks will likely need to add liquidity and support their economies, and ETH is well-positioned to benefit from that inflow. Such a shift could be enough for Ether to retest the $3,900 level.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Bitcoin’s fall has resulted in three consecutive weeks of outflows from crypto ETPs, indicating a negative sentiment.
Several altcoins are struggling to start a rebound, indicating a lack of demand from buyers.
Bitcoin (BTC) attempted a recovery to start the week, but the long wick on the candlestick shows selling at higher levels.
Several analysts believe that the market is likely to bottom soon and that the worst is over. Bitwise CEO Hunter Horsley said in a post on X that BTC has been in a bear market for the past six months, which is about to end. He added that the setup for crypto “has never been stronger.”
However, crypto sentiment platform Santiment cautioned in a report that “true bottoms often form when the majority expects prices to fall further” and not when there is a consensus about a “specific price bottom.”
Crypto market data daily view. Source: TradingView
Traders should keep a close eye on crypto investment products, which have witnessed three consecutive weeks of outflows totaling $3.2 billion. Last week alone saw $2 billion in outflows, the largest weekly outflows since February, according to a report from CoinShares. Sustained buying into crypto ETPs will be needed for a meaningful recovery.
Could BTC extend its decline, pulling altcoins lower or is a recovery around the corner? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears.
If the price turns down and breaks below the support line, it signals the start of a deeper correction toward 6,550 and then 6,400. The pattern target of the break from the triangle is 6,276.
Alternatively, if the price continues higher and breaks above the resistance line, it indicates the resumption of the uptrend. The index may rally to 7,000 and then to the target objective of 7,220.
US Dollar Index price prediction
The US Dollar Index (DXY) turned down from the 100.50 overhead resistance level on Nov. 5 but is taking support at the 20-day exponential moving average (99.32).
If the price rebounds off the 20-day EMA with strength, the likelihood of a break above the 100.50 level increases. The index could then climb to the 102 level, where the bears are again expected to mount a strong defense.
Sellers will have to pull the price below the 50-day simple moving average (98.57) to gain the upper hand. If they do that, the index may consolidate between 100.50 and 96.21 for a while longer.
Bitcoin price prediction
BTC is attempting to take support at the $93,000 level, but the lack of a solid rebound indicates that the bears continue to exert pressure.
Any recovery attempt is expected to face selling at the psychological level of $100,000. If the price turns down from $100,000, it suggests that the bears have flipped the level into resistance. That heightens the risk of a drop to $87,800 and subsequently to $83,000.
Time is running out for the bulls. They will have to swiftly drive the Bitcoin price above the 20-day EMA ($102,022) to weaken the bearish momentum. The BTC/USDT pair may then climb to the 50-day SMA ($109,927).
Ether price prediction
Ether (ETH) has been trading below the breakdown level of $3,350, but the bears have failed to sink the price below $3,000.
The ETH/USDT pair could rise to the 20-day EMA ($3,444), where the bears are expected to sell aggressively. If the price turns down sharply from the 20-day EMA, the pair risks a break below $3,000. If that happens, the Ether price may plunge to $2,500.
Contrarily, if buyers kick the price above the 20-day EMA, the pair could rally to the 50-day SMA ($3,871). A close above the 50-day SMA suggests that the corrective phase may be ending.
XRP price prediction
XRP (XRP) has been falling inside a descending channel pattern, indicating that the bears continue to sell on rallies.
There is minor support at $2.15, but if the level cracks, the XRP/USDT pair could plummet to the support line of the channel. Buyers are expected to aggressively defend the support line, as a break below it may sink the pair to $1.61.
On the upside, a break and close above the 50-day SMA ($2.52) suggests that the bulls are attempting a comeback. A short-term trend change will be signaled after buyers achieve a close above the downtrend line.
BNB price prediction
BNB (BNB) is attempting to stay above the $860 level, but the recovery is expected to face selling at the 20-day EMA ($983).
If the price turns down sharply from the 20-day EMA, the bears will again try to sink the BNB/USDT pair below the $860 level. If they manage to do that, the BNB price could collapse to $730.
Contrary to this assumption, if the price turns up and breaks above the 20-day EMA, it suggests that the selling pressure is reducing. The pair may then rise to the 50-day SMA ($1,082).
Solana price prediction
Solana (SOL) has been gradually sliding toward the solid support at $126, indicating that the bears remain in control.
Any recovery attempt is expected to face selling at the 20-day EMA ($159). If the price turns down sharply from the 20-day EMA, the risk of a break below $126 increases. The Solana price could then dive to $95.
Instead, if the price breaks above the 20-day EMA, it signals solid demand at lower levels. The SOL/USDT pair could then rise to the 50-day SMA ($186), where the bears are expected to step in.
If the price turns down from the 20-day EMA ($0.17), the likelihood of a drop to $0.14 increases. Buyers are expected to defend the $0.14 level with all their might, as a break below it could sink the Dogecoin price to $0.10.
On the contrary, a break and close above the 20-day EMA suggests that selling dries up near $0.14. The DOGE/USDT pair may then rally to the 50-day SMA ($0.19). Such a move indicates that the pair could extend its stay inside the $0.14 to $0.29 range for some more time.
Cardano price prediction
Cardano (ADA) dipped below the $0.50 support on Friday, indicating that the bears remain in charge.
The bulls are attempting to push the Cardano price back above the breakdown level of $0.50. If they succeed, the ADA/USDT pair could ascend to the 20-day EMA ($0.55). Sellers will try to halt the recovery at the 20-day EMA. If that happens, the bears will try to extend the decline to $0.40.
A minor positive for the bulls is that the RSI is attempting to form a positive divergence. That suggests the selling pressure is reducing. If buyers clear the hurdle at the 20-day EMA, the pair could rally to the 50-day SMA ($0.65).
Hyperliquid price prediction
Hyperliquid (HYPE) has been trading between the 50-day SMA ($41.78) and the $35.50 support for the past several days.
This tight-range trading is expected to culminate in a range expansion, but it is difficult to predict the direction of the breakout. If the price pierces the 50-day SMA, the HYPE/USDT pair could surge to $52.
Conversely, if the price drops below $35.50, it signals that the bears have overpowered the buyers. That could accelerate selling and sink the Hyperliquid price to $30.50 and subsequently to $28.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The company behind the largest Bitcoin treasury announced it had returned to buying large amounts of the cryptocurrency following a $835 million purchase.
In a Monday filing with the US Securities and Exchange Commission, Michael Saylor’s Strategy reported acquiring 8,178 Bitcoin (BTC) for about $835 million. The purchase represented a significant increase compared to the company’s BTC investments in October and earlier in November, which it reported to be about 400-500 coins per week.
The acquisition came amid significant volatility in the price of Bitcoin. According to data from Nansen, BTC price fell by about 11% in the previous seven days, reaching $94,191 at time of publication.
Strategy remains the company with the most extensive Bitcoin treasury at 649,870 BTC, following its initial strategy of consistently buying the cryptocurrency, which began in August 2020. BitMine Immersion Technologies holds the most Ether (ETH), and Forward Industries has the biggest position on Solana (SOL).
Despite the Bitcoin price flash crash last week, Saylor, Strategy’s executive chair, said in an interview and on social media that the company continued to acquire the cryptocurrency. The share price of the company’s MSTR stock on Nasdaq has also declined, falling more than 16% in the previous five days to $197.03 at the time of publication.
Strategy chair to debate gold bug?
Over the weekend, gold investor and outspoken Bitcoin critic Peter Schiff challenged Saylor to a debate on stage at Binance Blockchain Week in Dubai in December. Schiff said Strategy’s “entire business model [was] a fraud.”
At the time of publication, Saylor did not appear to have publicly responded to the challenge.
European Union efforts to mandate scanning of private messages have been blocked again, marking another setback for the bloc’s proposed Chat Control legislation, and another win for digital rights activists.
German digital rights activist and Pirate Party Germany politician Patrick Breyer wrote in a Nov. 15 X post that a backdoor, which he said mandated client-side scanning of messages, had been removed from the latest draft of the “Regulation to Prevent and Combat Child Sexual Abuse” proposal, more commonly known as Chat Control. According to him, the addition of the following line under the Danish Presidency of the Council of the EU — which also saw the introduction of the backdoor clause — resolved the issue:
“Nothing in this Regulation should be understood as imposing any detection obligations on providers.”
The draft used vague language referring to “all possible risk mitigation measures,” which, according to critics, would allow authorities to force service providers to implement chat scanning, especially since chat-scanning infrastructure is already in place for voluntary implementation.
In a Nov. 11 post, Breyer described the move as “political deception of the highest order,” noting that Chat Control is “coming back through the back door — disguised, more dangerous, and more comprehensive.” “The public is being played for fools,“ he said. Denmark introduced the backdoor amid an apparent step down in monitoring requirements in the bill.
This is the latest attempt by the EU Council to introduce mandatory chat scanning, including checking encrypted messages before they are sent from user devices. The previous attempt failed after Germany’s decision to reject the draft halted its progress.
Mandatory scanning removed, but key concerns remain
Breyer wrote in his X post that only mandatory chat control was removed from the proposal, which still contains anonymity-breaking age checks for communication services and voluntary mass scanning. He added that “the fight continues next year!”
The legislative process is still ongoing, and the current version of the bill is not set in stone. On Nov. 19, the Committee of the Permanent Representatives of the Governments of the Member States to the European Union (COREPER II) is expected to endorse it without debate, listing it as a “non-discussion” item. Once this body signs off, the text goes to a formal Council of Ministers meeting, where it may be adopted without discussion unless a minister specifically requests to pull it.
So far, some unencrypted communication services such as Gmail, Facebook, Instagram, Skype, Snapchat, iCloud email and Xbox have implemented chat scanning. With mandatory scanning, the European Commission — EU’s primary executive branch — expects a 3.5-fold increase in the number of reports generated by the system.
Breyer said that on Nov. 13, a clarification ensured that “chat control should not be mandatory, not even through the back door.” Still, he pointed to other issues in the current draft, including voluntary chat control that allows mass scanning of messages without a court order and new age-verification requirements that “would make anonymous e-mail and messenger accounts factually impossible and exclude teens under 17 from many apps.”
The rights to privacy and encryption have long been fought over. Bitcoin (BTC) itself stems from the pro-cryptography movement known as cypherpunks. The 80s movement was composed of a broad group of people advocating the widespread use of privacy-enhancing technologies, including many early Bitcoin developers and community members.
The Bitcoin white paper cited a previous paper by British cryptographer and cypherpunk Adam Back as an inspiration, laying the foundations that Satoshi Nakamoto built on. The movement was heavily involved in protesting against US laws restricting the export of cryptographic technologies.
The campaign saw cypherpunks distribute T-shirts featuring cryptography-related information to highlight the absurdity of the laws, with Back being personally involved. The shirt warned that it “is classified as a munition and may not be exported from the United States, or shown to a foreign national.”
US spot Bitcoin exchange-traded funds (ETFs) closed a third straight week in the red, deepening concerns that one of Bitcoin’s biggest institutional demand engines is stalling.
Spot Bitcoin (BTC) ETFs saw $1.1 billion in net negative outflows during the past trading week, marking their fourth-largest week of outflows on record, according to Farside Investors data.
The ETF outflows occurred during a significant correction, as Bitcoin’s price fell by over 9.9% during the past week, to trade at $95,740 at the time of writing, Cointelegraph data shows.
Bitcoin ETF flows (in USD, million). Source: Farside Investors
The recent correction marked the first pattern of an emerging “mini” bear market, according to crypto insights platform Matrixport.
“Our data showed a market losing momentum and lacking the catalysts needed for a sustained rally,” wrote Matrixport in a Friday X post, adding:
“With ETF flows weakening, OG investors reducing exposure, and macro conditions offering no immediate catalyst, the path forward remains highly dependent on upcoming policy decisions from the Federal Reserve.”
The crypto market remains in a “pivotal juncture,” as key price levels and macro triggers will determine the next significant move, according to Matrixport.
The lawyer for Binance co-founder Changpeng “CZ” Zhao has denied that he somehow paid for a pardon from US President Donald Trump.
Appearing on Anthony Pompliano’s “Pomp Podcast” on Friday, CZ’s personal attorney Teresa Goody Guillén described the criticism around CZ’s pardoning as a “pile up of a lot of false statements.”
“The media continues to refer to World Liberty as Trump’s company, and I haven’t seen anything to show me that that’s true,” she said, adding:
“People are making these assumptions that just show a fundamental misunderstanding of how either business works or how blockchain works.”
CZ spent four months in prison in 2024 and had to step back from Binance over charges relating to a failure to establish Anti-Money Laundering protocols at the firm.
Critics of the move, including Democratic Senator Elizabeth Warren, labelled the pardoning as “corruption” as CZ “boosted” one of Trump’s crypto ventures and “lobbied for a pardon.”
Responding to Warren’s claims, Guillén questioned the immunity granted to US politicians, as she criticized Warren for incorrectly asserting that CZ had been convicted of a crime “he wasn’t convicted of,” alongside allegations of additional “criminal liability” against him for the pardon.
“This is actually an area where I’m hoping that we pay a little bit more attention because you know, the immunity that’s given to these folks is not what our founding fathers had wanted,” she said.
Pardon was “justice,” CZ’s lawyer argues
During the appearance on Pompliano’s podcast, Guillén argued that CZ was “pardoned for justice,” as she argued that CZ became a scapegoat for the war on crypto, while pointing to a lack of jail time in traditional finance for executives who were involved in similar legal issues.
“He’s the only person who has ever been prosecuted and then worse, sent to prison for you know this specific charge or anything similar with the characteristics of like no fraud and no victims, no criminal history or anything like that,” she said, adding:
“I think it was part of the war on crypto, and at that point, this was close after the FTX collapse and I think that the war in crypto had to go against somebody, and they had to prosecute somebody and really persecute someone. And unfortunately, that ended up being Binance and CZ.”
A five-year Cardano holder accidentally torched more than $6 million in ADA after using an illiquid trading pool to facilitate a stablecoin swap.
The trade, first noted by blockchain sleuth ZachXBT on Sunday, saw 14.4 million Cardano (ADA) tokens worth $6.9 million swapped for 847,695 of the US dollar Anzens (USDA) stablecoin, resulting in a loss of approximately $6.05 million.
The Cardano user — with wallet address “addr…4×534” — appeared to make a test transaction of 4,437 ADA for a US dollar stablecoin with the ticker USD at 4:06 pm UTC on Sunday, just 33 seconds before the multimillion-dollar swap to USDA.
Before that, the Cardano wallet address had been dormant since Sept. 13, 2020.
Avoid larger transfers in small liquidity pools at all costs
The bizarre trade highlights the importance of swapping in liquid crypto pools — particularly large orders that can significantly impact prices — to prevent unfavorable execution rates.
The transaction appeared to have contributed to ANZA soaring to nearly $1.26 before falling back to $1.04 at the time of writing, CoinGecko data shows.
Did the trader fat-finger USDA?
It’s unknown if the Cardano user had intended to buy the little-known stablecoin, which has a market cap of just $10.6 million.
Blockchain data indicates that the crypto trader had never previously held the USDA stablecoin before that transaction.
Last month, stablecoin issuer Paxos accidentally minted 300 trillion of the PayPal USD (PYUSD) stablecoin before burning the entire amount about 22 minutes later.
Bitcoin briefly lost all of its gains this year after the crypto markets bled over the weekend, despite the US government reopening on Thursday, which was expected to provide much-needed relief to the markets.
Bitcoin (BTC) fell to a low of $93,029 on Sunday, down 25% from its all-time high in October. It started the year at $93,507.
It has since rebounded to around $94,209, CoinGecko data shows.
Bitcoin’s price information, including the change in price since Jan. 1, 2025. Source: CoinGecko
This year was tipped to be a strong one for the crypto markets after US President Donald Trump was inaugurated on Jan. 20 and formed the most pro-crypto administration to date, which has followed through on most of his promises.
However, Trump’s war on tariffs and the US government shutdown — the latter of which ended on Thursday after a record 43 days — have contributed to multiple double-digit Bitcoin price pullbacks throughout the year.
Bitcoin whales have also slowed price rallies
Another key catalyst seen behind Bitcoin’s price slump has been OG Bitcoiners and whales selling off portions of their holdings, compressing upside even in light of positive industry developments.
However, Glassnode analysts last week said the “OG Whales Dumping” Bitcoin narrative isn’t as strong as it is made out to be, explaining that it is “normal bull-market behaviour,” particularly during the late stages of bull runs.
“This steady rise reflects increasing distribution pressure from older investor cohorts — a pattern typical of late-cycle profit-taking, not a sudden exodus of whales.”
Bitcoin isn’t alone — Ether (ETH) and Solana (SOL) are down 7.95% and 28.3% respectively from the start of 2025, while most altcoins have been hit even harder.
Four-year cycle thesis still not in effect, analyst says
Industry analysts are also speculating whether the four-year cycle thesis remains in effect, despite the crypto markets having far more institutional and regulatory backing compared to earlier market cycles.
Bitwise chief investment officer Matt Hougan is one of a few analysts who believe Bitcoin will boom in 2026 due to the “debasement trade” thesis playing out, while the broader markets will benefit from increased adoption in stablecoin, tokenization and decentralized finance.
“I think the underlying fundamentals are just so sound,” Hougan said last Wednesday.
“I just think those are too big to keep down. So I think 2026 will be a good year.”
