Blockonomi

TLDR:

ETH-accumulating whales increased their balance as the realized price dropped, confirming active buying at lower levels. 

The realized cap for accumulating whale addresses rose, ruling out any selling activity within this cohort. 

ETH is currently trading at $1,949, with a 1.80% price gain recorded over the past seven-day period. 

Trader Daan Crypto warns that a drop below $1,900 could push ETH toward its February lows fairly quickly. 

ETH continues to draw attention from large investors even as its price shows signs of pressure. On-chain data reveals that accumulating whale addresses are not selling their holdings.

Instead, these whales are buying at lower price levels. The realized price metric for this cohort has bent downward, which may seem alarming at first glance.

However, a closer look at balance and realized cap data tells a more complete story about what these large holders are actually doing.

What the Realized Price Drop Really Means for ETH

The realized price of accumulating whale addresses has turned downward for the first time. This kind of movement can point to two separate scenarios in the market.

Either a whale with a higher cost basis sold their ETH, pulling the average down. Or new buying occurred at lower prices, which also pulls the realized price downward.

To determine which case applies, analysts cross-referenced balance data and realized cap figures. In the same period where the realized price dropped, the balance of accumulating whales went up. At the same time, their realized cap also rose, not fell.

What Are Accumulating Whales Doing Right Now: Buying or Selling?

“There is no selling behavior in the Accumulating Whales. On the contrary, there is buying at lower prices, and this is why Realized Price bends downward.” – By @cryptometugce pic.twitter.com/LuuFB41dcV

— CryptoQuant.com (@cryptoquant_com) February 19, 2026

These two data points together confirm that no selling took place among this cohort. On the contrary, whales added more ETH to their holdings at reduced price levels. This buying behavior is what caused the realized price to bend downward, not distribution.

CryptoMe, a well-followed Cryptoquant on-chain analytics analyst, stated that accumulating whales’ trust in ETH still looks strong based on this data set.

Price Levels and What Traders Are Watching Closely

Even with whale accumulation continuing, the broader price action remains uncertain. ETH is currently trading at $1,949.06, with a 24-hour volume of over $18.8 billion. The asset posted a 0.23% gain in the past 24 hours and a 1.80% rise over the past seven days.

Crypto trader Daan Crypto Trades pointed out that liquidity levels are clear in this range. According to Daan, a move above $2,150 would mark a new local high and likely push prices further up. However, a drop to $1,900 or below opens the door to revisiting February lows.

$ETH Liquidity levels are pretty clear in this range.

$2150+ is when you make a new local high which should catapult price higher.

$1900 and below is the danger zone for ETH where you'll start trading towards the February lows pretty quickly again. pic.twitter.com/9Q6MLYjAZg

— Daan Crypto Trades (@DaanCrypto) February 19, 2026

That caution is worth noting, especially since the accumulating whale data only covers one segment of the market. Other investor groups and broader macro conditions can still move the ETH price independently.

The on-chain data does not account for retail behavior, derivatives activity, or sentiment shifts.

Therefore, while whale accumulation is a constructive sign, it does not guarantee price direction in the short or medium term.

Traders and investors are advised to monitor multiple data sources before concluding where ETH heads next.

 

The post ETH Whales Are Quietly Buying the Dip: On-Chain Data Reveals What’s Really Happening appeared first on Blockonomi.

TLDR:

83% of altcoins on Binance are trading below the 50-week moving average, signaling a broad bear trend.

Bitcoin has dropped to roughly 46% of its $126,000 all-time high recorded back in October 2025.

On February 7, a new record was set with over 92% of Binance altcoins falling below a key technical level.

Rising altcoin token supply combined with constrained liquidity continues to suppress price recovery across markets.

Altcoins are facing mounting pressure as a liquidity crunch pushes 83% of them into a bear trend. Data from Binance shows most assets, excluding Bitcoin and stablecoins, are now trading below their 50-week moving average.

Investors still holding these positions are under considerable stress. Bitcoin has been in a downtrend since October 2025, following an all-time high of $126,000. Its price currently sits at roughly 46% of that record peak.

BTC Downtrend Weighs Heavily on Altcoin Performance

Bitcoin’s decline from its all-time high has created a difficult environment for altcoins. The broader market continues to follow BTC’s direction, which has remained uncertain in recent months.

At its current level, Bitcoin trades at approximately 46% below its record high. This has left many altcoin investors with little room to recover losses.

Macro factors are adding to the pressure felt across crypto markets. Rising geopolitical tensions between the U.S. and Iran have increased uncertainty among investors.

Meanwhile, the Federal Reserve has maintained a hawkish tone in its latest FOMC minutes. These conditions make highly volatile assets like altcoins especially difficult to hold.

According to analyst Darkfost_Coc, 83% of altcoins on Binance are now below the 50-week moving average. This level is widely considered a key threshold for identifying long-term trends.

LIQUIDITY CRUNCH PUSHES 83% OF ALTCOINS INTO BEAR TREND !

Altcoin performance analysis shows that most investors exposed to these assets today (excluding Bitcoin and stablecoins) are now in significant difficulty, particularly those still holding positions.

The market… pic.twitter.com/7PZQG8U2KG

— Darkfost (@Darkfost_Coc) February 19, 2026

Falling below it generally signals a corrective phase for an asset. The current reading shows how broadly the bear trend has spread.

A new record was set on February 7, when over 92% of Binance altcoins traded below this level. That marked the worst reading since the bear market ended in 2023.

It stands in stark contrast to March 2024, when only 6% of altcoins sat below this threshold. December 2024 posted a similarly low reading of just 7%.

Supply Surge and Constrained Liquidity Drive Market Imbalance

The altcoin market has also been shaped by a steady rise in token supply. More projects launching means more assets competing for the same pool of capital.

When liquidity is constrained, new supply puts further downward pressure on prices. This dynamic has made it harder for most altcoins to sustain any upward momentum.

Outside of brief recovery windows, at least 50% of altcoins have remained below the 50-week moving average. This pattern differs notably from the behavior observed in the previous market cycle.

The current cycle appears structurally different, with liquidity playing a much larger role. That shift has caught many investors off guard.

Darkfost_Coc noted that outperforming in this environment requires a clear understanding of how market dynamics have evolved.

Careful asset selection and a structured investment plan are also considered essential by analysts. Without both, navigating the current conditions becomes increasingly difficult. The market rewards preparation over speculation in periods like this.

The combination of macro headwinds, rising supply, and BTC uncertainty continues to define conditions for altcoins. Investors still holding positions face an extended and challenging road ahead.

The post 83% of Altcoins Enter Bear Trend as Liquidity Crunch Tightens Grip on Crypto Market appeared first on Blockonomi.

TLDR:

Crypto built for AI agents treats rigid code as infrastructure instead of a flaw in financial design.

Legal contracts favor human judgment, while smart contracts favor machine verification and execution.

AI wallets bypass legacy systems that only recognize humans and registered institutions.

Self-driving wallets could replace manual interaction with automated on-chain decision systems.

Crypto has long struggled with usability, security risks, and trust gaps for everyday users. 

A new framework suggests those flaws reflect a deeper design choice rather than engineering failure. The argument centers on crypto built for AI agents, not for human decision-making. This shift reframes why smart contracts rely on rigid logic instead of legal judgment.

Crypto Built for AI Agents Challenges Human-Centered Finance

The idea gained traction after a commentary shared by Milk Road and attributed to Haseeb Qureshi, managing partner at Dragonfly. He highlighted that even crypto-native firms still rely on traditional legal contracts when making investments.

Despite having engineers capable of auditing smart contracts, Dragonfly continues to use courts and lawyers for enforcement.

Legal systems allow judges to apply context and reason when disputes arise. Code executes instructions without interpretation.

For 10 years, we've all been asking why crypto feels so broken.

Turns out we were asking entirely the wrong question.

Here's a reframe from Haseeb Qureshi that could change how you think about the future of this entire industry…

The idea is almost uncomfortable to admit:… https://t.co/yC9hwK0aJ2 pic.twitter.com/iazwKnGflm

— Milk Road (@MilkRoad) February 19, 2026

Humans instinctively trust law because it reflects centuries of social and institutional design. Banking infrastructure assumes mistakes, reversals, and mediation will occur. Smart contracts offer none of those safety valves.

For machines, those same traits become advantages. 

An AI agent can verify addresses, audit logic, and simulate outcomes in seconds. Deterministic code removes uncertainty that legal frameworks introduce through jurisdiction and precedent.

Crypto Built for AI Agents Aligns With Machine-Only Transactions

The traditional financial system only recognizes humans, companies, and governments as valid participants. It has no category for autonomous software actors. That creates unresolved questions around liability, compliance, and sanctions when AI systems transact.

Crypto avoids those constraints by treating every participant as a wallet controlled by code. 

An AI agent can hold funds and execute agreements without legal identity. This structure allows machine-to-machine commerce to operate without regulatory classification barriers.

Supporters of the thesis argue that features humans dislike are optimal for automation. 

Long addresses, gas fees, and permissionless access form a strict specification layer. AI systems interpret these rules as predictable infrastructure rather than friction.

This logic underpins the concept of a “self-driving wallet.” Instead of users clicking through decentralized apps, they would issue goals to an agent. The agent would evaluate protocols and construct transactions automatically.

Machine-to-machine transactions already occur in limited forms across on-chain trading bots and automated liquidity strategies. The framework suggests those activities will expand into broader economic coordination. Humans would remain supervisors rather than operators.

The argument does not claim crypto failed its original mission. It proposes that crypto found its natural counterpart in autonomous software. Earlier technologies followed similar paths once complementary tools emerged.

Milk Road framed the thesis as a rethinking of long-standing crypto criticism. 

Problems such as complexity and rigidity may reflect optimization for non-human users. In that view, crypto’s future lies in becoming financial infrastructure for artificial agents rather than consumer interfaces.

The post Expert: Crypto Was Built for Machines, Not Humans, and AI Is Proof appeared first on Blockonomi.

TLDR:

Anchorage Digital Stablecoin Solutions enables international banks to settle USD transfers using regulated stablecoin infrastructure.

Federal oversight through the OCC places stablecoin custody and issuance under a single national banking framework.

The platform replaces correspondent banking with programmable balances that reduce settlement time and trapped liquidity.

Support for multiple USD stablecoins creates a unified rail for minting, custody, and cross-border dollar movement.

Anchorage Digital has launched a new banking platform designed to move U.S. dollars across borders using stablecoin infrastructure. The product targets licensed international banks seeking regulated access to blockchain-based settlement. 

The rollout aligns with recent U.S. legislative efforts to formalize stablecoin oversight. The initiative positions stablecoins as an institutional payment rail rather than a retail crypto product.

Anchorage Digital Stablecoin Solutions targets regulated global settlement

The new service allows foreign banks to onboard directly with Anchorage Digital and access both fiat and stablecoin wallets. Institutions can conduct outbound and inbound U.S. dollar transfers using supported blockchain networks.

According to statements shared at ETHDenver and on social media, the platform consolidates minting, redemption, custody, and treasury management into a single system.

This replaces correspondent banking flows that often rely on pre-funded nostro and vostro accounts.

By shifting settlement to programmable stablecoin balances, banks can reduce idle capital and shorten transfer timelines. Settlement windows compress from several days to minutes while maintaining regulated custody standards.

Company co-founder Kevin Wysocki described the product as consistent with federal goals under the GENIUS Act. His comments framed stablecoins as an extension of dollar dominance through compliant digital infrastructure.

I'm proud of @Anchorage Digital! Our newly launched "Stablecoin Solutions" is exactly what Congress and the White House envisioned when it passed the #GENIUS Act to achieve the next era of U.S.-dollar dominance! In the form of a stablecoin, the dollar can move around the world… https://t.co/xbqMyOB5Js

— Kevin Wysocki (@KevWysocki) February 19, 2026

Federal oversight anchors stablecoin issuance and custody model

Anchorage Digital operates as a federally chartered trust bank supervised by the Office of the Comptroller of the Currency. This structure removes the need for state-by-state licensing and places client assets under a single regulatory framework.

Funds remain segregated and bankruptcy remote, according to product documentation released with the launch. Digital assets are stored in vaults using institutional policy controls designed for compliance and risk management.

The platform supports multiple dollar-backed stablecoins across major chains. These include USA₮ from Tether, USDtb from Ethena Labs, USDGO from OSL, and future issuances such as Western Union’s USDPT.

Anchorage Digital stated that it will provide primary mint and redeem access for federally issued stablecoins once the GENIUS Act reaches final implementation. The system remains stablecoin-agnostic, allowing banks to custody and transfer other approved tokens through the same interface.

Nathan McCauley, the company’s chief executive, said the service aims to modernize settlement while preserving compliance controls. He emphasized that blockchain rails can operate behind the scenes without altering bank-facing workflows.

The launch follows growing onchain settlement volumes tied to dollar-pegged tokens. Industry data shows stablecoins now process trillions of dollars annually, driven by demand for faster and cheaper cross-border transfers.

By combining regulated issuance, qualified custody, and blockchain-native settlement, the product connects banks into a shared network of compliant counterparties. This approach positions stablecoins as financial infrastructure rather than speculative assets.

The post Anchorage Digital Builds Federal Rails for Stablecoin Payments appeared first on Blockonomi.

TLDR:

Payward’s acquisition of Magna links token vesting and claims infrastructure directly into Kraken’s expanding product ecosystem.

Magna will continue operating independently while its tools integrate with Kraken’s broader token issuance and distribution roadmap.

The deal extends Kraken’s reach from trading into fundraising and long-term token lifecycle management services.

Magna’s platform already supports over 160 projects with peak total value locked of $60 billion in 2025.

Payward has acquired Magna in a move that extends Kraken’s services beyond trading into token lifecycle management. The deal brings vesting, claims, and distribution tools into Kraken’s broader financial infrastructure stack. 

Company leaders described the transaction as part of a push toward verticalized crypto services. Terms of the acquisition were not disclosed.

Payward Acquires Magna to Build End-to-End Token Infrastructure

The announcement came through a company blog post and was later echoed in a social update from Dave Ripley. The post confirmed that Magna will continue operating as a standalone platform while integrations progress.

Magna provides tooling for onchain and offchain vesting, token claims, custody workflows, and specialized staking features. These services support teams running complex token distributions and treasury operations.

According to Payward, the acquisition supports its expansion from trading infrastructure into fundraising, issuance, and long-term network management.

The company said Magna already serves teams managing billions of dollars in active token ecosystems.

Arjun Sethi framed the deal as an effort to avoid concentration around distribution and access. He said open, chain-aware infrastructure connects fundraising, liquidity, and distribution into one operating layer.

Payward has acquired Magna, bringing its leading token lifecycle infrastructure into @KrakenFX’s services.

Magna is already core infra for teams running high-stakes token ops: onchain + offchain vesting, white-label claims, custody/escrow workflows, specialized staking…

— Dave Ripley (@DavidLRipley) February 19, 2026

Kraken Expands Beyond Trading With Magna Integration

Kraken’s on-chain leadership linked the move to a broader strategy around issuer services. Calvin Leyon said the exchange aims to extend trusted infrastructure across the full token lifecycle.

Magna will initially focus on onboarding and security hardening while preserving its existing integrations. Payward said later phases will align the platform with token issuance and global distribution workflows.

Magna’s client base includes more than 160 projects, with peak total value locked reaching $60 billion in 2025. The company has positioned itself as a core operational layer for token generation events and ongoing community management.

Bruno Faviero stated that joining Kraken provides resources for deeper liquidity and global reach. He added that Magna will continue supporting teams across multiple chains and custody setups.

Payward confirmed that Magna customers can keep using current products without disruption. Product updates will roll out gradually as foundational integrations advance.

The acquisition strengthens Kraken’s role beyond exchange services into infrastructure for builders and issuers. It also signals growing demand for standardized tools that manage vesting, distribution, and compliance at s

The post Payward Acquires Magna to Expand Kraken Token Lifecycle Infrastructure appeared first on Blockonomi.

TLDR:

FOCIL and EIP-8141 allow smart wallet and privacy transactions to reach blocks without wrappers or intermediaries.

Randomized includers reduce proposer dominance and increase censorship resistance for all Ethereum transactions.

Rapid inclusion within one or two slots becomes likely even under hostile network behavior.

Future FOCIL expansion could support most block transactions while preserving MEV auction mechanics.

Ethereum is moving closer to censorship-resistant transaction inclusion after new technical links emerged between FOCIL and EIP-8141. 

The update focuses on ensuring that all transaction types reach the blockchain quickly, even under hostile network conditions. It also expands how smart accounts and privacy protocols interact with block production. 

The development highlights Ethereum’s push to reduce proposer power while keeping network incentives intact.

How FOCIL and EIP-8141 Enable Direct Transaction Inclusion

According to a post shared by CEO Vitalik Buterin, FOCIL works alongside EIP-8141 to make smart accounts and privacy tools first-class transaction senders.

EIP-8141 builds on account abstraction by allowing smart wallets to submit transactions directly onchain without wrappers or intermediaries. These accounts can support multisignature controls, quantum-resistant keys, and gas sponsorship.

FOCIL then ensures that these transactions gain rapid inclusion through randomly selected includers each slot. In every block, up to 17 actors can include transactions, instead of relying on a single proposer.

Vitalik noted that this structure creates a path for almost guaranteed inclusion within one or two slots. It also allows privacy protocol transactions to enter blocks through the public mempool without relying on broadcasters or relayers.

There is also an important synergy between FOCIL and AA (EIP-8141, which is based on 7701):

8141 makes not just smart accounts (including multisig, quantum-resistant signatures, key changes, gas sponsorship) first-class citizens, it also can do the same for privacy protocols… https://t.co/wLCEuq66eI

— vitalik.eth (@VitalikButerin) February 19, 2026

Why FOCIL and EIP-8141 Weaken Proposer Control

FOCIL currently limits each inclusion list to about 8 kilobytes, keeping the design lightweight in its first phase. However, the roadmap allows these lists to grow and potentially carry most transactions in future blocks.

The approach mirrors some features of multiple concurrent proposer models without removing proposer-builder separation. Instead, it preserves the MEV auction for the final ordering role through ePBS.

Even if all proposer slots were captured by a hostile entity, transactions would still reach blocks through FOCIL includers. This reduces the ability of any single actor to block or discriminate against certain applications.

The design shifts power away from centralized block producers while keeping economic incentives stable. It also protects smart wallet operations and privacy protocol activity from selective exclusion.

Developers say the combination strengthens the base layer against censorship without forcing changes to existing transaction flows. Transactions from smart accounts can move through the public mempool and directly reach includers.

With these changes, ETH positions itself to support a wider range of transaction types under adversarial conditions. The update reinforces ongoing work on account abstraction and block inclusion guarantees.

The post Vitalik: New Ethereum Design Targets Censorship With FOCIL and EIP-8141 appeared first on Blockonomi.

TLDR:

ZRO becomes the only gas, staking, and fee asset across Zero, LayerZero, and Stargate infrastructure layers.

Protocol revenue from priority fees, MEV tips, markets, and payments will all route directly into ZRO.

Institutional buyouts removed 19.77 percent of total ZRO supply from future unlock circulation schedules.

Public dashboards currently overstate ZRO unlock pressure by nearly twofold due to outdated supply data.

LayerZero has clarified how its ZRO token will function inside the upcoming Zero network after days of market speculation. 

The update outlines a single-asset economic design that ties protocol activity directly to ZRO. It also revises assumptions about future supply pressure from token unlocks. The disclosure arrives ahead of Zero’s planned mainnet launch later this year.

ZRO Tokenomics Anchors Zero Network Fee Structure

Bryan Pellegrino published the clarification in a post on X, addressing questions around Zero’s economic design. He stated that the project will not issue a new token for the network. ZRO will serve as the only asset across all Zero functions.

In the week since we announced Zero, there has been a lot of speculation about ZRO’s role in Zero and on ZRO’s tokenomics. Let’s clear that up.

There will be no new token for Zero. ZRO is the only asset.

• ZRO will be the staking asset within Zero

• ZRO will be the…

— Bryan Pellegrino (臭企鹅) (@PrimordialAA) February 19, 2026

ZRO will act as both the staking and gas token inside Zero. Every transaction and message will rely on the same asset for settlement. This approach removes the need for parallel fee tokens across zones.

According to the statement, all excess fees generated from priority fees linked to state contention will route to ZRO. Tips and MEV-related revenue will also accrue to the token. The design connects congestion and execution demand directly to token value flows.

Trading fees from the markets zone and payment fees from the payments zone will follow the same model. 

Once LayerZero activates its fee switch, every protocol message will include a ZRO-denominated charge. This makes ZRO the financial endpoint for Zero, LayerZero, and Stargate activity.

Institutional Buybacks Cut ZRO Unlock Pressure in Half

Pellegrino also disclosed updated figures on institutional participation and internal buybacks. 

He said institutional purchases and early investor buyouts now represent 19.77 percent of the total ZRO supply. Most of this came from absorbing future unlock allocations.

The update challenges assumptions shown on public token dashboards. Pellegrino noted that many trackers still treat those tokens as pending unlocks. That misclassification, he said, nearly doubles the projected supply pressure.

Community members amplified the data point after the post circulated. X user Zuuu highlighted the reduction in effective unlock risk as a key takeaway. The comment gained traction as traders reassessed ZRO’s circulating supply outlook.

LayerZero confirmed that the buyouts focused mainly on early investors and upcoming vesting schedules. The move shifts a portion of expected emissions into long-term holdings. It also reshapes how market participants model future dilution.

Zero aims to launch with permissionless infrastructure for payments, markets, and messaging. By assigning all economic flows to ZRO, the protocol links network usage with a single asset. The team said mainnet remains scheduled for this fall.

The post LayerZero CEO Clarifies ZRO Will Capture All Zero Network Fees appeared first on Blockonomi.

TLDR:

Metaplanet reports shareholder growth into the hundreds of thousands as its Bitcoin treasury strategy gains global reach.

The company increased Bitcoin per share by over 500 percent in 2025 through accumulation and derivatives-based income.

Management confirmed it will never sell Bitcoin and will rely on volatility-driven strategies to grow reserves.

Executives acknowledged drawdowns but maintained that long-term fundamentals guide every treasury decision.

Metaplanet’s shareholder base has expanded to hundreds of thousands as the company doubles down on its Bitcoin-focused treasury strategy. The firm acknowledged market volatility while confirming that its accumulation plan remains unchanged. 

Management pointed to rising global adoption and Bitcoin’s fixed supply as core drivers of confidence. The update comes as digital asset markets continue to test investor patience.

Metaplanet Bitcoin Strategy Centers on Long-Term Accumulation

Simon Gerovich credited the company’s rapid shareholder growth to sustained belief in its Bitcoin-centered model. 

He said early support came from only a small group of investors. Today, ownership spans multiple regions, reflecting wider participation in crypto-linked equity strategies.

Thank you to every Metaplanet shareholder. When we started this journey, we had a handful of believers. Today we have hundreds of thousands of shareholders around the world. That growth reflects trust, and we don't take it lightly for a single day.

This has not been an easy…

— Simon Gerovich (@gerovich) February 19, 2026

According to a statement shared on X, the firm increased its Bitcoin per share by more than 500 percent during 2025. The company framed this metric as its primary performance benchmark. 

Management said every decision now prioritizes expanding that ratio over short-term price movements.

Gerovich also acknowledged that volatility has created difficult periods for shareholders. He noted that conviction does not remove the pain of drawdowns. 

The company stressed that its outlook remains anchored in long-term fundamentals rather than short-term market cycles.

The executive added that criticism tends to intensify when Bitcoin prices decline. He argued that abandoning strategy during downturns usually leads to weaker long-term outcomes.

The company maintained that discipline matters most during unstable market conditions.

Derivatives and Market Outlook Shape Bitcoin Accumulation Plan

Metaplanet said its derivatives strategy allows it to acquire Bitcoin at more favorable levels than spot purchases alone. 

The firm uses structured trading approaches designed to benefit from price swings. Management described this as a risk-managed method that supports consistent accumulation.

The company also highlighted income generation through derivatives as a core operational pillar. This approach aims to strengthen treasury growth without selling existing Bitcoin holdings. 

Metaplanet reiterated that it does not plan to liquidate its reserves under any circumstances.

Gerovich shared a personal view that Bitcoin may have found support near the $60,000 level. He emphasized uncertainty and said no one can predict exact price direction. 

Despite that view, the company said its strategy would not change regardless of short-term movements.

Metaplanet linked its long-term outlook to Bitcoin’s fixed supply and expanding global use. Management said these features support its belief in higher valuations over time. The firm stated that shareholder trust remains central to every operational decision.

The update was released through Gerovich’s verified social account and echoed the company’s broader messaging on transparency. It signals continued commitment to BTC accumulation amid fluctuating market sentiment. 

The firm positioned itself among a growing group of Bitcoin treasury companies pursuing long-term exposure.

The post Metaplanet CEO Defends Bitcoin Bet as Shareholder Base Hits Record High appeared first on Blockonomi.

TLDR

Mike McGlone adjusted his Bitcoin price forecast from $10,000 to $28,000 following significant backlash on social media.

McGlone had originally warned that Bitcoin could drop to $10,000 if U.S. equities peaked and a recession followed.

The revised forecast of $28,000 is based on historical price distribution and fewer negative factors needed to reach that level.

Analysts like Jason Fernandes criticized McGlone’s initial prediction, calling it alarmist and unrealistic.

Mati Greenspan acknowledged the possibility of a $28,000 Bitcoin price but remained skeptical of its likelihood in the current market.

Bloomberg Intelligence’s Mike McGlone recently adjusted his bitcoin price forecast, raising his downside target to $28,000. This shift followed criticism after his initial prediction of a potential $10,000 Bitcoin price was widely questioned on social media. McGlone’s revised stance comes after market experts accused him of issuing alarmist forecasts that could negatively impact investor decisions.

McGlone Faces Backlash for $10,000 Bitcoin Call

Earlier this week, McGlone warned that bitcoin could drop to $10,000 if U.S. equities reach their peak and a recession follows. He stated that bitcoin, being a high-beta asset, would suffer in a market breakdown, especially after the collapse of the “buy the dip” mentality. This prediction attracted significant criticism, with market analyst Jason Fernandes challenging the forecast on social media platforms like X and LinkedIn.

I disagree with the deterministic framing here. Markets adapt in more than one way and there are many variables involved. I’d welcome a public debate on this @mikemcglone11. Framing like this can materially influence decisions and put real capital at risk. https://t.co/4WJeIm46Hf

— Jason Fernandes (@JasonDotX) February 17, 2026

The backlash grew when Fernandes called McGlone’s $10,000 forecast unrealistic. He argued that such a dramatic drop would require several negative factors to align. Fernandes, in his critique, noted that the bitcoin price could face risks but stated that $28,000 was a more plausible level, particularly with fewer factors needed to drive that price point.

Bitcoin Price Forecast Revised to $28,000

In a subsequent post, McGlone acknowledged the feedback and adjusted his bitcoin price forecast. He pointed to $28,000 as a more likely scenario, citing historical price distribution as the basis for his updated target. Despite this revision, McGlone still maintained a cautious outlook, advising against investing in bitcoin or other risk assets.

While McGlone’s $28,000 prediction was seen as more reasonable, some market experts like Mati Greenspan remained skeptical. Greenspan suggested that although $28,000 might be possible, the likelihood of it happening was still low. He emphasized the unpredictable nature of markets, stating that while forecasts could be helpful, they should not rule out other possibilities.

Fernandes Challenges McGlone’s Forecast Shift

Fernandes, who had initially criticized McGlone’s $10,000 prediction, continued to voice concerns even after the revision. He highlighted that McGlone’s updated forecast now aligned closer to his own lower-bound estimate of bitcoin’s price range. Fernandes pointed out that a reset in the $40,000 to $50,000 range remained more probable, especially without a systemic liquidity shock.

Despite the change in McGlone’s outlook, the broader discussion highlighted the potential dangers of deterministic predictions in volatile markets like crypto. Analysts warned that alarmist forecasts could influence positioning and potentially lead to unnecessary risks for investors. Fernandes emphasized the need for more balanced approaches when discussing the future of high-risk assets like Bitcoin.

The post Mike McGlone Adjusts Bitcoin Price Target to $28,000 After Backlash appeared first on Blockonomi.

TLDR

Sharplink, backed by Consensys, now holds a total of 867,798 ETH valued at approximately $1.68 billion.

The firm’s holdings include ETH from liquid staking tokens like LsETH and WeETH, with significant staking rewards.

Sharplink has generated 13,615 ETH in staking rewards within less than a year, benefitting its stockholders.

Nearly 100% of Sharplink’s Ethereum holdings are staked, demonstrating its long-term commitment to Ethereum growth.

Institutional ownership of Sharplink’s common stock grew to 46% as of December 31, 2025, with 60 new investors.

Sharplink, an Ethereum treasury company backed by Consensys, now holds a total of 867,798 ETH, valued at around $1.68 billion, as of February 15. This amount includes ETH that is redeemable from staking tokens such as LsETH and WeETH. Sharplink has generated over 13,000 ETH in staking rewards since its launch less than a year ago.

The firm’s CEO, Joseph Chalom, emphasized the importance of their commitment to staking, even during periods of market volatility. Sharplink aims to generate long-term value for stockholders through disciplined and transparent execution, with their institutional ownership growing steadily.

Sharplink’s Ethereum Holdings and Liquid Staking Tokens

Sharplink’s total Ethereum holdings of 867,798 ETH include 225,429 ETH that can be redeemed from LsETH, a liquid staking token. Additionally, the firm holds 55,137 ETH from ether.fi’s wrapped WeETH, which can also be redeemed. These assets contribute to the firm’s growing portfolio and long-term strategy of ETH accumulation.

Sharplink has proven its focus on staking as nearly 100% of its Ethereum holdings are staked. Over the past year, the firm has generated 13,615 ETH in staking rewards. This demonstrates their commitment to increasing their stockholder value, regardless of market fluctuations.

Institutional Growth and Investor Confidence in Sharplink

Sharplink’s institutional ownership rose to 46% as of December 31, 2025. According to the company, 60 new institutional investors joined during the fourth quarter of 2025. The increased institutional ownership highlights the growing confidence investors have in Sharplink’s operations and Ethereum-focused treasury management.

Joseph Chalom, Sharplink’s CEO, commented on the firm’s strategic growth, saying, “Sophisticated investors want disciplined execution and institutional-grade risk management.” Sharplink’s steady expansion is reflective of its strong position in the Ethereum treasury space, with investors increasingly backing the firm’s Ethereum-centric approach.

The post Sharplink Increases Ethereum Holdings to 867,798 ETH with Staking Rewards appeared first on Blockonomi.

TLDR

Peter Brandt rejects the idea of a gold-to-Bitcoin rotation, questioning its certainty and predictability.

Brandt has expressed his skepticism on Bitcoin’s price movements, arguing that they don’t follow historical patterns.

He points out that Bitcoin’s downside risk remains active unless it reclaims the $93,000 level.

Brandt has identified a broadening top formation and completed bear channel in Bitcoin’s chart.

Macro factors such as ETF inflows and Federal Reserve policies complicate Bitcoin’s price outlook.

This week, a widely shared chart predicted that capital flows from gold would soon rotate into Bitcoin, based on past cycles. The theory suggests that as gold’s record-high profits consolidate, funds will shift to Bitcoin, boosting its price. Veteran trader Peter Brandt rejected this outlook, expressing skepticism about the certainty behind such projections.

Brandt Critiques Gold-to-Bitcoin Rotation Hypothesis

The “gold-to-Bitcoin” rotation theory argues that capital typically shifts from gold to higher-risk assets like Bitcoin after periods of macroeconomic stress. Proponents of the theory point to the historical pattern where gold rallies during uncertainty, followed by Bitcoin capturing inflows as risk appetite returns. Gold is currently trading at a near-record high of $4,983 per ounce, providing a backdrop for this argument.

Despite the bullish narrative, Peter Brandt, a veteran futures trader, dismisses this theory. Brandt, who has traded commodities for over 50 years, expressed his skepticism on X with a simple thumbs-down emoji. His critique stems from the belief that Bitcoin’s price movements do not follow predictable rotations like gold’s, often invalidating widely accepted chart patterns.

— Peter Brandt (@PeterLBrandt) February 19, 2026

Brandt’s Current Stance on Bitcoin’s Price Action

Brandt has remained cautious on Bitcoin throughout early 2026, despite its proximity to $66,500. The cryptocurrency has seen a steep decline from its January highs around $92,000. Brandt’s analysis focuses more on Bitcoin’s price structure rather than the narratives surrounding it.

Previously, Brandt identified a broadening top formation and a completed bear channel in Bitcoin’s chart. These patterns indicate a continued downside risk unless Bitcoin reclaims the $93,000 level. According to Brandt, the potential for a bottoming out extends into October 2026, with a price range between $50,000 and $62,000.

Bitcoin’s outlook is further complicated by macroeconomic variables that influence capital flows. ETF inflows, Federal Reserve policies, and global debt refinancing are all critical factors impacting market sentiment. Unlike gold, which has benefited from safe-haven demand, Bitcoin’s appeal as a store of value is still evolving in the current environment.

Brandt’s view underscores the uncertainty surrounding Bitcoin’s future price movements. He warns that consensus-driven interpretations and chart patterns in crypto markets often fail to account for the unpredictable nature of Bitcoin’s price action.

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TLDR

Bitcoin has lost $1.2 trillion in market value over the past five months.

Michael Saylor remains confident in Bitcoin’s future despite the market downturn.

Saylor’s firm, Strategy, faces an unrealized loss of $7.2 billion due to Bitcoin’s price drop.

Strategy has spent $4.09 billion on Bitcoin purchases this year alone.

Despite the decline, Saylor continues to buy Bitcoin, showing his unwavering optimism.

Bitcoin has seen substantial losses, shedding $1.2 trillion in market value over the past five months. The downturn has significantly impacted the crypto market, but Strategy Chairman Michael Saylor remains confident about Bitcoin’s future. Saylor continues to buy Bitcoin, despite his company’s unrealized losses from the ongoing market decline.

Bitcoin’s Massive Loss: A $1.2 Trillion Hit

Since October 2025, Bitcoin has lost $1.2 trillion, a substantial portion of the crypto market’s total decline. The global cryptocurrency market has seen a total reduction of $2.02 trillion, with Bitcoin responsible for over half of this drop. The cryptocurrency’s market cap has fallen from $2.52 trillion at its peak in October 2025 to $1.32 trillion today.

This steep decline reflects the ongoing struggles Bitcoin faces in the current market. With the price now at $66,000, Bitcoin has seen a 48% drop from its all-time high of $126,000. Despite this, Bitcoin remains the largest digital asset in terms of market capitalization.

Saylor’s Bullish Stance Amid the Decline

Despite Bitcoin’s massive losses, Michael Saylor remains unfazed, insisting that he is more bullish than ever. He maintains this positive outlook even as his firm, Strategy, faces an unrealized loss of $7.2 billion due to the price drop. “I’ve never been more bullish on Bitcoin than I am right now,” Saylor declared in a recent comment on X.

Saylor has been consistent in his belief that Bitcoin’s long-term potential remains strong. He has not altered his stance, even as analysts predict further declines in the crypto market. The Strategy Chairman’s continued optimism stands in contrast to the current bearish sentiment that dominates the market.

Never Been More ₿ullish.

— Michael Saylor (@saylor) February 19, 2026

Strategy’s Continued Bitcoin Purchases Despite Losses

Despite the ongoing market downturn, Strategy has been actively purchasing Bitcoin. This year alone, the company has spent $4.09 billion on Bitcoin acquisitions. Strategy has continued its buying spree even as Bitcoin has dropped 24% in value during the same period.

The firm’s most recent purchase was made on February 17, 2026, when it bought 2,486 BTC for $168.33 million. This followed two other Bitcoin purchases earlier in February, totaling 1,997 BTC. Saylor’s firm shows no sign of halting its Bitcoin accumulation strategy, even in the face of a prolonged downturn in the market.

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TLDR

ProShares launched the GENIUS Money Market ETF (IQMM), designed to support stablecoin issuers with liquid, short-term U.S. government securities.

The ETF is structured to comply with the GENIUS Act, which mandates stablecoin issuers to back their tokens with safe, liquid assets.

IQMM focuses on cash and Treasury bills with maturities of 93 days or less, ensuring liquidity for stablecoin issuers.

The GENIUS Act, signed into law in July, requires stablecoins to be backed 1:1 by assets that are easily convertible to cash.

The launch of the ETF comes as the stablecoin market approaches $300 billion, with projections for significant growth in the coming years.

ProShares introduced the GENIUS Money Market ETF (IQMM) on Thursday, a product designed for the growing stablecoin market. This fund aims to support stablecoin issuers by investing in highly liquid assets that meet the requirements of the GENIUS Act. The move comes as the stablecoin sector is projected to grow significantly in the coming years.

ProShares IQMM ETF Targets Stablecoin Issuers

The ProShares GENIUS Money Market ETF (IQMM) was launched to address a gap in the stablecoin market. Under the GENIUS Act, stablecoin issuers must back their tokens with assets that are liquid and low-risk, such as U.S. Treasury bills. IQMM is designed to invest solely in short-term, liquid U.S. government securities, meeting the law’s reserve criteria.

The law restricts eligible reserve assets to Treasury bills with maturities of no longer than 93 days. ProShares designed the fund to comply with these rules, ensuring that issuers can quickly access liquidity without selling longer-term bonds at a loss during periods of market volatility.

GENIUS Act Compliance Ensures Stability

The GENIUS Act, signed into law last July, is central to the structure of IQMM. The law aims to create a safer, more stable environment for the stablecoin market by requiring 1:1 backing with liquid, safe assets. ProShares’ ETF aligns with the law’s requirement, ensuring that stablecoins are supported by assets that can easily be converted to cash.

By focusing on cash and short-dated government securities, the fund provides issuers with the liquidity needed for daily redemptions. This ensures that stablecoin issuers can meet user demands without having to sell more volatile, longer-dated securities during times of stress in the financial markets.

Stablecoin Market Growth Prompts Regulatory Action

The launch of the IQMM fund occurs as the stablecoin market approaches $300 billion in circulation, with Tether’s USDT and Circle’s USDC leading the sector. Policymakers are preparing for rapid expansion, with some forecasts suggesting stablecoin circulation could reach $2 trillion by 2028. Wall Street projections are more optimistic, with some firms predicting the market could grow as large as $4 trillion.

Treasury Secretary Scott Bessent has indicated that stablecoins could become a significant part of the financial system in the coming years. His forecasts suggest the market could grow substantially by the end of the decade.

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TLDR

FXRP has surpassed 100 million tokens in circulation, reaching a major milestone within five months of its launch.

The demand for XRP-based decentralized finance products has driven the rapid growth in FXRP’s circulating supply.

Over 60% of FXRP tokens are locked in DeFi platforms like Kinetic and Firelight, showing strong user participation.

Flare has paused FXRP minting temporarily to implement a security upgrade, ensuring system integrity.

No security breaches or exploits have been reported; the minting pause is a precautionary measure to enhance security.

Flare Network’s wrapped XRP asset, FXRP, has reached an important milestone by surpassing 100 million tokens in circulation. This achievement, which occurred just five months after the launch of FAssets in September 2025, signals a surge in demand for XRP-based decentralized finance (XRPFi) solutions. The rising interest in XRP DeFi products is reflected in the strong performance of FXRP across Flare’s ecosystem.

FXRP Reaches 100 Million Tokens in Circulation

Flare Network’s FXRP has surpassed the 100 million mark in circulating supply, with tokens worth approximately $140.10 million. This milestone follows an increase in demand for XRPFi solutions, especially yield-generating products. According to reports, the FXRP supply had recently been 1.18 million tokens short of this target, but strong interest led to rapid growth in the circulating supply.

At the time of writing, FXRP’s circulating supply stands at 100.23 million tokens, minted through 38,030 transactions. This shows that these tokens are being actively used for yield generation within Flare’s DeFi ecosystem. A large portion of these tokens remains locked in native Flare-based DeFi protocols, underscoring the increasing utilization of FXRP for practical use cases rather than speculative accumulation.

Flare has seen FXRP become a key component in its decentralized finance offerings. Over 60% of the circulating FXRP tokens are locked in DeFi platforms such as Kinetic and Firelight. These platforms allow users to deploy their FXRP to earn yields, which further drives the real-world use of FXRP in the DeFi space. The high utilization rate of FXRP tokens reflects strong user interest in participating in XRPFi and earning returns.

Flare’s official X account highlighted the importance of this milestone, stating that the significance lies in the real-world use of FXRP rather than just the quantity of tokens in circulation. The network emphasized that XRPFi is designed to accommodate large XRP balances and offers secure access to yield through verifiable smart contracts. FXRP plays a crucial role in enabling reliable, scalable participation in the DeFi space, offering a solid infrastructure for users to engage with decentralized financial products.

Flare Pauses FXRP Minting Amid Security Updates

Despite the rapid adoption of FXRP, Flare has temporarily paused the minting of additional tokens. Hugo Philion, Flare’s co-founder, confirmed that the pause follows a report from a security partner. The decision comes as part of a proactive move to implement a contract upgrade that will enhance security measures across the platform.

Philion clarified that this action is not the result of any exploit or security breach, and no funds have been compromised. Instead, the suspension of FXRP minting aims to strengthen the security of Flare’s systems and ensure the integrity of FXRP operations. Flare plans to release the contract upgrade on both Flare and Songbird networks, with further communication expected before implementation.

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TLDR

CME Group will begin offering 24/7 crypto futures and options trading starting May 29.

The move expands access to regulated digital asset derivatives as institutional demand grows.

CME Group’s decision aims to fill the timing gaps left by continuous trading on spot exchanges.

In 2025, CME reported a record $3 trillion in notional volume traded across its crypto products.

The expansion follows a 46% year-over-year increase in CME’s average daily crypto volume.

CME Group will begin offering round-the-clock cryptocurrency futures and options trading for assets like Bitcoin and Ethereum on May 29. This move will allow continuous access to its regulated digital asset derivatives market. The expansion comes as institutional demand for crypto products grows at an accelerated pace.

CME Group Expands Trading Hours for Crypto Futures and Options

CME Group’s decision to launch 24/7 crypto trading marks a milestone in its ongoing digital asset offerings. This change comes as the company responds to increasing demand for more flexible trading options in crypto derivatives. It will allow institutional investors to manage their risk and exposure at any time, without waiting for traditional market closures.

In the past, digital asset trading operated continuously on spot exchanges, leaving gaps for those trading regulated crypto products. By introducing continuous trading hours, CME Group aims to address these timing issues, providing institutions with the ability to hedge and manage risks seamlessly. This update will enhance the accessibility of CME’s futures and options markets.

CME Group’s decision comes after experiencing a record trading volume in its cryptocurrency products. In 2025, the company reported $3 trillion in notional volume traded across its crypto futures and options. This surge in trading volume underscores the growing institutional interest in regulated crypto exposure.

Tim McCourt, CME’s global head of equities, FX, and alternative products, noted that client demand for crypto risk management has reached new highs. “Providing always-on access to our regulated, transparent cryptocurrency products ensures clients can manage their exposure and trade with confidence at any time,” McCourt said. The change reflects CME’s ability to adapt to market demand while remaining a key player in the cryptocurrency derivatives market.

Institutional Demand for Crypto Products Continues to Rise

CME Group’s shift to 24/7 crypto futures trading follows an ongoing trend of increased demand for digital asset products. The company has seen impressive growth in crypto-related trading. Year-to-date, CME reported an average daily crypto volume of 407,200 contracts, up 46% from the previous year. The average daily open interest has also risen by 7%.

This expansion is in line with CME’s strategy to broaden its digital asset product lineup. In addition to Bitcoin and Ethereum, CME has added contracts for other cryptocurrencies, such as Cardano, Chainlink, and Stellar. The market for crypto-linked products is increasingly competitive, with other exchanges and companies like Coinbase and Kraken investing heavily in similar products to cater to the rising institutional interest.

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TLDR

Bitdeer announced plans to raise $300 million through a private sale of convertible senior notes.

The company intends to use the proceeds to manage share dilution and expand its business operations.

The convertible notes are due in 2032 and can be converted into cash, shares, or a combination of both.

Bitdeer also plans to sell Class A shares directly to holders of its 5.25% convertible notes due in 2029.

The market reacted negatively, causing Bitdeer’s shares to drop 17% and fall below $8 for the first time since April.

Shares of Bitdeer Technologies (BTDR) dropped 17% on Thursday after the company announced plans to raise $300 million through a private sale of convertible senior notes. These notes, due in 2032, could be converted into cash, shares, or a mix of both at Bitdeer’s discretion. Alongside this, Bitdeer also revealed plans for a registered direct offering of Class A shares.

The company intends to use the funds to address share dilution and expand its business operations. The announcement sent Bitdeer’s stock to below $8 for the first time since April, reflecting investor concerns about the potential impact of these financial moves.

Bitdeer Announces Convertible Senior Notes Offering

Bitdeer’s $300 million convertible senior notes offering has raised concerns about possible dilution of its shares. The company’s decision to sell these notes, due in 2032, comes with the potential for noteholders to convert the debt into equity. The conversion could increase the total share count, leading to dilution if Bitdeer’s stock price rises in the future.

Additionally, Bitdeer plans to use a capped call transaction to mitigate some of the potential dilution caused by the conversion. The capped calls are designed to offset the effect of increased shares, though such measures can introduce volatility in the company’s stock price. The company has also secured an underwriter greenshoe option for an additional $45 million in notes, adding further uncertainty to its financial strategy.

Bitdeer Plans Registered Direct Offering and Repurchase of Convertible Notes

Along with the convertible note offering, Bitdeer intends to sell an unspecified number of Class A shares in a registered direct offering. This offering will be aimed at holders of its existing 5.25% convertible notes due in 2029. The company plans to use the proceeds to repurchase a portion of these notes in private deals and fund the capped call transactions.

Bitdeer’s strategy is to manage the risk of share dilution while securing the necessary capital for its future operations. It aims to use the remaining funds for expanding its data center infrastructure, enhancing its high-performance computing and AI cloud businesses, and developing ASIC-based mining rigs.

The two financial offerings depend on the successful completion of the convertible note sale and related repurchases, but the note offering can proceed independently. This combination of offerings and repurchases is part of Bitdeer’s plan to maintain control over its stock structure while continuing to grow its business.

Despite these efforts, the market reacted negatively, with Bitdeer’s shares falling to their lowest point in several months. The fear of dilution from the new offerings has weighed on investor sentiment, driving the stock down by 17% in early trading.

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TLDR

Hims & Hers Health (HIMS) will acquire Australian digital health company Eucalyptus for up to $1.15 billion.

The deal includes ~$240 million cash at closing, deferred payments over 18 months, and performance-based earnouts through early 2029.

Eucalyptus runs a ~$450 million annual revenue business with brands like Juniper and Pilot, serving 775,000+ customers.

The acquisition expands HIMS into Australia and Japan, and deepens its presence in the UK, Germany, and Canada.

Eucalyptus CEO Tim Doyle will head international operations at Hims & Hers post-closing.

Hims & Hers Health announced Thursday it will acquire Australian digital health company Eucalyptus in a deal valued at up to $1.15 billion.

The transaction will be structured with roughly $240 million payable in cash at closing, followed by deferred payments over 18 months and additional performance-based earnouts running through early 2029.

Hims & Hers said it plans to fund most of the deal using existing cash and U.S. operating cash flows. The company also retains the option to settle a majority of deferred and earnout obligations in either cash or stock.

The deal is expected to close around mid-2026, subject to regulatory approvals and customary closing conditions.

Eucalyptus brings a fast-growing business to the table. The Australian company is running at nearly $450 million in annual revenue and has served more than 775,000 customers across its portfolio of consumer health brands.

Those brands include Juniper, a weight-loss program, and Pilot, a men’s telehealth service. Both operate across multiple international markets.

A Foothold in New Markets

For Hims & Hers, the strategic appeal is clear. The deal would give it direct operations in Australia and Japan, two markets where it currently has no presence.

It also strengthens existing partnerships in the UK, Germany, and Canada — markets where Hims & Hers has been building out its telehealth footprint.

Post-closing, Eucalyptus CEO Tim Doyle is set to lead all international operations at Hims & Hers. The Eucalyptus brands will be folded into the Hims & Hers platform over time.

Management said the combined business is expected to support category leadership in Australia and reinforce HIMS as a major telehealth provider in Europe.

The Wegovy Shadow

The deal comes at a complicated time for Hims & Hers domestically. The company is currently facing a lawsuit from Novo Nordisk after the FDA crackdown forced it to pull its $49 compounded copy of Wegovy from the market.

That regulatory setback hit a key growth driver for HIMS, making the international diversification story behind this acquisition particularly timely.

The most recent analyst rating on HIMS stock is a Buy with a $30.00 price target.

HIMS shares were up 2.65% in after-hours trading following the announcement, though the stock was down 2.64% during the regular session on Thursday.

The post Hims & Hers (HIMS) Stock: Company Acquires Eucalyptus for Up to $1.15 Billion appeared first on Blockonomi.

CME will offer 24/7 crypto futures and options starting May 29, pending approval.

Year-to-date 2026 ADV hits 407,200 contracts, up 46% from last year.

Futures ADV rises 47% YoY, signaling strong institutional interest in crypto derivatives.

CME implements brief weekly maintenance; all holiday trades settle the next business day.

 

CME Group will begin round-the-clock trading for cryptocurrency futures and options starting May 29. The move awaits regulatory approval. Trading will run continuously on CME Globex, with a brief weekly maintenance window. 

The update comes amid record demand for digital asset risk management, according to Walter Bloomberg. In 2025, CME reported $3 trillion in crypto notional volume. Year-to-date 2026 volumes are up 46%, highlighting growing institutional participation.

The announcement was confirmed via a press release from CME Group. It emphasizes access to regulated, transparent crypto products at all times for market participants.

CME TO LAUNCH 24/7 CRYPTO TRADING MAY 29

CME Group will begin 24/7 trading of its regulated cryptocurrency futures and options on May 29, pending regulatory approval.

Trading will run continuously on CME Globex, with a brief weekly maintenance window. The move comes amid record…

— *Walter Bloomberg (@DeItaone) February 19, 2026

Continuous Trading and Market Access

Starting Friday, May 29 at 4:00 p.m. CT, CME cryptocurrency products will trade 24/7. A

 two-hour weekly maintenance period will occur over weekends. Trade dates for holiday or weekend activity will follow the next business day. Clearing, settlement, and regulatory reporting will also be processed on the next business day.

Tim McCourt, Global Head of Equities, FX, and Alternative Products at CME Group, said client demand for digital asset risk management is at an all-time high. Providing 24/7 access aims to let clients manage exposure anytime. Consequently, traders can react to market changes without delay.

This continuous trading structure includes both futures and options. CME Globex will host all transactions. As a result, the exchange meets rising institutional interest in high-frequency crypto risk management.

Record Volumes and Market Impact

Crypto trading at CME continues to reach record levels in 2026. Average daily volume stands at 407,200 contracts, up 46% year-over-year. Futures ADV alone is 403,900 contracts, marking a 47% increase. Open interest has risen 7% to 335,400 contracts.

CME operates across multiple asset classes, including interest rates, equity indexes, and commodities. Its derivatives platform allows clients to manage risk efficiently and capture opportunities. 

By offering 24/7 crypto trading, CME provides a regulated alternative to unregulated markets.

The update also aligns with CME’s goal to enhance market transparency. Clients can trade with confidence, knowing all activity occurs under regulated oversight. This development strengthens the exchange’s position as a leading crypto derivatives marketplace.

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TLDR

Lemonade (LMND) Q4 revenue hit $228.1 million, up 53.3% year-on-year, beating estimates of $217.6 million

Adjusted EPS loss of -$0.29 beat analyst estimates of -$0.39 by $0.10

Net premiums earned came in at $179.5 million, an 8.3% beat and 77.4% year-on-year growth

Q1 2026 revenue guidance of $246–$251 million tops analyst consensus of $241.6 million

Shares jumped over 17% in pre-market trading following the results

Lemonade (NYSE: LMND) shares surged more than 17% in pre-market trading on Thursday after the company posted Q4 results that beat analyst expectations across the board.

Revenue for the quarter came in at $228.1 million, up 53.3% year-on-year and ahead of the Wall Street consensus of $217.6 million. That’s a solid beat by any measure.

$LMND (Lemonade) #earnings are out: pic.twitter.com/EMgd9say6F

— The Earnings Correspondent (@earnings_guy) February 19, 2026

The company reported an adjusted loss of $0.29 per share, compared to analyst estimates of -$0.39. That’s a $0.10 beat, or roughly 26% better than expected.

Net premiums earned — the number analysts tend to watch most closely for insurers — came in at $179.5 million. That beat estimates of $165.8 million by 8.3% and grew 77.4% compared to the same quarter last year.

Pre-tax loss for the quarter was $20.6 million, representing a -9% margin.

Strong Premium Growth Drives the Beat

Net premiums earned have grown at a 47.3% annualized rate over the last five years, well above the broader insurance industry average.

Over the past two years, that growth rate has moderated to around 30% annually — still a healthy clip, and consistent with the company’s overall revenue trajectory.

Lemonade’s revenue has compounded at roughly 50.9% annually over the last five years. The most recent two-year annualized rate of 31% shows some deceleration but still points to strong underlying demand.

Net premiums earned made up about 70.8% of total revenue over the last five years, making it the company’s primary revenue driver.

Q1 2026 Guidance Tops Estimates

Looking ahead, Lemonade guided Q1 2026 revenue to between $246 million and $251 million. The midpoint of that range, $248.5 million, comes in above the analyst consensus of $241.6 million.

That forward guidance gave investors an additional reason to bid the stock higher on Thursday morning.

Lemonade operates across renters, homeowners, pet, car, and life insurance in both the U.S. and EU markets through its AI-powered digital platform.

The company’s Giveback program, which donates unused premiums to policyholder-selected charities, remains a differentiator in its positioning — though it’s the underlying growth numbers doing the heavy lifting right now.

Lemonade held a market capitalization of $4.91 billion at the time of reporting.

The company hosted a conference call Thursday at 8:00 am Eastern to discuss results.

Shares traded up 11.1% to $73.05 immediately after the report, with pre-market gains extending above 17% as the session progressed.

The post Lemonade (LMND) Stock Jumps 17% After Q4 Earnings Beat appeared first on Blockonomi.

TLDR

Carvana Q4 revenue hit $5.6 billion, up 58% year-over-year, beating estimates of $5.27 billion

Adjusted EBITDA of $511 million missed the $541 million consensus estimate

Retail units sold reached 163,522 in Q4; full-year 2025 total was 596,641 vehicles, up 43%

Gross profit per unit came in at $3,076, roughly $200 below Wall Street expectations

Q1 2026 guidance was vague, with no specific figures provided

Carvana shares dropped sharply Thursday after the used-car retailer posted mixed fourth-quarter results — strong on revenue, weak on profit.

BREAKING: Carvana stock, $CVNA, falls over -20% after reporting its lowest gross profit per unit in 8 quarters. pic.twitter.com/cNTpNIREId

— The Kobeissi Letter (@KobeissiLetter) February 19, 2026

The stock fell more than 15% in premarket trading Thursday, having dropped as much as 21% in after-hours Wednesday following the report’s release.

Q4 revenue came in at $5.6 billion, up 58% from a year ago and above the $5.27 billion analyst estimate. Retail units sold hit 163,522, also ahead of the 157,226 expected.

But the bottom line told a different story. Adjusted EBITDA came in at $511 million, short of the $541 million Wall Street was looking for. The adjusted EBITDA margin of 10.1% missed estimates of 10.4%.

Gross profit per unit was $3,076 — about $200 below expectations. Higher reconditioning and depreciation costs, along with a drop in shipping revenue, were cited as the main drivers of the shortfall.

Growth Targets Still on the Horizon

For the full year 2025, Carvana sold 596,641 vehicles, a 43% jump from 2024. The company’s estimated market share in the used-car market grew to 1.6%, up from 1.1% the year before.

CEO Ernie Garcia III reiterated the company’s long-term target: 3 million retail unit sales per year at a 13.5% adjusted EBITDA margin, to be reached sometime between 2030 and 2035.

“We are the fastest growing and most profitable automotive retailer,” Garcia said in his shareholder letter. “The path to selling 3 million cars per year at 13.5% Adjusted EBITDA margins by 2030-2035 is clear.”

For Q1 2026, guidance was light. Garcia said Carvana expects growth in both retail units and adjusted EBITDA compared to Q4, but gave no specific numbers. Wall Street had been looking for Q1 adjusted EBITDA of $671 million and retail unit sales of 175,478.

Garcia also flagged that higher reconditioning costs are expected to carry into Q1, though the company projects higher profit per unit.

Analyst Reaction

BTIG analyst Marvin Fong kept a Buy rating on CVNA but cut the price target from $535 to $455. Fong said investors will need to weigh whether Carvana’s willingness to sacrifice margin expansion for market share gain is the right trade-off — but argued unit growth remains the more important metric for the company’s story.

The stock had already been under pressure in 2026, down 14% year-to-date before the earnings drop. In January, short seller Gotham City Research alleged that Carvana overstated earnings by around $1 billion in 2023 and 2024 by not fully disclosing benefits received from DriveTime, a used-car company controlled by the CEO’s father, Ernie Garcia II. Carvana denied the allegations.

With higher costs expected in Q1 and no firm guidance given, investors are left weighing strong volume growth against continued margin pressure.

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