Coinbase Global, Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно упал. Медведи продолжают терять уверенность.

Medium index, significantly down. Bears continue to lose confidence.

Сильный индекс, без изменений. Рынок не поддерживает быков.

Strong index, flat. The market does not support the bulls.

Сильный индекс, без изменений. Рынок на стороне медведей.

Strong index, flat. The market is on the bears' side.

Средний индекс, без изменений. Отток средств из лонгов на высоком уровне.

Medium index, flat. Outflow of funds from longs at a high level.

Слабый индекс, незначительно упал. Приток средств в шорты остается положительным.

Weak index, slightly down. The inflow of funds into shorts remains positive.

The S&P 500 Index ($SPX) (SPY) closed up by +0.33% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +1.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.05%. December E-mini S&P futures (ESZ26) rose +0.28%, and December E-mini Nasdaq futures (NQZ26) fell -0.14%.
Stock indexes settled mixed on Thursday, with the Nasdaq 100 dropping to a 3.5-week low. Stocks recovered from early losses on Thursday to trade mixed as bond yields fell and as investors rotated out of chip stocks into software and pharmaceutical companies.
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The Nasdaq 100 was under pressure on Thursday amid concerns about the sustainability of the artificial intelligence trade. This week’s rout in chipmakers and AI-infrastructure stocks spread globally, with South Korea’s Kospi Index sinking more than 7% and China’s Shanghai Composite falling to a 14-month low. Thursday’s drop in chipmakers followed Anthropic PBC's disclosure of $16.8 billion in Q3 growth to prospective investors, figures that suggest growth has slowed even as it remains robust.
Stocks were also pressured on Thursday on rising US producer price pressures after the Sep PPI final demand rose +6.3% y/y, stronger than expectations of +5.4% y/y and the most in 3.75 years. Also, Sep PPI ex-food and energy rose +5.0% y/y, stronger than expectations of +4.4% y/y and the most in more than 3.5 years.
Other US economic news on Thursday was mixed, with Sep retail sales and the Oct Empire manufacturing survey rising more than expected and weekly jobless claims near expectations. However, the Oct Philadelphia Fed business outlook survey fell more than expected.
On the positive side, Thursday’s slump in global equity markets sparked a rally in government bond markets, knocking yields lower. The 10-year German Bund yield fell to a 5-week low on Thursday of 3.35%, and the 10-year T-note yield fell to a 3-week low of 5.04%.
US weekly initial unemployment claims rose by +1,000 to 199,000, close to expectations of 200,000.
US Sep retail sales rose +0.8% m/m, stronger than expectations of +0.3% m/m, and Sep retail sales ex-autos rose+0.9% m/m, stronger than expectations of +0.5% m/m.
The US Oct Philadelphia Fed business outlook survey fell by -16.9 to 20.9, weaker than expectations of 28.0.
The US Oct Empire manufacturing survey of general business conditions rose +17.9 to a 4.75-year high of 25.5, stronger than expectations of 12.0.
Stocks and bonds got some support Thursday after San Francisco Fed President Mary Daly said she thinks rate hikes are likely needed, just not immediately, and that she would hold interest rates steady at the October 27-28 FOMC meeting.
Stocks have support from the prospect of solid quarterly earnings results that began this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of Thursday’s close, 38 of the S&P 500 companies have reported results, with 82% beating estimates.
Nov WTI crude oil prices (CLX26) rallied more than +3% on Thursday to a 3-week high. Crude prices are supported by risks to global oil supplies as Yemen's Houthi rebels continue drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East. Crude prices raced to their high Thursday after weekly EIA crude inventories unexpectedly fell by -8.56 million bbl.
Markets are discounting a 27% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled lower on Thursday. The Euro Stoxx 50 closed down -0.36%. China's Shanghai Composite fell to a 14-month low and closed down -1.59%. Japan's Nikkei-225 Stock Average dropped to a 4-week low and closed down sharply by -4.90%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +21 ticks on Thursday. The 10-year T-note yield fell -10.0 bp to 5.085%. Dec T-notes rallied to a 3-week high on Thursday, and the 10-year T-note yield fell to a 3-week low of 5.035%. Lower inflation expectations were supportive of T-notes after the 10-year breakeven inflation rate fell to a 1-week low of 2.320% on Thursday. Also, dovish comments from San Francisco Fed President Mary Daly were bullish for T-notes when she suggested she would support holding interest rates steady at the October 27-28 FOMC meeting.
Hawkish US economic news on Thursday was bearish for T-notes after US Sep producer prices and Sep retail sales rose more than expected, and the Oct Empire manufacturing survey's general business conditions rose to a 4.75-year high.
European government bond yields moved lower on Thursday. The 10-year German bund yield fell to a 5-week low of 3.353% and finished down -5.3 bp to 3.413%. The 10-year UK gilt yield fell to a 1.5-week low of 5.301% and finished down -5.0 bp to 5.374%.
Eurozone Aug industrial production fell -0.5% m/m, weaker than expectations of no change and the biggest decline in 7 months.
ECB Governing Council member Martins Kazaks said the ECB can afford to take its time adjusting interest rates, despite persistent energy price rises that are set to keep consumer price growth elevated, as the recent surge in government bond yields may start to weigh on economic activity.
UK Aug manufacturing production rose +1.2% m/m, stronger than expectations of no change and the largest increase in 9 months.
Markets are discounting a 9% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Software stocks rallied on Thursday as investors rotate out of chip stocks into software. Intuit (INTU) and ServiceNow (NOW) closed up more than +6%, and Atlassian (TEAM) and Autodesk (ADSK) closed up more than +5%. Also, Workday (WDAY), Salesforce (CRM), and Adobe Systems (ADBE) closed up more than +4%, Oracle (ORCL) closed up more than +3%, and Thomson Reuters (TRI) closed up more than +2%.
Pharmaceutical stocks moved higher on Thursday amid stock rotation out of AI stocks. Alnylam Pharmaceuticals (ALNY) closed up more than +4%, and Eli Lilly (LLY) and Ionis Pharmaceuticals (IONS) closed up more than +3%. Also, Gilead Sciences (GILD), Vertex Pharmaceuticals (VRTX), Regeneron Pharmaceuticals (REGN), and Jazz Pharma Plc (JAZZ) closed up more than +2%. and Amgen (AMGN) and Biogen (BIIB) closed up more than +1%.
Cryptocurrency-exposed stocks rallied on Thursday after Bitcoin (^BTCUSD) rebounded from a 3.5-week low and moved higher. Circle Internet Group (CRCL) closed up more than +9%, and Coinbase Global (COIN) closed up more than +6%. Also, Strategy (MSTR) closed up more than +5%, and Bullish (BLSH) and BitMine Immersion Technologies (BMNR) closed up more than +4%. In addition, Riot Platforms (RIOT) and Robinhood Markets (HOOD) closed up more than +2%, and MARA Holdings (MARA) and Galaxy Digital Holdings (GLXY) closed up more than +1%.
Chipmakers and AI-infrastructure stocks fell on Thursday on demand concerns after Anthropic disclosed Q3 revenue growth that likely slowed from the previous quarter. Applied Materials (APLD), Lam Research (LRCX), and Seagate Technology Holdings Plc (STX) closed down more than -3%, and Intel (INTC), KLA Corp (KLAC) and Western Digital (WDC) closed down more than -2%. In addition, Nvidia (NVDA), Advanced Micro Devices (AMD), Marvell Technology (MRVL), and SanDisk (SNDK) closed down more than -1%.
Penske Automotive Group (PAG) closed up more than +8% after entering a deal to be taken private for $212 a share in cash by Penske Corporation and Mitsui.
International Paper (IP) closed up more than +6% after the Financial Times reported that private equity firms Lone Star and Atlas Holdings are exploring bids to acquire the company.
Kimberly-Clark (KMB) closed up more than +4% after reporting preliminary Q3 net sales of $4.13 billion, above the consensus of $4.10 billion.
FMC Corp (FMC) closed down more than -30% after cutting its Q3 adjusted Ebitda forecast to a loss of -$510 million to -$565 million, after previously expecting a profit of$120 million to $140 million.
Hewlett Packard Enterprise (HPE) closed down more than -7% to lead losers in the S&P 500, adding to Wednesday’s -7 decline, and Dell Technologies (DELL) closed down more than -6%, adding to Wednesday’s 10% plunge after Barclays downgraded the stocks to equal weight from overweight.
Rocket Lab (RKLB) closed down more than -6% to lead losers in the Nasdaq 100 after announcing that it will delay the launch of its inaugural Neutron medium-lift rocket until sometime in 2027.
Earnings Reports (10/16/2026)
Citizens Financial Group Inc (CFG), M&T Bank Corp (MTB), Regions Financial Corp (RF), Travelers Cos Inc/The (TRV), Truist Financial Corp (TFC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Settle Mixed as Broader Market Recovers from Chip Stock Rout

The S&P 500 Index ($SPX) (SPY) is down by -0.57% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.71%. December E-mini S&P futures (ESZ26) are down -0.58%, and December E-mini Nasdaq futures (NQZ26) are down -1.54%.
Stock indexes are mostly lower today, with the S&P 500 falling to a 2-week low and the Nasdaq 100 dropping to a 3.5-week low. The broader market is under pressure today as the rout in chipmakers and AI-infrastructure stocks spreads globally, with South Korea’s Kospi Index sinking more than -7% and China’s Shanghai Composite falling to a 14-month low. Today’s drop in chipmakers followed Anthropic PBC's disclosure of $16.8 billion in Q3 growth to prospective investors, figures that suggest growth has slowed even as it remains robust.
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Stocks extended their losses today on rising US producer price pressures after the Sep PPI final demand rose +6.3% y/y, stronger than expectations of +5.4% y/y and the most in 3.75 years. Also, Sep PPI ex-food and energy rose +5.0% y/y, stronger than expectations of +4.4% y/y and the most in more than 3.5 years.
Other US economic news today was mixed, with Sep retail sales and the Oct Empire manufacturing survey rising more than expected and weekly jobless claims near expectations. However, the Oct Philadelphia Fed business outlook survey fell more than expected.
On the positive side, the slump in global equity markets has sparked a rally in government bond markets, knocking yields lower. The 10-year German Bund yield fell to a 5-week low today of 3.35%, and the 10-year T-note yield fell to a 3-week low of 5.04%. Also, investors rotating out of chip stocks into software companies and defensive pharmaceuticals stocks are lifting the Dow Jones Industrials.
US weekly initial unemployment claims rose by +1,000 to 199,000, close to expectations of 200,000.
US Sep retail sales rose +0.8% m/m, stronger than expectations of +0.3% m/m, and Sep retail sales ex-autos rose+0.9% m/m, stronger than expectations of +0.5% m/m.
The US Oct Philadelphia Fed business outlook survey fell by -16.9 to 20.9, weaker than expectations of 28.0.
The US Oct Empire manufacturing survey of general business conditions rose +17.9 to a 4.75-year high of 25.5, stronger than expectations of 12.0.
Stocks and bonds got some support today after San Francisco Fed President Mary Daly said she thinks rate hikes are likely needed, just not immediately, and that she would hold interest rates steady at the October 27-28 FOMC meeting.
Stocks have support from the prospect of solid quarterly earnings results starting this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of today, 32 of the S&P 500 companies have reported results, with 78% beating estimates.
Nov WTI crude oil prices (CLX26) are up +0.20% today. Crude prices are supported by risks to global oil supplies as Yemen's Houthi rebels continue drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East. However, today’s selloff in global equity markets is curbing demand for risk assets, including crude.
Markets are discounting a 29% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.62%. China's Shanghai Composite fell to a 14-month low and closed down -1.59%. Japan's Nikkei-225 Stock Average dropped to a 4-week low and closed down sharply by -4.90%.
Interest Rates
December 10-year T-notes (ZNZ6) are up by +23 ticks today. The 10-year T-note yield is down -12.5 bp to 5.060%. Dec T-notes rallied to a 3-week high today, and the 10-year T-note yield fell to a 3-week low of 5.041%. Today’s selloff in global equity markets has boosted safe-haven demand for T-notes. Also, dovish comments from San Francisco Fed President Mary Daly were bullish for T-notes when she suggested she would support holding interest rates steady at the October 27-28 FOMC meeting.
Hawkish US economic news is limiting gains in T-notes after US Sep producer prices and Sep retail sales rose more than expected, and the Oct Empire manufacturing survey's general business conditions rose to a 4.75-year high.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 5-week low of 3.353% and is down -10.7 bp to 3.359%. The 10-year UK gilt yield fell to a 1.5-week low of 5.301% and is down -11.3 bp to 5.312%.
Eurozone Aug industrial production fell -0.5% m/m, weaker than expectations of no change and the biggest decline in 7 months.
ECB Governing Council member Martins Kazaks said the ECB can afford to take its time adjusting interest rates, despite persistent energy price rises that are set to keep consumer price growth elevated, as the recent surge in government bond yields may start to weigh on economic activity.
UK Aug manufacturing production rose +1.2% m/m, stronger than expectations of no change and the largest increase in 9 months.
Markets are discounting an 11% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today on demand concerns after Anthropic disclosed Q3 revenue growth that likely slowed from the previous quarter. The iShares Semiconductor ETF (SOXX) is down more than -3% at a 1-month low. SanDisk (SNDK) and Seagate Technology Holdings Plc (STX) are down more than -7%, and Intel (INTC), Lam Research (LRCX), and Western Digital (WDC) are down more than -6%. Also, Advanced Micro Devices (AMD), Applied Materials (APLD), and Marvell Technology (MRVL) are down more than -5%, and KLA Corp (KLAC) and Micron Technology (MU) are down more than -4%.
Cryptocurrency-exposed stocks are falling today, with Bitcoin (^BTCUSD) down more than -2% at a 3.5-week low. Iren Ltd (IREN) is down more than -10%, and Galaxy Digital Holdings (GLXY) and Riot Platforms (RIOT) are down more than -8%. Also, MARA Holdings (MARA) and BitMine Immersion Technologies (BMNR) are down more than -6%, and Robinhood Markets (HOOD) and Strategy (MSTR) are down more than -5%. In addition, Coinbase Global (COIN) is down more than -3%, and Circle Internet Group (CRCL) and Bullish (BLSH) are down more than -2%.
Cloud infrastructure stocks are under pressure today on debt concerns after credit-default swaps have priced in a more than 50% chance that CoreWeave could default on its debt within the next five years. Nebius Group NV (NBIS) and Lumentum Holdings (LITE) are down more than -8%, and CoreWeave (CRWV) is down more than -6%. Also, Arista Networks (ANET) and Applied Digital (APLD) are down more than -5%.
Software stocks are climbing today as investors rotate out of chip stocks into software. Intuit (INTU) is up more than +5% to lead gainers in the Nasdaq 100, and Autodesk (ADSK) is up more than +4%. Also, Workday (WDAY) and Adobe Systems (ADBE) are up more than +3%, and Salesforce (CRM) and Thomson Reuters (TRI) are up more than +2%. In addition, IBM (IBM) and ServiceNow (NOW) are up more than +1%.
Defensive pharmaceutical stocks are climbing today amid the broader market slump. Amgen (AMGN), Eli Lilly (LLY), Gilead Sciences (GILD), and Vertex Pharmaceuticals (VRTX) are up more than +3%, and Biogen (BIIB), Merck & Co (MRK), Alnylam Pharmaceuticals (ALNY), and Regeneron Pharmaceuticals (REGN) are up more than +2%. Also, Pfizer (PFE) is up more than +1%.
FMC Corp (FMC) is down more than -34% after cutting its Q3 adjusted Ebitda forecast to a loss of -$510 million to -$565 million, after previously expecting a profit of$120 million to $140 million.
Rocket Lab (RKLB) is down more than -13% to lead losers in the Nasdaq 100 after announcing that it will delay the launch of its inaugural Neutron medium-lift rocket until sometime in 2027.
Penske Automotive Group (PAG) is up more than +8% after entering a deal to be taken private for $212 a share in cash by Penske Corporation and Mitsui.
International Paper (IP) is up more than +5% to lead gainers in the S&P 500 after the Financial Times reported private equity firms Lone Star and Atlas Holdings are exploring bids to acquire the company.
Walmart (WMT) is up more than +3% after Deutsche Bank upgraded the stock to buy from hold with a price target of $136.
Kimberly-Clark (KMB) is up more than +3% after reporting preliminary Q3 net sales of $4.13 billion, above the consensus of $4.10 billion.
Commercial Metals (CMC) is up more than +2% after reporting Q4 net sales of $2.66 billion, better than the consensus of $2.54 billion.
Earnings Reports (10/15/2026)
Alcoa Corp (AA), Bank of New York Mellon Corp/The (BNY), Charles Schwab Corp/The (SCHW), First Horizon Corp (FHN), Interactive Brokers Group Inc (IBKR), JB Hunt Transport Services Inc (JBHT), Marsh & McLennan Cos Inc (MRSH), PNC Financial Services Group Inc (PNC), Prologis Inc (PLD), US Bancorp (USB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Pressured as Chipmaker Selloff Deepens

Key Points
Coinbase is now offering short-term prediction markets for crypto prices.
Most investors who participate in those markets will lose their money.
The prices of the underlying coins may become more volatile as well.
Prediction markets that offer the ability to make ultra-short-term bets on whether the price of cryptocurrencies will rise or fall are more popular than ever, and more players are crowding into the arena to get a slice of the bettors' money. On Oct. 6, Coinbase Global (NASDAQ: COIN) started offering prediction contracts regarding whether Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and eight other major cryptocurrencies will rise or fall during 15-minute intervals. Kalshi, a federally regulated prediction market, is responsible for supplying the infrastructure for the contracts.
Financial Times reporting showed that five- to 15-minute contracts made up more than half of crypto betting on Kalshi and Polymarket as of March 2026. Here's what I predict will happen next.
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Fees are high, and success rates are low
I predict that most 15-minute market bettors will lose money, while the platforms will rake in plenty of fees. Once that process kicks off, I predict that financial regulators will then proceed to tighten the rules.
During any 15-minute interval, Bitcoin's price -- along with the prices of all the crypto majors -- exhibits a pattern of random fluctuation that results from a combination of factors. These include the order flow on exchanges, headlines, and an abundance of algorithmic trading.
Ordinary bettors, like day traders, have no edge over 15 minutes, while fast automated firms do. It's a foolhardy endeavor, but that won't stop people from futilely trying their luck. The platforms capture fees whether or not that luck delivers a return.
For instance, Kalshi's fee schedule charges the people accepting another person's posted price for a contract at a rate of 3.5% of the stake. So that means someone needs to be right more than half of the time just to break even -- and remember, being right even once is hard enough.
Bettors also face faster opponents. In an Oct. 1 report, Galaxy Research found that, across all market types, 69% of 2.9 million Polymarket accounts that appear to be run by people finished the study period at a loss, losing $338.9 million of their hard-earned cash combined, while 125,429 automated accounts gained $246.8 million.
In many cases, the house plays the game too. Kalshi owns a market maker called Kalshi Trading, which takes the other sides of some of its customers' bets, Bloomberg reported in December 2025. A proposed class action filed in November 2025 alleges that it sets prices that disadvantage customers, which Kalshi denies.
Should investors use 15-minute markets, even as a hedge?
If you are a serious investor focused on building wealth over the long term, there are no conditions under which you need to be spending your money on prediction market contracts for the price action of cryptocurrency during any 15-minute period. It isn't useful as a hedge, nor as a way of trying to generate returns directly.
A hedge is a position that pays off if your main holding falls. If you hold a lot of Bitcoin or Ethereum and the price falls during the course of 15 minutes, waiting another 15 minutes may well erase all of the damage and more. Buying short-term prediction contracts as a hedge against that decline means ponying up the fees over and over again. It's also far too much hands-on time for investments that should fundamentally be left to cook on their own over the long term.
The final part of my prediction, an increase in regulatory presence in prediction markets, is already happening.
On Sept. 25, a federal appeals court ruled that Ohio and Tennessee can regulate these contracts under their gambling laws, a ruling that splits from another appeals court and could draw Supreme Court review. The Commodity Futures Trading Commission (CFTC) also proposed conflict-of-interest rules for exchanges and affiliated market makers in late July.
If the Supreme Court takes up these cases in the next few quarters and sides with the states trying to tamp down prediction markets, expect the 15-minute markets to shrink across much of the U.S. No matter what happens, don't try participating in those markets yourself.
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15-Minute Markets For Cryptocurrency Prices Are Surging in Popularity. It's Easy to Predict What Happens Next.

The S&P 500 Index ($SPX) (SPY) closed down by -1.11% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.02%. December E-mini S&P futures (ESZ26) fell -1.16%, and December E-mini Nasdaq futures (NQZ26) fell -2.10%.
Stock indexes sold off sharply on Wednesday, with the S&P 500 falling to a 1.5-week low and the Nasdaq 100 dropping to a 3.5-week low. Inflation woes dampened market sentiment and sparked stock liquidation on Wednesday after US September consumer prices rose more than expected, reinforcing speculation that the Fed will keep interest rates higher for longer amid sticky price pressures. The chance of a 25 bp Fed rate hike at this month’s FOMC meeting rose to 37% from 22% before the CPI report. Also, the rout in chipmakers continued Wednesday, weighing on the overall market.
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Wednesday’s broader market slump sparked defensive buying of health care and pharmaceutical stocks, limiting losses in the Dow Jones industrials.
US Sep CPI rose +3.7% y/y, stronger than expectations of +3.6% y/y. Sep core CPI rose +2.6% y/y, stronger than expectations of 2.5% y/y.
The Fed Beige Book was hawkish, noting that a majority of the twelve Fed districts in the six weeks through October 5 reported economic growth, and half saw robust or intensifying price pressures.
Stocks and bonds garnered some support Wednesday on comments from Fed Vice Chair Michelle Bowman, who signaled she favors keeping Fed policy steady at this month's FOMC meeting when she said, "We have some time to wait and see how financial conditions and the economy evolve before we decide that we need to take any more action" on interest rates.
US MBA mortgage applications fell -2.7% in the week ended October 9, with the purchase mortgage sub-index down -4.0% and the refinancing mortgage sub-index down -0.4%. The average 30-year fixed-rate mortgage rose +1 bp to a 2.75-year high of 7.50% from 7.49% the prior week.
China's trade news was better than expected, supporting global growth prospects. China's Sep exports rose +36.3% y/y, stronger than expectations of +25.7% y/y and the most in 7 months. Sep imports rose +31.0% y/y, stronger than expectations of +25.0% y/y.
Stocks have support from the prospect of solid quarterly earnings results starting this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%.
Nov WTI crude oil prices (CLX26) closed up more than +1% on Wednesday as Yemen's Houthi rebels launched multiple drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East.
Markets are discounting a 37% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed up +0.38%. China's Shanghai Composite closed down -0.89%. Japan's Nikkei-225 Stock Average closed down -0.05%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +4.5 ticks on Wednesday. The 10-year T-note yield fell -2.5 bp to 5.183%. T-note prices recovered from early losses on Wednesday and settled higher as a slump in equity markets fueled short-covering in T-notes. Also, dovish comments on Wednesday from Fed Vice Chair Bowman were bullish for T-notes when said she sees no urgent need for the Fed to raise interest rates.
T-notes initially retreated on Wednesday on the stronger-than-expected US Sep CPI report, which boosted the chance of a Fed rate hike later this month to 37% from 22% before the report. Also, Wednesday’s +1% increase in WTI crude oil has raised inflation expectations and is bearish for T-notes. In addition, the Fed Beige Book was negative for T-notes, noting intensifying price pressures in more than half of the Fed’s districts.
European government bond yields moved lower on Wednesday. The 10-year German bund yield fell -0.3 bp to 3.466%. The 10-year UK gilt yield fell -2.3 bp to 5.424%.
The German Sep wholesale price index rose +8.7% y/y from +6.8% y/y in Aug, the strongest pace of increase in nearly 3.5 years.
Markets are discounting a 12% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks sold off Wednesday, weighing on the overall market. The iShares Semiconductor ETF (SOXX) fell to a 3.5-week low and closed down more than -4%. CoreWeave closed down more than -15% to lead losers in the Nasdaq 100, and Lumentum Holdings (LITE) closed down more than -8%. Also, Marvell Technology (MRVL) closed down more than -7%, and ARM Holdings Plc (ARM) closed down more than -6%. In addition, Advanced Micro Devices (AMD) and SanDisk (SNDK) closed down more than -5%, and Lam Research (LRCX), Seagate Technology Holdings Plc (STX), Microchip Technology (MCHP), Intel (INTC), and Western Digital (WDC) closed down more than -4%.
The Magnificent Seven technology stocks fell on Wednesday, weighing on the broader market. Nvidia (NVDA) and Meta Platforms (META) closed down more than -3%, and Tesla (TSLA) closed down more than -2%. Also, Alphabet (GOOGL), Amazon.com (AMZN), and Microsoft (MSFT) closed down more than -1%. Bucking the trend, Apple (AAPL) closed up +0.50%.
Cybersecurity stocks weakened on Wednesday, weighing on the overall market. Cloudflare (NET) and Okta (OKTA) closed down more than -6%, and Palo Alto Networks (PANW) closed down more than -5%. Also, Crowdstrike Holdings (CRWD) and SentinelOne (S) closed down more than -4%, and Fortinet (FTNT) and Zscaler (ZS) closed down more than -3%.
Cryptocurrency-exposed stocks fell on Wednesday after Bitcoin (^BTCUSD) fell more than -1%. Iren Ltd (IREN) closed down more than -12%, and MARA Holdings (MARA) and Riot Platforms (RIOT) closed down more than -9%. Also, Galaxy Digital Holdings (GLXY) and Robinhood Markets (HOOD) closed down more than -8%, and Circle Internet Group (CRCL), BitMine Immersion Technologies (BMNR), and Strategy (MSTR) closed down more than -5%. On addition, Coinbase Global (COIN) and Bullish (BLSH) closed down more than -4%.
Health insurance stocks moved higher on Wednesday as a defensive play amid the broader market rout. UnitedHealth Group (UNH) closed up more than +4% to lead gainers in the S&P 500 and Dow Jones Industrials. Also, CVS Health Corp (CVS), Cardinal Health (CAH), and United Health Services (UHS) closed up more than +3%, and HCA Healthcare (HCA) and the Cigna Group (CI) closed up more than +2%. In addition, Centene (CNC) and Humana (HUM) closed up more than +1%.
Defensive pharmaceutical stocks rallied on Wednesday amid the broader market slump. Amgen (AMGN), Eli Lilly (LLY), Gilead Sciences (GILD), Merck & Co (MRK), Pfizer (PFE), and Regeneron Pharmaceuticals (REGN) closed up more than +3%, and Vertex Pharmaceuticals (VRTX) closed up more than +2%.
Dell Technologies (DELL) closed down more than -11% to lead losers in the S&P 500 , Hewlett Packard Enterprise (HPE) closed down more than -8%, and NetApp (NTAP) closed down more than -6% after Barclays downgraded the stocks to equal weight from overweight.
Bank of America (BAC) closed down more than -4% after reporting Q3 equities trading revenue ex-DVA of $2.51 billion, weaker than the consensus of $2.63 billion.
State Street (STT) closed down more than -3% after reporting Q3 revenue of $4.00 billion, weaker than the consensus of $4.04 billion.
Progressive (PGR) closed down more than -3% after reporting Q3 net premiums written of $22.30 billion, below the consensus of $22.50 billion.
Liquidia (LQDA) closed up more than +27% after reaching a global settlement resolving all pending litigation with United Therapeutics.
Earnings Reports (10/15/2026)
Alcoa Corp (AA), Bank of New York Mellon Corp/The (BNY), Charles Schwab Corp/The (SCHW), First Horizon Corp (FHN), Interactive Brokers Group Inc (IBKR), JB Hunt Transport Services Inc (JBHT), Marsh & McLennan Cos Inc (MRSH), PNC Financial Services Group Inc (PNC), Prologis Inc (PLD), US Bancorp (USB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Sharply Lower on Inflation Woes and Slumping Chipmakers

Key Points
Hyperliquid's skyrocketing price is the result of its market-leading position in perpetual futures trading.
However, as a result of recent regulatory changes, new competitors are now entering the market.
Regulatory issues continue to swirl around Hyperliquid, especially given the failure of the Clarity Act.
On Sept. 23, Hyperliquid (CRYPTO: HYPE) hit a new all-time high of $97.98. At the time, it looked like Hyperliquid would easily blow past the $100 mark by the end of Q3.
Instead, Hyperliquid fell by 17% and now trades at just $81. That raises an interesting question for crypto investors: Should they buy the dip, or should they look elsewhere for upside?
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Buy the dip
Hyperliquid has been one of the true breakout cryptocurrencies of the year. The HYPE token is up more than 235% year to date. Since its launch back in November 2024, HYPE is up a staggering 2,440%.
Hyperliquid has become the place to go to trade perpetual futures ("perps"). By some accounts, Hyperliquid accounts for 60% or more of all perpetual futures trading on decentralized exchanges. No other decentralized exchange even comes close.
That market dominance helps explain Hyperliquid's meteoric ascent and why investment firms are now rushing to launch new spot Hyperliquid ETFs. In fact, the ascent has been so rapid that it has even attracted the attention of President Trump, who is now encouraging Hyperliquid (based in Singapore) to set up shop in the United States.
And there's another intriguing angle to Hyperliquid. The decentralized exchange uses trading revenue to buy back its token daily. This works similarly to a stock buyback program. Theoretically, this helps to keep a floor under the price of the HYPE token.
Look elsewhere
So far, so good, right? Hyperliquid is the market leader in a rapidly growing niche of the crypto market. It has the support of the Trump administration. And it has a token buyback mechanism to prop up its price.
However, momentum for Hyperliquid is cooling fast. Over the past 90 days, Hyperliquid is up "only" 19%. That's worse than the performance of market bellwether Bitcoin, which is up 28% over that same period. Investors are taking on much more risk by investing in Hyperliquid and not seeing a commensurate reward.
This cooling momentum is not a coincidence. It's the result of two events that took place during the summer.
The first was the CFTC's decision to greenlight perpetual futures trading in the United States. Several market participants -- including Kalshi, Coinbase Global, and Robinhood Markets -- immediately jumped in, and it now looks like Hyperliquid will face a much more competitive market going forward.
The second was the Clarity Act's failure to pass the Senate. This immediately calls into question recent pro-crypto moves by the Trump administration, especially with midterm elections looming. Most notably, there has been pushback over U.S. regulators giving the green light to perpetual futures trading, and concerns have been voiced over Hyperliquid's offshore status.
As a result, I'm looking elsewhere for upside in 2026. Until the legal and regulatory clouds around Hyperliquid dissipate, I'm not going to believe the hype about HYPE.
Should you buy stock in Hyperliquid right now?
Before you buy stock in Hyperliquid, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Hyperliquid wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,986!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,404,152!*
Now, it’s worth noting Stock Advisor’s total average return is 948% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 14, 2026.
Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and Hyperliquid. The Motley Fool recommends Coinbase Global and Robinhood Markets. The Motley Fool has a disclosure policy.

Hyperliquid Just Fell 17% From Its All-Time High. Here's Why I'm Not Buying the Dip.

Fintel reports that on October 2, 2026, Wells Fargo initiated coverage of Coinbase Global (NASDAQGS:COIN) (SWX:COIN) with a Equal-Weight recommendation.
Coinbase Global, Inc. is a prominent financial platform based in the United States, primarily engaged in the business of digital currency exchange. Founded in 2012, the company offers a secure online platform for buying, selling, transferring, and storing digital currency.
On October 2, 2026, the latest close for the stock was $183.00, following a pre-action close of $189.29 on October 1, 2026. The stock experienced a price change of -6.21% over one week, relative to a baseline close of $195.11 on September 25, 2026. Over a one-month period, the price change was +4.60% from a baseline close of $174.96 on September 2, 2026.
Coinbase Global last reported earnings on July 30, 2026, with an actual EPS of -1.17 compared to the estimated EPS of -0.1735. The actual revenue for that period was $1,220,068,000.00, which was below the estimated revenue of $1,337,471,491.00. The company's upcoming earnings date is scheduled for October 29, 2026, during the after market close session.
Separate from Wells Fargo's individual rating, the current consensus target mean for the stock was $214.57 as of September 14, 2026, representing an implied change of +17.25%. The current consensus target median was $207.06 as of the same date. This is an increase from the prior consensus target mean of $208.57 recorded on August 28, 2026, reflecting a consensus target revision of +2.88%.
For the current recommendation period of September 1, 2026, the total number of recommendations was 45, consisting of 11 strong buy, 21 buy, 10 hold, 1 sell, and 2 strong sell ratings. This represents 71.1% positive, 22.2% hold, and 6.7% negative recommendations. In the prior period of August 1, 2026, there were 44 total recommendations, with 11 strong buy, 20 buy, 10 hold, 1 sell, and 2 strong sell ratings.
On the same day as the Wells Fargo initiation, October 2, 2026, Piper Sandler maintained its Neutral rating on the stock. Other recent rating actions include Keefe, Bruyette & Woods reiterating an Outperform rating on September 28, 2026, and Baird maintaining a Neutral rating on September 28, 2026. BTIG reiterated a Buy rating on September 16, 2026. Compass Point upgraded the stock from Sell to Neutral on September 14, 2026, and Morgan Stanley initiated coverage with an Equal-Weight rating on September 10, 2026.
Recent analyst actions
Recent analyst upgrades, downgrades, initiations, and maintained ratings
Date
Analyst
Prior
Latest recommendation
Action
October 2, 2026
Wells Fargo
Equal-Weight
initiated coverage
October 2, 2026
Piper Sandler
Neutral
Neutral
maintained
September 28, 2026
Keefe, Bruyette & Woods
Outperform
reiterated
September 28, 2026
Baird
Neutral
Neutral
maintained
September 16, 2026
BTIG
Buy
Buy
reiterated
September 14, 2026
Compass Point
Sell
Neutral
upgrade
September 10, 2026
Morgan Stanley
Equal-Weight
initiated coverage
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.

Wells Fargo Initiates Coverage of Coinbase Global at Equal-Weight

In line with its broader digital-payments push, Citigroup Inc. C is expanding its collaboration with Coinbase Global COIN to deepen its role in stablecoin-based payments. Building on their October 2025 partnership, the expanded tie-up links COIN’s digital-asset infrastructure with C’s virtual-account, payment and fiat-settlement capabilities.
As part of the collaboration, C will support Coinbase Virtual Accounts through Citigroup Services’ Virtual Account Wallet, which forms part of its broader Banking-as-a-Service offering. The service will allow customers to accept, hold and pay funds while automatically converting incoming fiat into stablecoins. C will also enable institutional clients to accept stablecoin payments through Spring by Citi. Under this arrangement, Coinbase Payments will convert stablecoin payments into fiat, while C will receive and settle the funds as the bank of record. This structure allows merchants to accept stablecoin payments without directly holding or managing digital assets and could help them reach more than 150 million stablecoin holders globally.
The expanded Coinbase relationship adds to C’s broader digital-payments infrastructure and growing reach across payment channels. The bank has strengthened this platform through Citi Token Services, which was integrated with 24/7 USD Clearing in 2025 to support cross-border payments and liquidity management. Earlier partnerships with Mastercard and Dandelion have also broadened WorldLink’s reach across debit cards and digital wallets. Together, these initiatives expand C’s payments reach, with management reporting nearly $6 trillion in daily payment volume as of May 2026.
Against this backdrop, the expanded Coinbase relationship gives C another avenue to extend its payments capabilities into the growing stablecoin ecosystem. By combining C’s regulated banking, fiat-conversion and settlement capabilities with Coinbase’s digital-asset infrastructure, the offering allows businesses to accept blockchain-based payments without directly holding or managing digital assets. With C already banking 90% of the top e-commerce companies and 15 of the world’s 20 largest fintechs, its existing institutional relationships could provide a sizable distribution base for the new services.
The tie-up could help C capture growth in stablecoin payments, supporting transaction and fee revenues as adoption increases. However, the financial impact will depend on adoption, payment volumes and C’s ability to monetize the flows.
What Steps Are Other Banks Taking Toward Stablecoin Adoption?
Citigroup is not the only financial institution expanding its stablecoin capabilities. In June 2026, The Bank of New York Mellon BNY announced an expanded relationship with Circle Internet Group CRCL to strengthen its institutional stablecoin services.
BNY made USDC the first stablecoin supported on its Digital Asset Custody platform, allowing institutional clients to hold, transfer, mint and redeem USDC. Clients can also convert U.S. dollars into USDC and redeem USDC for dollars through BNY’s custody framework. BNY plans to gradually support additional stablecoin issuers and broader digital cash use cases, expanding its digital-asset capabilities for institutional clients.
C’s Price Performance & Zacks Rank
Over the past six months, shares of Citigroup have gained 22.4% compared with the industry’s growth of 19.5%.
Citigroup currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BNY (BNY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).

Citigroup Deepens Stablecoin Push With Expanded Coinbase Tie-Up

Key Points
The SEC is temporarily allowing some crypto companies to offer trading of tokenized stocks.
Coinbase and Robinhood are both looking to grow their revenue by promoting tokenized stock trading.
There are still a few regulatory issues for those players to navigate before they can make significant money from their U.S. operations.
On Sept. 17, the Securities and Exchange Commission (SEC) granted a five-year exemption to the crypto industry that allows certain exchanges to offer tokenized versions of stocks for trading. Robinhood Markets (NASDAQ: HOOD) and Coinbase Global (NASDAQ: COIN) are both well-positioned to profit, but one has a big lead on the other.
Let's see what the stakes of the competition are, and then get into how these two players are planning to win this emerging space.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Tokenization is still in its infancy
Tokenization is the process of adding ownership records to tokens stored on a blockchain. This is useful because it means that the assets can be traded 24/7 and generally settle transactions very rapidly compared to the alternatives.
The consulting firm Oliver Wyman recently estimated that the market for tokenized traditional assets will expand from around $40 billion today to reach approximately $2.3 trillion by 2030. As of Sept. 28, all the tradeable tokenized stocks in existence were worth $3.2 billion, up from $368.5 million one year ago.
Many major blockchains have the technical infrastructure necessary to support tokenization, including Coinbase's Base chain and Robinhood's Robinhood Chain.
Aside from the technical features needed, tokenizing assets usually entails a large paperwork burden to address issues like regulatory compliance and asset custody. That means smaller crypto native players are often at a disadvantage relative to larger businesses that are more established in the traditional financial sector, as those businesses are more accustomed to working in a highly regulated environment.
Which company will gain more from tokenized stock trading?
Both Robinhood and Coinbase compete in crypto. Robinhood's main line of business stems from its retail brokerage for trading non-tokenized stocks, which gives it a head start here.
Its set of 301 tokenized stocks was worth $148.8 million as of Sept. 28. Robinhood issues the tokenized assets on its own blockchain, Robinhood Chain, which was launched in July 2026. Importantly, the company retains about 89% of the crypto transaction fees it collects, which accrue to its revenue. Those fees were worth $35.6 million in the first 28 days of September alone.
Its stock tokens are debt securities that carry no voting rights, which some believe may make them fall outside the SEC's new framework. Robinhood's CEO, Vlad Tenev, has said that the ability to perform redemptions and exercise voting rights is coming.
Coinbase's product, on the other hand, presently fits the new rules more closely. That could end up giving it a first-mover advantage if there's a delay with Robinhood getting its ducks in a row.
Its $8.4 million worth of stock tokens are launched on its own blockchain, Base, and they've been available since August 2026 for its non-U.S. customers. They're also backed by real shares, held at a regulated U.S. broker, and already redeemable for the underlying shares. According to Coinbase's CEO Brian Armstrong, shareholder voting rights are coming soon.
One snag for Coinbase is its plumbing. Its exchange uses an order book much like a traditional stock exchange, but the SEC framework is built around a different system for matching buyers and sellers, specifically automated market makers (AMMs). Coinbase would need new systems, or it would have to route trades to AMM-based apps on Base. Base's fees are also quite modest, totaling just $4.3 million for September through the 28th.
Today, Robinhood still looks like the better choice to buy to get upside from tokenization.
Though it has a couple of obstacles to navigate to please the SEC, it already has a larger pool of tokenized stocks, and a chain that has earned far more in fees, mostly from meme coin trading. Coinbase, in contrast, seems to be signaling about its desire to compete in tokenized assets much more than it is currently actually doing. With that being said, it'll likely be able to navigate the regulatory issues needed to also benefit tremendously from tokenization, so it might not be behind Robinhood for long.
Should you buy stock in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Robinhood Markets wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
Now, it’s worth noting Stock Advisor’s total average return is 937% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 29, 2026.
Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.

The SEC Has Given the Green Light to Tokenized Stock Trading. These 2 Crypto Stocks Will Be the Big Winners.

Key Points
Up more than 250% in 2026, Hyperliquid is now the top-performing major cryptocurrency of the year.
If Hyperliquid continues to grow at the same rate, investors could turn $1,000 into $1 million within the next decade.
Hyperliquid is highly unlikely to maintain its current stratospheric growth rate, especially with the arrival of new competitors.
It's getting harder and harder to ignore the magnificent recent performance of Hyperliquid (CRYPTO: HYPE). For the year, Hyperliquid is up an eye-popping 284% and recently hit a new all-time high of $95. That makes Hyperliquid the top-performing major cryptocurrency of 2026.
At this pace, Hyperliquid certainly seems like the type of altcoin that could make you a millionaire. But is that really the case?
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Catalysts for Hyperliquid
The case for buying Hyperliquid right now comes down to a single word: "perps." This is crypto shorthand for perpetual futures, which are futures contracts with no set expiration date. This makes them extremely useful for speculating on cryptocurrency futures prices, often by taking on massive leverage.
Right now, Hyperliquid is the top decentralized exchange for trading perps, and that's why it's soaring in value. Total worldwide trading volume in perps is close to $200 billion daily. By some estimates, Hyperliquid accounts for 70% of all worldwide perps trading on decentralized exchanges, and roughly 6% of the total global market. So you can see why investors are so excited about Hyperliquid right now. The numbers really jump off the page.
As part of President Donald Trump's vision for making America the "crypto capital of the world," he now wants Hyperliquid, which is currently based in Singapore, to come to the U.S. Already, there are plans afoot to offer perps trading on Hyperliquid via a derivatives exchange owned by Payward, the parent company of the Kraken cryptocurrency exchange.
Millionaire-maker math
So, for the sake of argument, let's say that you invest $1,000 in Hyperliquid today. If Hyperliquid continues to triple in value every year -- a big if -- then you could turn that into $1 million within the next decade.
Theoretically, then, millionaire-maker status is very much in the cards. But just how likely is it? After all, does anyone really expect Hyperliquid to triple in value every year for the next decade? That's preposterous.
After all, new competitors are now rapidly entering the perps arena. Chief among them are Coinbase Global and Robinhood Markets. Competitors also include prediction markets such as Kalshi and Polymarket. In fact, Kalshi already offers perps markets in more than a dozen different cryptocurrencies, including Hyperliquid.
How to get exposure to Hyperliquid?
While U.S. investors are currently restricted from using the Hyperliquid trading platform, they can still buy the HYPE token directly on major cryptocurrency exchanges. Or, they could just as easily buy one of the new spot Hyperliquid ETFs, such as the Bitwise Hyperliquid ETF, which launched in May.
Just be aware of the risks surrounding Hyperliquid. There are plenty of competitors just waiting to join the perps game. Moreover, Hyperliquid still operates in a regulatory gray area, given that comprehensive crypto legislation (the Clarity Act) has now stalled out in Congress.
But if you're willing to take on these risks, then Hyperliquid could become your ticket to becoming a millionaire.
Should you buy stock in Hyperliquid right now?
Before you buy stock in Hyperliquid, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Hyperliquid wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
Now, it’s worth noting Stock Advisor’s total average return is 937% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 27, 2026.
Dominic Basulto has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hyperliquid. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

How Investing in This Altcoin Could Make You a Millionaire

Key Points
Bitcoin has been growing at a 34% annual clip over the past decade, and could be worth $7 trillion after five years.
Fast-growing cryptocurrencies with the potential to overtake Bitcoin include Hyperliquid, Zcash, NEAR Protocol, and Venice.
However, investors need to count on stratospherically high rates of growth continuing for five consecutive years, which is highly unlikely.
Since its launch in 2009, Bitcoin (CRYPTO: BTC) has reigned supreme as the world's top cryptocurrency. It now has a market cap of $1.7 trillion, nearly 5 times that of Ethereum (CRYPTO: ETH), its next closest competitor.
Given this yawning gap in size, is it really possible that any cryptocurrency might surpass Bitcoin in market cap within the next five years? After running the numbers, you might be surprised at the answer.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Does the math work?
Bitcoin has grown at a compound annual growth rate (CAGR) of 34% over the past decade. So, for the sake of argument, let's assume that Bitcoin continues to grow at a 34% clip over the next five years.
By the end of that period, Bitcoin will be worth more than $7 trillion, and a single Bitcoin will sell for roughly $350,000. That might sound like pie-in-the-sky thinking, but Coinbase Global CEO Brian Armstrong thinks Bitcoin might actually trade as high as $400,000 by the end of 2030.
For our purposes, the number to beat is $7 trillion. At the end of five years, a rival cryptocurrency needs to be worth more than $7 trillion to surpass Bitcoin.
That's a big ask, so let's focus on cryptocurrencies with market caps exceeding $5 billion. Several of these have been surging this year, and these large-cap coins are the most likely candidates to de-throne Bitcoin, provided they can maintain their blistering growth rates for five years.
For example, Zcash (CRYPTO: ZEC), with a market cap of $26 billion, is up 195% year to date. NEAR Protocol (CRYPTO: NEAR), with a market cap of $6 billion, is up 203%. And Hyperliquid (CRYPTO: HYPE), with a market cap of $23 billion, is up 267%.
Let's assume that all three of these continue to grow at the same stratospherically high rates over the next five years. At the end of that period, only Hyperliquid would be worth more than $7 trillion. Zcash just isn't growing fast enough, and NEAR Protocol is starting from a smaller market-cap base.
Let's widen our net even further to include cryptocurrencies with market caps of $1.5 billion and higher. Venice (CRYPTO: VVV), an AI token, is up a heart-thumping 1,760% this year. Theoretically, it could catch up to Bitcoin after five years, given Bitcoin's exponential growth rate.
Just how realistic are these projections?
Of course, it's unreasonable to expect any cryptocurrency to grow at such fantastically high rates for five consecutive years. Cryptocurrencies are notoriously volatile, and investor sentiment can change on a dime. Even Bitcoin has had a hard time stringing together three good years in a row, let alone five.
That's why I'm less bullish on Zcash and NEAR Protocol than many other investors. Zcash has been around for more than a decade, and is still trading 74% below its all-time high from 2016. The same is true for NEAR Protocol, which is down 77% from its all-time high in 2022.
I'm starting to believe the hype, but Hyperliquid is just too new to trust fully. The HYPE token launched at the end of 2024 and hasn't shown the resilience investors have seen in Bitcoin, which has successfully weathered many economic cycles.
I'm more bullish on Venice. For one, it's an AI token so that it will benefit from the exploding investor interest in artificial intelligence. This is a big macro trend with long-term staying power. If you buy into the growing convergence of AI and crypto, then Venice might have a very bright future ahead.
At the end of the day, if you're looking for a crypto to flip Bitcoin, your best chances are with a high-flying crypto currently growing at a much faster pace than Bitcoin. That's why I'm focused on Hyperliquid and Venice as potential investment targets.
That said, plenty of cryptocurrency rivals have tried to challenge Bitcoin over the past 17 years, and every single one has failed. So keep expectations in check.
Should you buy stock in Venice Token right now?
Before you buy stock in Venice Token, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Venice Token wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
Now, it’s worth noting Stock Advisor’s total average return is 937% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 27, 2026.
Dominic Basulto has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Hyperliquid, NEAR Protocol, and Venice Token. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.

Coinbase Global, Inc.

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