Cardano price used to have better days in the past, while it currently struggles to stay above $1. Nevertheless, its 2018 and 2021 runs were both impressive, granting investors 50-100x returns. Is there a chance for a third run? Always. How big though – that is a key question. Follow along and find out what technical analysis says. Is $5-8 realistic? With fully diluted valuation (FDV) of $30 billion, total supply of 45 billion tokens and current tokens in circulation of 36 billion, such an increase would ...

Financial Data and Key Metrics Changes - Consolidated revenue increased by 11% to $6.4 billion, with underlying growth of 4% [12][15] - Adjusted operating income rose by 13% year-over-year, with adjusted EPS growing by 11% to $1.85 [5][13] - Adjusted operating margin increased by 30 basis points to 22.7% [15][24] Business Line Data and Key Metrics Changes - Risk and insurance services revenue was $3.9 billion, up 13% year-over-year, with underlying growth of 3% [15][16] - Consulting segment revenue increased by 9% to $2.5 billion, with underlying growth of 5% [17][19] - Marsh's revenue grew by 16% to $3.4 billion, with underlying growth of 4% [16][17] Market Data and Key Metrics Changes - Global commercial insurance rates decreased by 4% in Q3, with property rates down 8% year-over-year [10][11] - U.S. rates were down by 1%, while Canada saw a 3% decline [10] - Global casualty rates increased by 3%, with U.S. excess casualty up 16% [11] Company Strategy and Development Direction - The company will rebrand from Marsh & McLennan Companies to Marsh in January, aiming to enhance visibility and strengthen its value proposition [5][6] - The Thrive program aims to generate approximately $400 million in savings over three years, with a focus on automation and efficiency [6][21] - The company is investing in AI and technology to improve client service and operational efficiency [7][22] Management's Comments on Operating Environment and Future Outlook - Management anticipates mid-single-digit underlying revenue growth for 2025, despite economic uncertainties [13][25] - The company is confident in its ability to navigate different economic cycles and pricing pressures [30][44] - Management noted that the current economic environment is uneven, impacting client behavior and growth [62] Other Important Information - The company repurchased $400 million of its stock in the quarter [13][24] - Total debt at the end of the quarter was $19.6 billion, with a cash position of $2.5 billion [24] Q&A Session Summary Question: Impact of government shutdown on growth outlook - Management acknowledged potential pressures from the macro environment but remains confident in their growth strategy and execution [30] Question: Details on the new wholesale business - The company is not looking to build a third-party wholesale business but will develop internal capabilities where necessary [33] Question: Thrive program cost and savings ratio - Management highlighted a favorable cost-to-savings ratio and expressed confidence in achieving the projected savings [37][39] Question: Organic growth expectations in the U.S. - Management indicated that organic growth in the U.S. may remain stable despite economic uncertainties [42][44] Question: Performance of Oliver Wyman amid economic uncertainty - Management expressed satisfaction with Oliver Wyman's growth and noted strong demand for their services [47][50] Question: M&A environment in insurance brokerage - Management confirmed ongoing appetite for M&A and noted a potential widening of bid-ask spreads in the current market [77][79]

Financial Data and Key Metrics Changes - Consolidated revenue increased by 11% to $6.4 billion, with underlying growth of 4% despite headwinds from fiduciary interest income [11][14] - Adjusted operating income rose by 13% year-over-year, with an adjusted operating margin increase of 30 basis points to 22.7% [14][23] - Adjusted EPS grew by 11% to $1.85, while GAAP EPS was reported at $1.51 [14][23] Business Line Data and Key Metrics Changes - Risk and insurance services revenue was $3.9 billion, up 13% year-over-year, with underlying growth of 3% [14][15] - Marsh's revenue increased by 16% to $3.4 billion, with 4% underlying growth [15][16] - Consulting segment revenue was $2.5 billion, up 9% or 5% on an underlying basis [16][17] Market Data and Key Metrics Changes - Global commercial insurance rates decreased by 4% in Q3, with property rates down 8% year-over-year [9][10] - Global casualty rates increased by 3%, with U.S. excess casualty up 16% [10] - Dedicated reinsurance capital is projected to reach approximately $650 billion by year-end 2025 [10] Company Strategy and Development Direction - The company will change its brand to Marsh in January 2026, aiming to enhance visibility and strengthen its value proposition [4][5] - The Thrive program aims to generate approximately $400 million in savings over three years, with a focus on automation and efficiency [5][20] - The company is investing in AI and technology to improve client service and operational efficiency [6][21] Management's Comments on Operating Environment and Future Outlook - Management anticipates mid-single-digit underlying revenue growth for 2025, despite economic uncertainties and pricing pressures [12][24] - The company is confident in its ability to navigate different economic cycles and maintain growth [28][41] - Management noted that the current economic environment is uneven, impacting client behavior and growth rates [41][56] Other Important Information - The company repurchased $400 million of its stock in the quarter and plans to deploy approximately $4.5 billion of capital in 2025 across dividends, acquisitions, and share repurchases [12][23] - Interest expense increased to $237 million from $154 million year-over-year [22][23] Q&A Session Summary Question: Impact of government shutdown on growth outlook - Management acknowledged the potential for low to mid-single-digit growth due to macroeconomic pressures but expressed confidence in their positioning and execution [28] Question: Details on the new wholesale business - The company clarified that it is not looking to build a third-party wholesale business but will develop internal capabilities where necessary [30][32] Question: Thrive program cost and savings ratio - Management highlighted a favorable cost-to-savings ratio for the Thrive program and expressed confidence in achieving the projected savings [34][36] Question: Organic growth expectations in the U.S. - Management indicated that organic growth in the U.S. is expected to remain stable despite economic uncertainties [40][41] Question: Oliver Wyman's growth amid economic uncertainty - Management reported strong growth at Oliver Wyman and expressed optimism about the demand pipeline despite a complex operating environment [44][46] Question: International pricing sensitivity - Management noted that pricing dynamics vary by geography, with a competitive market impacting overall rates [59][60] Question: M&A environment and appetite for larger deals - Management confirmed ongoing interest in M&A, focusing on cultural fit and strategic alignment rather than just size [69][70]

🚨 🚨 67,540,581 #ADA (46,273,882 USD) transferred from #Coinbase to unknown wallethttps://t.co/TIX50AsdSy ...

🚨 🚨 🚨 76,300,000 #ADA (51,524,489 USD) transferred from unknown wallet to unknown wallethttps://t.co/aKwChYvtLt ...

Core Insights - The cryptocurrency market experienced its most severe liquidation event in history, with nearly $19.37 billion in liquidations over 24 hours, affecting over 1.6 million traders, predominantly long positions [7][9][10]. Market Impact - Ethereum's price dropped from around $4,700 to below $3,500, while Bitcoin fell from a high of over $126,000 to a low of $105,000 before rebounding above $110,000 [2][6]. - Significant losses were observed in altcoin markets, with tokens like ATOM plummeting from $4 to $0.001, and SUI from $3.4 to $0.56 [5]. Liquidation Details - The largest single liquidation order occurred on Hyperliquid, amounting to $203.36 million, while the platform recorded a total liquidation of $10.31 billion, surpassing competitors like Bybit and Binance [10][11]. - The total liquidation amount was described as being more than ten times the losses seen during the pandemic and FTX collapse periods [8][9]. Trader Outcomes - The top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, indicating a net profit of $951 million concentrated among highly leveraged short sellers [14]. - The largest gain was reported by a trader who made over $700 million through short positions, while the biggest loser, known as "TheWhiteWhale," lost $625,000 [14]. Market Sentiment and Future Outlook - Market participants are concerned about potential further fallout, with expectations of additional fund liquidations or market maker losses in the coming days or weeks [15]. - Analysts suggest that Bitcoin's next major support level is at $100,000, and a drop below this could signify the end of the previous three-year bull market cycle [15].

Core Insights - The cryptocurrency market experienced a significant liquidation event, with nearly $19.37 billion in liquidations over 24 hours, affecting over 1.6 million traders, primarily long positions [6][7][8]. Price Movements - Bitcoin's price fell from a historical high of over $126,000 to a low of $105,000 before rebounding above $110,000 [1]. - Ethereum's price dropped from around $4,700 to below $3,500 [3]. - Various altcoins faced severe declines, with notable drops including ATOM from $4 to $0.001, SUI from $3.4 to $0.56, and LINK from $22 to $8 [5]. Liquidation Details - The largest single liquidation occurred on Hyperliquid, totaling $10.31 billion, while Bybit and Binance recorded $4.65 billion and $2.41 billion, respectively [9]. - The event was described as the largest liquidation in cryptocurrency history, surpassing previous significant liquidation events during the pandemic and the FTX collapse [7][8]. Trader Impact - The top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, resulting in a net profit of $951 million concentrated among highly leveraged short sellers [14]. - A specific trader made over $700 million through short positions, while the largest loser, known as "TheWhiteWhale," lost $625,000 [14]. Market Reactions - The automatic deleveraging mechanism on Hyperliquid has been criticized for exacerbating the sell-off, leading to premature liquidation of complex positions [12]. - Market participants are concerned about potential further fallout, with expectations of hearing about additional fund liquidations in the coming days or weeks [15][16].

Core Insights - The cryptocurrency market experienced a significant liquidation event, with nearly $19.37 billion in liquidations occurring within 24 hours, marking one of the largest liquidation events in cryptocurrency history [6][8][10]. Price Movements - Bitcoin's price fluctuated from a historical high of over $126,000 to a low of $105,000, before rebounding above $110,000 [1]. - Ethereum's price dropped from around $4,700 to below $3,500 [3]. - Various altcoins faced severe declines, with notable drops including ATOM from $4 to $0.001, SUI from $3.4 to $0.56, and LINK from $22 to $8 [5]. Liquidation Details - Over 1.6 million traders were liquidated, predominantly from long positions, with a total liquidation value of nearly $20 billion [6][10]. - Hyperliquid, a relatively new perpetual contract exchange, recorded the highest liquidation amount at $10.31 billion, significantly surpassing competitors like Bybit and Binance [10][11]. Market Reactions - The liquidation event led to substantial losses for many traders, with the top 100 traders on Hyperliquid collectively earning $1.69 billion, while the top 100 losers lost $743 million [16]. - The largest gain was reported by a trader who shorted the market, making over $700 million, while the largest loss was approximately $625,000 [17]. Future Outlook - Market participants are concerned about potential further declines, with Bitcoin's next major support level identified at $100,000. A drop below this level could signify the end of the bull market cycle seen over the past three years [21]. - The volatility is expected to continue, with analysts suggesting that the impact of this event may take days or weeks to fully manifest [19][22].

Core Insights - The cryptocurrency market experienced its largest liquidation event in history, with nearly $20 billion in forced liquidations affecting over 1.6 million traders, predominantly long positions [1][7][14] - Bitcoin's price fell from a peak of over $126,000 to a low of $105,000 before rebounding above $110,000 [1][14] - The altcoin market suffered significantly, with various cryptocurrencies experiencing drastic price drops [3][4][5] Liquidation Details - The total liquidation amount reached approximately $19.37 billion, significantly surpassing previous liquidation events during the pandemic and the FTX collapse [6][7] - Hyperliquid, a smaller perpetual contract exchange, recorded the highest liquidation amount of $10.31 billion, while competitors like Bybit and Binance had $4.65 billion and $2.41 billion respectively [8][10] - The event was linked to recent tariff comments from former President Trump, which heightened market volatility [7][14] Market Impact - Major cryptocurrencies like Ethereum saw their prices drop from around $4,700 to below $3,500 [4] - The liquidation event led to significant losses for many traders, with over 1,000 wallets on Hyperliquid being completely emptied [10] - Despite the losses, the top 100 traders on Hyperliquid collectively earned $1.69 billion, indicating that some traders profited from the downturn [13] Future Outlook - Market analysts suggest that the full impact of this liquidation event may take days or weeks to manifest, with potential for further fund liquidations and market volatility [14] - The next key support level for Bitcoin is identified at $100,000, with a drop below this level potentially signaling the end of the recent bull market cycle [14]

Crypto Transaction Analysis - 200 million ADA (价值 130.33 million USD) 从未知钱包转移到 Binance 交易所 [1]