Strategy Software chairman Michael Saylor signaled on Sunday that the Bitcoin treasury company intends to buy more BTC in the coming week, while pushing Strategy shareholders to vote on a proxy that could enable semi-monthly dividend payouts on the firm’s STRC perpetual preferred stock. The message arrived with a familiar backdrop: a bubble chart tracking Strategy’s BTC purchases over the past nearly six years, sourced from StrategyTracker.com, and widely shared by Saylor on social media.

According to StrategyTracker, Strategy’s Bitcoin holdings sit at 818,869 coins. At the time of publication, that stash represented a market value of about $67.2 billion, based on a Bitcoin price near $77,997. The ongoing accumulation—paired with a governance push—highlights how Strategy’s treasury strategy remains intertwined with the company’s equity and dividend policy ambitions.

In parallel with the買BTC signal, Strategy’s official channels amplified a proxy vote aimed at changing STRC’s dividend cadence. Retail investors, who own roughly 80% of STRC’s perpetual preferred stock, are being urged to back a measure that would allow semi-monthly rather than strictly monthly payouts. The campaign underscores a broader effort to improve liquidity, market efficiency, and price stability for STRC, in the eyes of its supporters.

The push to mobilize retail holders comes as Strategy’s leadership stresses that the change would benefit ordinary investors—the same group that comprises the majority of STRC ownership. In a Sunday post, Saylor described the upcoming vote as a potential milestone for “Digital Credit,” urging STRC shareholders to participate in the proxy process before the June 8 deadline. “If you are a $STRC shareholder and have not already voted, please take a moment to do it now. Together, we can make history and establish the $100 standard for Digital Credit,” he wrote.

Strategy’s social feeds echoed the retail emphasis, noting that 80% of STRC is held by retail investors and framing the amendment as a retail-focused measure. The company has also scheduled a live Q&A session with Saylor and STRC CEO Phong Le for May 20 at 5 PM Eastern Time, moderated by Natalie Brunell, host of the Coin Stories podcast. The session will be streamed on YouTube and on Strategy’s X page, with a form available for shareholders to submit questions in advance.

Beyond the immediate proxy vote, the discussion touches on a longer-term question for Strategy’s corporate treasury approach: how much influence a dividend policy change can have on investor engagement, liquidity, and the broader reception of a BTC-backed treasury strategy. A note from The Harvard Law School Forum on Corporate Governance cited by critics and supporters alike shows retail investors historically cast a smaller portion of their voting power—roughly 29% of owned shares—compared with institutional holders, which have voted around 77%. The ongoing STRC campaign, therefore, hinges on whether Strategy can mobilize retail voting power to influence a governance proposal with tangible liquidity and payout implications.

Key takeaways

• Michael Saylor signals further BTC purchases for Strategy in the coming week, continuing a multi-year accumulation path tracked by StrategyTracker.com.
• STRC’s dividend amendment would shift STRC payouts from monthly to semi-monthly, a change Strategy argues would reduce reinvestment lag, improve liquidity, and enhance market efficiency.
• Retail investors own about 80% of STRC, making their proxy votes pivotal for the proposed dividend change; historical retail voting turnout has lagged institutional participation, according to governance research.
• A May 20 live Q&A with Saylor and STRC CEO Phong Le — moderated by Natalie Brunell — aims to address retail questions and drive engagement ahead of the June 8 proxy deadline.
• The developments illuminate how BTC treasury strategies intersect with governance and retail-driven equity actions, and they raise questions about the practical impact on STRC liquidity and Strategy’s BTC treasury management long term.

Strategy’s BTC accumulation and the governance gambit

The Sunday post from Saylor, paired with the StrategyTracker chart, reinforces that Strategy remains actively engaged in expanding its BTC treasury. The tracker has long provided a public ledger of purchases and holdings, effectively offering investors a transparent view of Strategy’s accumulation pattern over years. The latest signal—potential purchases this week—fits within a broader narrative: Strategy uses its BTC holdings not only as a treasury asset but as a strategic axis around which governance and shareholder value discussions revolve.

With 818,869 BTC on its books, Strategy’s treasury carries a weighty value in the market. The current approximate valuation—about $67.2 billion at the cited price—adds an asset base that can influence liquidity and market perception for both Bitcoin and the company’s STRC stock. While the news cycle frequently treats BTC purchases and dividend policy as separate topics, in Strategy’s case they appear interconnected: a larger BTC treasury can support a more ambitious, liquidity-forward strategy for STRC holders and may influence how the market prices the stock and the preferred.

Retail voting dynamics and the anti-friction dividend proposal

The STRC dividend amendment represents a governance mechanism with tangible implications for retail shareholders. By moving to semi-monthly distributions rather than a single monthly cadence, Strategy argues that it would shorten reinvestment lags and improve liquidity. Such an outcome could, in theory, reduce price volatility and align STRC payouts more closely with market dynamics, though it remains to be seen how the market will respond in trading and pricing across the STRC spectrum.

Strategy emphasizes retail ownership as the focal point of the campaign, noting that 80% of STRC is held by retail investors. The proxy vote, therefore, is not merely a corporate governance formality but a potential shift in how STRC markets and distributes value to its holders. However, retail participation in proxy voting has historically lagged. A Harvard Law School Forum on Corporate Governance note highlighted that retail investors globally have tended to vote at far lower rates than institutional holders. This creates a tension: a governance change that could benefit retail holders may depend on their willingness to engage in the proxy process despite historically lower turnout.

To mitigate the participation gap, Strategy has scheduled a live Q&A with Saylor and Le ahead of the vote. The May 20 event will be livestreamed on YouTube and Strategy’s X channel, and shareholders can submit questions in advance. The format underscores a deliberate effort to mobilize retail engagement and address concerns directly from leadership, which could potentially translate into higher turnout on or before the June 8 deadline.

Context, risk, and what to watch next

Placed within the wider crypto market and corporate treasury discourse, Strategy’s plan illustrates a broader trend: companies that build Bitcoin treasuries are increasingly exploring governance levers to optimize shareholder value and liquidity. For investors, several questions loom:

• How much traction will the semi-monthly payout proposal gain among retail holders, given historical voting patterns?
• If the proxy passes, will semi-monthly STRC payouts meaningfully improve liquidity and trading activity, or will other factors weigh more heavily on STRC price dynamics?
• What does continued BTC accumulation mean for Strategy’s capital allocation and ability to fund future strategic moves, including any potential shifts in dividend policy alignment?
• How will the market interpret Strategy’s dual narrative of a growing BTC treasury and a dividend policy adjustment—as a signal of long-term confidence in BTC as a treasury asset or as a governance-driven liquidity optimization?

Analysts and investors will be watching the June 8 proxy vote results closely, alongside any disclosures about actual weekly BTC purchases in the run-up to the vote. The May 20 Q&A session could offer early insights into management’s interpretation of retail feedback and the practical mechanics of implementing semi-monthly distributions if the measure passes.

In the meantime, readers should monitor StrategyTracker’s BTC-tracking updates and Strategy’s official communications for any new signals or voting milestones. These elements—together with the evolving dialogue around BTC-backed treasuries and retail governance—will shape not only Strategy’s trajectory but also the broader narrative around how crypto assets intersect with corporate finance and shareholder rights.

As the proxy vote nears, the most consequential question remains: will retail participation rise enough to catalyze a tangible shift in STRC’s dividend policy and liquidity profile? The answer will reveal whether governance clarity and active dialogue with retail investors can translate into real-market impact for a Bitcoin-centered treasury strategy.

DOGEBALL leads 2026 presale momentum as Poly Truth and Meme Punch compete for investor attention.

Looking for the absolute best opportunities in the web3 space can be overwhelming. The global cryptocurrency market cap is holding strong at $2.74 trillion following a high-leverage liquidation event that swept away $210 million in long positions as Bitcoin briefly corrected to $78,700. 

This near-term volatility shows that retail traders are actively rotating their profits away from over-leveraged mainstream coins to hunt for maximum alpha in early-stage environments. For those who are scanning the market for the top crypto presale to buy now, comparing structural token utility will show them exactly where the life-changing market returns live this season. 

This article breaks down three trending assets capturing global liquidity: DOGEBALL (DOGEBALL), Poly Truth (PTRUE), and Meme Punch (MEPU).

Lock in an allocation during this top crypto presale to buy now at a baseline entry of just $0.0005 before the upcoming timed tier triggers a massive mandatory price surge.

DOGEBALL Details: The top crypto presale to buy now

DOGEBALL is a high-utility crypto ecosystem built on a custom Ethereum Layer 2 blockchain called DOGECHAIN, seamlessly merging fast-paced gaming mechanics with immediate digital global payments. The driving engine behind this utility is the DOGEPAY application, a cross-border crypto-to-fiat offramp allowing users to send crypto while receivers collect fiat money directly into their local bank accounts globally. Supporting 30+ currencies with sub-second finality and zero FX fees, this system eliminates conventional remittance networks and generates continuous organic buy pressure because DOGEBALL tokens are required to settle all ecosystem transaction fees.

Due to unprecedented community success and tremendous early growth, the developers have officially extended the presale, creating a rare second chance to buy at rock-bottom pricing before the token launches publicly. This updated structure features a high-speed timed system across 20 distinct stages, with each window lasting a maximum of seven days before a mandatory price increase takes effect. 

Following a massive burn of 4bn tokens on Monday, 11th May 2026, that eliminated 20% of the presale allocation, over 1000+ participants have rapidly raised $287K+ to secure their early stakes. With these mechanics in place, this has quickly become the top crypto presale to buy now for investors who favor concrete mathematical execution over simple hype.

Act Fast: Secure tokens for an expected 2900% ROI before launch

The financial upside of entering this extended allocation window provides a clear, mathematical path to massive capital growth for early participants. Buying tokens at the current Stage 3 price of $0.0005 positions a portfolio perfectly for the guaranteed exchange launch price of $0.015, translating directly to a 30x return on investment. This means a modest allocation of $500 today expands to $15,000 at launch, while an investment of $2,000 transforms into a staggering $60,000 the moment global trading is initiated on exchanges.

Because all unsold tokens from each of the 20 timed stages are permanently burned at the end of every week, market scarcity is compounding aggressively. This community-driven extension is an absolute final opportunity to acquire DOGEBALL at a fraction of its true value before the timer runs out, so hurry up and secure tokens today.

Quick steps to join the absolute best market opportunity today

Participating in the top crypto presale to buy now is incredibly straightforward and takes less than five minutes from any web-enabled device. First, set up a secure web3 wallet such as MetaMask or Trust Wallet and fund it with a preferred cryptocurrency. Second, navigate to the official platform interface and connect the active wallet securely using the updated presale widget.

Third, input a desired purchase quantity and choose between standard crypto or convenient fiat card options to authorize the transaction. Finally, the acquired tokens will be safely locked on-chain and ready for immediate claiming the moment the 20 timed presale stages officially conclude.

Poly Truth runs stage 1 presale target to $187,533 over prediction markets analytics

Poly Truth (PTRUE) approaches the blockchain market from an analytical angle by focusing on decentralized intelligence inside global prediction networks. According to their live platform data at polytruth.io, the project is currently executing its Stage 1 presale, successfully raising $187,533.042 out of its fixed $194,832.17 target. The main goal of Poly Truth is providing retail traders with a data-driven advantage by evaluating historical indicators to determine where the concrete data points lie for specific wagering events. Their platform highlights verified smart contract audits conducted by Coinsult and SolidProof alongside a prominent banner offering up to 4275% staking rewards.

Despite these analytical tools, PTRUE remains bound to a highly specialized user base with limited daily transactional application. Their live presale timer shows less than four days remaining for Stage 1 before a scheduled 2.63% price increase pushes the individual token cost from $0.001216 to $0.001248. While prediction data analysis is unique, it lacks the multi-currency infrastructure and mainstream utility of DOGEPAY, leaving PTRUE as a speculative tool for niche prediction event traders.

Meme Punch stalls at stage 0 with zero dollars raised in gaming presale launch

Meme Punch (MEPU) aims to capture market share by connecting internet meme culture with an arcade-style play-to-earn browser game. Hosted on their portal at memepunch.io, the project introduces a fight-to-earn arena model where players select animated knights to engage in digital battles and accumulate MEPU tokens. The concept targets community building around gamified rewards, aiming to tap into the high-beta speculative nature of the gaming coin market.

However, an examination of the live platform widget reveals immense technical stagnation and a complete lack of early investor traction. The widget currently lists a Stage 0 status with a 0% staking reward and records exactly $0 raised so far, with all countdown timers remaining stuck completely at zero. Lacking a custom Layer 2 blockchain architecture, remittance offramps, or global payment processing utilities, Meme Punch presents a highly speculative profile compared to the robust utility driving the DOGEBALL project.

Conclusion: Purchase tokens today to capitalize on the leading investment window

To achieve optimal portfolio expansion, allocating capital into projects that possess undeniable real-world utility and aggressive deflationary design is essential. While Poly Truth and Meme Punch cater to restricted market niches, the DOGEBALL crypto presale 2026 offers an all-in-one payment network spanning retail remittance and an immersive gaming infrastructure with a $1M prize pool. Backed by strategic Web3 launch partnerships and a custom Layer 2 network, it represents the clear choice for sustained ecosystem demand and stands out as the top crypto presale to buy now.

Do not let this extended community opportunity pass by before the timed stages sell out. Acquire DOGEBALL tokens now at the fractional rate of $0.0005 to lock in a 2900% launch margins before the next mandatory price increase goes live!

For more information, visit the official website, Telegram, and X.

FAQs for top crypto presale to buy now

Which presale crypto is best, and what is the top crypto presale to buy now?

The top crypto presale to buy now is DOGEBALL (DOGEBALL) due to its fiat offramp. It brings genuine utility, making it the top crypto presale to buy now for long-term sustainable value.

Which crypto has 1000x potential?

DOGEBALL holds clear 1000x potential due to strategic token burns and utility. By replacing legacy remittance networks, this high-yield ecosystem is engineered for long-term demand.

Is it good to buy presale crypto?

Yes, entering a crypto presale lets investors buy tokens like DOGEBALL at the baseline price tier. This strategic positioning shields the capital from volatility and guarantees maximum listing profit.

TLDR:

• Large Ethereum leveraged short sits near $2,242 liquidation while price holds near the $2,180 zone
• Tight leverage structure increases sensitivity to minor ETH moves, raising forced liquidation risk
• RSI is near oversold, and flattening MACD suggests weakening downside momentum in the current structure
• Market range resembles prior consolidation phases, where volatility expansion followed compression

A heavily leveraged Ethereum position has drawn market attention as price action tightens near critical liquidity levels.

Traders are monitoring derivatives exposure, potential forced liquidation zones, and shifting momentum that may influence short-term volatility across Ethereum trading sessions globally.

Leveraged Exposure and Liquidation Pressure

Market positioning around high-leverage Ethereum shorts has intensified scrutiny across derivatives desks. A large speculative trade has been structured with aggressive 25x leverage, placing the entry zone close to recent market price levels. This setup leaves minimal tolerance for volatility spikes.

At current conditions, Ethereum trades near $2,180, while liquidation pressure is estimated slightly above $2,240. This narrow buffer creates sensitivity to even modest intraday fluctuations.

Order book data shows clustered liquidity around upper resistance levels, increasing the probability of rapid price reactions.

The ETH $82M 25x short whale position has become a reference point for traders tracking leveraged exposure risk.

Market makers often monitor such configurations due to their ability to trigger cascading liquidations. If price moves upward sharply, forced buybacks could accelerate momentum within minutes.

Funding rates across derivatives exchanges also indicate elevated directional bias. Short positioning dominance often increases vulnerability when the price begins to stabilize after prolonged declines. In this environment, volatility compression can act as a precursor to abrupt expansion in either direction.

Market Structure Signals and Historical Echoes

Ethereum’s current structure continues to reflect a broader downtrend marked by lower highs and intermittent recovery attempts.

Recent trading sessions show price repeatedly failing to sustain upward momentum beyond short-lived rebounds. This pattern suggests persistent overhead supply from larger market participants.

Technical indicators reinforce this setup. RSI readings hovering near oversold territory suggest exhaustion in bearish momentum.

Meanwhile, MACD signals show flattening histogram activity, indicating reduced downside acceleration compared to earlier phases of the decline.

Within this context, the leveraged position tied to the ETH $82M 25x short whale sits inside a historically sensitive range.

Previous Ethereum cycles have shown similar consolidation phases before either strong continuation moves or sharp reversal rallies. Market participants are now watching whether current price stability evolves into expansion.

Comparisons with earlier cycle behavior show repeated patterns of temporary equilibrium before directional resolution. In past instances, liquidity accumulation near resistance zones often preceded volatility spikes. Traders are observing whether current conditions replicate similar structural behavior.

As Ethereum trades within this compressed range, attention remains focused on liquidity pockets above current levels.

Any sudden push toward those zones could reshape short-term positioning dynamics. Market participants continue tracking order flow shifts as leverage remains elevated across derivatives platforms.

TLDR:

• Profit-taking rises toward 17%, signaling stronger distribution near major resistance zones
• Bitcoin remains capped below EMA200 and SMA200, reinforcing rejection pressure at the $82K region
• Short-term TD Sequential buy signal appears as selling momentum shows early signs of exhaustion
• $76,500 support becomes a key level as traders watch for stability after repeated resistance failures

Bitcoin is trading under renewed pressure as traders adjust positions near major technical barriers. Profit-taking activity has intensified around long-term averages, while price struggles to regain momentum above key resistance zones, reflecting a shifting balance between buyers and sellers.

Profit Rotation Intensifies Near Long-Term Resistance

Market conditions show a steady rise in profit realization as Bitcoin approaches critical resistance levels. The average trader is now sitting on elevated gains, encouraging a faster rotation from holding to distribution. This shift becomes more visible as price tests the 200-day moving average.

As selling activity builds, market structure begins to reflect hesitation near breakout zones. Each attempt to push higher meets fresh supply, suggesting that participants are actively reducing exposure.

This behavior is consistent with phases where upside momentum slows under increased liquidation of profitable positions.

Additionally, the expansion of gains across the market has altered short-term sentiment. Instead of strong continuation buying, rallies are now met with quicker exits. This dynamic has reduced follow-through strength and increased volatility around resistance clusters.

Moreover, similar phases in previous cycles have often emerged when profitability expands too rapidly. During these conditions, momentum tends to weaken even if the price remains technically supported. The current setup reflects a similar rotation pattern, with traders prioritizing capital preservation over extended exposure.

Moving Average Rejection Shapes Short-Term Market Structure

Bitcoin continues to face rejection beneath the EMA200 and SMA200 cluster near the $82,000 region. This zone has now transitioned into a strong supply area where bullish attempts repeatedly lose momentum. The inability to reclaim this level has reinforced a cautious trading environment.

At the same time, short-term signals are beginning to shift. A TD Sequential buy setup has appeared on lower timeframes, suggesting potential exhaustion of recent selling pressure. However, this signal remains unconfirmed without sustained recovery above key resistance levels.

Price structure now leans heavily on the $76,500 support zone, which acts as the immediate defense line for buyers.

A breakdown below this region could expose deeper liquidity pockets and extend the corrective phase further into lower support bands.

Even so, short-lived rebounds remain possible if buying interest strengthens. Market participants continue to monitor whether momentum can recover from current levels. Until then, trading activity remains shaped by resistance-driven behavior, where profit rotation continues to dictate short-term direction across the market.

Strategy chairman Michael Saylor on Sunday signaled the Bitcoin treasury company would be buying more of the cryptocurrency in the week ahead while also encouraging retailer shareholders to vote on a proxy measure enabling semi-monthly dividend payouts on the company’s STRC perpetual preferred stock.

“Big Dot Energy” was Saylor’s tweet late Sunday morning to accompany a bubble chart tracking Strategy’s BTC purchases over the past nearly six years. That chart, from Iceland-registered StrategyTracker.com, has been consistently posted by Saylor in the days ahead of a corporate purchase.

Saylor’s “Big Dot Energy” message on Sunday. Source: Michael Saylor on X.com

A purchase this week would build on Strategy’s current 818,869 Bitcoin holdings which had a combined market cap of about $67.2 billion based on a market price of $77,996.91 at time of publications, according to StrategyTracker.com.

In addition to the purchase signal, both Saylor and Strategy’s official social media feeds showed posts encouraging retail shareholders, who own 80% of the company’s perpetual Stretch preferred stock (STRC), to vote on a proxy measure that would permit the company to make semi-monthly payouts to STRC shareholders.

Related: STRC preferred stock investors are mispricing major ‘dislocation’ risk: Analyst

Stressing dividend amendment is for retail holders, proxy vote is not a shoo-in

Strategy is proposing to pay semi-monthly dividends on STRC, instead of monthly. The company claims that if approved and adopted, it will lead to reduced reinvestment lag, enhanced liquidity, market efficiency and increased price stability.

Three weeks ahead of the June 8 proxy vote deadline, Saylor and Strategy are making a full press to get retail shareholders to return their proxy votes. 

“If you are a $STRC shareholder and have not already voted, please take a moment to do it now. Together, we can make history and establish the $100 standard for Digital Credit,” read another of Saylor’s Sunday posts on X.

The company’s feed acknowledged the size and importance of retail investors. “80% of $STRC is held by retail investors. This amendment is for you. Vote for STRC to pay semi-monthly dividends. Your vote matters. Make it count,” read the post.

One of several posts on Strategy’s official feed urging proxy vote. Source: Strategy on X.com

To be sure, retail investors have shown limited interest in casting proxy votes. A November research note from The Harvard Law School Forum on Corporate Governance revealed data that showed retail investors have consistently voted only about 29% of their owned shares during the past five proxy voting seasons. Institutional holders have voted about 77%.

Strategy is not taking any chances.

It has rescheduled a live Q&A session for retail investors with Saylor and CEO Phong Le to May 20 at 5 ET. The session, slated to be moderated by Natalie Brunell, host of the Coin Stories podcast. The Q&A will be livestreamed on YouTube and on X. Shareholders are being invited to submit questions ahead of the session.

Magazine: Big Questions: Can Bitcoin save you from the dreaded Cantillon Effect?

TLDR:

• Kalshi traders are increasing bets on XRP reaching $1.60 before May ends amid stronger bullish sentiment.
• XRP continues trading inside an ascending channel, keeping the short-term bullish structure intact.
• Market probabilities weaken above $1.80, showing traders expect resistance despite rising optimism.
• Ripple’s improving regulatory clarity is strengthening confidence in XRP’s broader market outlook.

Kalshi traders are increasingly bullish on XRP, with prediction markets signaling the token could reach $1.60 this month.

The forecast comes as XRP regains momentum, supported by improving sentiment and growing optimism around its short-term market structure. 

XRP Price Prediction Gains Strength as Kalshi Traders Turn Bullish

Kalshi’s prediction market is showing growing confidence in XRP’s short-term upside. Traders are increasingly positioning for the asset to test the $1.60 level before the monthly close.

Unlike analyst forecasts, prediction markets reflect real-money conviction. This gives investors a direct view into collective sentiment as capital flows into bullish XRP contracts.

Current market probabilities suggest traders see $1.60 as a realistic near-term target. However, enthusiasm cools noticeably above the $1.80 and $2.00 zones.

This pricing pattern signals measured optimism rather than speculative excess. Market participants expect upside continuation but remain cautious about immediate breakout extensions.

A recent crypto market tweet reinforced this narrative, showing Kalshi traders aggressively favoring contracts linked to XRP’s move toward $1.60. The data quickly gained traction among market watchers.

The shift in sentiment follows improving confidence around Ripple’s regulatory position. After years of legal uncertainty, traders increasingly view XRP as entering a more investable phase.

This renewed optimism is also being supported by speculation around potential XRP-based exchange-traded products. Institutional accessibility remains a major theme driving attention back to the token.

Technical Setup Points to Possible XRP Breakout Toward $1.60

From a chart perspective, XRP continues trading inside a long-term ascending channel. This broader structure has historically supported strong impulsive rallies.

Price is currently consolidating near an important support area after cooling from recent highs. This compression phase is attracting technical traders looking for continuation signals.

The $1.50 region has emerged as the immediate trigger zone. Analysts believe a decisive move above this level could force short liquidations and accelerate momentum.

A widely circulated chart on social media displayed XRP’s projected breakout path, with an upward move targeting the next liquidity zone near $1.60.

The setup resembles earlier XRP accumulation phases. Similar technical behavior preceded explosive rallies during previous market cycles.

Momentum indicators are also stabilizing. The Relative Strength Index has reset from overheated conditions and is now positioned around neutral territory.

This development is viewed positively by traders. It suggests bullish structure remains intact while allowing room for fresh upside expansion.

Although prediction markets show declining probabilities above $2, the current outlook remains constructive. Traders appear focused on a more realistic short-term move instead of pricing extreme scenarios.

With sentiment improving and technical conditions aligning, XRP is once again becoming a closely watched asset across the crypto market. A clean breakout could place the $1.60 target firmly within reach before month-end.