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Why a Solana infrastructure firm is moving its servers to win the global crypto trading war

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Why a Solana infrastructure firm is moving its servers to win the global crypto trading war

DoubleZero, a crypto infrastructure startup co-founded by former Solana Foundation executive Austin Federa, is rolling out a major update aimed at spreading Solana’s network more evenly around the world, and making it faster in the process.

On Mar. 9, the company will launch “Phase II” of its DoubleZero Delegation Program, redirecting 2.4 million SOL from its 13 million pool to validators operating in underrepresented regions such as São Paulo, Singapore, Hong Kong, and Tokyo. Each region will receive up to 600,000 SOL in additional delegated stake incentives.

DoubleZero runs a dedicated high-speed internet network that helps Solana’s computers talk to each other faster and more reliably. In 2025, the company behind the network raised $28 million at a $400 million valuation.

DoubleZero’s goal in rolling out the incentive is simple: reduce Solana’s growing geographic concentration in Europe and introduce “multicast functionality,” a data distribution method widely used in traditional finance.

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Geographic cluster

One of the main goals of Federa is to reduce the geographic concentration of validators.

“One of the unintended consequences of blockchains getting faster is there’s more incentive to co-locate next to one another,” Federa said in an interview. He compared it to early high-frequency trading wars on Wall Street, when firms scrambled to place servers physically closer to the New York Stock Exchange to shave milliseconds off trades.

Read more: ‘Crypto’s Flash Boys’: A Q&A With Austin Federa on DoubleZero

Today, much of Solana’s staked tokens, which secure the network, sit in Central Europe — largely for historical and economic reasons. “There were a lot of really good, really cheap bare-metal data centers in Europe,” Federa said. “Solana was optimized for that kind of hosting early on, and the infrastructure just built up there.”

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But geographic clustering creates trade-offs: If most validators are in Europe, users farther away may be at a disadvantage.

“If I’m sitting in South America trying to execute a trade on Solana, I can hit send first,” Federa said. “But someone who’s got a computer in Germany might actually win that trade.”

To address that imbalance, DoubleZero is offering 2.4 million SOL and aims to make it economically viable for validators to operate outside traditional hubs.

‘More dependable’

The next problem DoubleZero is trying to solve through the new initiative is data transmission latency.

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The main barrier to expanding into those areas isn’t technical, Federa said — it’s economic. “Because you’re further away, everything takes longer to get there. It’s like Amazon Prime — in New York you get it same day. In Montana, it’s four or five days.”

DoubleZero says its private fiber network helps address connectivity issues, while the new delegation incentives aim to offset the economic penalty of being outside traditional hubs.

This is why, alongside the geographic push, DoubleZero is introducing the multicast functionality to Solana.

Federa compared it to watching the Super Bowl via satellite versus streaming. With satellite, “an infinite number of people can be watching that radio wave… and it’s no additional tax.” Streaming, by contrast, requires a separate data stream for each viewer.

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Blockchain networks today largely operate like streaming services — sending duplicate data over and over. Multicast, he said, changes that.

“In a pre-multicast world, if I’m sending data to 1,000 nodes, I’m handing out 1,000 copies,” he said. “With multicast, I send one copy, and the network hardware replicates it closer to where it needs to go.”

That reduces bandwidth costs, improves fairness in how quickly participants receive data, and creates more room for future upgrades. It also makes blockchain infrastructure behave more like traditional exchanges, which rely heavily on multicast.

“Traditional finance isn’t just faster than blockchain — it’s more dependable,” Federa said. “If we can bring more determinism to blockchain networking, it makes it a much more attractive place for market makers and traders.”

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Ultimately, DoubleZero is betting that financial incentives like this will help Solana’s infrastructure spread globally, moving it closer to functioning like a truly real-time market.

Read more: DoubleZero Mainnet Goes Live With 22% of Staked SOL on Board

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FLR price outlook as Flare and Xaman launch one-click DeFi access for XRP holders

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XLM bounces from $0.15 lows, but bears remain in control
  • The one-click DeFi access could unlock idle XRP liquidity for Flare’s ecosystem.
  • The FLR token price remains weak amid low liquidity and cautious market sentiment.
  • The immediate support level for Flare (FLR) sits near $0.00963, with downside risk if this support breaks.

Flare (FLR) cryptocurrency price is pulling back after a recovery attempt that pushed it to a high of $0.009826 on February 28, following the news of Flare rolling out one-click DeFi access for XRP token holders through a partnership with Xaman.

This comes as FLR cryptocurrency trades near multi-month lows, raising an important question about whether fundamentals can eventually support a shift in price momentum.

The one-click DeFi lowers the barrier for XRP holders

For years, XRP holders have largely remained on the sidelines of decentralised finance due to technical complexity and limited native options.

Flare’s latest integration aims to change that by simplifying how the XRP cryptocurrency can be used in DeFi without forcing users to navigate bridges, complex smart contracts, or unfamiliar wallets.

The one-click approach allows users to interact with DeFi protocols while maintaining self-custody, which has been a persistent concern for more conservative market participants.

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By abstracting away the complicated steps, Flare positions itself as a gateway for idle XRP liquidity to enter yield-generating activities.

This matters because XRP represents one of the largest pools of dormant capital in crypto, yet only a small fraction of it is currently productive.

If even a modest percentage of that capital moves on-chain, it could significantly boost activity across Flare’s DeFi stack.

The timing is also notable, as demand for yield products has been rising while speculative trading has slowed.

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That shift suggests users are becoming more selective, favouring utility and predictable returns over short-term price bets.

Market conditions keep FLR under pressure

Despite the positive narrative, Flare’s native token, FLR, has struggled to reflect this progress in its price.

The broader crypto market has recently leaned risk-off, with total market capitalisation slipping and Bitcoin posting mild losses.

In this environment, FLR has underperformed slightly, declining more sharply than the market average over the past 24 hours.

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Liquidity remains thin, as reflected by a sharp drop in daily trading volume, which makes the token more sensitive to modest sell pressure.

Low liquidity often exaggerates price moves, especially when there is no strong catalyst to attract fresh buyers.

While social sentiment around XRP-related developments has turned more optimistic, that enthusiasm has not yet translated into sustained buying activity.

Over the past month, FLR has remained down meaningfully, reinforcing the idea that traders are still cautious.

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This disconnect between improving fundamentals and weak price action highlights a familiar crypto pattern where adoption narratives take time to show up on charts.

Flare price forecast

FLR is currently trading in a tight technical range that reflects uncertainty rather than panic.

Price action is sitting between key Fibonacci retracement levels that have capped momentum in both directions.

The first level traders are watching is the area around $0.00904, which has acted as short-term support.

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A clean break below this zone could expose the previous swing low near $0.0085.

If that lower level fails to hold, downside pressure may accelerate due to thin liquidity.

This makes volume confirmation critical for any move lower or higher.

On the upside, FLR needs a decisive push above the $0.00968 region to shift near-term momentum.

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Such a move would signal that buyers are finally stepping in with conviction.

From a technical standpoint, momentum indicators, including the Relative Strength Index (RSI), currently sit near neutral, suggesting the market is coiled rather than trending.

Flare price chart analysis
FLR price chart | Source: TradingView

This leaves FLR vulnerable to broader market moves until a clear catalyst emerges.

The key question is whether growing DeFi participation from XRP holders can translate into measurable demand for FLR.

If on-chain activity and volume rise together, price could stabilise and attempt a recovery.

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Until then, the outlook remains neutral to slightly bearish, with traders focused on support resilience rather than breakout targets.

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Bitcoin price recovery falters, drops to $67k as popular analyst predicts major crash

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Bitcoin price recovery falters
Bitcoin price recovery falters
  • Bitcoin stalls near $67,000 after partial recovery from all-time highs.
  • On-chain data shows half of BTC is held at a loss, hinting at market fatigue.
  • Analyst warns deeper correction possible, with bottom around $45,000.

Bitcoin’s recent recovery attempt has stalled just below $70,000, with the cryptocurrency slipping back to around $67,250 at press time.

The drop comes as the broader crypto market struggles to maintain upward momentum following a few months of volatility.

After reaching an all-time high of $126,080 in October 2025, Bitcoin (BTC) has now retraced nearly half of its value.

All eyes are now on the cryptocurrency as it appears to consolidate around $67,000 after the steep drawdown.

Analyst Willy Woo warns of further downside

Renowned on-chain analyst Willy Woo has predicted a significant price correction following the recent bounce.

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He estimates that the bear market bottom could be around $45,000, with more extreme scenarios potentially testing $30,000 or even lower.

Woo’s caution stems from declining liquidity across spot and derivatives markets, which historically reduces the strength of rallies.

He suggests that Bitcoin may briefly climb to the mid-$70,000 range before facing renewed downward pressure.

On-chain signals hint at market fatigue

On-chain metrics suggest that Bitcoin may be entering the later stages of a bear market cycle rather than the early phase.

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Roughly half of all circulating BTC, nearly 9.2 million coins, are currently held at a loss, according to the latest weekly report by on-chain analytics firm Glassnode.

Historically, such levels indicate significant selling pressure and potential capitulation, yet the pace of accumulation by long-term holders hints at a market beginning to stabilise.

Some analysts view these patterns as signs that bitcoin’s price may be closer to a bottom than the start of a prolonged decline.

The balance between holders in profit and those in loss is an important measure of market sentiment, and it shows that while short-term volatility remains high, there is underlying support at current levels.

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Bitcoin ETF inflows show cautious optimism

Institutional investors have recently stepped back into the market, with Bitcoin ETFs recording over $1 billion in net inflows over a few days.

This trend follows a period of withdrawals totalling nearly $3 billion, signalling that some investors see the current price as a buying opportunity.

Spot ETFs, in particular, are attracting attention from long-term investors looking for regulated exposure to Bitcoin.

The renewed interest demonstrates that, despite the pullback from all-time highs, there is confidence in the asset’s long-term prospects.

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However, inflows are not a guarantee of sustained upward momentum.

Short-term technical indicators suggest that Bitcoin is trading near the top of a tight consolidation range between $67,000 and $68,000, and a breakout above this zone could spark a rally, although rejection may force the price back toward $63,000 or lower.

 

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Solana Treasury Giant Nears $1 Billion Loss on SOL Bet

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Solana Treasury Giant Nears $1 Billion Loss on SOL Bet

Forward Industries’ CIO says the company aims to become the “Berkshire Hathaway of the Solana ecosystem,” even as its treasury approaches $1 billion in unrealized losses.

The statement comes as SOL has declined nearly 30% year-to-date, a drop that is impacting balance sheets across major Solana-focused digital asset treasury (DAT) firms.

Solana’s Price Decline Deepens Institutional Pain

Forward Industries is the largest institutional holder of Solana. The company began accumulating SOL in September 2025 after raising approximately $1.65 billion through a private investment in public equity (PIPE), backed by Galaxy Digital, Jump Crypto, and Multicoin Capital.

According to the latest data from CoinGecko, it holds over 6.9 million SOL. The firm acquired its position at an average price of around $230 per token, implying a total cost basis of roughly $1.59 billion.

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Forward Industries’ Solana Holdings. Source: CoinGecko

With the altcoin trading near $87, the company’s stake is now worth approximately $605.2 million. That represents an unrealized loss of nearly $1 billion, or roughly 62% from its average entry price.

Furthermore, FWDI shares have fallen from over $39 to roughly $5 since the company started buying SOL. According to Google Finance data, the stock price declined by 31.47% in 2026 alone.

Forward Industries Stock Price
Forward Industries Stock Price. Source: Google Finance

Despite the drawdown, the firm’s conviction remains strong. Company leadership has outlined an ambitious long-term vision that transcends short-term volatility.

“Our longer-term aspiration is to be the Berkshire Hathaway of the Solana ecosystem. We believe Solana is best positioned as the blockchain for the future of internet capital markets,” Forward Industries’ CIO Ryan Navi said.

According to CoinGecko treasury data, Forward Industries is not alone. Firms like DeFi Development Corp, Upexi, and Sharps Technology are also sitting on significant unrealized losses as Solana’s price continues to slide.

The losses extend well beyond Solana-focused firms. Bitmine’s Ethereum (ETH) holdings have produced unrealized losses exceeding $7 billion. Meanwhile, Strategy’s Bitcoin (BTC) position carries paper losses of roughly $5 billion, according to Saylortracker data.

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The broader DAT model, in which publicly listed companies hold crypto assets as their primary balance sheet instrument, is showing its vulnerabilities as a synchronized market decline compresses asset values while equity investors reprice risk.

Solana Launches “Solana Payments” Amid Ecosystem Momentum

Despite price struggles, ecosystem developments have continued. Yesterday, the team introduced Solana Payments, a new initiative to accelerate on-chain payment adoption.

According to the network, major players, including Visa, PayPal, Stripe, Western Union, and Fiserv, are running live products on the network, not just pilots. It also stated that the network has processed over 480 billion transactions and facilitates approximately $2 trillion in stablecoin transfers per quarter.

“Payments.org has everything you need to start building: Live payment simulator. Developer docs. Case studies from the biggest names in finance,” the post read.

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Thus, while ecosystem development continues and institutional narratives remain ambitious, prolonged price weakness is testing balance sheets and investor confidence alike. Forward Industries’ bet on SOL’s long-term value may yet prove correct, but the timeline and the market’s patience for it remain open questions.

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Ethereum 2029 Roadmap: ETH to Become the High-Speed Internet of Value

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Ethereum 2029 Roadmap: ETH to Become the High-Speed Internet of Value

Ethereum just put a timestamp on its ambition, and the new roadmap could shape its price valuation. The Foundation’s new “Strawmap” (roadmap) targets a high-throughput settlement layer by 2029, cutting finality from around 16 minutes to seconds and aiming for 1 gigagas per second directly on Layer 1.

Instead of leaning almost entirely on Layer-2s for speed, Ethereum wants the base layer itself to become faster, tougher, and globally competitive with traditional financial rails.

Key Takeaways

  • The Target: The roadmap aims for 10,000 TPS (1 gigagas/s) on Layer 1 and up to 10 million TPS on Layer 2 via data availability sampling.
  • The Shift: Introduction of “Minimmit” single-slot finality intends to reduce transaction irreversible time from roughly 16 minutes to 6–16 seconds.
  • The Timeline: Developers are planning seven hard forks on a six-month cycle through 2029 to implement these changes incrementally.

The Strawmap or Ethereum Roadmap: 10,000 TPS and Instant Finality

The big number is 10,000 TPS on Layer 1.

The Strawmap targets roughly 1 gigagas per second using zkEVMs and real-time proving. Today, transactions are included quickly but take around 16 minutes to reach finality. The new goal is 6 to 16 seconds, which is critical for serious financial use.

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To get there, Ethereum plans up to seven hard forks through 2029. Slot times would gradually fall from 12 seconds to 8, and eventually toward near single-second blocks. That delays any push toward full “ossification” and prioritizes performance.

Source: Justin Drake

Vitalik has acknowledged that earlier assumptions about relying almost entirely on L2s need revision. If rollups are expected to process millions of TPS, the base layer must handle far more load itself.

For institutions, the message is clear. Ethereum wants to become a settlement infrastructure capable of supporting heavy, real-world financial flows without congestion.

Ethereum Roadmap: L1 Velocity vs. L2 Scale

For years, the message was simple: scale on Layer 2. The Strawmap adjusts that stance. Scale on L2, but make Layer 1 fast enough so it does not become the bottleneck. Ethereum is reacting to competitive pressure.

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Vitalik has acknowledged that earlier assumptions about L2 reliance need updating. If rollups are expected to process millions of TPS, the base layer must comfortably handle around 10,000 TPS. Faster finality also matters for emerging AI-driven use cases, where agents require near-instant settlement to execute complex on-chain strategies.

The proposed shift toward techniques like erasure coding signals a deeper focus on data propagation and network efficiency. If successful, Ethereum strengthens its position as a high-speed settlement layer. If not, it risks ceding performance perception to faster, more centralized alternatives.

Ethereum Price Analysis: The Path to 2029 Valuation

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The market reacted fast, with ETH whipping around the $2,060 area after the roadmap dropped. Long term, the plan gives investors a structural anchor. It signals Ethereum does not intend to fall behind faster monolithic chains.

Source: ETHUSD / TradingView

Technically, Ethereum price is compressing. $2,150 is the key resistance. A clean break there opens the path toward $2,400. On the downside, $2,000 is the short-term pivot, and $1,920 to $1,800 is the structural support zone if sentiment turns.

Execution risk matters. If slot-time reductions and early upgrades slip past late 2026, the market could reprice lower. The move toward erasure coding shows the Foundation is tackling core data bottlenecks. If it works, Ethereum strengthens its case as a high-speed settlement infrastructure. If not, it risks being overshadowed by faster alternatives.

For now, holding $2,000 keeps the bullish structure alive. Losing $1,920 would weaken the setup until a new catalyst appears.

Discover: Here are the crypto likely to explode!

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The post Ethereum 2029 Roadmap: ETH to Become the High-Speed Internet of Value appeared first on Cryptonews.

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MARA and Block rally while CoreWeave tumbles on margin pressure

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MARA and Block rally while CoreWeave tumbles on margin pressure

Earnings season is wrapping up with a mixed bag of results across crypto miners, AI infrastructure plays and fintech names, including MARA Holdings (MARA), TerraWulf (WULF), CoreWeave (CRWV) and Block (XYZ).

Bitcoin has remained relatively flat around $67,000 during Asia and European hours, with limited movement spilling over into other crypto related equities.

MARA Holdings jumped 16% to $9.80 after striking a deal with Starwood Capital to convert select bitcoin mining facilities into AI focused data centers. The partners expect to deliver about 1 gigawatt of capacity in the near term, with plans to scale beyond 2.5 gigawatts.

The pivot reflects a broader shift among miners looking to monetize power access as AI compute demand surges, following Bitfarms (BITF) and Cipher Digital (CIFR) amongst others.

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TerraWulf is trading 3.5% lower at $17 after its Q4 print, with revenue down due to lower bitcoin production and transitional GAAP optics.

However, executives emphasized that the key story is the ramp in contracted high performance computing revenue. The company has expanded from one site a year ago to five today and expects about 2.9 gigawatts of gross capacity by year end, according to head of digital assets VanEck, Matthew Sigel.

CoreWeave shares are down 12% despite revenue of $1.57 billion, beating expectations of $1.53 billion. The company reported weaker than forecasted Q1 revenue guidance, in addition to an increase in capital expenditure, which raised concerns about profitability and cash burn. EPS came in at -$0.89 versus -$0.68 expected, a 31% miss.

Block is up 20% after announcing it will cut more than 40% of its workforce, reducing headcount to about 6,000. While management pointed to AI driven efficiencies, investors are also weighing longer term margin pressure from stablecoin based payment rails.

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The company guided Q1 operating income to $600M versus $574M expected, forecast Q1 gross profit of $2.8B versus $2.72B consensus and raised full year gross profit, according to Sigel.

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BofA Lifts Caterpillar Price Target to $825 Following Robust Full-Year Performance

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CAT Stock Card

TLDR

  • BofA increased Caterpillar’s price target from $735 to $825, maintaining its Buy recommendation following impressive 2025 financial results.
  • The industrial giant delivered $67.6 billion in annual revenue with 4% growth, while its Power & Energy division jumped 23% to $9.4 billion.
  • CNBC’s Jim Cramer expressed support for CAT’s turbine business but suggested Cummins (CMI) offers better value at current levels.
  • February saw short positions increase by approximately 61%, while company insiders offloaded more than $98 million in shares during the last quarter.
  • Trading at roughly 40 times earnings after a 124% annual surge, CAT faces a consensus analyst price target of $712.52 with a “Moderate Buy” average recommendation.

Caterpillar (CAT) has experienced an impressive rally. Shares have climbed 124% during the past year and gained 28% since the beginning of 2025, starting Friday’s session at $752.81.


CAT Stock Card
Caterpillar Inc., CAT

Following the release of Caterpillar’s full-year 2025 financial results, Bank of America wasted no time adjusting its outlook. The investment bank elevated its price objective on CAT from $735 to $825 while reaffirming its Buy recommendation.

BofA’s analysis was clear-cut. Caterpillar is experiencing turbine demand from multiple sectors extending far beyond data center applications, which the firm believes undermines concerns about potential turbine oversupply in the market.

The financial performance supported this thesis. Caterpillar generated $67.6 billion in total revenue throughout 2025, representing a 4% year-over-year improvement. The Power & Energy division emerged as the star performer, expanding 23% to achieve $9.4 billion in sales.

Fourth-quarter performance was equally impressive. The company delivered earnings per share of $5.16 for the period, surpassing the analyst consensus of $4.67. Revenue reached $19.13 billion, significantly exceeding projections of $17.81 billion. This represented a 17.9% increase compared to the corresponding quarter one year prior.

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Jim Cramer recently shared his thoughts on CAT, stating plainly, “We like their stuff.” He highlighted turbines and power equipment as the foundation of the optimistic investment thesis.

However, Cramer also expressed some reservation. When a club member inquired in January about entering a position, he noted the stock had already experienced a substantial appreciation and said he’d prefer to see a pullback before adding exposure. He indicated he currently finds Cummins (CMI) more attractive than CAT at present valuations.

Cramer also offered criticism regarding retail investor participation, suggesting that Caterpillar’s leadership team should be working harder to engage individual investors — and questioning why an iconic American corporation trades at $749.

Analyst Ratings Split

The overall analyst community remains divided. CAT currently has sixteen Buy ratings, seven Hold ratings, and one Sell rating. The average price target stands at $712.52, which actually falls below the stock’s current trading level.

Wells Fargo pushed its target to $870 alongside an Overweight rating. Daiwa elevated its projection to $790. Jefferies established a $750 target with a Buy recommendation. Oppenheimer moved to $729 with an Outperform rating. Morgan Stanley, however, only increased its target to $425 while maintaining an Underweight stance.

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Wall Street Zen downgraded CAT from Buy to Hold on February 21st.

Insider Selling and Short Interest

Not all market participants are bullish. Executive Denise C. Johnson divested 39,138 shares on February 2nd at an average price of $681.08, totaling more than $26.6 million. This transaction represented a 47% reduction in her stake.

Insider Bob De Lange executed his own sale on February 6th, offloading 22,656 shares at $720.11 for approximately $16.3 million. Throughout the past 90 days, company insiders have collectively sold $98.2 million worth of shares.

Short interest also surged roughly 61% during February, indicating that some market participants are positioning for a decline.

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Institutional investors control 70.98% of CAT’s outstanding shares. Erste Asset Management expanded its stake by 32.7% in Q3, purchasing 33,634 shares. Norges Bank established a new position valued at more than $2.1 billion in Q2.

CAT’s 52-week trading range extends from $267.30 to $789.81. The stock currently trades at a P/E ratio of 40 with a market capitalization of $350.27 billion. The upcoming quarterly dividend is $1.51 per share, translating to an annualized distribution of $6.04 and a yield of 0.8%.

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Suspected Insider Wallets Net $1.2M Betting on ZachXBT’s Axiom Expose

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Suspected Insider Wallets Net $1.2M Betting on ZachXBT’s Axiom Expose

A small group of crypto wallets won more than $1.2 million betting on a Polymarket contract tied to an onchain investigation into decentralized finance (DeFi) trading platform Axiom, fueling fresh concerns that prediction markets can reward people with advance knowledge of market-moving disclosures.

The eight most profitable wallets on the market collectively made about $1.2 million, according to trading data compiled on Dune. The same dataset showed more than 50 wallets posting combined losses of roughly $1.23 million, while two wallets lost about $366,000.

Eight out of the top 10 wallets are likely insider addresses, judging by their onchain transaction patterns, according to onchain researcher Defioasis. “There are 3 addresses that achieved profits exceeding $100,000, all of which are insider addresses that traded only this single market,” said the researcher in a Friday X post.

Top wallets betting on Axiom in ZachXBT’s insider exposé. Source: Dune

ZachXBT released the much-anticipated investigation on Thursday, alleging that Axiom employee Broox Bauer and others had been responsible for insider trading activity since early 2025.

Transactions, Social Media, Investigation, Polymarket
Source: ZachXBT

In an X response to the incident, Axiom said it was “shocked and disappointed” in the news and that it had removed access to the tools that were used in the alleged insider trading.

Related: Analysts reject Jane Street ‘10 a.m. dump’ claims, say Bitcoin isn’t easily manipulated

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Prediction markets raise insider trading allegations

Insider trading concerns in prediction markets mounted in early January after a highly profitable bet on the removal of Venezuelan President Nicholas Maduro by the US raised eyebrows.

On Jan. 3, a Polymarket account placed a bet on a contract predicting that Maduro would be removed from office just hours before US forces captured him in a military operation, netting the user about $400,000 in profit.  

US lawmakers have since proposed legislation aimed at restricting political prediction market trading by government officials, adding to the regulatory spotlight on the sector.

Related: Solo Bitcoin miner bags over $200K block reward using rented hashrate

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Polymarket faces growing regulatory scrutiny on gambling concerns

Polymarket, the largest decentralized prediction market, has faced mounting regulatory pressure in several countries where authorities have argued that the platform offers unlicensed gambling.

Hungary and Portugal blocked access to the platform in January, citing concerns related to forbidden gambling activities.

A week earlier, Ukraine blocked Polymarket, classifying its activities as unlicensed gambling under national law.

Polymarket has also been restricted or blocked in several other countries over gambling concerns, including France, Belgium, Poland, Singapore and Switzerland.

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Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users