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Nuvalent Stock Hits All-Time High Following GSK’s Buyout Offer

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Nuvalent Stock Hits All-Time High Following GSK's Buyout Offer


Medical research and development by Gorodenkoff via Shutterstock

Nuvalent (NUVL) stock ripped higher on June 9 after GSK (GSK) announced a $10.6 billion all-cash deal to acquire the Nasdaq-listed precision oncology company. 

The British pharmaceutical behemoth will commence a tender offer at $124 per share, representing a massive 40% premium on NUVL’s previous close. 

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NUVL is the second-largest acquisition in GSK’s history, marking a departure from its focus on smaller transactions in recent years. 

Including today’s explosive gains, Nuvalent shares are up more than 20% versus the start of this year.

www.barchart.com

Why Did GSK Price Nuvalent Stock at a Premium?

Buying Nuvalent adds two near-approval therapies (zidesamtinib and neladalkib) to GSK’s portfolio — positioning it strongly to challenge lung cancer treatments from the likes of Roche (RHHBY) and Pfizer (PFE). 

FDA is set to announce its decision on those next-gen investigational cancer drugs in September and November, respectively, with BofA analysts calling for combined peak annual sales of up to $4 billion. 

In its press release, GSK said the NUVL transaction will be profitable from 2027 and incremental to its goal of achieving £40 billion in yearly sales within the next five years. 

The pharma titan is paying a hefty premium for NUVL stock because the acquisition may also help offset an expected decline in revenue when its best-selling HIV medicine loses exclusivity in 2028.

Is There Any Further Upside Left in NUVL Shares?

Investors should note that Nuvalent shares are already trading just below the $124 buyout price, which means the upside from here is essentially gone.

Since GSK is taking the biotech firm private, its stock price is unlikely to push higher in the absence of a superior proposal. 

But a rival bid appears improbable given the substantial premium GSK has already agreed to pay — and just how strategically a fit NUVL is for its portfolio.  

Simply put, a better way to bet on a potential breakthrough in lung cancer treatment is GSK, not Nuvalent. 

Wall Street’s View on Nuvalent

Investors should note, however, that heading into June 9, Wall Street firms had a consensus “Strong Buy” rating on NUVL shares, with a mean price target of nearly $144. 



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30% drop in 30 days, yet Sharplink’s staking rewards cross 21K ETH – What’s happening? 

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30% drop in 30 days, yet Sharplink's staking rewards cross 21K ETH - What's happening? 


Sharplink, the second-largest Ethereum [ETH] digital assets treasury (DATs) company, has hit 21,119 ETH in total staking rewards.

This milestone was achieved as Sharplink added another 529 ETH in staking rewards this week. 

Entry outpaced exit despite the drop 

Meanwhile, Ethereum‘s validator queues in June highlighted a staking environment that was still strong, despite cooling down.

Entry and Exit of ETH staking
Source: Validator Queue

The “Entry” queue gradually shrank from about 3.2 million ETH towards the beginning of the month to about 3 million ETH by 09 June. This indicated that although demand for new staking was still high, the spike that occurred in late April and early May had started to subside.

The “Exit” line, however, remained close to zero for the majority of the month, with only a brief hike in late May that lasted into early June before rapidly diminishing.

All in all, this indicated that validators have continued to prefer staking over withdrawing.

What are Ethereum’s staking dynamics showing? 

Well, over the last ninety days, the percentage of Ethereum’s supply that is staked as well as the total amount of ETH staked seemed to tell us a different story. 

Supply stakedSupply staked
Source: Validator Queue

Despite a slight slowdown in the growth of the validator queue, Ethereum staking has remained strong in June. The total amount of Ethereum staked increased gradually from about 39.1 million at the start of June to over 39.25 million by 09 June – A new high for the timeframe.

At the same time, the percentage of Ethereum’s circulating supply that was locked in staking increased from about 32.1% to more than 32.2%. The steady uptick indicated that more Ethereum owners kept their holdings in staking, rather than selling or keeping them liquid.

This trend can generally be seen as a positive for Ethereum since it lowers the quantity of ETH that may be easily accessible on the market. 

Sharplink vs. Bitmine

According to AMBCrypto, Sharplink added 422 ETH to its staking rewards over the previous week. 

On the other hand, Bitmine Immersion Technologies, Inc. has so far staked 4,718,677 ETH – Equivalent to $7.7 billion at $1,630 per ETH.

All of this occurred as ETH’s value fell by nearly 30% over the previous month, with the altcoin trading at $1,634.58 at press time. This suggested that Sharplink is still far behind Bitmine.

This can be further supported by Bitmine’s own ETH holdings, with the same climbing to 5,543,872 ETH worth $9.06 billion.

Final Summary

  • Ethereum staking has kept growing in June.
  • By taking advantage of Ethereum’s continuously expanding staking ecosystem, Sharplink added 529 ETH in rewards this week.



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BTC updates: Soft core inflation gave crypto a bounce, but only bitcoin held up on the week

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moneyvests
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BTC, ETH prices drop even as futures show growing taste for risk. XLM, HYPE gain: Crypto Markets Today

Crypto caught a modest bid on Thursday after Wednesday’s inflation report showed underlying price pressures staying contained. Bitcoin rose about 1.9% over 24 hours to roughly $62,600, leading the majors, per CoinDesk data.

Headline inflation rose 0.5% on the month and 4.2% over the year, the fastest annual pace since April 2023, but energy did most of the work, climbing 3.9% on the month and accounting for more than 60% of the increase as oil rose on the Iran conflict.

Core inflation, which strips out food and energy and is the gauge the Federal Reserve leans on, rose just 0.2% on the month, below the 0.3% forecast, and 2.9% over the year.

The bounce is shallow and concentrated in bitcoin. BTC is down less than 1% over the past seven days, holding its 200-week average, while the rest of the top tokens remain deep in the red on the week. Ether is off about 6.5% at roughly $1,651, XRP down 7.5% near $1.12, Solana down 7.4% around $65, and dogecoin off 7%. BNB held up better at a 2.1% weekly loss.

Traders now await Fed’s June 17 meeting, where markets expect no change to rates. The hot headline gives hawks cover to stay restrictive, while the soft core gives doves room to argue the pressure is narrow and energy-driven.

Another widely-cited catalyst is the public offering of Elon Musk-owned satellite, rockets and AI company SpaceX, which prices later Thursday and is expected to start trading on Friday at a $1.8 trillion valuation.

Shares for the company are already four times oversubscribed, with some singular entities bidding as much as $10 billion for the stock, per Bloomberg.



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The space economy’s next frontier is in ground infrastructure, Northwood Space CEO says

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The space economy's next frontier is in ground infrastructure, Northwood Space CEO says

In the last six years, a surge of satellites in orbit has triggered what Northwood Space Chief Executive Bridgit Mendler called the “infrastructure building era” of space.

Speaking at the Fortune Brainstorm Tech conference in Aspen, Colorado on Tuesday, Mendler emphasized how massive leaps in launch capacity and spacecraft manufacturing are supercharging the space economy. Satellites have evolved from isolated scientific missions into large constellations of thousands. And they all require the type of network routing Northwood builds, she said.

Northwood is focused on the ground segment, which Mendler described as the networking system linking Earth and space. Without this infrastructure, she argued, a satellites would be a “really expensive hump of metal up in space.”

“For a long time, the space economy has existed, but it’s been pretty niche,” Mendler said. “The economics are switching. You can see that that is leading to adoption and market share from major parts of the economy like telecom.”

SpaceX’s Starlink, which beams internet access to customers on Earth, currently has more than 10,000 operational satellites in low-Earth orbit, while Amazon’s Project Kuiper is racing to launch its own constellation of satellites. SpaceX and other companies also hope to eventually launch so-called orbital compute data centers. Companies are striking massive multi-billion-dollar deals to deliver AI compute services via space infrastructure.

The burgeoning space industry will get a big boost this week when SpaceX is expected to make its public market debut under the ticker SPCX at a $1.75 trillion valuation. The IPO is expected to raise $75 billion, making it the largest IPO in history, surpassing Saudi Aramco’s 2019 debut.

Northwood recently closed a $100 million Series B funding round led by Washington Harbour Partners and Andreessen Horowitz. The company is betting heavily on Earth-based data infrastructure. Its flagship product, named Portal, uses a network of smaller, individual antennas that work together as a single, powerful system designed to replace traditional parabolic dishes.

Mendler’s philosophy is that space networking should be a shared resource, akin to how cloud infrastructure supports tech startups. By providing this shared layer, Northwood aims to drastically shorten the timeline for new space ventures. What took industry leaders like SpaceX 20 years to build could soon be achieved in five, she said.

A Hollywood story

Mendler is a former Disney Channel actress, appearing in popular TV shows such as Good Luck Charlie and Wizards of Waverly Place. She said she views her Hollywood background as “traditional” for a space CEO because both industries require a high risk tolerance and the ability to beat significant odds.

She also views space-based energy as an exciting use case, noting that there is an “abundance of energy in space” which could help solve terrestrial energy supply concerns.

“Data is the way that you gather value from the space economy,” she said. “So, the more throughput you can get through space, the space economy directly grows.”

More from the 25th annual Fortune Brainstorm Tech conference:

Anthropic’s Boris Cherny, creator of Claude Code, says there are days he manages tens of thousands of AI agents at once

The AI industry spent years chasing bigger models. Now it’s chasing efficiency

‘Not an Allbirds Moment’: Xbox’s new CEO says she is grounding the console in gaming roots not AI



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Crude Oil Prices Finish Sharply Lower on US-Iran Peace Hopes

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moneyvests
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Crude Oil Prices Finish Sharply Lower on US-Iran Peace Hopes


July WTI crude oil (CLN26) on Tuesday closed down -3.10 (-3.40%), and July RBOB gasoline (RBN26) closed down -0.0495 (-1.61%).

Crude oil and gasoline prices fell sharply on Tuesday, with crude posting a 7-week low and gasoline posting an 8-week low.  Crude prices retreated on Tuesday as the ceasefire between Israel and Iran appears to be holding, which improves the prospects for a deal to end the US-Iran war and reopen the Strait of Hormuz.  Also, weakness in Chinese crude oil demand is undercutting oil prices. 

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Crude oil prices slumped on Tuesday after Iran and Israel agreed to end hostilities toward each other. President Trump today predicted a swift end to war with Iran and a subsequent fall in oil prices and said, “We’re in the final throes of what will be a very, very good deal, and that they could have at least an idea one or two days from now” about the deal.

Weakness in Chinese demand is bearish for crude oil prices.  China’s May crude imports fell to about 7.8 million bpd, the lowest in more than eight years.  China is the world’s largest crude importer.

However, crude prices recovered from their worst level on Tuesday after President Trump blamed Iran for shooting down a US military helicopter and said the US would respond, reigniting fears that the US-Iran peace plan is in peril and the Strait of Hormuz will remain closed, further tightening global oil supplies.

The outlook for higher US crude output is negative for oil prices.  The Department of Energy (DOE) on Tuesday raised its US 2026 crude production estimate to 13.72 million bpd from a May estimate of 13.65 million bpd.

Crude prices have support from the continued Ukrainian drone attacks on Russian oil infrastructure.   Last Monday, Bloomberg reported that Russia banned jet fuel exports after Ukraine’s attacks on Russian oil refineries reached a record high in May.  Russia’s refinery runs in May fell -13% y/y to 4.58 million bpd, the lowest since October 2009, according to data from Bloomberg. US and EU sanctions on Russian oil companies, infrastructure, and tankers have also curbed Russian oil exports.

The International Energy Agency (IEA) said in a monthly report released in May that global oil inventories declined at about 4 million bpd in March and April, and that the market will remain “severely undersupplied” until October, even if the conflict ends soon. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.

As a bearish factor for crude, OPEC delegates said on May 14 that the cartel aims to continue a series of oil quota increases over the next few months, completing the return of halted oil production by the end of September.  The group already formally agreed to restore about two-thirds of the 1.65 million bpd supply cutback it made back in 2023 and said it plans to raise output targets further and to revive the final portion in three more monthly stages.  On May 3, OPEC+ said it will boost its crude output by 188,000 bpd in June after raising production by 206,000 bpd in May, although any production hike now seems unlikely given that Middle East producers are being forced to cut production due to the Middle East war.  OPEC’s May crude production fell by -3.36 million bpd to a 40-year low of 16.33 million bpd. 

Vortexa reported on Monday that crude oil stored on tankers that have been stationary for at least 7 days rose +1.2% w/w to 86.59 million bbl in the week ended June 5.

The consensus is that Wednesday’s weekly EIA crude inventories fell by -2.2 million bbl, and gasoline supplies rose by +1.0 million bbl. 

Last Wednesday’s EIA report showed that (1) US crude oil inventories as of May 29 were -3.5% below the seasonal 5-year average, (2) gasoline inventories were -4.9% below the seasonal 5-year average, and (3) distillate inventories were -12.4% below the 5-year seasonal average.  US crude oil production in the week ending May 29 fell -0.1% w/w to 13.707 million bpd, mildly below the record high of 13.862 million bpd posted in the week of November 7.

Baker Hughes reported last Friday that the number of active US oil rigs in the week ended June 5 rose by +2 to an 11-month high of 431 rigs, well above the 4.25-year low of 406 rigs posted in the week ended December 19.  Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.5-year high of 627 rigs reported in December 2022.

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. This article was originally published on Barchart.com



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Bitcoin nears $60K as 50% supply sits in loss – Is FTX-style bottom repeating?

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moneyvests
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Bitcoin nears $60K as 50% supply sits in loss – Is FTX-style bottom repeating?


Following a decline of more than 2% in the last day, Bitcoin [BTC] was trading at $61,336.93 at press time—moving closer to the $60K mark.

That being said, the BTC dropped more than 24% in the last month, from $82k in mid-May to $61k at the time of publishing. 

The crypto community is divided

Given this significant decline, there seems to be disagreement within the crypto community. For instance, one analyst highlighted that the RSI for the Bitcoin market cap has fallen below its 2018 bottom. 

He said, 

RSI on the BTC marketcap has dropped
Source: X

However, another analyst saw the exact opposite trend, and noted, 

No BTC bottom has happenedNo BTC bottom has happened
Source: X

Interestingly, Wintermute, an algorithmic trading firm, claimed that there are no obvious indications that capital is returning. They further raised the flag that the market bottom has not yet been verified.  

Market Bottom Yet to Be ConfirmedMarket Bottom Yet to Be Confirmed
Source: Wintermute/X

According to Wintermute, institutional selling and ETF withdrawals in the US were the primary causes of the recent decline in Bitcoin. 

Where is the future trajectory of Bitcoin leaning? 

Therefore, to determine where Bitcoin is truly leaning, CryptQuant’s Bitcoin Supply in Loss, 7-day moving average, is the perfect on-chain metric.

Bitcoin Supply in LossBitcoin Supply in Loss
Source: X

As per the analysis, the indicator has risen above 50%. This indicates that, according to the price at which those coins last moved, over half of the circulating supply of BTC is currently being held at a loss.

Such levels have historically corresponded with times of extreme market pessimism and surrender.

In such scenarios, investors are more inclined to sell out of fear following protracted price declines. This indicator last crossed the 50% mark in November 2022, when Bitcoin was trading below $20,000 after FTX’s collapse. 

Furthermore, the profit and loss chart by Glassnode indicated that at the cycle peak, almost half of the total supply was profitable.

Supply in Profit/LossSupply in Profit/Loss
Source: X

As more than 8 million Bitcoins are submerged currently, that number has dropped precipitously, underscoring the magnitude of the most recent market reset. 

Is Bitcoin nearing stabilization or deepening volatility? 

In addition, AMBCrypto also stated that the bulls have further failed to raise the price. Swissblock’s Risk Index and Bitcoin ETF flow data, however, indicate that market conditions have changed toward a higher-risk environment, which is necessary to determine whether Bitcoin is truly stabilizing.

Risk Index + BTC ETFRisk Index + BTC ETF
Source: Swissblock/X

As the Risk Index rises to 100, the chart’s highest level, Bitcoin falls to about $61,000, indicating strong selling pressure. Meanwhile, there have been notable net outflows from U.S. spot Bitcoin ETFs, suggesting that institutional investors are lowering their exposure rather than increasing it. 

All in Swissblock put it best when they noted, 

Selling pressure is being absorbed again. The key now is to look for the first accumulation signals. As long as Risk stays in Capitulation Risk, Bitcoin remains under structural pressure.

Final Summary

  • While some market analysts believe the downtrend is still in place, others point to historically oversold RSI levels as a possible bottom signal.
  • Growing indications of surrender are evident in on-chain data, as CryptoQuant’s Bitcoin Supply in Loss metric crosses 50% for the first time since the FTX-driven bottom in November 2022. 



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The quantum clock is ticking: it’s Bitcoin’s problem, not Ethereum’s

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moneyvests
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The quantum clock is ticking: it's Bitcoin's problem, not Ethereum's

If bitcoin and Ethereum had been invented on the same day, nobody would have heard of bitcoin. I sold every bitcoin Bit Digital held and deployed the proceeds into Ethereum. I have built one of the largest corporate Ethereum treasury positions in the world and said, on the record, that we will never sell it. People have asked me to articulate the single strongest argument for that conviction. On March 30, 2026, that argument arrived. Last month, Citi confirmed it.

In a research note published on May 18, Citi analysts warned that quantum computing advances have shortened the timeline for practical attacks on digital assets, and reached a conclusion that should give every institutional bitcoin holder pause: bitcoin faces significantly greater quantum risk than Ethereum, and the gap between them comes down not just to technology but to governance.

That finding echoes the landmark paper released in late March by Google Quantum AI in collaboration with Stanford University and the Ethereum Foundation, which found that the computing resources required to break bitcoin’s foundational cryptography are approximately 20 times lower than previously estimated. A sufficiently advanced quantum computer, operating with fewer than 500,000 physical qubits, could derive a bitcoin private key from its public key in roughly nine minutes. That machine does not exist today. But the window to act responsibly is narrowing faster than most institutions realize. When Google raises the alarm, and Citi confirms it in the same quarter, this is no longer a fringe concern. This is the silver bullet. And it points directly at bitcoin.

Why bitcoin is exposed

Bitcoin’s security rests on elliptic curve digital signature algorithms. When you spend bitcoin, your public key is briefly exposed onchain. Under classical computing, reversing that to obtain a private key is infeasible. Quantum computers running Shor’s algorithm can, in principle, do exactly that during the brief window a transaction is broadcast. The Google paper doesn’t merely confirm this theoretically; it quantifies it with a precision that removes comfortable ambiguity.

Nic Carter, co-founder of Coin Metrics and one of the sharpest minds in digital assets, has been sounding this alarm for months. In a series of essays beginning in October 2025, Carter called quantum computing “the biggest long-term risk to bitcoin’s core cryptography” and accused developers of “sleepwalking towards collapse.” He estimates a quantum computer could meaningfully break elliptic curve cryptography as early as 2028. Approximately 6.9 million BTC could be vulnerable at a sufficient quantum scale, including legacy wallets and Taproot outputs, which already represented more than 21% of all bitcoin transactions in 2025.

Bitcoin’s governance problem

One might ask: can’t bitcoin simply upgrade? Yes, in theory. In practice, this is where the risk compounds.

Bitcoin’s governance is intentionally conservative and consensus-driven, which makes it extraordinarily slow. SegWit took roughly 8.5 years from conception to widespread adoption. Taproot took approximately 7.5 years. The current quantum proposals, BIP-360 and BIP-361, are still at the draft or early testnet stage as of 2026. A full base-layer transition to post-quantum signatures would be the most contentious change bitcoin has ever attempted. As Carter documented, most bitcoin Core developers have expressed limited concern about urgency, a disposition that is, at minimum, a serious governance liability for any institution holding bitcoin in treasury. A quantum breakthrough does not politely wait for committee consensus.

Ethereum has already acted

This is where the picture diverges sharply. Ethereum’s approach to quantum resistance is not a reactive scramble. It is a structured road map already in execution, built on the NIST post-quantum cryptography standards finalized in August 2024.

The Pectra upgrade, which shipped on Ethereum mainnet in May 2025, introduced EIP-7702, a critical stepping stone toward full account abstraction. Rather than requiring a single network-wide hard fork, Ethereum’s architecture allows individual accounts to choose their own signature verification and switch to quantum-safe signatures voluntarily. The upcoming Hegotá hard fork, planned for the second half of 2026, embeds this further at the protocol level. The Ethereum Foundation has set structured milestones targeting completion of core post-quantum infrastructure by approximately 2029, with active interop devnets already running across multiple clients.

The contrast with bitcoin’s governance paralysis could not be more stark. Ethereum was designed, in ways bitcoin simply was not, to accommodate exactly this kind of foundational upgrade. That is not an accident. It is architecture.

The institutional calculus

For corporate treasurers and sovereign wealth managers, quantum risk is no longer a tail scenario to be footnoted and dismissed. Governments are already treating it as operational. U.S. federal agencies faced an April 2026 deadline to submit post-quantum cryptography transition plans under National Security Memorandum 10. The EU has set a 2030 quantum-resistance target for critical infrastructure. The G7 Cyber Expert Group published a coordinated financial sector road map in January 2026. This compliance architecture will, over time, extend to digital asset treasury holdings.

The question for any institution holding bitcoin is whether they are comfortable with an asset whose quantum-resistance road map is still in draft, whose governance moves at geological speed, and whose developer community is divided on whether urgency is even warranted.

The question for any institution considering Ethereum is whether they want the asset with a structured, transparent, and already in motion upgrade path.

Ethereum is the more adaptive, more capable, and more durable asset. I have put the balance sheet of a Nasdaq-listed company behind that conviction. The Google paper is what finally gives that conviction a single, undeniable, technically grounded answer to the hardest question in digital asset treasury strategy: which asset is built to last?

Ethereum is not a perfect asset. No asset is. But in the context of quantum risk, it is the asset whose architecture was built to survive what is coming. If Carter and Google are right, that distinction will matter enormously, and sooner than most people expect.



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