Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

Morgan Stanley has overtaken Goldman Sachs to become one of the top three underwriters for stock offerings in ex-Japan Asia last month. So far this year, total issuance in the market has risen 55% year-on-year. According to compiled data, companies raised $162 billion via stock offerings in July, compared with $104.8 billion in the same period last year. Morgan Stanley’s market share climbed to 6.07%, surpassing Goldman Sachs’ 5.62%; China International Capital Corporation (CICC) remained firmly atop the underwriting rankings with a 13.1% share. ChangXin Memory Technologies completed a $9.84 billion fundraising in July, marking the largest single stock offering of the month.

A top strategist at JPMorgan says that despite the U.S. experiencing an "inflation rollercoaster," this won’t prevent the stock market from surging to record highs—the S&P 500 is still set to rise roughly 10% over the next 12 months. Kriti Gupta, Executive Director and Global Investment Strategist at JPMorgan Private Bank, projects the benchmark index will reach around 8,200 by mid-next year. JPMorgan argues inflation alone is insufficient to derail the stock market’s long-term upward momentum. Gupta notes the core foundations supporting the bull market remain solid: one key reason is robust economic growth. The ongoing expansion of the U.S. economy has fostered confidence among businesses and investors even as inflation concerns persist. Another major driver is the massive market demand for artificial intelligence (AI). Gupta forecasts U.S. stocks will continue delivering double-digit returns this year.

UBS has released a research report stating that it has lowered SK Hynix’s target price from 3.2 million Korean won to 3 million Korean won, while maintaining its "Buy" rating. The valuation is based on a forecasted price-to-book ratio of 3.65x (previously 3.67x), corresponding to a projected long-term return on equity (ROE) of 40.2% (previously 42.3%) and a cost of equity of 11.5%.

According to Hyperinsight’s monitoring data, over the past 24 hours, the open interest (OI) value of Micron (MU) on Hyperliquid decreased by approximately $39.372 million to $173 million; SK Hynix (SKHX) OI fell by about $64.124 million to $352 million. The two combined saw an OI outflow of roughly $103 million, with declines of 18.5% and 15.4% respectively. Over the same period, SanDisk (SNDK) OI rose from around $88.122 million to $120 million, an increase of $32.114 million or 36.4%, making it the only stock among the Big Three memory chip makers to record OI expansion. SNDK gained approximately 0.6% in the past 24 hours, MU rose around 0.3%, while SKHX dropped about 1.1%; SNDK outperformed MU by roughly 0.3 percentage points and SKHX by around 1.7 percentage points respectively. Position changes of large-balance addresses show: - SNDK: New positions currently lean long. Over the past 24 hours, one address added ~$2.515 million worth of SNDK longs, with no single address reducing longs by over $1 million or adding new shorts. - MU: Two addresses added a total of $3.428 million in longs, while two others cut longs by $2.587 million, resulting in a net long addition of ~$841,000; over the same period, two addresses added ~$2.858 million in new shorts, with incremental volume leaning bearish. - SKHX: No new addresses added, existing whales continue deleveraging. Million-dollar-level addresses net reduced longs by $6.811 million; shorts net decreased by $9.208 million. Top funds are leaning defensive: - MU has 14 long addresses and 18 short addresses, with long positions worth ~$46.108 million and short positions ~$66.543 million; - SKHX has 37 long addresses and 42 short addresses, with long positions worth ~$104 million and short positions ~$136 million; - SNDK has 12 long addresses and 10 short addresses, with long positions worth ~$37.441 million, still lower than short positions of $46.782 million.

According to Bitget’s market data, Nanfang’s 2x long SK Hynix product dropped 15.1%, while its 2x long Samsung Electronics product fell 12.55%.

According to mempool data, at 10:11:00 today, an independent Bitcoin miner successfully mined block 960804, earning a block reward of 3.157 BTC, worth approximately $199,300.