Morgan Stanley: Semiconductor boom cycle far from over, cloud capital expenditure could surge to $1.3 trillion by 2027

South Korean brokerage Korea Investment Securities released a research report on July 31, raising Samsung Electronics' target price by 10% to 650,000 won and maintaining a "buy" rating. The firm noted that the market is still pricing Samsung based on traditional cyclical stock logic, but is overlooking that long-term supply agreements are driving its memory business to transition from "cycle-driven" to "order-driven". It added that Samsung’s earnings stability, performance predictability, and valuation center are all expected to improve, with its current stock price deemed "significantly undervalued".

Renowned crypto analyst PlanB posted that Bitcoin closed at $62,818 in July, with its 200-week moving average standing at $63,000. It appears Bitcoin has entered a bottoming process, which typically takes 1 to 3 months, during which BTC could dip to lower levels.

According to GMGN market data, the meme coin ASTEROID on BNB Chain has seen its market capitalization fall below $3 million, with a 52.59% decline in 20 minutes. In an earlier report, BNB Chain officials stated that a former employee had issued the new meme token ASTEROID without authorization using the original official test wallet, and legal action has been taken.

BNB Chain released an official statement saying a wallet address was previously created by a former employee, who used it to issue a meme token named TST as part of video tutorials. The employee is no longer with the company. After leaving his position, he retained unauthorized access to the associated seed phrase and used it to generate new private keys. BNB Chain has now learned that the same address is being independently used for activities related to a new meme token, ASTEROID, on BNB Chain. BNB Chain did not create, authorize, promote or participate in the issuance of this token, nor does it have any control over the token or the wallet address. These matters are unrelated to BNB Chain and have not been endorsed by the platform. BNB Chain is taking legal action against the former employee and cooperating with relevant government agencies regarding the incident. Earlier reports noted that the BSC ecosystem meme token ASTEROID hit a $10 million market cap in just four hours after its launch.

，Bitfinex 分析师发布报告表示，此前在 6 月底的比特币抛售中，衍生品交易者已基本被清洗出局。比特币在 7 月 1 日跌破 58,000 美元，此后日均清算金额一直远低于今年典型的 4 亿至 5 亿美元区间，表明尽管出现宏观冲击，但强制抛售压力很小，「加密市场跌幅小于杠杆股票主题，是因为强制抛售的『燃料』已经耗尽。」Bitfinex 分析师预计，投资者在下周美国就业报告（美联储会议后的下一个主要宏观催化剂）前将保持防御性。他们认为，与其担心新一轮强制清算，更关键的问题是现货比特币 ETF 资金流入能否在市场对美联储路径有更清晰判断后重新回归。分析师写道：「我们认为，在美联储加息风险仍存的情况下，仓位将保持防御性。机构买家是否积极或对价格不敏感，才是交易者尚未出现的信号。」

Arthur Hayes(@CryptoHayes) sold 6.16M $SYN ($658K) and bought 3.05M $ENA ($248K).