US Stock Futures Dive Further

Perpetual contract protocol HertzFlow, backed by YZi Labs, has officially launched mainnet trading. Users can trade, provide liquidity (LP), and refer friends to earn Merit points. The earlier Genesis Vault pre-deposit campaign has concluded, with early participants (Genesis early birds) receiving 230,000 WLFI tokens as allocation. The project has now added an extra 390,000 WLFI tokens as liquidity incentives to the USD1 Vault. The campaign runs until August 31, has no cap, and is open to all users. Eligible users (those who participated in the pre-deposit or were active on the testnet) can access the mainnet directly, while new users require an invitation code. It currently supports BTC, ETH, and BNB trading pairs, with more markets to be expanded in the future. According to the introduction, HertzFlow aims to build a permissionless leveraged trading market for oracle-backed assets, and further activate on-chain liquidity on BNB Chain via composable DeFi strategies, converting more on-chain funds into yield-generating liquidity assets.

According to market data from BIT (bit.com), the Dow Jones Industrial Average rose 0.13% at the opening of US stock trading, the S&P 500 fell 0.19%, and the Nasdaq dropped 0.4%. All crypto-related stocks advanced, with gains as follows: Strategy (MSTR) up 2.7%, Coinbase (COIN) up 2.4%, Circle (CRCL) up 3.5%, BitMine Immersion (BMNR) up 3.7%, and SharpLink Gaming (SBET) up 2.65%.

According to market data from BIT (bit.com), U.S. chip, semiconductor and storage sectors fell broadly after the U.S. stock market opened. The Philadelphia Semiconductor Index dropped 2%, with individual stock declines as follows: Micron Technology (MU) fell 5.5%; SanDisk (SNDK) plunged over 9%; Seagate Technology (STX) fell 4.48%; Western Digital (WDC) dropped 4.1%; SK Hynix ADR fell 5.5%; NVIDIA (NVDA) declined 0.66%; Intel (INTC) fell 3.3%; Advanced Micro Devices (AMD) dropped 2.6%.

According to on-chain analyst Ai Yi (@ai_9684xtpa), 10 addresses linked to BIT collectively hold over $323 million worth of long positions in ETH and BTC, with unrealized profits exceeding $41.95 million. Specifically, ETH long positions stand at 65,977.9684 ETH, valued at $165 million, generating over $15.08 million in unrealized profit; BTC long positions total 2,000 BTC, worth $158 million, with unrealized profits exceeding $26.87 million.

Aethir today announced the launch of its ACCELERATE strategic project, securing rights to use 10 AI data center sites in the U.S. and Europe, with a total capacity of up to 20 megawatts. The company disclosed that once these sites are fully completed, their total contract value will exceed $2 billion, with up to $700 million in contracts expected to be realized by the end of 2026. The sites support NVIDIA B300 and GB300 clusters, with node sizes ranging from 64 to 256, and deployment cycles are measured in months rather than the multi-year construction timelines of traditional data centers. Aethir also announced an update to its IDC token economic policy, introducing a token burn mechanism and a floating platform fee. The Aethir Foundation holds equity in Axe Compute.

Analyst qinbafrank published a note interpreting the bullish news that the U.S. Treasury may deploy nearly $1 trillion to fund an expansion of the U.S. Treasury bond repurchase program. Market reports suggest Treasury Secretary Scott Bessent may use funds from the Treasury General Account (TGA) to repurchase Treasuries, but the actual available amount is far smaller than market expectations. Since the implementation of the Prudent Cash Balance Policy in 2015, the TGA typically needs to cover the U.S. government’s weekly fiscal cash needs, including social security, Medicare, military spending, Treasury bond interest, and maturing principal, among other obligations. An analysis submitted by the Treasury to the Treasury Borrowing Advisory Committee (TBAC) in May 2026 shows that, based on 2024 actual cash flow data, average weekly cash outflows have reached roughly $595 billion, and can exceed $1 trillion during periods of large Treasury maturities or concentrated end-of-month spending. Current estimates peg the "controllable range" for maintaining normal weekly operations at around $700 billion, meaning the actual amount of funds available for deployment in the near term is only about $200 billion—far from the trillion-dollar level the market had anticipated. More importantly, after these funds are exhausted, the Treasury will still need to quickly replenish the TGA by issuing new debt, a process of rebuilding the cash buffer that will create a new liquidity drain on the market. Bitcoin has a close correlation with U.S. dollar liquidity: a decline in the TGA releases dollar liquidity, supporting risk assets, while TGA replenishment tightens liquidity again. Therefore, even if short-term TGA spending brings a temporary boost to the market, subsequent debt replenishment may instead exert pressure, and the market should not place excessive expectations on this single tool.