What Is $WATER

On August 19, Morgan Stanley lowered its core revenue forecasts for Baidu (BIDU.O) for 2026 to 2028 by 1% to 9%, and cut its non-GAAP operating profit forecast by 6% to 31%, reflecting weak revenue and increased investments in artificial intelligence. Baidu's target price for U.S. stocks was significantly reduced by 38.5% from $130 to $80, which corresponds to a projected price-to-earnings ratio of 10 times for 2027. The rating was downgraded from 'Equal-weight' to 'Underweight'. (Jin Shi)

On August 19, according to statistics compiled by TradingBeats (formerly Hyperinsight), the trading journey of an address that profited over one million USD from YuTree contracts on Trade.xyz has not been smooth. In fact, this address lost nearly one million USD in the perpetual contract market last February, clearing its account and remaining dormant for six months. The turning point occurred in late March 2026. External address 0x6b9e began continuously transferring large amounts of USD to this address, accumulating over 8,000,000 USD. Meanwhile, this address received two distributions of HYPE from the Hyperliquid bridge in May and June 2026—5,504 HYPE (worth approximately 331,000 USD) and 6,956 HYPE (worth approximately 378,000 USD), totaling about 35,410 HYPE from three distributions. These funds were injected into the perpetual account, leading to explosive growth in trading volume after April 2026. However, the process was still challenging: around April 23, cumulative perpetual trading experienced a loss of 1.51 million USD—this was the deepest drawdown in the address's history. The real turnaround happened in late June 2026. From June 25 to 27, the whale's cumulative perpetual profit and loss surged from approximately 178,000 USD to 1,269,000 USD, generating over 1,000,000 USD in profit in just two days, and the account value jumped from 2,570,000 USD to 4,310,000 USD. Looking at its trading history, this whale executed 11 trades on the Hynix contract with a win rate of 63.64%, accumulating over 820,000 USD in total profit and loss. However, the address's most remarkable moments were all concentrated in the on-chain stock market, especially in trading YuTree Technology contracts. Recent trading records show that this address established an unusually large long position on UNITREE—holding over 30,000 units at one point, with a nominal value exceeding 4,000,000 USD, and subsequently closed positions in batches within the price range of 130–140 USD. As of the time of publication, this trade has yielded over 1.3 million USD in profit.

On August 19, Joey Chew, Head of Asian Foreign Exchange Research at HSBC, stated that as the yen gradually weakens again, the Bank of Japan has the opportunity to support the yen through a hawkish rate hike at its next meeting in September. The market currently expects the Bank of Japan to raise rates by a total of 80 basis points over the next 12 months, bringing the rate to 1.8%. Meanwhile, HSBC's economic research team now predicts that the Bank of Japan will raise rates twice more, in September and the first quarter of 2027, ultimately reaching a rate of 1.5%. Previously, HSBC only expected one rate hike from the Bank of Japan in December. In a report, Joey Chew pointed out that the sustainability of the yen's recovery depends critically on whether real interest rates become more attractive, whether fiscal concerns diminish, and whether Japanese residents shift from overseas assets to domestic assets.