$WATERWATER Price

On August 23, according to official data, in the 7 days ending August 20, Circle issued approximately 7.5 billion USDC and redeemed about 6.7 billion USDC, resulting in an increase of approximately 800 million in circulation. The total circulation of USDC stands at 72.7 billion, with reserves amounting to approximately 72.9 billion USD, including about 48.1 billion USD in overnight reverse repurchase agreements; approximately 12.7 billion USD in Treasury bills with maturities of less than 3 months; approximately 11.4 billion USD in deposits from systemically important institutions; and about 700 million USD in deposits from other banks.

On August 23, according to official data, in the 7 days ending August 20, Circle issued approximately 7.5 billion USDC and redeemed about 6.7 billion USDC, resulting in an increase of approximately 800 million in circulation. The total circulation of USDC is 72.7 billion, with reserves amounting to approximately 72.9 billion USD, which includes overnight reverse repurchase agreements of about 48.1 billion USD; treasury bills with maturities of less than 3 months totaling about 12.7 billion USD; deposits from systemically important institutions of about 11.4 billion USD; and other bank deposits of about 700 million USD.

On August 23, Goldman Sachs noted that this week's market trend is characteristic of a typical deleveraging phase, similar to the underlying logic of the July sell-off. The Goldman Sachs high-beta momentum portfolio fell 12% this week, while the AI hedge portfolio dropped 10% over five days. Although the leverage levels in the AI sector have retreated from extreme highs, inertia-driven capital continues to push for rapid and indiscriminate buying on dips. Goldman Sachs stated that AI trading is not over, but the phase of obtaining excess returns through overall sector gains is changing, and current focus should be on opportunities where stock prices significantly diverge from earnings per share. Among these, the valuation gap in the storage and data center sectors is most pronounced, with profit recovery not yet fully reflected in stock prices, making them the most tactically attractive. Nvidia's Q2 earnings report and the industry conference in September will serve as subsequent catalysts. Meanwhile, the momentum factor is being recalibrated, with software replacing semiconductors as the largest weight in the three-month momentum long portfolio, while the semiconductor and AI complex has entered the short portfolio. Goldman Sachs mentioned that capital is also shifting towards previously overlooked areas such as European and Japanese banks, gold miners, and copper stocks.