Crypto Daily Report – May 16

body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightMay 16, 2022For the first time in its brief history, bitcoin closed its seventh consecutive negative week, a sign of the unprecedented macro conditions currently weighing on cryptoassets. After a short-lived relief rally over the weekend, the global crypto market has pulled back in concert with legacy risk assets. Despite the US 10Y trading lower, the S&P 500 has fallen 0.7%, and the Nasdaq is down 1.2% at the time of writing. Bitcoin (-1.6%) and ether (-2.7%) continue to face resistance around the $30k and $2k levels, respectively. Meanwhile, other smart contract platforms such as SOL (-1.4%), AVAX (-6.1%), and DOT (-2.3%) are lower but holding up relatively well compared to their reflexive downside performance last week. Figure: Stablecoin PricesFollowing the collapse of UST last week, other algorithmic stablecoins are starting to show cracks across the crypto ecosystem. Deus Finance's DEI stablecoin appears to be the latest victim of market tumult. While not nearly the size of UST, the partially collateralized alg