Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Crypto Daily Report – May 11

May 11, 2022
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 11, 2022Crypto markets are off to a chaotic start today, with extreme volatility in higher-risk altcoins. Luna is at the center of this volatility, down a shocking 73% today and down ~98% from its high last month. This collapse is due to its algorithmic stablecoin UST de-pegging from the US dollar earlier this week and falling to as low as ~22 cents (see our weekly report from yesterday: "The UST Unwind and its Implications" for more detail). Other smart contract platforms Solana and Avalanche, are down 20.5% and 27.28%, respectively. Despite the damage in more volatile altcoins, Bitcoin and Ethereum are showing signs of resiliency, with BTC down 2.4% and Ethereum down 6.0%. This is likely a "flight-to-quality" among crypto assets as investors sell off their riskier positions after witnessing Luna's collapse. Coinbase (COIN) shares fell more than 20% on Wednesday to ~$56 after the crypto exchange reported first-quarter revenue below estimates and weaker trading volumes. Analysts still see Coinbase as a "blue-chip

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Executium 5fV7rmw9Mcs Unsplash

Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC -1.50%  briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH -1.08%  followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL -0.88%  has shown remarkable resilience amid the turmoil, now...

AR
Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

Traditional markets are finding some relief in Thursday’s trading after four consecutive sessions of losses. The SPY and QQQ have gained approximately 0.30%, while the IWM (+0.99%) is showing outsized gains. Crypto markets are finding larger relief, with $BTC rising 3.92% to $63.7k, and $ETH gaining 2.71% to exceed $3,050. Injective ($INJ) is one of the leading tokens today, gaining 9.37% following news of a partnership with JamboPhone to bring blockchain-powered financial solutions to emerging markets. JamboPhone...

Art Rachen YJpjLD3c9bU Unsplash

Equities and crypto assets are selling off in tandem today as inflation and geopolitical fears have spooked risk assets. The SPY and QQQ have decreased by 0.46% and 0.92%, respectively, while crypto is selling off more aggressively. $BTC (-5.49%) has tested the high $59,000s and $ETH (-4.42%) is trading below $3,000. Among a sea of red, $SUI is showing relative strength, gaining 6.44% on the back of a partnership announcement with...

SUI
Bitcoin rises back toward record as first related U.S. ETF begins trading

Risk assets remain under pressure as the DXY's relentless rally has continued, now approaching its 2023 highs, currently at 106.5. Rates continue to move higher, with the 10Y now reaching a new year-to-date high of 4.7%. Gold continues its upward march amid persistent geopolitical tensions. Crypto remains weak in the face of rising rates, geopolitical risks, and tax season. $BTC continues to range between $61K and $63K following yesterday's afternoon...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In