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

Crypto Daily Report – May 12

May 12, 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 12, 2022The crypto market continues to struggle after yesterday's 10% crash. The total market cap is currently down 11% over the past 24 hours, and down almost 4% this morning. At one point in today's early hours, the market took a swing at going under $1T but bounced back from $1.08T to hovering around $1.22T at the time of writing. Bitcoin is outperforming the crypto market, but is still down 6% to $28.4k, at one point breaking into the $25k region. Ethereum has not been as lucky, dropping 15% to under $2000.During yesterday's crash, there was a lot of fear and concern around crypto and crypto-related assets. One of the biggest "scares" was around the fact that Coinbase technically owns and controls users' wallets, so the company came out with a statement warning users that, in the event of a bankruptcy, there might be a chance that users' holdings in Coinbase would be considered company assets and thus be subject to bankruptcy proceedings. Brian Armstrong, the CEO and co-founder of Coinbase, worked to assuage c

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 PCWOez71S1E Unsplash

U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC 0.53% (-0.28%) trading at $64k and ETH 0.04% ...

BTC ETH META QQQ SPY
Executium ClCAEiWideU Unsplash

The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...

BONK WIF
Executium TN 6BYSMrQs Unsplash

U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC 0.53% ...

MARA
Andre Francois Mckenzie Vh7U Z75L3U Unsplash

After significantly outperforming equities leading up to its halving event on Friday, BTC 0.53% continued its upward trend over the weekend, now trading just below $66k. ETH 0.04% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL -1.90% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...

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