Crypto Daily Report – June 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 FSInsightJune 16, 2022Crypto markets retraced nearly all of yesterday's short-lived gains, with bitcoin falling 7.76% and ethereum falling 12.17%. U.S. equity markets also fell as SPX and NDQ dropped 3.0% and 3.55%, respectively, immediately upon the market opening. This correction comes after the Federal Reserve raised interest rates 75 bps in yesterday's FOMC meeting, signaling hawkishness due to rising inflation. While altcoins rallied sharply from their lows yesterday (Solana went as high as 40% from the low), most of these rallies were given up today. Solana is down 12.87%, Avalanche is down 13.05%, and Near is down 14.54%. Fear in the market remains high as many market participants worry of possible contagion from rumors regarding the insolvency of CeFi lending platform, Celsius, and hedge fund, Three Arrows Capital.USDC issuer, Circle, has announced that they are introducing a euro-backed stablecoin at the end of the month. The Euro Coin (EUROC) will be fully backed by euro-denominated reserves held in the custody of in