Crypto Daily Report – May 2

May 2, 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 FundstratMay 2, 2022It was an eventful weekend that saw many popular altcoins dip north of 10% as global fears surrounding economic slowdown and impending rate hikes permeated the crypto market. Many names have since recovered as bitcoin and ether trade 2.1% and 2.2% higher, respectively, over the last 24 hours. Leading smart contract platforms, including AVAX (+2.8%) and SOL (+0.4%), are also working to retrace to their Friday levels, while LUNA (+5.5%) is currently outperforming on the day, possibly due to the recent launch of UST on crypto lending platform Celsius Network. Funding rates for BTC and ETH remain mixed to start the week as investors position around an anticipated 50 bps rate hike from the Fed and the commencement of a balance sheet runoff following Wednesday's FOMC meeting.The Ethereum blockchain suffered major congestion issues Saturday evening into early Sunday morning following the launch of the Otherside metaverse project from Yuga Labs. The Otherside metaverse project sold out all the available 55,000 Othe

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CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -1.76% TESTING THE $65K LEVEL, ETH -1.00% TRADING AROUND $3500, AND SOL -1.96% APPROACHING $140. The ETHBTC ratio is declining again after a weekend relief rally sparked by news from Bloomberg ETF expert Eric Balchunas on Friday evening, clarifying his timeline for the ETH ETF launch. Meanwhile, the DXY continues its upward trajectory from the post-CPI selloff,...

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