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Crypto Daily Report – May 9

May 9, 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 9, 2022Global markets continue to flounder in the face of rising rate expectations and inflationary concerns. Traditional equity markets opened with a 500-point decrease in the DJIA and a 3% decline in the Nasdaq. Meanwhile, the S&P 500 is flirting with the $4k-level, and the US 10-year is sitting firmly above 3.1%. Thus, it is no surprise that the global crypto market is trading 5.8% lower at the time of writing, with bitcoin (-5.7%) reaching a YTD low and ether (-5.6%) in danger of doing the same. As anticipated, it has been an even bloodier market for alts, with leading layer-1s such as SOL (-9.0%), AVAX (-8.2), and LUNA (-9.6%) reacting in an outsized fashion to the market-wide selloff (More on the LUNA price action below). Figure: BTC vs. The US 10YAs asset prices continued to sink over the weekend, concern grew over the ability of UST, a leading algorithmic USD stablecoin, to maintain its peg to the dollar. UST decreased to $0.985 per UST for a brief period on Saturday evening as selling pressure for bo

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