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Crypto Daily Report – May 10

May 10, 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 10, 2022Recovering from an 11.7% selloff yesterday, BTC is trading at $31.4k at writing, representing a 4.3% gain on the day. ETH closely follows suit, up 5.7% with 1.32 implied 24h BTC beta. Majors Solana and AVAX are trading at 8% and 11% premium over the last 24 hours, while LUNA has retraced 46% due to its UST de-peg event. Altcoins are correlated with the majors as markets take a breather from Terra ecosystem's death spiral transpiring over the last 48 hours. As UST is currently trading at a 10% discount to the US Dollar, Do Kwon and team are fundraising from institutions to restore the peg. Even if they succeed, it is premature to conclude whether trust in the algorithmic stablecoin will return with the re-peg. In this week's crypto weekly, our Head of Digital Assets Strategy Sean Farrell dives deep into the sequence of events that de-pegged leading algorithmic stablecoin TerraUSD (UST). We could see this event being used as ammunition by regulators looking to bring all stablecoins under strict KYC regulati

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