Crypto Daily Report – May 11

May 11, 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 11, 2022Crypto markets are off to a chaotic start today, with extreme volatility in higher-risk altcoins. Luna is at the center of this volatility, down a shocking 73% today and down ~98% from its high last month. This collapse is due to its algorithmic stablecoin UST de-pegging from the US dollar earlier this week and falling to as low as ~22 cents (see our weekly report from yesterday: "The UST Unwind and its Implications" for more detail). Other smart contract platforms Solana and Avalanche, are down 20.5% and 27.28%, respectively. Despite the damage in more volatile altcoins, Bitcoin and Ethereum are showing signs of resiliency, with BTC down 2.4% and Ethereum down 6.0%. This is likely a "flight-to-quality" among crypto assets as investors sell off their riskier positions after witnessing Luna's collapse. Coinbase (COIN) shares fell more than 20% on Wednesday to ~$56 after the crypto exchange reported first-quarter revenue below estimates and weaker trading volumes. Analysts still see Coinbase as a "blue-chip

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CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -0.56% TESTING THE $65K LEVEL, ETH -3.22% TRADING AROUND $3500, AND SOL -5.00% 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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