Crypto Daily Report – May 11

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