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U.Today's news digest helps you take a closer look at the latest events in the crypto industry

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Don't miss anything happening in the world of crypto with U.Today's top three news stories over the past day.

The Ripple-SEC lawsuit has recently received an update as the judge has reportedly ordered the regulating agency to seal former SEC functionary William Hinman's documents in the case. The situation received many comments from prominent lawyers in the crypto sphere. Fred Rispoli opined that the summary judgment ruling seems to be nearing its completion, saying that the decision to unseal Hinman's emails is noteworthy. Jeremy Hogan agreed with Rispoli, noting that the order's phrasing might suggest that a significant portion of the Order on Summary Judgment may already be drafted. SEC enforcement specialist Mark Fagel has concurred with Rispoli's assessment, considering it a well-reasoned evaluation of the situation.

Yesterday, the Shiba Inu network witnessed unusual activity. Per data provided by IntoTheBlock crypto intelligence portal, the number of inflows from major holders increased by more than 20.1 trillion SHIB. A similar surge of this metric was last seen on March 23, and before that, in early January. It is worth noting that in both cases, Shiba Inu token inflows to the addresses of large holders were accompanied by similar-sized outflows. Thus, it can be concluded that there has been a redistribution from one large wallet to another. However, it remains unknown if these wallets are exchange wallets or if an individual investor is responsible for the actions.

As reported by crypto analytics firm Messari, in recent weeks, frog-themed crypto PEPE has demonstrated an impressive growth rate, surpassing Shiba Inu. According to the firm's data, when compared to SHIB, the average value per holder for PEPE, determined by the market cap value per holder, shows a similar but faster growth pattern. Owners of Pepe have made enormous profits as the altcoin's price has increased by around 5,000,000% in just a few weeks. This remarkable increase culminated in a peak price of $0.00000431, giving the coin a market cap of $1.8 billion, just over three weeks after its issuance in mid-April. However, since then, PEPE has lost most of its gains and is now trading down nearly 62%.

More here:
Ripple v. SEC Final Decision Ready, Lawyer Says, Large SHIB Holders' Inflows Skyrocket, PEPE Shows Quicker Growth Pattern Than SHIB: Crypto News...

Londons House of Fine Art (HOFA) gallery is one of the pioneers of the crypto art scene, being one of the first venues to showcase NFT artworks in a physical space back in 2021.

Back then, it took a somewhat conservative approach, focusing on prints of CryptoPunks alongside physical sculptures and NFT-adjacent work.

This time around, its "Beyond the Screen" exhibition is dialing up the digital element, with vibrant screens displaying eye-popping animated work by the likes of XCOPY, OSF and DeeKay. But the word NFT is nowhere to be seen.

NFTs are just a medium, said NFT artist and collector Ovie Faruq, aka OSF, who showed Decrypt around the space. It's just like, do I have my painting on an oil canvas, or do I have a photograph? Or do I have a screen displaying some digital art? It's just a canvas; it's just a mechanism to transact, he added.

Ultimately, he argued, people will start buying NFTs without knowing they're NFTs. And that's the sort of thing that will get us over this, like, stigma that's attached to it.

We haven't used the word NFT at all for this event, OSF added. The focus is meant to be, this is digital art; we want to display it in a way where people can resonate with it. That means shifting the focus away from prices and speculation and onto championing artists, he added.

Its somewhat ironic, then, that OSFs own contribution to the exhibition, Super Fan, inadvertently predicted the current PEPE-led memecoin market frenzy. The digital artwork, which OSF drew two or three months ago, features a kind of loner character whos obsessed with Pepe the Frog, and surrounded by market charts showing green and red candles.

It probably resembles a lot of people within crypto culture, OSF said. Maybe, like, the COVID era as well. Its meant to be a little bit satirical.

Also featured in the exhibition is XCOPYs MESCO TETROwhich none of the Americans got the reference of but obviously all of us do, said OSF, while conceding that, I still don't really know if its maybe based on Tesco plastic bags. The work was one of the last XCOPY minted on the SuperRare shared contract, he added. In the old days they had one shared contract, so all the artists would mint on this contract. After SuperRare allowed artists to mint on their own sovereign contracts, XCOPY announced that hed mint four final pieces on the SuperRare shared contract. He sold one of them, he gave one of them awayso someone made like 300,000 on the giveawayand this is one of the ones that was unsold, said OSF.

Other artists whose works appear in the exhibition include animator DeeKay and photographer Cath Simard. She does these crazy expeditions and hikes, super dangerous stuff, and she captures his moments and uses composites to create a final image, said OSF.

What the exhibition is aiming to showcase, said OSF, is that within the NFT art space, there are people with genuine intentions trying to achieve noble things. It gets dragged down by this association with crypto bro culture; thats not what any of these artists here are about.

"Beyond the Screen" runs at House of Fine Art until May 26.

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NFT Artist and Collector OSF: 'NFTs Are Just a Medium' - Decrypt

Cryptocurrency investors often weigh and rely on consistent influencer information, and BitBoy Crypto makes the list of trusted analysts. With a large and dedicated following, shares his expertise and regularly provides insights into emerging trends and investment strategies. He often guides on which cryptocurrencies are worth investing in, and he believes Shiba Inu, Pepe, and Avorak AI are prudent long-term investments for 2023.

Avorak AI (AVRK) is an AI-blockchain solutions provider with a comprehensive umbrella of simplified tools for blockchains, businesses, crypto traders, and investors. These real utility solutions include chatbots, trade bots, image generators, writing, and virtual assistants.

Avorak Trade helps in market analysis and price movement predictions, helping traders execute profitable trades. The tool works tirelessly 24/7 and can automatically execute crypto trading on the users behalf, depending on the set parameters. For example, one can instruct the bot to buy a given token when the price reaches a set limit or instruct it to make a shiba inu coin price prediction for a given period.

Avorak AI has gotten the eye of BitBoy Crypto with its outstanding ICO performance that has outperformed expectations. In phase six, AVRK at $0.235 signifies a 291.67% increase. Avorak rewards ICO holders with bonuses, reduced token prices, and privileges upon launch, like staking rights. AVRK will launch at $1 and will be listed on Coinsbit, LAToken, Azbit, and PancakeSwap. Avorak AIs successful CyberScope and SolidProof audits depict technically sound infrastructure and secure systems.

Avorak AI helps in content generation through Avorak Write, an advanced solution that eliminates repetitive text, common with the existing AI tools. Users can create marketing content, and platforms can use it to moderate educational content for their resource libraries.

Shiba Inu, a meme-inspired cryptocurrency, was created in 2020 as a Dogecoin killer. It has grown and fluctuated with the broader cryptocurrency market. BitBoy Crypto believes that Shiba Inu has strong potential for long-term growth and that it could continue to be a lucrative investment if it can continue developing more use cases. BitBoy notes the upcoming Shibarium blockchain as one of the drivers of SHIB demand and likely price increase. Avorak AI provides SHIB investors with a shiba inu coin price prediction solution through Avorak Trade. Its completion of the Shibarium blockchain will introduce impressive speeds and reduced gas fees for SHIB holders and could be an appealing new development for more investors.

Pepe coin (PEPE) is a recently launched meme-inspired cryptocurrency that created a buzz in the crypto world. It surprised investors by gaining a high market value within 24 hours of its launch. PEPE is an ERC-20 token and a member of the ecosystem of Pepe the Frog cryptocurrencies and NFTs. The Pepe Frog internet meme is popular among various groups, and the emergence of Pepe coin enables investors to trade Pepe collectibles on the Ethereum blockchain. With the addition of PEPE, there is now an increasing number of meme coins available in the market. Avorak Trade signals predicted its entry into the top 100 cryptocurrencies status.

BitBoy Cryptos predictions and insights offer valuable guidance for investors and traders in the fast and dynamic cryptocurrency market. Changes in the Crypto arena are so fast that traders may not notice, and watchers like BitBoy are a valuable source of information. In addition to influencer information, investors must research, and Avorak AI tools offer the best user-friendly solutions to crypto trading, making it the best for its real utility solutions.

Get more on Avorak AI and ICO here:

Website: https://avorak.aiBuy AVRK: https://invest.avorak.ai/register

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Influencer BitBoy Crypto is likely to hold Shiba Inu, Pepe, and Avorak AI for 2023 - CoinChapter

Prices of main crypto assets dipped further this week, with Bitcoin and Ethereum close to two-month lows. In the meme coin space, Pepe the frog had a tough week as Milady Meme Coin took the center stage after Elon Musk tweeted about it.

Meanwhile, big investments in Artificial Intelligence unveiled this week by big US corporate giants could fuel AI-related tokens, and Cardano got some support from the launch of its Layer 2 scaling solution Hydra.

Also read: Ethereum scaling solution Optimism price gears for recovery with this bullish catalyst from Worldcoin

Milady Meme Coin (LADYS), Pepe coin (PEPE) prices have declined as the meme season narrative loses its popularity among crypto traders. LADYS price nosedived 62% after hitting an all-time high of $0.00000017 on May 11 and PEPE lost 70% of its value from record high of $0.00000431 on May 5.

Experts at Santiment discussed in a recent report on meme coins how these tokens derive their value from speculation and catalysts like social dominance. As other narratives like Artificial Intelligence (AI) and Ethereum layer 2 gain prominence, the hype surrounding the two meme coins is likely to drop lower.

Read more here.

Find out more about PEPEs competitor Milady Meme Coin here.

As the spotlight shifts from meme coins, Artificial Intelligence (AI) tokens have made a comeback, starting their price recovery.

Several tech giants like Meta, IBM and Humane announced updates or released new AI products earlier this week, fueling the AI narrative. Render (RNDR), SingularityNET (AGIX) and Fetch.ai (FET) started their recovery from the pullback that followed the second-week of April 2023.

Top 5 AI tokens by market capitalization

As seen in the chart above, the top 5 AI tokens started their recovery after the recent round of announcements. Find out more about the tech giants updates here.

Among cryptocurrencies with a large market capitalizations, Cardano started its recovery with scaling solution Hydras mainnet release.

Hydra, Cardanos layer 2 scaling solution aims to increase speed, scalability and reduce transaction costs for ADA users. The launch of the scalability solution on Cardanos mainnet acted as a bullish catalyst, driving ADA price higher.

Ethereum-alternative Cardano started its recovery with 3% gains since Thursday. Hydras release on mainnet therefore fueled a bullish thesis for ADA.

Find out more about the Hydra release here.

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Weekly roundup: LADYS and PEPE prices drop, AI tokens recover, Hydra mainnet release drives Cardano higher - FXStreet

Coinbase chief legal officer Paul Grewal has issued an apology after the crypto exchange sent out an email labeling the Pepe the Frog meme as a hate symbol a move that prompted many users to call for a boycott.

In a May 11 tweet, Grewal said Coinbase had screwed up in sharing information about the Pepe meme, which included that it had been co-opted by many alt-right groups as a hate symbol. According to the Coinbase CLO, the exchange was attempting to provide a fact-based picture of a trending topic to its users.

The price of the memecoin Pepe (PEPE) has significantly surged in the last 30 days, rising to an all-time high of roughly $0.000004 on May 4. Exchanges including Binance, OKX, MEXC Global, Bitget, Gate.io, Gemini and Huobilisted Pepe trading pairs amid the online frenzy. Many users responding to Grewals apology also called on Coinbase to start listing the token.

Coinbases May 10 email prompted many Crypto Twitter users to call for a boycott of the exchange, claiming that Pepe was not a hate symbol to members of the space. The hashtag #deletecoinbase was trending on Twitter after pseudonymous user borovik.eth posted the Coinbase email.

Related: Coinbase execs visit UAE to test potential of strategic hub for international operations

I never felt the need to delete my Coinbase account based off some misinformed copy pasta newsletter intern, said Twitter user 6101.eth. I truly appreciate all CB is doing for crypto advocacy in the U.S. [I] for one am hoping to see an apology email with the correct info sent out at the very least.

At the time of publication, the PEPE price was roughly $0.0000013, having fallen by more than 27% in the last 24 hours.

Magazine: Crypto Pepes: What does the frog meme?

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'We screwed up' Coinbase CLO responds to outrage after exchange associated Pepe with hate groups - Cointelegraph