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%.
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
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