Thursday, June 20, 2024
HomeCryptocurrencyPundit Says Assets Like XRP Without Ties to China's CCP Will Benefit...

Pundit Says Assets Like XRP Without Ties to China’s CCP Will Benefit From Coming Bull Cycle

An X app crypto influencer, BoringSleuth, has taken to his official handle to call the attention of his teeming followers to what could potentially play out in the crypto bull market, especially as it involves the Chinese Communist Party (CCP). 

According to the crypto pundit, digital assets and other protocols, which are not in sync with the CCP, would be the biggest winners of the forthcoming crypto bull market. In his tweet, BoringSleuth highlighted Constellation DAG and XRP as perfect examples to drive his point.

Read Also: Expert States Why the SEC Can’t Ask Ripple To Pay $770 Million in Penalty For XRP Institutional Sales

“The protocols that weren’t in bed with the CCP will be the benefactors of future bull cycles. A protocol like $DAG, which works with the DOD, is one example of a well-positioned protocol. $XRP is another,” BoringSleuth tweeted.

For context, the DOD in the tweet above represents the Department of Defence in the United States Air Force. 

XRP And Ethereum China Links 

XRP and Ethereum rivalry seemed to mainly stem from the individual token’s link with China’s CCP. Unlike XRP, which has no connection with the CCP, Ethereum is known to maintain ties with China, spurring heated debates among these coin users. 

Evidence of the vendetta existing between Ethereum and XRP was a scenario that occurred in August 2022, while the legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) appears heated up. 

In the heat of the dispute in 2022, Ethereum founder Vitalik Buterin asserted that XRP had lost its right to protection. He stated this in response to Ripple executives tagging Ethereum as a Chinese-controlled project. 

Ethereum And China’s CCP Escapades 

Ethereum’s ties with the Chinese communist party have always been a source of concern among crypto influencers and other users. BoringSleuth remains one of the most outspoken pundits who has never ceased to relay his takes on the issue. 

While Buterrin seemed to constantly claim that Ethereum is a decentralized project, BoringSleuth had in the previous month accused the Ethereum founder of obtaining findings from CCP-affiliated companies during Ethereum’s early days. 

In his tweet, exposing Ethereum’s early days’ antics,  BoringSleuth asserted that more than 66% of ETH tokens before the merger ended up in wallets owned and controlled by Chinese-supported firms, including the Ethereum foundation.

Read Also: Ripple’s Partner Whopping XRP Holdings Revealed. Are They Preparing For Massive Price Pump?

In addition, BoringSleuth questioned the Presale and Initial Coin Offering (ICO) backers, which he asserted were heavily funded by Wanxiang Blockchain, another China-based company. 

<

He also challenged the truth behind the decentralized Ethereum 2.0 proof of stake model. According to him, the prototype was never decentralized, part of his tweet described the decentralization scheme as, “Sorry, it’s not. It’s never been. Not even close. All smoke and mirrors. Propaganda 3.0.”

Summarily, BoringSleuth was bent on emphasizing that Ethereum might have lost control as power appears to belong to those financing the project. He added that crypto had also lost identity because of this particular issue.

An extract from his tweet read thus, “Crypto was hijacked by those that it threatened the most. Those who feared loss of power, influence, control, & wealth. They used corruption and theft to gain control over Crypto, all while having tools built to further monitor and control our daily lives.”


Follow us on Twitter, Facebook, Telegram, and Google News

Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.
RELATED ARTICLES

Latest News & Articles