A crypto pundit has expressed his bullish outlook on XRP and other protocols that he claims have no ties to the Chinese Communist Party (CCP), China’s ruling party, as he positions them to benefit most from the upcoming bull run.
In a recent post, influential crypto commentator BoringSleuth hinted at a strategic advantage for cryptocurrencies not entangled with the Chinese Communist Party (CCP) in the upcoming bull market.
According to him, protocols avoiding association with the CCP would thrive in the coming market cycles. BoringSleuth singled out Constellation (DAG) as a prime example. He also pointed to XRP as another well-positioned asset.
The protocols that weren’t in bed with the CCP will be the benefactors of future bull cycles. A protocol like $DAG, who works with the DOD is one example of a well positioned protocol. $XRP is another.
— TruthLabs ? (@BoringSleuth) November 11, 2023
It bears mentioning that Constellation boasts ties with the U.S. Air Force in a Department of Defense (DoD) partnership that started in 2019. Details of the partnership came to light in August 2021, with the Phase II of the collaboration announced to have been completed in May this year.
XRP Boasts Robust Potential
Furthermore, BoringSleuth’s endorsement of XRP stems from the robust potential the asset holds. The mention of XRP’s detachment with China also prompts a closer look at the ongoing rivalry between the XRP and Ethereum communities.
As both assets vie for market dominance, their supporters have continuously engaged in heated debates. Last August, Ethereum founder Vitalik Buterin said XRP lost its right to protection when Ripple executives threw Ethereum under the bus in claims that the project is “Chinese-controlled” during the SEC’s lawsuit.
Nonetheless, amid XRP’s victory in the lawsuit, BoringSleuth’s nod to the asset suggests a belief in its resilience and potential to capitalize on the forthcoming bullish trends. The XRP community has also repeatedly propagated claims of Ethereum’s ties to China.
Claims of Ethereum Ties to China
Several pundits have jumped on this narrative, and BoringSleuth is one of them. Although his recent post does not specifically highlight this, he had previously taken to X to express his concerns.
Buterin has also claimed that XRP is centralized, yet people still consider it a crypto asset. Last month, BoringSleuth accused Buterin of securing funding from CCP-affiliated entities in the project’s early days.
The post unfolded a narrative wherein over 66% of ETH tokens prior to the Merge allegedly entered into wallets associated with China-backed entities, including the Ethereum Foundation.
The allegations extended to Ethereum’s pre-sale and ICO backers, claiming they received funds through Wanxiang Blockchain, an entity with connections to China. The Crypto Basic spotlighted these claims in June, as disclosed by Fox Business journalist Eleanor Terrett.
BoringSleuth contended that these entities, purportedly responsible for financing a significant portion of the crypto ecosystem, have manipulated and controlled various aspects of the industry.
He also questioned the decentralization of Ethereum 2.0’s Proof of Stake model, asserting that the system has never been genuinely decentralized.
He argued that blockchain has lost its identity. According to him, those who fear loss of power, wealth and influence have hijacked the crypto scene. He alleged that these entities used corruption and theft to gain control over the crypto landscape.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
