Bitcoin Booms While Ripple And Ethereum Continue Their Catfight

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Last Updated on 26 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin rises back up well above $62,000 today as the working week continued. Analysts expect it to break towards $70,000 in the near future. As Ethereum is also reaching ever higher price points, criticism is mounting on Vitalik Buterin’s coin, and it’s from a voice he doesn’t like very much.

For the period before 2020, the top three of cryptocurrencies had always remained steady. It was Bitcoin followed by either XRP or Ether. While Bitcoin and Ether have since surged to ever greater heights, XRP (and its company Ripple Labs) have gotten themselves in a fight with the SEC.

Ether CEO and founder Vitalik Buterin found out at the beginning of that trial that Ripple labs claimed that other rules were set for Bitcoin and Ether, which was unfair. Ever since then, Ripple labs CEO Brad Garlinghouse and Vitalik Buterin have not been the best of friends.

Last week, Ripple CEO Brad Garlinghouse (clearly annoyed by the long running SEC case against his coin) said that the reason Ether overtook his own XRP token by market cap was mostly by actions taken by the US Securities and Exchanges Commission (better known as the SEC).

Advertentie.

Hall pass

Back In December 2017, XRP became the second-largest crypto because of investor’s belief that Ripple labs could do great things in the cryptosphere. As the SEC started its case against XRP, the coin has since slipped to seventh place. Meanwhile Ether is firmly in second place.

Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped.

Garlinghouse claimed.

Vitalik Buterin, who once stated that XRP was a shitcoin, has not yet reacted to the accusation. His last recorded comment on the XRP versus SEC case was that:

The Ripple/XRP team is sinking to new levels of strangeness. They’re claiming that their shitcoin should not be called a security for *public policy reasons*, namely because Bitcoin and Ethereum are Chinese-controlled.

We have a feeling that whatever the outcome of XRP versus SEC, Vitalik and Brad will never become best of friends.

azarbico / Depositphotos.com