The competition between Ripple and Ethereum has been a long-running one given the capabilities of both networks. This was further exacerbated by the fact that the US Securities and Exchange Commission (SEC) chose to bring a lawsuit against Ripple over XRP being allegedly a security but the same was not done about Ethereum’s ETH token.

Both communities have since been at loggerheads with each one trying to prove that they’re better than the other. As a result of this, a video from 2014 has been dug up where Ethereum founder Vitalik Buterin seems to be praising Ripple.

‘Ripple Is The Internet Of Value’

In the video that was posted by X (formerly Twitter) user @NerdNationUnbox, Buterin seems to be very convinced about the value proposition of Ripple. The setting which suggests a talk at an event featured a young Vitalik Buterin talking about what Ethereum is really about.

The 14-second video seems to be focused on the ‘internet of value’ which the Ethereum founder explained that people often think Ethereum is about. However, as he explained, Ethereum is not the internet of value. Rather, the founder said that Ripple is actually the internet of value.

Internet of value is actually a concept that was presented by Ripple which looked to build an Internet that makes it easy for people to transfer any asset of value seamlessly between themselves. It consists of any asset that could be valuable including information, internet currencies, stocks, etc, to be transferred instantly to someone.

Ethereum Founder Really A Fan Of XRP?

Steven Nerayoff who has become widely known in crypto circles as the ‘Ethereum Whistleblower’ is back once again and going for Vitalik Buterin. In an October 13 post, Nerayoff tagged Buterin, whom he describes with #CryptoJudas, saying that he actually wanted to be XRP.

Nerayoff attached a screenshot of a deleted tweet from the Ethereum founder talking about XRP as sound money. “But he’s so shy he deleted his tweet which is in this article stating that XRP is ‘better sound money than Bitcoin’,” Nerayoff wrote.

Source: X

However, as other X users have pointed out, Buterin seemed to actually be making fun of XRP in the tweet. Responding to another user who presented Bitcoin as sound money, Buterin said “The chart for XRP/XRP would look the same”, but his use of ‘TM’ with the terms Institutional adoption and Partnerships suggests he was not being serious as this has been an established way to joke about something on the internet.

Nevertheless, the post is still very open to interpretation and there have been responses from both sides. One Ripple community member stated:

This is the same guy who a few months earlier was rejoicing when XRP was attacked by the SEC, he also was angry that Chris Larsen had suggested the Chinese had too much influence in BTC and ETH.  XRP really hit a nerve not because we were wrong, but because we could see through his scammy games.

XRP mounts impressive recovery | Source: XRPUSD on Tradingview.com

Featured image from The Cryptocurrency Post, chart from Tradingview.com

Bitgert price has crawled back in the past few days as investors cheer its ecosystem growth. BRISE, its native token, rose to a high of $0.0000092, which was the highest level since August 7. It has surged by over 162% from the lowest level this year.

Bitgert TVL soaring

Bitgert is a relatively small but fast-growing blockchain project that seeks to become a leading player in the industry. It is an Ethereum-killer that is substantially faster and cheaper to operate. According to its developers, it is able to handle thousands of transactions per second (tps). 

Bitgert is also significantly cheap to operate since it can handle millions of transactions for pennies. Some of the top applications created in Bitgert are Knit Finance, Midas NFT Marketplace, Briseswap, and Icecream Swap among others. $BRISE is the native token for Bitgert’s ecosystem.

Bitgert price has risen in the past few days as investors cheer the sudden growth of its ecosystem. According to DeFi Llama, Bitget has seen its total value locked (TVL) soar from almost zero to over $9 million. 

This growth has been mostly because of Spynx, which has a TVL of over $6 million. IcecreamSwap has a TVL of over $2.1 million. Therefore, analysts believe that the TVL will continue growing in the coming months.

The next key catalyst for the Bitget price will be the upcoming Jackson Hole Symposium event in the United States. In it, Jerome Powell, the Fed Chair, will have an opportunity to talk about interest rates now that inflation has started falling.

Bitgert price prediction

The four-hour chart shows that the BRISE price has been in a strong bullish trend in the past few weeks. As a result, the coin has become one of the best performing in the market. It has rallied above the 25-day and 50-day moving averages. 

Notably, this rally happened after the coin dropped to a low of $0.00000055, which was the lowest point on August 19. At the same time, it seems like it is forming a double-top pattern, which is usually a bearish sign.

Therefore, while the Bitgert price has some upside, there is a likelihood that it will soon pull back because of the double-top pattern. If this happens, the next key support to watch will be at $0.00000078.

The Navcoin price has staged a strong recovery in the past few days as cryptocurrency prices rebound. The NAV token rose to a high of $0.1385, which was the highest level since May 17th. It has risen by more than 186% from its lowest level this year. As a result, its total market cap has jumped to over $10 million.

What is NAV and why is it rising?

Navcoin is a relatively small cryptocurrency that was started in 2014. The developers’ goal was to solve some of the challenges that Bitcoin has. Most importantly, they wanted to solve the privacy challenges that the coin had. 

Navcoin solves the challenge of privacy by ensuring that all transactions are highly private and that no one can track them. It uses a secondary sub-chain known as NavTech that enables transaction anonymization and mixing.

For example, when a person sends Navcoins, the funds first move to the sub chain, where they are tweaked before they get to the recipient. Navcoin was also among the first coins to implement a proof-of-stake consensus.

Navcoin’s developers have also created more features. In addition to the native NAV token, they have launched xNAV, which is a private currency created to protect information by hiding the sending and receiving addresses and amount. They also launched xNAV, which is a wrapped representation of NAV.

The Navcoin price has bounced back in line with the overall recovery of other cryptocurrencies. Indeed, Bitcoin has jumped to over $24,000 while Ether has moved to about $1,500. As a result, the total market cap of all coins has risen to over $1 trillion.

Navcoin has also jumped as investors cheer the strong performance of other privacy tokens. For example, Monero has jumped by more than 5% in the past 24 hours. The same is true with other coins like Dash and ZCash. 

Navcoin price prediction

The daily chart shows that the NAV price has been in a strong bullish trend in the past few days. It has managed to move above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved close to the overbought level. 

Therefore, the coin will likely keep rising as bulls target the key resistance at $0.50. However, a drop below the support level at $0.106 will invalidate the bullish view.

Tether has released the final 33 million USDT of Poly Network’s assets, after hacker “Mr. White Hat” returned the rest

Cross-chain decentralised finance (DeFi) protocol Poly Network finished recovering all of its assets, according to a blog post published yesterday.

On 10 August, the protocol was the victim of the largest ever DeFi exploit, when it was attacked simultaneously on Ethereum, Polygon and Binance Smart Chain for a total of $611 million.

Poly Network published the attacker’s blockchain addresses and called on the crypto community to blacklist coins coming from these addresses. Tether was quick to respond, freezing about 33 million USDT in the ETH address.

The hacker, who has been dubbed “Mr. White Hat” by Poly Network, revealed the next day that they had carried out the exploit “for fun” in an on-chain AMA with themselves. By 12 August, Mr. White Hat had returned $342 million of the hacked assets and the following week, they were offered the job of Chief Security Advisor of Poly Network.

On Monday, the protocol revealed that the hacker had shared a private key to a multi-signature wallet containing the remaining $141 million in their possession. This meant that Poly Network had recovered all of the lost funds except the $33 million frozen by Tether, saying in the Monday blog post that they had been in “close communication” with the stablecoin issuer and were following “Tether’s standard process”.

Yesterday’s blog post confirmed that that process was complete and Tether had released the 33,431,200 USDT into Poly Network’s designated multi-sig address.

https://twitter.com/Tether_to/status/1430510652582416387  

Recovering the assets was phase four of Poly Network’s recovery roadmap and the protocol is now moving onto phase five, namely, resuming services. The Poly Bridge has reestablished cross-chain functionality for 59 different assets, with more services to open up more gradually due to “security reasons”.

Poly Network is also launching a bug bounty programme on Immunefi with a $500,000 prize pool to detect any other potential vulnerabilities in the protocol.

“Poly Network would like to thank Tether for their prompt assistance right from the beginning of the incident,” read yesterday’s blog post, “and we appreciate the support and understanding of our users as they patiently awaited the recovery of their assets.”