Forbes releases list of cryptocurrency zombies: XRP, ADA, LTC, ALGO, XTZ

Forbes research team released a list of cryptocurrency zombies, including many familiar names, such as XRP, ADA, LTC, ALGO, XTZ, etc. Crypto analyst Ignas also Shared some thoughts.

Billion Dollar Crypto Zombie List

Ignas selected a few lists that he found interesting:

Ripple (XRP)

Ripple Labs’ proxy Although the market value of XRP is as high as US$36 billion, ranking the sixth largest cryptocurrency in market value, it has no other purpose except speculation.

Last year, Ripple earned US$583,000 in transaction fees from the XRP ledger alone. The converted share price to revenue ratio (Price-to-SalesRatio) was as high as 61,689, compared to Nvidia, whose price has soared several times recently. (NVIDIA) 37 times, there is a huge difference.

Ripple's other opponents, such as traditional finance's SWIFT and Tether's US dollar stablecoin USDT, all operate very well. In comparison, although XRP's daily trading volume reaches 2 billion US dollars, it is speculative. Not practical.

Ethereum Classic(ETC)

With a market capitalization of $4.6 billion but generating less than $41,000 in fees in 2023, Ethereum Classic (ETC) is unique only in that it is the original Ethereum chain.

Tezos(XTZ)

Tezos raised $230 million in an initial coin offering (ICO) in 2017, and its XTZ token currently has a market cap of $1.2 billion. But Tezos only earned $5,640 in fees in February 2024, and $177,653 for all of 2023.

Tezos has 700 million US dollars in its treasury, but only 20% is XTZ, and the rest is Bitcoin and various diversified investment assets.

Algorand(ALGO)

Algorand has a market value of US$2 billion and a treasury holding US$500 million. It was once considered an Ethereum killer because it could handle 7,500 transactions per second, but in 2023, it only brought in $63,000 in blockchain transaction fees.

Cardano(ADA)

The report states that Cardano trading is based solely on the popularity of founder Charles Hoskinson. Charles Hoskinson was also one of the co-founders of Ethereum, but later left due to different ideas from Vitalik.

However, Cardano brought in $3 million in revenue last year, although the Cardano Foundation said it has not completed the main construction phase. This number also surprised Ignas!

Liquidity keeps crypto zombies alive

Ignas quoted a VC saying that he strongly agrees: What keeps these zombies alive is liquidity!

The above is the detailed content of Forbes releases list of cryptocurrency zombies: XRP, ADA, LTC, ALGO, XTZ. For more information, please follow other related articles on the PHP Chinese website!