Forbes Unveils 20 Crypto ‘Zombies,’ Declares Ripple And XRP Among The Undead
Summary
Forbes released a list of 20 "crypto billion-dollar zombies," including Ripple, XRP, Ethereum Classic, Tezos, Algorand, and Cardano. These cryptocurrencies have high valuations but limited utility beyond speculative trading. Forbes classifies 50 blockchains, excluding Bitcoin and Ethereum, as "functional zombies," with a combined market value of $116 billion. Examples include Ethereum Classic, Tezos, and Algorand, which have substantial market capitalizations but minimal fee earnings, raising doubts about their viability. The report categorizes zombie blockchains as spin-offs and direct competitors to established blockchains, highlighting a growing disparity between cryptocurrency project valuations and actual utility.
