Home Altcoins News Are XRP and Cardano (ADA) Really “Crypto Zombies”? Forbes Debate

Are XRP and Cardano (ADA) Really “Crypto Zombies”? Forbes Debate


In the ever-evolving landscape of cryptocurrencies, a recent article by Forbes has stirred the pot, labeling some of the industry’s top contenders as “crypto zombies.” Among those targeted are XRP and Cardano (ADA), two heavyweight names that have long commanded attention in the digital asset realm. But what exactly does it mean to be branded a “crypto zombie,” and why are these projects facing such scrutiny?

Forbes’ assessment hinges on the notion that certain cryptocurrencies, despite boasting significant market valuations, lack substantial utility beyond speculative trading. In essence, they’re akin to the undead of the digital finance world—alive in market cap but devoid of meaningful purpose.

Take XRP, for instance. The cryptocurrency, closely associated with Ripple Labs, has enjoyed a robust presence in daily trading activities. Yet, according to Forbes, its usage appears confined to the realm of speculation, with little evidence of widespread adoption or utility beyond the trading floor. This assessment strikes a chord with skeptics who have long questioned the real-world applications of XRP outside of Ripple’s ecosystem.

Similarly, Cardano, often hailed for its innovative approach to blockchain technology and governance, finds itself under the microscope. Despite its lofty aspirations and dedicated community, Forbes suggests that Cardano may be falling short in demonstrating tangible utility beyond its speculative appeal. This critique challenges the narrative of Cardano enthusiasts who champion its scientific rigor and long-term vision for decentralized finance.

But the controversy doesn’t end there. Ethereum Classic (ETC), a sibling of the more widely recognized Ethereum, also finds itself on Forbes’ list of crypto zombies. Despite maintaining a significant market value, Ethereum Classic has been criticized for its relatively low network fees and perceived lack of innovation compared to its counterpart. This inclusion raises questions about the sustainability of projects that rely solely on historical prominence rather than ongoing development and utility.

In response to Forbes’ classification, the crypto community has rallied to defend the honor of XRP, Cardano, and other implicated projects. Supporters argue that the notion of “crypto zombies” oversimplifies the complex dynamics of the cryptocurrency market and fails to acknowledge the progress and potential of these projects.

For XRP proponents, the focus remains on Ripple’s efforts to revolutionize cross-border payments and streamline financial transactions using blockchain technology. Despite regulatory hurdles and ongoing legal battles, Ripple’s commitment to real-world utility continues to drive optimism among believers in the XRP ecosystem.

Similarly, Cardano enthusiasts highlight the project’s ambitious roadmap, which aims to establish a scalable and sustainable blockchain infrastructure for decentralized applications. With ongoing developments such as the Alonzo upgrade enabling smart contract functionality, Cardano’s utility is poised to expand beyond mere speculation, proponents argue.

As for Ethereum Classic, supporters point to the project’s steadfast commitment to immutability and decentralization—the very principles upon which blockchain technology was founded. While critics may question its relevance in a crowded market, Ethereum Classic loyalists remain steadfast in their belief that the project’s value transcends mere market speculation.

Ultimately, the debate surrounding “crypto zombies” underscores the broader tension between market valuation and real-world utility in the cryptocurrency space. While some projects may thrive on speculation alone, others are forging ahead with tangible use cases and innovative solutions to real-world problems.

As investors and enthusiasts navigate this ever-changing landscape, one thing remains clear: the true measure of a cryptocurrency’s success lies not in its market cap alone, but in its ability to effect meaningful change and drive adoption beyond the realm of speculation. In the end, whether XRP, Cardano, or Ethereum Classic can shed the label of “crypto zombies” will depend on their ability to deliver on the promise of blockchain technology and secure a lasting place in the digital economy.

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Pankaj K

Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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