Forbes recently published a research article dubbing several prominent cryptocurrencies, such as XRP and ADA, as “crypto zombies.” This term characterizes layer-1 blockchains with substantial market value but limited real-world applications beyond speculative trading.
The article singles out Ripple Labs, the driving force behind XRP, as a prime example of a crypto zombie. Despite XRP’s active trading volume, Forbes argues its utility remains confined to market speculation.
Ethereum Classic (ETC) also makes the list due to its significant market value but comparatively low network fees. Originating from a hard fork resulting from the DAO incident in 2016, Ethereum Classic emerged as a continuation of Ethereum’s original blockchain.
Algorand, once hailed as an “Ethereum killer” for its high transaction throughput, faces scrutiny from Forbes for its low income from blockchain transaction fees, indicating a lack of practical utility.
The mention of Cardano came as a surprise, with Forbes suggesting it rides on the popularity of its founder, Charles Hoskinson, and raising concerns about his educational background.
Supporters of Cardano counter these claims, highlighting its active ecosystem and tangible value beyond speculation. They point to network growth and ongoing development as proof of its vitality and relevance.
While Forbes’ assessments may seem critical to community members, it’s essential to remember they represent individual perspectives, not absolute truths. Some projects cited indeed struggle with utility, while others thrive with robust ecosystems and use cases.
