Bitcoin Cash

Tezos

Algorand

Zero

Ethereum Classic

Forbes, a reputable business publication known for its insightful analysis of financial markets, has recently unveiled a comprehensive report shedding light on the enigmatic world of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrencies</a>. In this groundbreaking study, <a href="https://coingape.com/tag/forbes/" target="_blank" rel="noopener">Forbes</a> has identified a select group of cryptocurrencies that it terms as “zombie blockchains.” 
<img decoding="async" class="aligncenter size-full wp-image-193923" src="https://coingape.com/wp-content/uploads/2024/04/Forbes-lists-zombie-tokens.webp" alt="" width="707" height="1280" srcset="https://coingape.com/wp-content/uploads/2024/04/Forbes-lists-zombie-tokens.webp 707w, https://coingape.com/wp-content/uploads/2024/04/Forbes-lists-zombie-tokens-166x300.webp 166w, https://coingape.com/wp-content/uploads/2024/04/Forbes-lists-zombie-tokens-676x1224.webp 676w, https://coingape.com/wp-content/uploads/2024/04/Forbes-lists-zombie-tokens-150x272.webp 150w" sizes="(max-width: 707px) 100vw, 707px"> 
Despite the exponential growth of the cryptocurrency market, boasting over 14,000 tokens and a staggering total market capitalization of $2.4 trillion, these chosen cryptocurrencies appear to defy conventional success metrics by exhibiting minimal real-world utility or user adoption. Among the distinguished names featured in this list are Ripple (XRP), <a href="https://coingape.com/price/cardano" target="_blank" rel="noopener">Cardano (ADA)</a>, Litecoin (LTC), Bitcoin Cash (BCH), and <a href="https://coingape.com/price/ethereum-classic" target="_blank" rel="noopener">Ethereum Classic (ETC)</a>. 
What sets these cryptocurrencies apart is their continued operation and trading activities without tangible evidence of fulfilling practical purposes. The term “zombie blockchains” aptly describes these projects, reminiscent of the undead, existing without displaying the vital signs of life in terms of utility or significant user bases. 
<h2 id="ripple-s-xrp-and-other-major-cryptos-critically-evaluated">Ripple’s XRP and Other Major Cryptos Critically Evaluated</h2> 
Among the myriad of cryptocurrencies subjected to Forbes’ critical scrutiny, <a href="https://coingape.com/price/xrp" target="_blank" rel="noopener">Ripple’s XRP</a> emerges as a focal poizombient of examination. Initially conceived as a formidable contender to the SWIFT banking network, promising rapid and cost-effective international bank transfers, XRP has since struggled to fulfill its lofty aspirations. Despite its failure to disrupt SWIFT, XRP persists as one of the most valuable cryptocurrencies in the market, boasting a staggering market value of $36 billion. However, analysts at Forbes assert speculative trading rather than genuine utility largely sustained that XRP’s market dominance. 
This observation raises pertinent questions about the fundamental viability and purpose of XRP, highlighting the growing chasm between market valuation and practical application within the cryptocurrency ecosystem. Similarly, other major cryptocurrencies such as <a href="https://coingape.com/price/litecoin" target="_blank" rel="noopener">Litecoin</a>, Bitcoin Cash, Bitcoin SV, and Ethereum Classic find themselves under the scrutiny of Forbes’ discerning analysis. 
Also Read: <a href="https://coingape.com/former-federal-reserve-adviser-calls-out-trump-allies-fed-remodeling-plans/" target="_blank" rel="noopener">Former Federal Reserve Adviser Calls Out Trump Allies’ Fed Remodeling Plans</a> 
<h2 id="challenges-faced-by-ethereum-killers-and-lack-of-governance">Challenges Faced by “Ethereum Killers” and Lack of Governance</h2> 
In addition to evaluating established cryptocurrencies, Forbes’ report casts a critical eye on emerging contenders often dubbed as “Ethereum killers,” including <a href="https://coingape.com/price/tezos" target="_blank" rel="noopener">Tezos (XTZ)</a>, Algorand (ALGO), and Cardano (ADA). Despite their formidable technological prowess and substantial market valuations, these cryptocurrencies have yet to witness widespread adoption or significant user activity. Speculative interest in Cardano, for instance, appears to be fueled primarily by the prominence of its founder, Charles Hoskinson, rather than tangible evidence of real-world utility. 
Operating without regulatory oversight or obligations to shareholders, these entities often find themselves navigating murky waters where assessing their long-term viability becomes increasingly challenging. Ethereum Classic’s continued trading activity despite suffering major security breaches serves as a stark reminder of the risks associated with investing in cryptocurrencies devoid of robust governance structures. 
Also Read: <a href="https://coingape.com/dtcc-says-bitcoin-etf-exposure-will-have-zero-collateral-value-loan/" target="_blank" rel="noopener">DTCC Says ETFs With Bitcoin Exposure Will Have Zero Collateral Value for Loans</a> 
The post <a href="https://coingape.com/xrp-ada-bch-ltc-stx-declared-zombie-among-20-crypto-by-forbes/">XRP, ADA, BCH, LTC, STX Declared Zombie Among 20 Crypto By Forbes</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP, ADA, BCH, LTC, STX Declared Zombie Among 20 Crypto By Forbes

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