Uncovering the Truth About Zombie Coins: Are They Truly Alive?

Forbes recently released a report listing 20 “zombie blockchains” in the cryptocurrency market, including popular tokens like XRP, ADA, and LTC. These coins, despite their high valuations, are deemed to have little real-world utility beyond speculative trading.

Among the highlighted tokens, XRP from Ripple Labs stands out as a major player in the world of crypto zombies. Despite its massive daily trading volume, Forbes argues that XRP lacks real-world usefulness and remains primarily speculative in nature.

The report also sheds light on the fact that there are 50 blockchains valued at over $1 billion each, excluding Bitcoin and Ethereum, with at least 20 of them labeled as “functional zombies” with a combined market value of $116 billion. The question remains: are these tokens truly alive in any meaningful sense?

Further analysis by Forbes delves into tokens like Ethereum Classic, Tezos, and Algorand, revealing discrepancies between their market caps and actual earnings. For example, Ethereum Classic generated only $41,000 in fees in 2023 despite its $4.6 billion market value.

The term “zombie blockchains” perfectly encapsulates these projects, stumbling forward in the crypto world with little real-world impact. The report raises important questions about the disconnect between market value and utility in the cryptocurrency space, highlighting the risks posed by operating without strong governance structures.

Ultimately, Forbes’ assessment categorizes these cryptocurrencies as “zombies,” trapped in a cycle of high valuations and low real-world impact. While some projects struggle with utility, others maintain strong community support, blurring the lines between the living and the undead in the crypto world.