Forbes Lists 20 'Zombie Tokens' With Market Value Over $1 Billion

According to PANews, Forbes recently published an article listing 20 'zombie tokens' with a market value exceeding $1 billion. These include XRP, ADA, BCH, LTC, ICP, ETC, XLM, STX, KAS, THETA, FTM, XMR, AR, ALGO, FLOW, EGLD, BSV, MINA, XTZ, and EOS. Forbes defines 'zombie tokens' as assets that have little use beyond speculative cryptocurrency trading. For instance, data from Messari shows that XRP has a market value of $36 billion, but its network transaction fees last year were only $583,000. This implies that the price-to-sales ratio (P/E ratio) of XRP is 61,689. In contrast, Nvidia, with a market value exceeding $2 trillion, had annual revenue of $61 billion, and its P/E ratio is only 37 times. Furthermore, Ethereum Classic (ETC) has a market value of $4.6 billion, but the fees generated in 2023 were less than $41,000. Forbes also cited ADA as an example, suggesting that the popularity of the token is directly proportional to the popularity of its founder, Charles Hoskinson. However, this is based on a falsehood. Hoskinson claimed to have dropped out of a doctoral program in mathematics at the University of Colorado Boulder, but the university stated that Hoskinson only dropped out of an undergraduate program. For years, Hoskinson has been hinting that Cardano is working for the Department of Defense's renowned research department, the Defense Advanced Research Projects Agency, but there has been no clear news.