Forbes Releases List of 20 Crypto Zombies Worth Billions of Dollars

Author: @DefiIgnas; Translator: Vernacular Blockchain

Forbes Research released a list titled “20 Cryptocurrency Billion Dollar Zombies”.

These are L1 platforms with high valuations, but are "unproven and have little practical value other than being used for speculative cryptocurrency trading."

Notable ones are: $STX, $ICP, $FTM, $ADA, $EOS...

The original article is a paid article. Here are some of the more interesting excerpts from the article:

"Ripple Labs is a crypto zombie. Its XRP Token continues to trade actively, worth about $2 billion a day, but has no purpose other than speculation.

“Tezos raised $230 million in its 2017 initial coin offering (ICO), and its XTZ token currently has a market cap of $1.2 billion.”

Tezos “earned $5,640 in February 2024 and $177,653 for all of 2023.

“Tezos has $700 million in its treasury”

“Algorand, with a market cap of $2 billion and a treasury of $500 million. It was once seen as an “Ethereum killer” because of its ability to process 7,500 transactions per second, but in 2023, it only brought in $63,000 in blockchain transaction fees.

Cardano’s transactions are based entirely on the popularity of its creator, Charles Hoskinson. "He claimed to have dropped out of the mathematics doctoral program at the University of Colorado Boulder, but the school said Hoskinson was an undergraduate who did not complete his degree.