Forbes’ list of zombie tokens included Ripple (XRP), Cardano (ADA), and Fantom (FTM).

A recent Forbes expose highlighted cryptocurrencies like Ripple (XRP), Cardano (ADA), and Fantom (FTM) as “zombie tokens.” It is worth billions of dollars despite having minimal practical utility.

These blockchains, often referred to as “good-for-nothing,” trade heavily on speculation rather than functional demand, reflecting the nature of a speculative bubble rather than a technology-driven market.

Ripple (XRP), Cardano (ADA), Phantom (FTM) are useless: Forbes

Despite Ripple’s ambitions to revolutionize bank transfers and compete directly with SWIFT, it has largely failed to achieve its goals. The network continued to operate and processed $583,000 in transaction fees last year, a tiny figure compared to its market value of $36 billion.

In a new report, Forbes explains that these discrepancies point to a speculative nature rather than actual financial utility.

Cardano and Fantom tell a similar story. With a high market value of $23 billion and a huge amount of money tied up in government coffers, practical application is lagging.

Despite founder Charles Hoskinson’s comprehensive development plan and public engagement, Cardano has not yet moved beyond the pilot stage in many respects. Meanwhile, Phantom is less well-known but is riding the same high wave of speculation with minimal transaction throughput.

“It’s like an early-stage venture capital fund or a company that has raised too much money but doesn’t know how to distribute it appropriately. There is no way to return treasuries to investors,” said Matt Hougan, CIO of Bitwise Asset Management.

Forbes classifies more than 20 cryptocurrencies as zombies because they lack a significant user base or functional applications outside of their trading platforms. This situation highlights a broader problem within the cryptocurrency market. Significant capital is tied up in projects whose future and usefulness are questionable.

Read more: 11 Cryptocurrencies to Add to Your Portfolio Before Altcoin Season

Forbes’ Good for Nothing blockchain list. Source: Forbes

Since the longevity and success of these platforms depend heavily on market sentiment rather than their fundamental value, this scenario prompts investors and users to act cautiously.
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