Fandom is Not Enough: Mike Novogratz Challenges XRP and Cardano Utility in 2025
Galaxy Digital CEO Mike Novogratz warns that XRP and Cardano (ADA) need to prove their utility and revenue potential to survive in a fundamentals-focused 2025 crypto market.
Can loyalty alone sustain a multi-billion dollar crypto empire? Mike Novogratz, CEO of Galaxy Digital, doesn't think so. As the crypto market matures, he's warning that XRP and Cardano (ADA) must prove they're useful beyond just their dedicated fanbases.
Mike Novogratz on XRP and Cardano Utility Issues
According to CoinDesk, Novogratz highlighted a growing divide in the industry during a recent interview. He argued that tokens not functioning as 'money' like Bitcoin will soon be valued like traditional businesses—based on revenue, usage, and measurable value. For long-standing giants like XRP and Cardano, the clock is ticking to show organic on-chain activity.
Charles Hoskinson has kept the Cardano community together with a blockchain that people don’t really use a lot. Can you keep it together when there are more and more options?
The Stark Data Deficit
On-chain metrics underscore these concerns. Despite XRP's massive $115 billion market cap, it recorded only 16,703 active addresses recently. Cardano fared slightly better with 19,000+ addresses. In contrast, Solana (SOL), with a market cap of $72 billion, regularly sees millions of active addresses, fueled by DeFi and apps.
High market capitalization without corresponding network usage represents a significant valuation risk as investors shift focus to fundamentals.
This content is AI-generated based on source articles. While we strive for accuracy, errors may occur. We recommend verifying with the original source.
Related Articles
XRP price slips to $1.86 despite institutional ETF assets hitting $1.25 billion. Strong resistance at $1.90 and high selling volume are keeping the market in a tight range.
XRP spot ETF net assets have crossed $1.25 billion on strong institutional demand, yet the price remains capped below the $1.90 resistance level. An analysis of what's next.
XRP's price has fallen 1.7% despite the launch of 'earnXRP', a new DeFi yield product. Analytics firm Santiment notes that current negative social sentiment could be a contrarian signal for a rebound.
Bitcoin has dropped below the $87,000 mark as the crypto market shows weakness, contrasting with global stock markets hitting all-time highs. Solana (SOL) and XRP recorded inflows, showing a mixed picture.
XRP price slips to $1.86 despite institutional ETF assets hitting $1.25 billion. Strong resistance at $1.90 and high selling volume are keeping the market in a tight range.
XRP spot ETF net assets have crossed $1.25 billion on strong institutional demand, yet the price remains capped below the $1.90 resistance level. An analysis of what's next.
XRP's price has fallen 1.7% despite the launch of 'earnXRP', a new DeFi yield product. Analytics firm Santiment notes that current negative social sentiment could be a contrarian signal for a rebound.
Bitcoin has dropped below the $87,000 mark as the crypto market shows weakness, contrasting with global stock markets hitting all-time highs. Solana (SOL) and XRP recorded inflows, showing a mixed picture.