XRP and Cardano need to prove real utility or risk losing relevance, says Galaxy CEO

Galaxy Digital CEO Mike Novogratz asserted that cryptocurrencies like XRP and Cardano, which heavily rely on community loyalty, must demonstrate tangible, real-world utility to maintain relevance during future market cycles. He believes the crypto market is shifting from narrative-driven tokens to those with solid business fundamentals and measurable value. Novogratz contrasted these with Bitcoin, which he considers established as 'money' with a distinct valuation framework. He questioned whether Ripple and Cardano can sustain their communities when facing increasing competition, noting that Charles Hoskinson has successfully maintained the Cardano community despite low current usage. Novogratz suggested the future winners will be business-driven tokens, platforms that attract significant building, and Bitcoin, pointing to Hyperliquid as an example of a token providing equity-like value through profit burning.

(Source：Crypto Briefing)