Ripple-linked XRP and Cardano need to prove they're useful beyond just fans, Mike Novogratz says

Galaxy Digital Founder and CEO Mike Novogratz expressed doubt about the long-term viability of Ripple's XRP and Cardano (ADA), questioning if they can maintain relevance as the cryptocurrency market shifts focus from hype to fundamental utility. Novogratz noted that while both tokens possess strong, resilient communities, their on-chain activity remains relatively weak compared to projects driven by significant DeFi, meme, or application usage, like Solana. He argued that tokens not functioning purely as 'money' (like Bitcoin) will increasingly be valued based on real-world metrics such as revenue, usage, and measurable value, similar to traditional businesses. Despite XRP's role in cross-border payments via RippleNet and ADA's dedicated community fostered by Charles Hoskinson, Novogratz suggested that without substantial organic adoption, these projects face challenges as more utility-focused options emerge.

(Source：CoinDesk)