福布斯曝光「加密貨幣殭屍」：價值可疑的數十億美元資產

福布斯公佈了一份報告，將一組加密資產識別為“十億美元殭屍”，凸顯了加密貨幣市場固有的波動性。這些 Layer 1 (L1) 代幣，包括 Ripple 的 XRP、Ethereum Classic 和 Cardano，估值很高，但除了投機交易之外的實用性有限，引發了人們對其可行性的擔憂。

Forbes Unveils "Crypto Zombies": Billion-Dollar Assets with Questionable Utility

福布斯揭曉「加密貨幣殭屍」：實用性存疑的數十億美元資產

Amidst the recent surge in speculative cryptocurrency investments, Forbes has released a comprehensive report that identifies a significant number of crypto assets as "billion-dollar zombies." These assets, primarily known as Layer 1 (L1) tokens, epitomize the inherent volatility of the cryptocurrency market. Their defining characteristic lies in their lofty valuations accorded by industry leaders, despite their limited utility beyond risky trading.

在最近投機性加密貨幣投資激增的情況下，《富比士》發布了一份綜合報告，將大量加密資產識別為「十億美元殭屍」。這些資產主要稱為第 1 層 (L1) 代幣，體現了加密貨幣市場固有的波動性。它們的顯著特徵在於行業領導者給予的高估值，儘管它們除了風險交易之外的效用有限。

The Controversial List

有爭議的名單

Forbes' list of crypto assets identified as "zombies" includes prominent names such as Ripple (XRP), Ethereum Classic (ETC), Tezos (XTZ), Algorand (ALGO), and Cardano (ADA).

福布斯被認定為「殭屍」的加密資產名單包括 Ripple (XRP)、Ethereum Classic (ETC)、Tezos (XTZ)、Algorand (ALGO) 和 Cardano (ADA) 等知名名稱。

Ripple: A Conspicuous Figure

瑞波幣：一個引人注目的數字

Ripple Labs, the creator of the XRP token, emerged as a notable figure in the "crypto zombies" category. XRP has established a strong trading presence, boasting an active daily volume of nearly $2 billion. However, Forbes expresses skepticism about its broader purpose, arguing that XRP remains primarily a speculative asset with minimal tangible utility.

XRP 代幣的創建者 Ripple Labs 成為「加密殭屍」類別中的知名人物。 XRP 已經建立了強大的交易地位，每日活躍交易量接近 20 億美元。然而，《富比士》對其更廣泛的用途表示懷疑，認為 XRP 主要仍是一種投機資產，有形效用極小。

Escalating Concern

擔憂不斷升級

Ripple Labs and XRP are not isolated examples in this questionable category. Forbes' investigation revealed that a total of 50 blockchains, excluding Bitcoin (BTC) and Ethereum (ETH), currently trade at values exceeding $1 billion. Approximately 20 of these blockchains have been classified as "functional zombies," with a collective market value of $116 billion despite limited user bases.

Ripple Labs 和 XRP 並不是這個可疑類別中的孤立例子。 《富比士》的調查顯示，除比特幣（BTC）和以太坊（ETH）外，目前共有 50 個區塊鏈的交易價值超過 10 億美元。其中約 20 個區塊鏈被歸類為“功能性殭屍”，儘管用戶基礎有限，但總市值仍高達 1,160 億美元。

Examples of "Functional Zombies"

“功能性殭屍”的例子

Forbes provides insightful examples of "functional zombies" within the cryptocurrency landscape.

福布斯提供了加密貨幣領域「功能性殭屍」的富有洞察力的例子。

• Ethereum Classic: Hailing as the original Ethereum chain, Ethereum Classic's market value stands at $4.6 billion. However, its fee earnings in 2023 amounted to a mere $41,000, raising questions about its operational viability.
• Tezos: Tezos, which raised a significant $230 million via its Initial Coin Offering (ICO) in 2017, boasts a market capitalization of $1.2 billion. However, its transaction fee earnings were a paltry $5,640 in February 2024 and $177,653 for the entire year of 2023.
• Algorand: Touted as an "Ethereum killer," Algorand has encountered challenges in gaining traction. With a market cap of $2 billion and a treasury of $500 million, it generated only $63,000 in blockchain transaction fees in 2023, casting doubt on its real-world adoption and utility.

Categorizing the "Zombies"

以太坊經典：以太坊經典被譽為原始以太坊鏈，其市值高達 46 億美元。然而，其 2023 年的費用收入僅為 41,000 美元，引發了對其營運可行性的質疑。然而，2024 年 2 月其交易費收入僅為 5,640 美元，2023 年全年為 177,653 美元。其市值為 20 億美元，財務規模為 5 億美元，但 2023 年僅產生 63,000 美元的區塊鏈交易費用，令人對其現實世界的採用和實用性產生懷疑。

Forbes classifies the identified "crypto zombies" into two distinct categories: spin-offs and direct competitors.

福布斯將已識別的「加密貨幣殭屍」分為兩個不同的類別：衍生性商品和直接競爭對手。

• Spin-Off Zombies: This category includes Bitcoin Cash (BCH), Litecoin (LTC), Monero (XMR), Bitcoin SV (BSV), and Ethereum Classic. These assets emerged from disagreements among project developers regarding the governance and development direction of their parent chains. Such conflicts often result in hard forks, creating new networks with the same historical transaction data as their predecessors. Despite their market values often exceeding their real-world usage, these spin-offs have earned the "zombie" label.
• Direct Competitors: This category encompasses projects that sought to challenge the dominance of Bitcoin and Ethereum, such as Ripple, Tezos, Algorand, and others. While these projects boast impressive valuations, their utility and adoption have remained limited, leading to their classification as "zombies."

A Widening Disconnection

衍生殭屍：此類別包括比特幣現金 (BCH)、萊特幣 (LTC)、門羅幣 (XMR)、比特幣 SV (BSV) 和以太坊經典。這些資產是由於專案開發商對其母鏈的治理和發展方向存在分歧而產生的。此類衝突通常會導致硬分叉，從而創建具有與其前身相同的歷史交易資料的新網路。儘管它們的市場價值經常超過其實際使用量，但這些衍生產品已經贏得了「殭屍」標籤。和別的。儘管這些項目擁有令人印象深刻的估值，但它們的實用性和採用率仍然有限，導致它們被歸類為「殭屍」。

Forbes' report highlights a growing disparity between the valuations of many crypto projects and their tangible applications. This widening gap has earned these ambitious yet underutilized projects the unwelcome title of "zombies." As the total cryptocurrency market capitalization continues to fluctuate around $2.2 trillion, the discussion surrounding these "zombie" blockchains is likely to fuel ongoing debates about crypto utility and market volatility.

福布斯的報告強調了許多加密項目的估值與其實際應用之間的差距越來越大。這種不斷擴大的差距為這些雄心勃勃但未充分利用的項目贏得了不受歡迎的「殭屍」稱號。隨著加密貨幣總市值繼續在 2.2 兆美元左右波動，圍繞這些「殭屍」區塊鏈的討論可能會加劇加密貨幣實用性和市場波動性的持續爭論。