With over 14,000 tokens in circulation and a $2.4 trillion market capitalization, more might not always be better. Forbes has identified a set of 20 cryptocurrencies, nicknamed "zombie blockchains," that, in spite of their lack of user acceptance and real-world utility, continue to command high market prices.

Famous names like Ripple (XRP), Cardano (ADA), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum Classic (ETC) are on the list; they are all distinguished by their continuous trading and operation despite not serving any useful purpose.

The phrase "zombie blockchains" describes blockchain initiatives that, similar to the undead, exist but show no signs of vitality in the form of significant user bases or usefulness.

Because of speculative trading, these tokens are still in use and occasionally even see financial success.

and substantial initial funding rather than because they have achieved their technological or practical goals.

Forbes analysts noted that Ripple’s XRP was initially designed to compete with the SWIFT banking network by facilitating rapid international bank transfers at minimal fees.

However, it has failed to disrupt SWIFT and now relies heavily on speculative trading for its high market value, with minimal revenue from actual network usage.

It’s largely useless, but the XRP token still sports a market value of $36 billion, making it the sixth-most valuable cryptocurrency,” analysts described.

“Ripple Labs is a crypto zombie. Its XRP tokens continue to trade actively, some $2 billion worth per day, but to no purpose other than speculation.

Not only is SWIFT still going strong, but there are now better ways to send payments internationally via blockchains, especially stablecoins like tether, which is pegged to the U.S. dollar and has $100 billion in circulation,” they added.

Similarly, hard forks like Litecoin, Bitcoin Cash, Bitcoin SV, and Ethereum Classic are valued at over $1 billion but are underutilized, serving more as speculative investments than practical applications, according to Forbes.

These tokens often result from disagreements within developer communities and persist due to their historical significance or the inertia of speculative trading.

“What’s keeping these zombies alive is liquidity,” analysts cited a VC’s statement.

Analysts also pointed to the “Ethereum killers,” such as Tezos (XTZ), Algorand (ALGO), and Cardano (ADA), as a major part of this phenomenon.

Despite technological advancements and substantial valuations, these tokens have not seen major adoption or activity.

Although they offer advanced transaction processing capabilities, they have difficulty converting these capabilities into widespread acceptance or developer engagement.

“Certain zombies on the blockchain appear to trade only on the basis of their creators' fame.

After cofounder Charles Hoskinson and fellow Ethereum cofounder Vitaly Buterin fell out, Cardano, a rival to Ethereum, was introduced in 2017.

According to observers, the primary reason for the speculative interest in Cardano is the notoriety of its founder.

The absence of financial accountability and governance frameworks in these blockchain-based organizations—which function without regulatory oversight or shareholder obligations—is another topic covered in Forbes' article.

This makes it more difficult to evaluate their viability or financial health, as demonstrated by the example of Ethereum Classic, which is still regularly traded despite experiencing significant security breaches.