A recent list identified by Forbes highlights 20 altcoins with market values above one billion dollars, known as "zombie altcoins." Some of these include XRP, Cardano, Bitcoin Cash, and Litecoin. These cryptocurrencies are classified as zombie altcoins due to their lack of transaction activity and utility in the cryptocurrency market.

The Case of XRP Among Zombie Altcoins

In the case of XRP, Ripple Labs launched this altcoin in 2012 with the aim of revolutionizing global financial transactions through Blockchain technology. Despite raising $1.4 billion and reaching a market value of $132 billion in 2018, XRP has not significantly impacted the global financial environment. Currently valued at $36 billion, XRP remains a top altcoin, but its limited revenue from transactions raises questions about its utility.

20 Major Zombie Altcoins

Zombie altcoins like XRP, ADA, BCH, and LTC exist with high market values but minimal utility beyond speculative trading. Despite the emergence of alternative solutions like stablecoins, these altcoins continue to see significant daily transaction volumes. Forbes has highlighted over 50 altcoins with market values over one billion dollars, with 20 of them classified as zombie altcoins, including XRP, AR, and EOS.

The sustainability of zombie altcoins like XRP is attributed to their substantial capital reserves and lack of regulatory scrutiny that traditional companies face. Ripple Labs, with $24 billion in XRP held in escrow, has enough resources to continue operations for years without strict accountability. Despite their limited utility, these altcoins remain operational thanks to their financial backing and lack of regulatory oversight.