Galaxy Digital CEO Urges XRP and Cardano to Prove Real Utility
- Mike Novogratz, CEO of Galaxy Digital, emphasizes the need for XRP and Cardano (ADA) to demonstrate real-world utility to maintain their market valuations.
- He suggests that the crypto market is transitioning from narrative-driven tokens to those with solid business fundamentals.
- Novogratz warns that tokens relying solely on community loyalty may fall behind competitors with measurable value and profits.
- The likely winners in the crypto space are expected to be business-driven tokens and platforms like Bitcoin.
- He highlights Hyperliquid as an example of a token with clear value, due to its profit-burning mechanism akin to equity investments.
Galaxy Digital’s Mike Novogratz stresses the importance of real utility for tokens like XRP and Cardano, as the market shifts towards business-driven models. He notes that platforms such as Bitcoin are likely to succeed in this evolving landscape.
Source (3.2)https://cryptobriefing.com/xrp-cardano-prove-real-utility-relevance/?rand=59535
