Mike Novogratz: XRP and Cardano Must Prove Utility Beyond Hype to Succeed

Galaxy Digital CEO Mike Novogratz has issued a critical challenge to major altcoins XRP and Cardano (ADA). Speaking at a recent industry event, the prominent investor stated that these cryptocurrencies need to demonstrate real-world utility and move beyond relying solely on their dedicated communities to achieve long-term success. Novogratz emphasized that while both projects have strong fan bases, the broader market demands proven use cases and tangible adoption. He contrasted this with networks like Ethereum, which he noted has established a clearer utility through its expansive ecosystem of decentralized applications. This commentary highlights a growing focus on fundamentals and practical application within the crypto sector, shifting away from pure speculation. The future valuation of assets like XRP and ADA, according to Novogratz, will be heavily dependent on their ability to prove functional usefulness in the evolving digital economy.