Do XRP's 16,000 Active Addresses Justify The $115B Market Cap? No Way, Says Mike Novogratz

Benzinga and Yahoo Finance LLC whitethorn gain committee oregon gross connected immoderate items done the links below.

Mike Novogratz warns the16,703 progressive addresses holding XRP (CRYPTO: XRP) can’t warrant its $115 cardinal marketplace cap, but societal media chatter is nevertheless debating large organization accumulation.

What Happened: Galaxy Digital (TSX:GLXY) laminitis and CEO Mike Novogratz challenged XRP and Cardano (CRYPTO: ADA) to show genuine inferior beyond loyal communities arsenic the cryptocurrency marketplace matures from hype-driven narratives to fundamentals-focused assets.

“Can Ripple clasp it together? Can Cardano clasp it together?” Novogratz said during a speech with Galaxy’s Head of Research Alex Thorn connected Friday.

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He highlighted that portion XRP and Cardano boast resilient instrumentality bases, their on-chain enactment remains comparatively weak.

“Charles Hoskinson, bless his soul, he’s kept the Cardano assemblage with a blockchain that radical don’t truly usage a lot,” Novogratz said.

“Can you support it unneurotic erstwhile determination are much and much options?” helium added.

DAG Family Office CEO Jake Claver claimed connected X that “major institutions are stacking up XRP down the scenes portion keeping the nationalist successful the dark. The existent terms is simply a shadiness of what’s coming.”

He argues that XRP volition alteration into “the instauration of planetary finance” and offers “nothing successful crypto abstraction offers this level of certainty and imaginable for monolithic returns.”

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In December itself, Claver said helium was "99.99999% confident" XRP would marque a large determination earlier year-end and reiterated his content that the token could yet scope triple-digit prices, citing ETF expansion, shifting planetary liquidity, regulatory clarity, and macroeconomic disruptions.

On-chain metrics underscore Novogratz’s concerns arsenic the fig of progressive XRP addresses was 16,703, according to information root CryptoQuant.

Cardano’s progressive addresses tallied implicit 19,000.

Both numbers are importantly little than Solana (CRYPTO: SOL), which typically sees millions successful progressive addresses driven by DeFi, memes, and apps.

Yet the marketplace headdress rankings archer a antithetic story.

Solana, contempt its acold higher web usage, sits seventh globally with a marketplace worth adjacent $72 billion.