XRP and Cardano Survive Due to Early Advantage, Says Mike Novogratz

During a discussion on "Galaxy Brain," Mike Novogratz shared his thoughts on the lasting influence of XRP and Cardano in the cryptocurrency market.

He pointed out that both projects gained an early advantage when competition was limited, allowing them to establish strong communities that continue to support them today.

Novogratz noted that launching new tokens has become significantly more difficult due to the overwhelming number of cryptocurrencies now available.

Even high-profile figures would struggle to build sustainable communities around new projects, he suggested. Without clear utility, he believes, many tokens will struggle to maintain long-term value.

While Novogratz has criticized XRP and ADA in the past, he recently acknowledged XRP’s ability to maintain investor interest through its strong narrative.

XRP, which saw a major resurgence in late 2024, remains the third-largest cryptocurrency with a $155 billion market cap. Cardano, despite facing challenges, continues to hold its position in the top ten with a market valuation of $28.6 billion.