Эксперт VanEck ставит под сомнение актуальность XRP на фоне развития стейблкоинов Translation: VanEck Expert Questions the Relevance of XRP Amid Rise of Stablecoins

The token XRP does not provide financial benefits to its users, and the XRP Ledger lacks practical applications. This viewpoint was expressed by Matthew Sigel, head of digital asset research at VanEck.

«Dear XRP maximalist, I may never understand what your ‘blockchain’ actually does, but I will always respect the passion required to pretend it accomplishes something. So keep on showing that enthusiasm!» he addressed the community members who traditionally call themselves the XRP Army.

In response, commentators highlighted the projects being developed on the XRP Ledger. They cited a recent initiative involving Ondo Finance and BlackRock, which aims to tokenize U.S. government bonds using Ripple’s network.

Sigel asserted that such solutions do not offer any advantages to token holders.

«I am not aware of any fee collections, revenue distributions, burning, or any other economic relations,» the expert continued.

Opponents argued that XRP cannot be classified as a speculative asset like Bitcoin, whose blockchain struggles with scalability. Critics of Sigel emphasized that the token’s value will increase as the use of its network expands.

Taking part in the discussion, the current Chief Technology Officer of Ripple, David Schwartz, confirmed that the concept of XRP does not involve generating passive income.

«The essence of blockchain is to operate on the principle of ‘no intermediaries, be your own bank’ or ‘I don’t care that I can’t tax others for passive income,'» Schwartz added.

At the end of October, the topic of XRP’s usefulness was brought up by Scott Melker, host of The Wolf Of All Streets podcast.

He pointed out that in the light of the surge in payment utilizations of stablecoins, it made sense for Ripple to issue its own dollar-pegged coin, RLUSD. Melker questioned the role of XRP in this context.

Co-founder of XAO DAO, Santiago Velez, responded that the primary function of the token is to serve as a neutral intermediary currency for transactions without a central issuer. This helps mitigate the counterparty risk associated with stablecoins, which are essentially just debt instruments.

Recall that on November 13, trading began for the first spot ETF based on XRP in the U.S., launched by Canary Capital. The trading volume of the debut session reached $58 million, setting a record for all exchange-traded funds launched this year.