The MultiversX project from Sibiu (formerly Elrond), included by Forbes USA in a top 20…

The start-up MultiversX from Sibiu (previously named Elrond Network) was included by the American publication Forbes in a global top 20 projects based on blockchain technology “that are not good for anything” because they have “a reduced utility outside of trading crypto speculative,” the list being published alongside an analysis titled “Revival of billion-dollar crypto-zombie projects,” which shows how Bitcoin’s comeback has led to widespread market growth, including for projects that have few users.

“Our investigation shows that while only a handful of blockchains outside of Bitcoin and Ethereum have gained significant traction, there are no fewer than 50 blockchains trading at over $1 billion today, of which at least 20 are .

Following the SEC approval of spot bitcoin ETFs, crypto markets are on the rise. The 20 blockchains analyzed by Forbes, whose Don Quixote-like ambitions range from creating a global universal computer or an untraceable payment network, have a combined market value of $116 billion. Most have few users.
But don’t expect any of these creations to go out of business anytime soon. With the billions sitting in their treasuries, these projects can continue to exist for years,” according to the Forbes analysis signed by Steven Ehrlich, Maria Gracia Santillana Linares and Nina Bambysheva.

“What’s more, in this bizarre world of digital assets, wealthy blockchain-zombie projects don’t have to worry about things that keep traditional companies in check. There are no shareholders or regulatory authorities demanding financial statements. As long as there is an ample supply of speculators willing to trade the coins (tokens), these dead projects that are still active – zombie blockchains – will continue to roam the digital landscape,” according to the article.