連鎖促進的加密貨幣XRP通常被吹捧為改變付款和跨境交易的遊戲規則。

然而，伊斯蘭教徒對沖基金Arca質疑XRP的金融業務。

Crypto hedge fund Arca's CIO Jeff Dorman has questioned the financial utility of Ripple-promoted cryptocurrency XRP, despite it being often touted as a game-changer for payments and cross-border transactions.

加密對沖基金ARCA的CIO Jeff Dorman質疑了Ripple促進的加密貨幣XRP的金融實用性，儘管它經常被吹捧為改變遊戲規則的付款和跨境交易。

In a post on X, formerly Twitter, Dorman said that U.S. President Donald Trump’s meme coin, $TRUMP, is the perfect token to understand crypto valuations.

多曼（Dorman）在X上的一篇文章中說，美國總統唐納德·特朗普（Donald Trump）的模因硬幣（$ trump）是了解加密貨幣估值的完美標誌。

The token, which is based on the Solana blockchain, launched in April with only social value as there were no cash flows and users could not do anything with the token. However, the game changed after the team behind the meme coin announced that President Trump is set to host an exclusive gala dinner at the Trump National Golf Club in Washington, D.C., for top $TRUMP holders on May 22.

基於Solana區塊鏈的代幣在4月推出，只有社會價值，因為沒有現金流，用戶無法對令牌做任何事情。但是，在模因硬幣背後的團隊宣布，特朗普總統將於5月22日在華盛頓特朗普國家高爾夫俱樂部舉辦獨家晚宴之後發生了變化。

This announcement added utility value to the meme coin.

該公告為模因硬幣增加了實用性價值。

Meanwhile, he noted that XRP, which is one of the top 10 cryptocurrencies by market cap, has no utility or financial value yet.

同時，他指出，XRP尚無公用事業或財務價值。

According to Dorman, XRP’s market cap has soared to around $150 billion mainly due to social value.

根據Dorman的說法，XRP的市值飆升至1500億美元，主要是由於社會價值。

“It's one of the most discussed coins & everyone seems to have an opinion on it (hence the social value). No one can do anything useful with it yet (hence no utility value) & it's not clear what the cash flows will be (hence no financial value). Yet it's still in the Top10 by market cap.”

“這是討論最多的硬幣之一，每個人似乎都對它有意見（因此是社會價值）。沒有人能做任何有用的事情（因此沒有公用事業價值），尚不清楚現金流量是什麼（因此沒有財務價值）。但是，它仍然在前10位。”。 ”

However, social value is becoming utility value with Ripple’s dollar-pegged stablecoin, Ripple USD (RLUSD), which was deployed on the company’s institution-focused XRP Ledger and Ethereum blockchain in December 2024.

但是，隨著Ripple的Dollar-Peggge stablecoin，Ripple USD（RLUSD）的發展，社會價值正在成為實用價值，該公司於2024年12月在該公司以機構為中心的XRP Ledger和以太坊區塊鏈上部署。

“Social value is real, but quantifying that value is impossible. Utility value is a little easier to measure, but still hard. When a token is useful, you can estimate how much it’s worth to use, and therefore estimate demand.”

“社會價值是真實的，但是量化該價值是不可能的。公用事業價值更容易衡量，但仍然很難。當令牌有用時，您可以估計使用多少價值，從而估計需求。”

XRP could also add financial value in the future through acquisitions, for instance, if Ripple purchases stablecoin issuer Circle.

XRP還可以通過收購來增加未來的財務價值，例如，如果波紋購買Stablecoin發行人圈子。

Reports late last month indicated that Ripple bid up to $5 billion as part of an attempted takeover of Circle, which was rejected as being too low.

上個月下半年的報告表明，作為試圖收購圈子的一部分，Ripple競標高達50億美元，這被拒絕過低。

Bitwise president Teddy Fusaro suggested at the time that Ripple could buy a lot of crypto companies if they want, as the company currently holds over $93 billion in XRP.

Bitwise總裁Teddy Fusaro在當時建議Ripple如果需要購買很多加密公司，因為該公司目前在XRP中持有超過930億美元的股份。