连锁促进的加密货币XRP通常被吹捧为改变付款和跨境交易的游戏规则。

然而，伊斯兰教徒对冲基金Arca质疑XRP的金融业务。

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.

加密对冲基金ARCA的CIO Jeff Dorman质疑了Ripple促进的加密货币XRP的金融实用性，尽管它经常被吹捧为改变游戏规则的付款和跨境交易。

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上的一篇文章中说，美国总统唐纳德·特朗普（Donald Trump）的模因硬币（$ trump）是了解加密货币估值的完美标志。

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.

基于Solana区块链的代币在4月推出，只有社会价值，因为没有现金流，用户无法对令牌做任何事情。但是，在模因硬币背后的团队宣布，特朗普总统将于5月22日在华盛顿特朗普国家高尔夫俱乐部举办独家晚宴之后发生了变化。

This announcement added utility value to the meme coin.

该公告为模因硬币增加了实用性价值。

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

同时，他指出，XRP尚无公用事业或财务价值。

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

根据Dorman的说法，XRP的市值飙升至1500亿美元，主要是由于社会价值。

“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.”

“这是讨论最多的硬币之一，每个人似乎都对它有意见（因此是社会价值）。没有人能做任何有用的事情（因此没有公用事业价值），尚不清楚现金流量是什么（因此没有财务价值）。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，随着Ripple的Dollar-Peggge stablecoin，Ripple USD（RLUSD）的发展，社会价值正在成为实用价值，该公司于2024年12月在该公司以机构为中心的XRP Ledger和以太坊区块链上部署。

“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.”

“社会价值是真实的，但是量化该价值是不可能的。公用事业价值更容易衡量，但仍然很难。当令牌有用时，您可以估计使用多少价值，从而估计需求。”

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

XRP还可以通过收购来增加未来的财务价值，例如，如果波纹购买Stablecoin发行人圈子。

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.

上个月下半年的报告表明，作为试图收购圈子的一部分，Ripple竞标高达50亿美元，这被拒绝过低。

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总裁Teddy Fusaro在当时建议Ripple如果需要购买很多加密公司，因为该公司目前在XRP中持有超过930亿美元的股份。