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Former Goldman Sachs Analyst Rips These 2 Giant Altcoins: Cult Memecoins!

Eski Goldman Sachs Analisti Bu 2 Dev Altcoin’e Çattı: Kült Memecoin’ler!
Eski Goldman Sachs Analisti Bu 2 Dev Altcoin’e Çattı: Kült Memecoin’ler!
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Ripple and Cardano occupy important positions in the crypto world. However, according to some, these altcoin projects are ‘useless’. Murad Mahmudov, a former Goldman Sachs analyst, slammed XRP and Cardano (ADA).

Analyst: XRP and ADA are “cult meme coins!”

Former Goldman Sachs analyst Murad Mahmudov took aim at Ripple-affiliated XRP and Cardano (ADA). Mahmudov called the two major altcoin projects “cult” meme coins. “This is the cycle where people finally realize that XRP and ADA were nothing but Cult Memecoins all along,” the analyst said.

Last week, the analyst also shared his advice for those looking to enter the emerging meme coin scene. The analyst argued that potential buyers should focus on projects with a current market capitalization between $5 million and $200 million. The Princeton-educated analyst said that altcoins will outperform all other sectors of the cryptocurrency market during the current cycle. However, he also doesn’t expect a big altcoin season as American households’ household savings have mostly evaporated.

Altcoin

Both altcoin projects are far from their peaks!

XRP, which you have been following from Kriptokoin.com, has recorded huge gains in its time. In the process, Ripple turned its founders into some of the richest people on the planet. The token performed well during the 2017 bull run. But despite gaining regulatory clarity last year, the altcoin is still down 87% from the all-time high it reached in January 2018.

Ditto Cardano (ADA), which made waves during the last bullish cycle with massive price spikes. ADA is down as much as 87.8% from its record high reached in September 2021. Mahmudov, a crypto OG, rose to prominence by leading a hedge fund called Adaptive Capital. However, the hedge fund was forced to shut down after experiencing a massive crypto crash in March 2020.

Ripple CEO'su Yeni IPO Planını Açıkladı: XRP Fiyatı Ne Olur?

Single currency dominance!

Elsewhere, Wall Street Analyst Linda Jones stated that Ripple could play a role similar to the Federal Reserve in the emerging financial system. Jones expressed this view on the latest edition of the Good Morning Podcast. The discussion focused on the BRICS coalition’s efforts to break away from the dollar standard and its potential impact on the US economy. Jones argued that the BRICS coalition is not against the US, but against central banks and the single currency dominance that controls the world. He also emphasized that the coalition is against the Fed’s control of the global economy through the US dollar.

According to Jones’ predictions, a new US currency could potentially emerge, backed by gold or other assets. Jones said the world needs to move away from a fiat banking system based on the dollar, emphasizing the need for a financial system backed by real assets. The analyst advocates a shift from a fiduciary system governed predominantly by central banks to a reality-based system distinguished by transparency. He also emphasized that this change will not lead to failure for America and that Ripple, an American company, is at the forefront of this new system with XRPL Ledger.

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Former Goldman Sachs Analyst Rips These 2 Giant Altcoins: Cult Memecoins!
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