Popular analyst Ran Neuner has urged followers to get rid of some unworthy altcoins in their portfolios, which he calls “bad tokens.”
Neuner believes that the market will enter a parabolic bull run in the next 60 days and these altcoins may not have the best price performance. Notably, the list includes Cardano (ADA), XRP, and Worldcoin (WLD), among others.
Why does Neuner criticize some of the most popular altcoins?
Neuner's criticism of Cardano is especially harsh. He believes that ADA lacks long-term utility, especially in the DeFi sector. He highlighted several problems, such as the platform not being user-friendly and the number of daily transactions being very low.
Additionally, he noted a decline in developer activity, which he believes contributes to a decline in relevance compared to other blockchain networks. Not to mention, ADA is down about 85% from its 2021 all-time high.
“I love Charles Hoskinson, I love the supportive community, it's all great. However, I don't see a use case for Cardano in the long term,” Neuner said.
ADA 4-hour price chart | Source: Tradingview
Turning to XRP, Neuner's analysis is not any better. He acknowledged Ripple's loyal following but criticized the project's waning importance in DeFi.
“XRP's use case in DeFi has been overwhelmed by new and better projects.”
XRP 4-hour price chart | Source: Tradingview
Furthermore, Neuner pointed out the erratic nature of XRP's market activity, as spikes are followed by rapid declines. This shows instability and unreliable growth.
On the other hand, Worldcoin has faced even harsher criticism, mired in accusations of manipulation and poor token economics. According to data from TokenUnlocks, more than 83% of the total supply is locked. This supply will begin to be unlocked from July 24, which could cause significant selling pressure.
“The circulating supply is extremely small – tokens are at risk of being destroyed when unlocked.”
Cryptocurrency investigator ZachXBT has called it “the biggest scam token in the bull run,” accusing venture capitalists and team members, including prominent figures from Coinbase and FTX, did not prevent price manipulation.
WLD 4-hour price chart | Source: Tradingview
Neuner's analysis is not limited to these three, with altcoins such as Litecoin (LTC) and Algorand (ALGO) also advised to be avoided. He criticized Litecoin for its decreasing transaction volume and high costs compared to newer Proof-of-Work protocols.
Meanwhile, Algorand was opposed by Neuner due to its lack of real-world applications and declining transaction volumes, despite its academic roots and promise of advanced smart contracts.
Additionally, Neuner's views on other past market favorites such as IOTA, Axie Infinity (AXS) and The Sandbox (SAND) do not give much hope. He noted that IOTA's network activity has stagnated, while both AXS and SAND have lost traction and interest, far from their peaks during the 2021 bull run.
VeChain (VET), Quant (QNT) and EOS are other altcoins facing criticism from Ran Neuner. Most of these altcoins are down significantly from their glory days in previous bull cycles.
https://tapchibitcoin.io/cardano-xrp-worldcoin-la-altcoin-xau.html
