Possibly, one cryptocurrency that will remain in the future

Possibly, one cryptocurrency that will remain in the future

 The current 19,000 cryptocurrencies will disappear in the next few years, as will many blockchain platforms. Experts point to the recent collapse of algorithmic stablecoin and digital token TerraUSD. Bertrand Perez, CEO of the Web3 Foundation, told the outlet that one of the effects of the Terra problem we saw last week is that we are at a stage where there are basically too many blockchains, too many tokens. This confuses the user. And it also poses some risks to users.

 "Like in the early days of the internet, you have a lot of dot-com companies, and a lot of them are scams that have no value whatsoever, and they've all been cleaned up. Now we have a very useful and legitimate company site," he said. According to Brad Garlinghouse, CEO of cross-border blockchain payments company Ripple, there is likely to be only one cryptocurrency score remaining in the future. 

"I think the question is whether we need 19,000 new currencies today. In the fiat world, there are probably 180 currencies," Garlinghouse said. Guggenheim Chief Investment Officer Scott Minerd called most cryptocurrencies “junk,” noting that Bitcoin and Ethereum will remain. 

The cryptocurrency market has been in turmoil lately. Bitcoin's top digital coin is down more than 50% from its all-time high above $68,000 set in November, and many other digital tokens are also down from their all-time high. Analysts say one of the main reasons for the drop in prices is the low risk appetite of traders and investors amid the global cryptocurrency crackdown.

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