Several experts in the cryptocurrency industry expect thousands of digital coins to collapse. The number of blockchain platforms is also expected to decline.
The collapse of TerraUSD or UST and Luna led to concerns that many cryptocurrencies will suffer the same fate. Currently, there are more than 19,000 coins.
Many experts believe that too many blockchains and cryptocurrencies today create confusion and risks. Compare to the dotcom era when there were many dotcom companies, many of which were fraudulent companies. After the big crash in the 2000s, only real value-creating companies survived.
At the same time, many crypto industry players agree that While most cryptocurrencies are trash, Bitcoin and Ethereum are likely to survive in the future.