Experts have made a negative forecast for the future of cryptocurrencies

Cryptocurrency industry experts interviewed by CNBC believe that amid a severe correction of the crypto market, the number of existing digital tokens and blockchains will be significantly reduced in the coming years.

Currently, there are about 19 thousand cryptocurrencies worldwide. In the future, there will be only a few dozen of them, experts believe. They believe that the signal for this was the recent collapse of the so-called algorithmic stablecoin UST and the related digital token Luna, comparing the existing crypto industry to the dotcom bubble in the early 2000s.

According to Bertrand Perez, CEO of the Web3 Foundation, there are now a very large number of blockchain platforms and a lot of tokens. And this confuses users. Guggenheim Chief Investment Officer Scott Minerd added even more pessimism, saying that most cryptocurrencies are just air, but BTC and ETH will survive, albeit at a significant price drop.