Crypto firms say thousands of digital currencies will collapse, compare market to early dotcom days
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There are more than 19,000 virtual currencies in existence and dozens of blockchains that exist. Industry players have likened the current state of the market to the early years of the internet. Comments from the industry come as the cryptocurrency market continues to feel pressure. Bitcoin is off more than 50% from its record high it hit in November, with many other digital tokens sharply lower from their all-time highs. Many different blockchain platforms from Solana to Solana are vying for a leadership position in the industry. But Brett Harrison, CEO of cryptocurrency exchange FTX U.S., said the hundreds currently in existence will not all survive. Source