Head of Ripple predicted disappearance of 99% of cryptocoins

by in Cryptocurrency News

ripple disappearance alcoins

Most cryptocurrencies will disappear and only quality assets will remain. This opinion was expressed by Ripple CEO Brad Garlinghouse in his forecast for 2020.

Related: Ripple invests in biometric cybersecurity startup

According to him, in the near future, the futility of more than 3,000 existing digital assets will become clear to everyone and consolidation will occur. As a result, cryptocurrencies that have real use and market demand will remain.

Garlinghouse added that the number of coins that survive is a moot point, but he believes that it is about 1%.

CoinMarketCap has 4972 digital assets, and CoinGecko has 6449.

Earlier, analyst Larry Chermak concluded that the price of 95% of the existing cryptocurrencies is technically equal to zero since they do not have any liquidity.

Trader and analyst Tone Vays also predicted the death of altcoins. In his opinion, they will be replaced by bitcoin.

Some expect a new bubble in altcoins and an increase in the crypto market to $11 trillion.

Trending: Wells Fargo Says Crypto Can Be a Part of the Next Digital Era

Recall, the head of Ripple called the outgoing year the strongest in the history of the company.