There are currently over 19,000 cryptocurrencies and dozens of blockchain platforms in existence.
Blockchain is the technology that underpins these digital currencies and platforms include Ethereum, Solana and many others.
Many of the industry executives see the current state of the market as unsustainable.
Brad Garlinghouse, CEO of cross-border blockchain firm Ripple, predicted there may only be “scores” of cryptocurrencies left in the future. He said there are around 180 fiat currencies in the world and there is not really a need for that many cryptocurrencies.
