US President of FTX, one of the global cryptocurrency exchanges, Brett Harrison says that many altcoin projects accepted today will be abandoned soon, and he makes a 5-year price forecast for Ethereum (ETH), Solana (SOL) and Avalanche (AVAX).
Brett Harrison says most Blockchains will fog up from the market
In a recent interview with Thinking Crypto YouTube channel, the market now expects massive consolidation as hundreds of Blockchains are born:
Here are a few of the crazy guesses I trust a little bit. First, I believe the blockchain industry will consolidate. There will not be 200 separate blockchains. I believe we will get a lot of good products that are widely used, while others will disappear.
Harrison has launched competing first-tier smart contract platforms such as Solana (SOL) and Avalanche (AVAX), in addition to well-established cryptocurrencies in the industry such as Bitcoin (BTC) and Ethereum (ETH).
Bitcoin is probably still around because it was the first. Ethereum is probably still around because it was the first blockchain to combine smart contracts. Few layers-1 will be successful in the long run. I think we’ll see over time which altcoins like Solana or Avalanche actually run out. Part of this will be about the nature of the technology, and part of it will just be about where the killer apps are developed.
According to Brett Harrison, the long-term potential of altcoin projects can be trusted
The head of FTX.US, whom we quoted as Kriptokoin.com, despite the daily price volatility in the market, Blockchain. The amount of money and effort put into the industry, he says, gives confidence in its long-term potential:
Think of all the institutional and venture funds that have poured into crypto over the past few years. Hundreds of billions of dollars. Whatever the asset values are right now, you know there is ongoing investment, intellectual capital and technical innovation. This, I think, means bullish for the region in the long run. It’s hard to say what this means in terms of asset values in the short term, and that’s not my area of expertise. I am optimistic about the progress of the industry and technology, given how much effort has gone into it.
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