There are more than 19,000 cryptocurrencies and dozens of blockchain platforms in the world today, but a number of cryptocurrency firms have said that many digital tokens will collapse and the number of blockchains will shrink in the coming years, CNBC writes.

The forecast made by cryptocurrency experts is not the rosiest: for example, Brad Garlinghouse, CEO of Ripple, a cross-border blockchain payments company, expects there will be “dozens” of cryptocurrencies in the future.

A blockchain platform such as etherium is the underlying technology on which many of the various cryptocurrencies are built.

The recent collapse of the so-called Terra USD algorithmic stablecoin and the related Luna digital token, which rocked the market, brought the vulnerability of cryptocurrencies to national attention, after which many experts began to increasingly question whether all of these digital currencies would survive.

The parallel between cryptocurrencies and the dotcoms was drawn by Bertrand Perez, CEO of Web3 Foundation, who believes that the Terra crash was one of the consequences of the fact that there are now too many blockchains and tokens on the market, which is confusing for users and carries some risks for them. As in the early days of the internet era, there were many “dotcom companies” and many of them were fraudulent and provided no value, but then the market cleansed itself of them, with the result that there are now very useful and legitimate companies.

Many experts agree that most of the crypto coins will be gone in the future. The only question is which ones will remain. For example, Guggenheim Chief Investment Officer Scott Minerd generally stated that most cryptocurrencies are “garbage” and only bitcoin and etherium will survive.

Currently, the cryptocurrency market continues to be under pressure. Bitcoin is down more than 50% from its record high reached in November, and many other digital tokens have fallen sharply from historical peaks.

Today, many different blockchain platforms, from etherium to Solana, are vying for industry leadership.