There are at least two aspects to consider when you deal with cryptocurrencies:
- Short term: how much money can you earn by trading?
- Long term: is it worth hodling it for the coming years?
Let's go for the short term first: almost everyone is happy currently, there are so many good news for Bitcoin that it continues to increase, and the altcoins pump even faster, due to their higher volatility. We all know it is pure speculation, even the most stupid altcoin can increase, everyone is blind in such a moment. Personally, I think there is a lot of money to make with BNB and all the DeFi protocols on BINANCE Smart Chain - click here for more info.
However, most of you are hodlers: you believe in the long term potential of cryptos, and even think it can replace the fiat currencies. I will not start a debate on this, although I am not sure it can replace fiat currencies. From my point of view, a crypto is more a crypto asset than a crypto currency. Bitcoin is becoming a digital gold, and the most successful altcoins like Ethereum, Cardano, Polkadot are smart contract blockchains for DApps & DeFi.
It is also interesting to see that the cryptocurrencies which have a clear strategy like Elrond eGold (EGLD) are surging faster than the other ones: eGold is a store of value with staking rewards associated to a mainnet and application allowing fast payment with low transaction fees - click here for more info.
However, that's still short term thinking. Let's look further: what will remain in 10 years from now? According to the website 99bitcoins.com:
There are currently 1559 dead coins. “Dead coin” is a term given to a cryptocurrency that has ceased to exist. A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more.
If you look at the three reasons above, which ones will survive the next decade? I will give it a try - please feel free to complete this list:
- Bitcoin: no doubt
- Ether: no doubt... either (hahaha)
- Cardano: it will survive to Charles... it has a strong foundation
- XRP: this one could be banned... nobody knows
- Polkadot: a strong project, like Cardano
- Tezos XTZ: the French Cardano, a strong one too
- Cosmos ATOM: the blockchain will likely survive
- LINK and BAND: their oracles will remain useful for DeFi
- eGold: a really strong project with a clear vision
- BNB: so strong in the short term... could it collapse? It depends on regulators, but CZ is so smart that he could become one of the richest men WW
- BCH, LTC and other BTC copies: they will likely survive... like dinosaurs (hahaha)
- DeFi tokens like COMP, SNX, YFI: they will survive if the protocols survive i.e. if they continue to offer good farming yields
- Others: many other coins can be added - it is more than challenging to make a comprehensive list - however, I would bet on the above ones first
In summary, many coins or tokens will survive. Most of them are in reality assets (rather than coins) which could be the basis of new financial institutions. It has already started with Grayscale, and it will continue with the PriFi trend. As any financial assets, they will survive as long as they are profitable.
