How is that "safe to say"? Purely a guess, like anyone's guess.
Looking at numbers, BTC went up 15.8% in the last 24h, up 16% in the last 7 days. Global marketcap of cryptocurrencies went from 804B USD in November 2022 to 1,121B USD today (~32% increase). If anything, it seems to slowly recover.
Although I agree that NFTs are trash and should be forgotten about. But the cryptocurrency market as a whole seems to be more resilient than many think.
Crypto might stay popular, but I also don't see any indication that web3 will live up to the hype. They still haven't found real use cases that need web3.
Crypto, however, will remain popular as long as governments don't ban it.
Reasoning about the usefulness of crypto currencies based on their quoted price on various fraudulent exchanges should not be a signal of anything. We should normalize on quoting non-spoofable adoption metrics to indicate if they’re going anywhere.
Long term probably 2 things will happen. Though obviously no one can predict the future.
1. Public cryptocurrencies will remain there as a sort of niche investment (betting?) vehicle. Something like "VWOB - Emerging Markets Government Bond ETF". Did you know about that one? Neither did I.
2. Private permissioned blockchains will be used in specific niches. Think Corda and some finance applications, whatever the commodities thing is called, I forgot its name.
But the long tail of Bladogelitecoin and the likes will go poof once line stops going up.
Perception is reality though. The average person doesn't care about the difference between BTC and ETH and ERC-20 tokens, it all looks like the same get-rich-quick scheme. People aren't reading whitepapers, every coin has one. They're evaluating Youtube thumbnails as their source of information.
