Nowadays, cryptocurrencies continue to get popular, especially in online purchasing. Most customers online rely on crypto projects. However, not all available digital assents can deliver customer needs.
According to a recent estimate by Ripple CEO Brad Garlinghouse, as many as 99 percent of all cryptocurrencies are expected to go nothing.
Garlinghouse also claimed that too many crypto programs exist. Last November 5, Bloomberg released an interview with Garlinghouse. He said that as of today, there are too many cryptocurrencies everywhere. Foreseeing this situation, he said that only 1% of all cryptocurrencies would survive.
This is not a great news for customers and people who rely on crypto projects. They have to know that only a small number of crypto projects will experience significant growth. Therefore, only a small amount of cryptocurrency can solve customer’s problems, too. This news also came from Brad Garlinghouse during his interview.
Great Market Buzz Causes Crypto Growth
The customers must know that as the crypto ecosystem’s hype goes higher, digital asset’s growth will also continue to increase.
As of today, there are more than 3,000 digital assets in the market. However, almost 99% of these digital assets are arguably going to nothing, and only a few can meet customer’s needs.
Some people have suffered from the bearish market in the past year. Therefore, customers should start determining which reliable cryptocurrency project to use for their daily transactions.
Here’s Garlingfield’s exact statement:
“Anytime there is a new market; there are a lot of people that run into that market and try to show that they can solve a problem; they can deliver a customer need.”
Garlingfield on SWIFT’s Transactions Volatility
Many people know SWIFT as an instant payment platform.
During the interview, Garlinghouse also talked about the Society for Worldwide Interbank Financial Telecommunications’ (SWIFT) “transaction volatility.”
According to him, the XRP token has a “1/10th the volatility exposure of a typical fiat SWIFT payment.”
Last July 2019, SWIFT had performed instant payment that only took 13 seconds.