Cryptocurrency Expert Predicts Mass Extinction of Altcoins

Arthur Hayes, a well-known figure in the cryptocurrency industry, has shared his insights on the potential fate of alternative cryptocurrencies (altcoins). In a recent event, he stated that approximately 99% of altcoins may ultimately cease to exist. This prediction is based on his observation that most software projects fail due to inadequate user acquisition.

Hayes drew parallels between the cryptocurrency market and traditional markets by citing the example of the S&P 500 index. He noted that since 1929, around 98% of companies listed in the S&P 500 have gone out of business, a phenomenon he described as a 'normal market cleansing process.'

Hayes emphasized that tokens should be viewed as software rather than traditional assets. This perspective highlights the reality that many software projects fail due to various reasons, including inadequate user adoption.