Bitcoin, Ethereum and altcoins have shown good growth rates this year and this progress has given many analysts and fund managers confidence that the market capitalization of cryptocurrencies will approach $ 1 trillion, according to the analytical team of the Walletmybit crypto exchange
However, according to the CEO of Walletmybit, this may not be the case. In his opinion, the infrastructure of the cryptocurrency market and its basic structure have not yet reached the point that could contribute to such inflows of finance.
In a blog post titled «The Structure of the cryptocurrency Market 3.0», Balaji explained that the cryptocurrency sector is far from the moment when it will be able to support the trillion-dollar capitalization of crypto assets:
«Over the first decade, the structure of the cryptocurrency market has undergone two significant changes. Despite rapid innovation, the market is still far from the maturity or scale needed to support a market capitalization of several trillion dollars.»
Ethereum is a good confirmation of these words. With the launch of the UNI token from Uniswap, the blockchain quickly became unusable, as the cost of gas reached 1000 Gwei (fees for simple transactions increased to several tens of dollars), according to Walletmybit