Ripple CEO: Only 1% of Today's Cryptocurrencies Will Survive

As many as 99% of all cryptocurrencies will likely go to zero, according to a new prediction by Ripple CEO Brad Garlinghouse.

There are too many crypto projects, says Garlinghouse.

In an interview with Bloomberg released Nov. 5, Garlinghouse claimed that there are too many cryptocurrencies so far, forecasting that only 1% of all crypto is here to stay.

That small number of crypto projects will be game-changing and grow significantly in the decades since they will be focused on solving real problems for real customers, Ripple CEO declared.

According to Garlinghouse, the growing number of digital assets is caused by the hype around the crypto ecosystem.

"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."

In the interview, Garlinghouse has also criticized the Society for Worldwide Interbank Financial Telecommunications' so-called "Transaction volatility," elaborating that such phenomenon means a "Calculation of time and volatility."

Citing a recent article posted by Ripple on XRP's enhanced volatility exposure, Garlinghouse argued that the XRP token has "1/10th the volatility exposure of a typical fiat SWIFT payment."

In July 2019, SWIFT announced a successful trial of instant cross-border transfers in Asia, claiming that the instant payment pilot performed payments taking up to 25 seconds, with the fastest taking 13 seconds.

The tests involved interaction between SWIFT's Global Payments Innovation instant payment platform and Singapore's domestic instant payments solution FAST. As previously reported, SWIFT will allow distributed ledger technology firms to use its GPI platform.