Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.
There are many crypto assets that are currently in the market and are backed by nothing. This has shown that when it becomes too risky to invest in shit coins and why we should avoid it.
Moreover it's becoming clearer that in future a lot of shit coins are going to fall on their face and wipe out from the system.
The fall of FTX also showed the lacuna of POS as well. While ethereum moved to POS. I believe it has in one way or other affected the crypto ecosystem to lead to this fall.
Believe it or not the future is of crypto regulations. The thousands of crypto projects which have been launched without any meaningful backing are going to fall on face.
It's time of retribution for those altcoins
All the naysaying and scepticism of bitcoin will going to end soon. As in a well regulated market only are few currencies will be traded. And for sure bitcoin will lead from front.
It is good when we will have less coins. There will be less confusion to chose from.
I think the principle of "Survival of fittest" will apply to crypto coins as well. Only coins which are genuine and have some specific use will remain alive. The real shit coins will be dumped eventually. And new developers will also understand that there is no point in creating shit coins anymore. Overall we will have a much more clean community that will benefit the crypto users and investors. Bitcoin will always be the leader because for beginners crypto means bitcoin.