Brett Harrison Projects Bright Future For Ethereum, Solana & Avalanche

Brett Harrison, the president of crypto exchange FTX.US, projects that going forward many of today’s blockchains will not exist in the future.

Harrison who spoke with Thinking Crypto YouTube channel, said that he foresees a sizable consolidation, as the crypto space has grown to hundreds of individual blockchains.

Here’s a couple off-the-cuff predictions that I have very weak conviction about. One is I think we’ll see consolidation in the blockchain space. We’re not going to have 200 different blockchains.

I think we’re going to end up with a couple that are really, really good and are mostly used while the other ones will drop away.”

Regarding which specific projects will have future, he opined that industry household names such as Bitcoin (BTC) and Ethereum (ETH), and competing layer-1 smart contract platforms Solana (SOL) and Avalanche (AVAX) look strong going forward.

“Bitcoin likely still exists because it’s the first. Ethereum probably still exists because it’s the first real smart contract-based blockchain.

There’s a handful of layer-1s that are contending for spots for longevity. I think things like Solana and Avalanche, and we’ll see which ones of those truly went out over time.

Part of it will be the merits of the actual technology and part of it will just be, where are the killer apps being created?”

Harrison also noted that regardless of the day-to-day market volatility, the amount of money and work that have been invested into the blockchain space, are indicators that it has a bright future.

“Think about all of the institutional capital, the venture capital that’s come into crypto in the last couple of years. Billions of dollars.

Regardless of what the asset prices are doing now, you know there’s investment, intellectual capital, technological developments happening.

I think that is long-term bullish for the space. What that means in the short term about asset prices, it’s difficult to predict and not my area of expertise.

I do feel pretty strong about the growth of this sector and the technology based on how much work is being put into it.”