The Ledger: Crypto Consolidation, St. Vitalik, Interest Bites Bitcoin

In today’s cryptocurrency landscape, it’s striking how many companies offer the same services. There are numerous exchanges, multiple wallet providers and, heck, there’s even a glut of crypto media outlets.

When times are good—think $20,000 Bitcoin—such plenty isn’t a problem. The pie gets bigger, customers pour in and everyone grabs a piece of the market. What about now? Prices are stuck in a gutter, public interest in crypto has waned, and trading volume is down 90% in some quarters.

Right now, it feels there are too many players on the board and—as with any industry downturn—consolidation is a logical response. In a possible sign of things to come, Korea’s NXMH last week acquired the venerable Luxembourg-based BitStamp exchange. More consolidation feels inevitable. Might rivals Coinbase and Circle, which recently partnered on a stable coin, grow closer? Will there be mergers among the horde of companies…