The crypto market experienced a mixed day recently, primarily influenced by comments from U.S. Federal Reserve Chair Jerome Powell regarding potential tariffs that could impact economic growth. Bitcoin’s price saw a slight uptick to $84,312, while Ethereum found a little relief, rising to $1,596.

In the midst of this, former SEC Chair Gary Gensler made headlines by suggesting that only Bitcoin may stand the test of time in the cryptocurrency realm. His assertion raises critical questions about the future viability of numerous altcoins, bringing attention to the specific challenges these tokens face.

Gensler’s comments underscore an important discussion about the survival of cryptocurrencies. As the market cap of cryptocurrencies nudged up slightly to $2.64 trillion, the focus seems to shift back towards Bitcoin’s long-term potential and stability.

Such statements from authoritative figures like Gensler could heavily influence investor sentiment and the operational strategies of altcoins, bringing a new layer of urgency to the discussions around blockchain technologies.