Based on what I've read and heard, the CLARITY Act will hurt a lot of new altcoins trying to enter the market. I think legislation will make the rules tighter and we could possibly see the end of many altcoins, the ones with no purpose. We really don't need that many cryptocurrencies. There are thousands of cryptocurrencies, more are created each year, and thousands that disappear every year (scam, or they lack a purpose).
What do you think?