The cryptocurrency space could branch out into three different markets — and people may even stop talking about crypto as a single entity one year on, predicted Paul Brody, global blockchain leader at EY.

Bitcoin and ether have had a wild ride in recent weeks, with billions of dollars wiped off their market value, according to

Bitcoin, the largest digital currency by market cap, at one point plunged by 30% to hover near the $30,000 level. It has since bounced back partially to current levels of about $38,090, according to Coin Metrics.

There are currently three “very different” stories going on in the cryptocurrency space, Brody told CNBC’s “Street Signs Asia” on Tuesday.

1. ‘Meme coins’

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This segment of cryptocurrencies “could be categorized as investing as entertainment,” Brody said.

“It’s hard for me to predict where they’re going to go, but I don’t see them as having a…

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