According to a report by CoinMeta on February 23, Greg Cipolaro, Head of Research at NYDIG, pointed out that the "investable scope" in the crypto space is narrowing, mainly focusing on applications or services that "extend traditional financial products onto blockchain infrastructure." He added that, apart from use cases such as Bitcoin, tokenized assets, stablecoins, some decentralized financial infrastructure, and a few general-purpose blockchains (such as Ethereum), "the probability of large-scale blockchain applications appearing seems lower than previously expected."