One economist I really like and follow refers to crypto as Andy Warhol paintings. All show and no substance. They can speculate with it all they want. Wasteful as it is. But it will never replace a sovereign currency. As long as a sovereign country's economy is stable. Which anymore, looking a bit wobbly. Explain why our inflation is over 7 percent and China's is 0.9? Supply chain issues? What about price gouging to make up for the economic slowdown. Who supplies the world with goods now and what happened with made in USA? Go back 40, 50 years to see.
In Cryptos defense, nothing could replace a sovereign currency as long as its nation is stable. Nor should it try. Cryptocurrencies might end up being a supplement economy, though.