People are getting tired of the SWIFT skimming operation on their purchases and sales. Bitcoin started out the year at US$800 and it hit 2100 today. Ethereum started the year at US$10 and just hit 146.
Cryptocurrencies go up and down even more severely than manipulated US$ (private unbacked tender offers) and probably only three or four of them will survive the coming 2020 shake out. On the US Wild West frontier in the 1800's every little private bank printed up their own paper fiat money and this great expansion of dubious credit helped to finance the rapid build up of the West. Bad money tended to push out good money as most people kept their most sound currencies at home buried outside in a can. They tried to sell (tendered) their most unstable currencies for supplies and hard goods. At the next manipulated economic crash everyone found out which banks and their proprietarily printed currencies were insolvent, and the cycle started all over again.
This still goes on, its just that the system is centralized into one large fluctuating private printing bank, The Federal Reserve Bank. This is how the elites shift the middle class' hard-earned savings up the ladder to the undeserved.
That is probably the situation in cryptocurrencies with new groups of financiers floating their latest novel currency. And cryptosavers trying to get rid of their most recently coined (IPCed), unbacked and unstable cryptocurrencies first in case they crash, in favor of keeping saved back their most logical cryptocurrencies, with inherently useful structures and large populations of committed transaction users.
Remember, in the German WWII POW camps US prisoners using their arbitrary chosen addictive cigarette currency, found that the cigarettes became increasingly more valuable at the end of the month as they got smoked up. Then the monthly Red Cross truck came around again and flooded the camps with newly manufactured cigarettes and temporarily crashed their transaction value as "negotiable instruments".
Steve