As is abundantly clear from any volatility charts available for the main crypto currencies, while the degree of the swings may vary, cryptocurrencies in general tend to largely trade in tandem. But as in fiat, cryptocurrencies have their own properties and characteristics, which begs the question:
What Will Lead to a Decoupling of Cryptocurrencies?
The differences between bitcoin (BTC), ether (ETH) and ripple (XRP) are manifold. The simple fact that few have been able to reach consensus on whether various cryptoassets are a commodity, a currency or a security, suggests that these assets are not all the same. Some argue each of these represent, respectively, a commodity, a currency and a security. So far, just CFTC is on record saying certain cryptoassets are commodities, a view upheld earlier this year by a US federal judge, who upheld that cryptos are commodities, while the SEC has said BTC and ETH are not securities. So official designations have been murky at best.