I can't say for sure, but I think cryptos are actually behaving a bit more like precious metals, in that people use them as speculative store of value - so a bit like you say, commodities.
The other thing that surprises me is the sheer number of currencies that currently exist - I had thought there would be a massive shake-out in the market but so far they seem to be multiplying like fungus.
The other thing that surprises me is the sheer number of currencies that currently exist - I had thought there would be a massive shake-out in the market but so far they seem to be multiplying like fungus.