> because they suddenly can more easily People do "more" when stuff gets easier for a lot of other things. But if you want to drill down on this specific situ

> because they suddenly can more easily People do "more" when stuff gets easier for a lot of other things. But if you want to drill down on this specific situation, think about how many "newbies" must have come to Coinbase because of the recent Bitcoin surge. They weren't using any other online wallet or exchange - just Coinbase. And now suddenly they have an extra cryptocurrency option. A lot of them will try it out, thus increasing the price of the coin. This is also exactly why Bitcoin is maintaining a leadership among cryptocurrencies and will for the foreseeable future, despite being so much worse in many areas compared to newer cryptocurrencies. Bitcoin is the "de facto" cryptocurrency accepted not by 50%, 70%, or 90% of the crypto exchanges out there, as some of the other cryptocurrencies are, but by 100% of them. Also, all the other cryptocurrencies are exchanged into Bitcoin. There are very few other cryptocurrency "markets" other than Bitcoin. Some exchanges support turning your other cryptocurrencies into Ethereum for instance, but not all of them, and even for those that do, people still prefer to exchange into Bitcoin. The "first mover advantage" is very strong here, and Bitcoin will continue to benefit from it until maybe every other cryptocurrency is 10-100x better than Bitcoin in every way and everyone will wake up one day and say "wait, why are we using Bitcoin as the default currency again?!" But it's not a guarantee that will happen soon, or even ever.