Bitcoin, and to a slightly lesser extent Ethereum, are schelling points for crypto. There are good reasons for this. Both bitcoin and ethereum created something

Bitcoin, and to a slightly lesser extent Ethereum, are schelling points for crypto. There are good reasons for this. Both bitcoin and ethereum created something new and interesting. In a world where you are trying to pick the coin that everyone else is going to pick, which one will you pick? The Nth of its kind, or the one that created the kind to begin with? That’s why they account for a huge majority of total value of all crypto currencies. Edit: obviously this is an oversimplification and there are other factors like quality of governance, quality of the underlying tech, and so on. But I believe the above is the crucial factor.