Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
Other tokens, known as utility tokens, are only meant to be used within the context of a particular network, so they can’t even technically be classified as tradable assets in the same manner of security tokens.

The decision by Tesla, and announced by Musk, was seen by some as a slight on the credibility of cryptos to become a viable method of payment against physical currencies.
In the case of cryptocurrencies, academia has barely scratched the surface with respect to identifying the determinants of their prices. For example, studies by Cheah and Fry (2015) and Corbet et al. (2018) claim that Bitcoin has no intrinsic value and that its price has persistently exhibited ‘bubble-like’ behaviour. Makarov and Schoar (2018) find that the prices of Bitcoin, Ethereum, and Ripple differ across exchanges for weeks. Outside of academia, the President of the United States recently tweeted that cryptocurrencies are based on “thin air”.1