Decrypting cryptocurrencies
(PHYSorg.com Mathematics)

Cryptocurrencies have been treated as a financial terra incognita-they have enjoyed growing interest but also raised concerns due to their virtuality. The use of statistical methods utilizing correlation matrices to analyze the hundred most-traded virtual currencies shows that the cryptocurrency market in the last two years is less and less different from the mature global currency market (Forex) and becomes independent of it. It means cryptocurrencies can be considered a serious and full-fledged financial instrument.