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Title: Why some coins start with a really high price? Post by: innocentlamb on February 03, 2018, 07:44:43 PM Guys I have a question. I came across few coins on Coinmarketcap and looking at the graph they started with pretty high price ($100+) and then dropped to cents or even below cents. How does this happen?
Example: https://coinmarketcap.com/currencies/electra/ or https://coinmarketcap.com/currencies/roulettetoken/ Title: Re: Why some coins start with a really high price? Post by: bitcoinblog on February 03, 2018, 08:53:20 PM If you are new then like to inform you , Crypto market is " Speculation Market " no assets are behind any coin except the usage by users. And that is why u can see with every Good and Bad news coins prices are getting change.
Also like to add one main point , Price increased or decreased depends on Demand and the Max supply. Total Supply for RLT : 10,217,961 RLT And if u see in USD or BTC that is not much price. Title: Re: Why some coins start with a really high price? Post by: SimplyEverything on February 03, 2018, 10:45:27 PM Some coins has limited supply therefore the price would be slightly higher cause it's like gold "rare"
Some coins ICO are sold at high price therefore the value of the coin is somehow set at the ICO price e.g $10, no one would be so "kind" to place an order of $5 when they bought the coin at $10 Title: Re: Why some coins start with a really high price? Post by: King Koy on February 04, 2018, 03:28:13 AM Guys I have a question. I came across few coins on Coinmarketcap and looking at the graph they started with pretty high price ($100+) and then dropped to cents or even below cents. How does this happen? High price of an altcoin on its first stage is depend on the number of the coin or token. So it is always depends on the project. Example: https://coinmarketcap.com/currencies/electra/ or https://coinmarketcap.com/currencies/roulettetoken/ Title: Re: Why some coins start with a really high price? Post by: beggo on February 04, 2018, 03:47:28 AM Depends on the circulating supply and market cap. There was a high speculation into it so people invested and caused the market cap to go up. Then the price went down and people pulled money out so market cap went down. Price = market cap divided by circulating supply
Title: Re: Why some coins start with a really high price? Post by: Ubay82 on February 04, 2018, 04:54:45 AM Guys I have a question. I came across few coins on Coinmarketcap and looking at the graph they started with pretty high price ($100+) and then dropped to cents or even below cents. How does this happen? High price of an altcoin on its first stage is depend on the number of the coin or token. So it is always depends on the project. Example: https://coinmarketcap.com/currencies/electra/ or https://coinmarketcap.com/currencies/roulettetoken/ so all should be based on the project or the value of the project Title: Re: Why some coins start with a really high price? Post by: pooya87 on February 04, 2018, 06:02:49 AM the first one was actually $800+ before falling down to nothing ($0.001)!
and here is the mysterious "how": move your mouse to the highest price and check out the "volume". it was $40 which was also coming from 3 markets in total. that is how the price started from this high a price. when a coin is listed on an exchange, in the first moment nobody has anything because the coin was just listed and there was no deposit option. so the owner or maybe the exchange places the first orders. we are talking about a completely empty orderbook. at what price do you place the order? that is your choice. you can place it at $1,000,000 if you wished. now you obviously have bitcoin prior to this on that exchange. you simply buy $40 (a small amount) so that price is recorded in the history books. and there you have it, initial price of $1,000,000 with only $40 volume ;) Title: Re: Why some coins start with a really high price? Post by: chaitanya31 on February 04, 2018, 06:45:24 AM More the volume of transaction the higher the price of crypto.
And good example is bitcoin,you see bitcoin is the crypto that have the highest volume of transaction that why it's the most valuable crypto. These are exactly like stock market, instead of ipo we got ico which is initial coin offering. The prices are decided by buyers and sellers. The exchange where the coins are bought or sold ( poloniex) reflect the same prices only.. The future is going to be good for cryptocurrency and next 5 years there will be millionaires. |