This understanding is so wrong, when you want to know which is cheap or expensive crypto, simply look at their market cap, the market cap of a crypto is decided by crypto price multiple its circulation supply. The higher supply, the lower price per coin/token,
i disagree.
first of all let us clarify why we even talk about "cheap and expensive". these attributes are meant to be used when trading/investing in some altcoin. and we do that when we see a rise coming. being cheap or expensive, market cap, circulating supply, being scam or not, even having a blockchain and producing blocks,... none of it has anything to do with the price. for instance XRP is one of the worst coins in existence. it is 100% premined, it has a fake market cap and it is always going to be expensive. but last year it had about 10000% rise and the profit was insane.
as you can see market cap doesn't even come to play. XRP ($12 billion) with 100 billion premined coin and 40 billion circulating or ETH ($28 billion) with 101 million circulating, no cap and 72 million premine are expensive with your definition but they got big pumps and had good returns as short term investments.
now lets look at the other side of this. a coin with low supply, low price and low market cap. ByteBall for instance. it has 662k coins in circulation with $52 million market cap and price of $78. it is one of the good coins with an interesting technology and a decent team. now based on your definition this coin is super cheap. but is it really?
you mentioned TRON as expensive, i call it a shitcoin. but it had 8000% pump last year.
so yeah, you can use your definition and call them cheap/expensive for philosophical reasons but not for investment reasons. that doesn't show you anything.