The easiness of creating tokens on existing blockchain has seen the crypto market flooded with different crypto assets. This really have an effect on the price level of cryptocurrency but the confusing question is how? I will really appreciate a clarification on the connection between token emergence and the price level of cryptocurrency market.
In so many ways other than one. In economics, the more you have plenty of product in the market, whether same product or optional product, the more the price collapses because value won't be placed on them. Again, some optional products are used as competition to the superior product or commodity.
This is a keen to what is happening in crypto. Bitcoin is known to be the most valued crypto but we now have many other thousand crypto that are in competition, some will never get into the top hundred coin but they are crypto. So, inferiority collapse a value product.