How is it possible there are altcoins costing more than BTC?

[NotATether]

Recently I stumbled across some unknown altcoin called 42-coin which is selling at more than $20000 on coinmarketcap. This makes it twice as valuable as bitcoin, and here I use the word "valuable" specifically referring to selling price. Then there are other altcoins like Wrapped Bitcoin and RSK Smart Bitcoin that are nearly as valuable as BTC.

Here is the list of top 10 coins sorted by price. As you can see the list is dominated by weird altcoins:



I get that coinmarketcap is notorious for listing fake trading volumes, but how these coins became valuable while having practically no market cap is dumbfounding.

[psycodad]

I get that coinmarketcap is notorious for listing fake trading volumes, but how these coins became valuable while having practically no market cap is dumbfounding.

Check the colon named "Circulating Supply", there are only 42.42 42 coins in circulation.
That's the reason a single 42 coin is more expensive or valuable than a Bitcoin where roughly 18mio are in circulation.

[Javi_Anibarro]

42-coin is an old coin, it was founded in 2014 and mainly it was focused on the developer themselves instead of becoming another payment system. As far as I know, nobody is holding a single coin because of its scarcity, another reason why CMC still lists it despite it has little volume because the coin has an exchange to trade and CMC collects the price based on exchange API. Nothing strange if you are already long enough in this ecosystem, everything seems possible here.

[ohyeahhaha122]

you should compare their Market Cap because the Market Cap is calculated from the value of the coin and their Circulating Supply,That is the true value of the coin, so The price of some altcoins may be higher than bitcoin because of their rarity, there is currently no altcoin worth more than bitcoin.

[Ucy]

Wrapped Bitcoin should be worth thesame as Bitcoin,as it is backed by the price of Bitcoin. It's basically what stablecoin is to fiat currency.

This is actually my first time of seeing 42-coin.. . I'm a bit surprised.    It has one of the lowest supply and circulating supply in Crypto market. It had an even more surprising All Time high: $992,883 USD (Jan 14, 2014).
 Those are probably why the price is this high-end

[mersal]

Wrapped Bitcoin should be worth thesame as Bitcoin,as it is backed by the price of Bitcoin. It's basically what stablecoin is to fiat currency.

This is actually my first time of seeing 42-coin.. . I'm a bit surprised.    It has one of the lowest supply and circulating supply in Crypto market. It had an even more surprising All Time high: $992,883 USD (Jan 14, 2014).
 Those are probably why the price is this high-end

When the developers itself buying and selling those coins on shit exchanges then these much valuation is still possible but we also have to notice the total marketcap value of that coin to avoid investing on shit bump and dump coins.

[Kvalentine]

yes its very possible, these coins are not even on top 20 list on coinmarketcap, let's start from Max supply, few coins have very low max supply thus making them very very costly more than bitcoin itself, mind you this doesnt mean they are better

[knuckey]

All the alt you say are correct and can be traded, it's just that there are other reasons that make the price the same or higher than Bitcoin. There is no need to doubt, because from the table you have given it is enough to be understood, but don't expect if the alt are worthy and comparable to Bitcoin.

[Bitcoinislife09]

We never know but it is possible for sure but it doesn't mean it is going to happened since bitcoin is already established a big community for sure more than altcoins or other tokens.
This is only possible is an altcoin is going to click like what happened to bitcoin and become so popular but as of today these tokens tend to have a bad image so I don't think it is going to be easy to surpass bitcoin when it comes to pricing, we know what experience and developments happened before bitcoin has this thousand dollars price in the market.

[Tipstar]

I too was unaware of this but that coin do have an announcement thread here in bitcointalk. https://bitcointalk.org/index.php?topic=1502028
It's limited in supply. 42 total. It's all time high was $805641.
Almost all of it's volume is coming from Livecoin, an infamous exchange. It pretty much explains the price as it could just be a fake number.

[Ryker1]

Well, 42-coin and wrapped bitcoin have different stories. The Wrapped bitcoin is legit as it is backed by the price of the bitcoin. But the 42-coin is none and you can definitely see how many coins are circulating on its ecosystem. Almost none right?
Just try to avoid acquiring shitcoin and that's it, --Coinmarketcap can show you all the cryptocurrencies registered on their data but it doesn't mean that everything on the Coinmarketcap are legit. Indeed, most of the coins registered there are shitcoins so be careful still.

[Febo]

How is it possible there are altcoins costing more than BTC?

Since there are over 18 million Bitcoin, it is very easy for altcoins to be worth more then Bitcoin is worth. You just put in protocol that there are less in existence. If there would be 18000 Bitcoins, each of them would be worth 1000 times more, so $10 million

[Baoo]

Oh I have seen  the first coin before, it is definitely one of the oldest crypto in the market , but OP take a look at the 42-coin's circulating supply, it is 4242 and now make a comparison  with Bitcoin ( more than 18 million BTC of CS ), so there is a huge difference between them even in the value of market cap and volume, and the same thing for the second coin " Wrapped Bitcoin".
In fact, the old altcoins are not always gold except Bitcoin ,It will certainly remain on the top of cryptocurrencies.

[fortunecrypto]

Recently I stumbled across some unknown altcoin called 42-coin which is selling at more than $20000 on coinmarketcap. This makes it twice as valuable as bitcoin, and here I use the word "valuable" specifically referring to selling price. Then there are other altcoins like Wrapped Bitcoin and RSK Smart Bitcoin that are nearly as valuable as BTC.

Here is the list of top 10 coins sorted by price. As you can see the list is dominated by weird altcoins:



I get that coinmarketcap is notorious for listing fake trading volumes, but how these coins became valuable while having practically no market cap is dumbfounding.

First time I read that coin and would not even think of buying that coin even though it's an old coin I consider this a shitcoin and I don't know why the price is that high maybe because of the supply, only 42 coins supply quite different just when every developers are creating billions supply of coins this one has done the opposite.

[passwordnow]

There's only 42 circulating supply for that coin and the volume isn't really so high. I've seen in the past that there's also another altcoin that costs more than bitcoin but it's likely to be a scam and was created just for the devs to make money.
Just ignore these coins, they are nothing honestly.

[shinratensei_]

Wrapped Bitcoin should be worth thesame as Bitcoin,as it is backed by the price of Bitcoin. It's basically what stablecoin is to fiat currency.

This is actually my first time of seeing 42-coin.. . I'm a bit surprised.    It has one of the lowest supply and circulating supply in Crypto market. It had an even more surprising All Time high: $992,883 USD (Jan 14, 2014).
 Those are probably why the price is this high-end

When the developers itself buying and selling those coins on shit exchanges then these much valuation is still possible but we also have to notice the total marketcap value of that coin to avoid investing on shit bump and dump coins.

Supply matters a lot to determine the price of shitcoin that can worth a thousand dollars for each but it looks like OP must ignore it as the majority of the dead coins without volume.
OP must understand how the market works today. I guess if that is not a real price but it's the price caused by the pump and dump that created by the whale.
Maybe those coins worth a lot of money but they are garbage coin without any usefulness. 42 coins is a dead coin.
It has no buy orders and the exchange site is also helping them manipulate the price.

[LbtalkL]

Those coins are very far from bitcoin in terms of marketcap that 42 coin has only $353  volume what a joke coin. Look at the Circulating Supply 42 coin has 42 supply and wrapped bitcoin is 622. And be aware those coins are not trading as a whole coin for sure probably 0.0001 or lower   they reach that price because of the low supply.

[Tduty]

This is not a new coin, I saw this coin in 2017! And that time this coin's price was far higher than Bitcoin, lol! But Look at the volume mate! No one is buying this coin, no developers. It's a pure joke, nothing else.

[Kupid002]

take a look at the supply and you will see why the price of each coin is higher compare to btc. You dont need to look at the volume since there will be no more buyers want to buy this coins.
There are more other coins before but they are delisted now in exchange.

[minairia3]

The supply is so small only 42 so that would be really expensive esecially if the coin is traded by only 1 user and play with the price. I heard of this project too before but obviously they dont gave anyone their coin. If your gonna buy this be careful cause it could be a trap they just wanted other's to buy this coin as it has so low supply. Good that you mentioned this because maybe some will be interested to buy this coin which is traded only by the developers.