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

[Anonylz]

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.

this is my first time of coming across a coin that is more expensive than btc in price, i always thought btc was the highest coin in the market, but now i see a coin that is twice th value of btc, not only that i saw 42 coin ATH in 2018 was "$193,158 -89.4% Nov 25, 2018 (about 1 year)" according to coingecko this is unbelievable, i don't want to imagine anyone that had bought this coin at that price back in 2018!!
i guess the reason why the price is so high is because of the very small supply, according to one of the admin on their telegram, the proof of stakes does not give rewards but rather it is deflationary and remove transaction fee to make the price increase, literary mining without reward,

needless to say 42 coin is very cheap at this current price , i think this coin is controlled by a very few users, afterall the supply is small so very possible to see price skyrocket since nobody is dumping anything and there is no more extra 42 coin to be mined.

[Rosilito]

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.

Sums it up. But I was a bit surprised though. And I even try to double check it, and it was real. However, the game here isn't circulating around the price itself. How big it may look like, majority of people here tends to considered a dead coin already, though it has a huge price in head.

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.

this is my first time of coming across a coin that is more expensive than btc in price, i always thought btc was the highest coin in the market, but now i see a coin that is twice th value of btc, not only that i saw 42 coin ATH in 2018 was "$193,158 -89.4% Nov 25, 2018 (about 1 year)" according to coingecko this is unbelievable, i don't want to imagine anyone that had bought this coin at that price back in 2018!!
i guess the reason why the price is so high is because of the very small supply, according to one of the admin on their telegram, the proof of stakes does not give rewards but rather it is deflationary and remove transaction fee to make the price increase, literary mining without reward,

needless to say 42 coin is very cheap at this current price , i think this coin is controlled by a very few users, afterall the supply is small so very possible to see price skyrocket since nobody is dumping anything and there is no more extra 42 coin to be mined.

It was definitely, controlled by a few users. So, the movement would just circulate around to the users who have it. So, once it already been consumed, what I mean, it turns to zero then it would be a farewell to such coin.

I am surprised with this, I never thought of alts would have bigger price over bitcoin. However there are some shady reasons behind that, right?

[thesmallgod]

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.

Livecoin is famous and one of exchange platform that I believe to some extent is decent. However, it could be because of the limited number of holders that are pumping the price. This is the very first time I will be seeing this coin. Anyway, just like the list has shown that there are altcoin with price higher than bitcoin, I do not see them as anywhere near bitcoin in term of dominance and market strengths. Non of the crypto available today is widely accepted more than the bitcoin. I have seen on multiple Reasons people quoting CMC without understand how CMC collect data that are being display.

[pikkie]

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.

I think the movement of coin prices depends on the demand at the exchange place, when they have a very good development on the platform and can make investors interested it will be very easy to make the price expensive, so not all coin prices depend on the supply.

[fortunecrypto]

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.

I think the movement of coin prices depends on the demand at the exchange place, when they have a very good development on the platform and can make investors interested it will be very easy to make the price expensive, so not all coin prices depend on the supply.

I don't think there is demand on this coin go check the 24 hour volume only $124, I consider this coin a shitcoin and can easily manipulated because of the very small supply, in my own opinion supply can make an impact on the price and demand of the coin, go check but it will still go down to the platform and development of the project attach to the coin.

[Leah38]

Some coins or tokens have fake pumps thus of the rise of value but if you look at it, there's really no volume. Thus the price is fake. And mostly if this happens, the possibility that the token is a shitcoin.

[aemma]

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.

The first thing to consider in this case is the circulating supply, how many is the total supply and how many is in circulation. The lesser the number in circulation the higher the price, because it will be considered scares and those who held won't be willing to sell. Therefore it is obvious that the circulating supply is very low when compared to Bitcoin hence why the price is higher then that of Bitcoin. Owing to this supply of a thing, that's why most projects which value their platform tries to ensure they control the amount of coins in circulation while those who are after profit don't mind. Lastly, it is good to know that even though their price is higher than that of Bitcoin it can't be compared to Bitcoin in all other terms because those coins are hardly heard of even with their prices.

[alani123]

Such coins are not much more than a joke. 42 coin started as a joke and I am very suprised that it's still having ANY volumes at all. I'm wondering why any exchange would list it. With no incentive to mine it I could only guess that its network is probably very vulnerable to 51% attacks. Perhaps the volumes it even has on coinmarketcap aren't representative of reality. I now see there's also another altcoin above BTC but being a direct bitcoin fork I would guess it also doesn't have a great future. It only bets on having a big per coin value based on low maximum supply...

[Ashong Salonga]

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.

When I have seen the image you have provided, I was shocked to the extent that make me think that "how can it be possible for an Altcoin to surpass the dominance of Bitcoin?" Then I have zoomed it and see what are those coins and left me thinking that I have not yet encountered any of those projects yet so how can it be possible that they are having such prices yet they are not recognizable by the public? If there is an instance that any coin will surpass the price of Bitcoin, then anyone should be able to know it since it will be over the news but not a single thing happened so I guess it wasn't true and that was just my opinion because I haven't been bump into any of those coins before.

[rdewilde]

Taking a look on the circulating supply, it says it all; that is, the circulating supply is very small when related with the circulating supply of Bitcoin. When something is in small quantities, it tends to be expensive because those who have it will not be willing to sell it and if they want to, then it will cost a fortune, this applies in the outside world and as well in the crypto space. Thus, Owing to this small circulating supply the price skyrocketed because the coins are in the hands of only few people, who doesn't look like they are selling either. This is actually my first time of coming across such coins and I wonder if they really have any use case.

[Japinat]

It's current price even if its higher than bitcoin is nothing if its' not profitable than bitcoin.
The thing is, bitcoin starts at a price of less than a dollar or almost worthless and rise up to almost $20,000, those coins didn't and they don't even have a good volume, they can only cause some curiosity on newbie but they don't look good against the experience investors.

Don't invest on them as you could loss your money when they dump, imagine with a very low supply, you seem like a major stockholder on a business that you are not sure if it has a good potential in the future, you are at big risk with that.

[Asuspawer09]

It is easy to create token that has a high market price in the market what you need to do is create a token that has a limited supply in the market just like what they are doing in an ICO.

If the token only has a limited supply and you created a token that the market price of the token should increase... It is basically what happened to that altcoins list.
But the point is bitcoin has a volume and also demand when most of the altcoins doesn't have, But still, it is not possible that there are altcoins that are costing more than Bitcoin but the post is bitcoin is always the best in investment, investing this token that has a high price in the market could not be worth like investing in bitcoin.

[ahyadinnn]

I see the volume is just a little, I often see coins like this and the price is above the price of bitcoin, but the end does not last long, so you should be careful if you see coins like this, it's better to stay away because you will surely lose your money if you buy that coin

[kayvie]

Looking at how small the circulating supply of 42 coin make its price so expensive. It is also considered as a very rare cryptocurrency because of its price. It is rare because not anyone can afford to purchase one.

[BlackFor3st]

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.

If you will check closely the graph, the main reason why that two currencies came on top is their circulating supply is very little and these are the other techniques of other projects also to increase their price.

Other projects are keep on burning their extra tokens or even buy again then burn it in order to lessen their circulating supply. The less the supply is the higher the price especially if the demand will also increase. And check also their market capital, they are very far from bitcoin and their only advantage is the price of their currency which is very high and the rest are stumbling.

[TheClownSong]

I don't think we need to be stuck in prices because what needs to be seen is daily transaction volume or liquidity. It's useless if the price is good but there are no transactions at the exchanger and we can't sell coins or tokens easily.

[IMZ Noo Account]

I hold and trade 42-coin. It is well established. Has steady volume on Livecoin. And listings on Altmarkets and XBTS. Had the same dev, Lasergun, for years.

Please do your homework before you criticise it. Successful rare cryptos are extremely rare. Check its charts on CMC. When Bitcoin's dominance spiked last year, thousands of cryptos steadily lost value. 42 dipped, but then held steady.

Our development goal is to set 42 miners up with renewable energy sources.

[DDante]

Just because Bitcoin is the first of its kind doesn't mean it will be the most costly coin in crypto space, few rare coins have better value than Bitcoin, you can easily spot them using Coinmarketcap, it doesn't mean these coins have fake value or fake volume either, dyor

[DabsPoorVersion]

I don't think that you should call 42 coin as an unknown coin,

Maybe it is unknown to most people since only the top altcoins are the one that we most likely see every time but this 42 coin is really a rare coin and known by people who are in this community even before and we must consider its place on coinmarketcap due to its low market cap.

[justdimin]

Well, the real reason is not actually the low level of coins in their market but more probably liquidity as well. It may look 20k and it may have low supply as well and the reality is nobody is buying it for $20k neither so it is a fake currency with no real volume and no liquidity and nobody is buying it or selling it neither.

There was however one that was seriously used and had a higher price as well back in the day, no idea what happened to it but back when bitcoin was around 400 dollars or so there was a coin that was 900 dollars or so and it was "gold" in its name (forgot its name) and that actually has some volume and liquidity as well and was used by people as well, it just vanished after a while though.