copy of post on old thread:
I just want to understand what drives prices at onset when coins is released on new exchange, especially in cases like this where trading is available before ICO coins were released.
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Could somebody please explain to me, or refer me to the relevant reading material, how the price of a coin/token is determined upon launch ? In the case of ETN, there were not ICO investors selling, only miners, so how did it attain the initial price ? Is it also a simple matter of supply and demand where early miners simply set a relative high price and the demand kept it multiples of ICO price up to now ?
I just want to understand what drives prices at onset when coins is released on new exchange, especially in cases like this where trading is available before ICO coins were released.
Miners have alot to do with current price.. as well the dev team.
Miners are necessary right now to secure the network and process transactions.
For majority of miners to even think about doing this the coin needs to be profitable
Miners sell, then buy back lower.. prop up market at times.. stay in profit
