I'm developing an altcoin that is based on social sharing. What foundational technologies are going to make it the most valuable? What makes an altcoin valuable? I'm wondering if it is just how much people hear about it? Thoughts?
Based on what I have read and know, altcoins gains value depending on the technology that backs it and the market cap set by its develops. Obviously, when it has a good technology, more people would actually be convinced to invest in it or trade using it that it would have a higher usage rate that would then transcend to it having a good value. On the other hand, if it has a large market cap, then it has a lot of potential to circulate and be used because more people can hold them as supposed to only having a few in circulation.
High price first, then, the investor will find the reason to invest in this coin through the technology, trusted company, etc. Like Ripple, when this coin is still cheap, it doesn't have much investor believe its price will be higher than $1 someday. But finally, even it doesn't stop at $1 for each, it has increased higher than 4 dollars to create all time high price.