Hey guys,

Question I have is: once an ICO is over and later an ALT coin/token gets listed on exchange, how is the price of the ALT determined?

Is there for example a formula that is used by exchanges based on ICO sale price or is it just pure supply/demand? So in the case of the latter, does the exchange simply list the coin and let the buy/sell orders drive the price?

Also to add to this question, if an ICO decided to give away ALL it's coins/tokens as an airdrop, can it still be listed on exchange? Or that would not be possible?

Look forward to feedback on this.