Hello,
I have a question, which I couldn't understand. What determines the price of an ALTCOIN?
for example:
ranked 4: Cardano price is 0.95 USD .... market cap: $30,158,999,828
while
ranked 5: Polkadot price is 25.14 USD .... market cap: $24,025,000,997
on the other hand,
ranked 21: Avalanche price is 46 USD .... market cap: $3,610,321,000
What did I miss here ? why for example cardano is cheaper while avalanche or balancer coin has lower market cap but they are expensive than cardano and Polkadot ?
thank you in advance.
I do not know what is so difficult in it as it very easy to understand that answer to your query is circulating supply, so the higher the supply the price will be less but market cap could be higher similarly for a small supply coin price would be high and market cap could be lower. So supply is very important factor that can define price and total market cap.