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.
Tokenomics of a coin determine the price of the coin which os often directly proportional with the market cap and inversely proportional with the supply of the coin. So in my eyes the price of the coin is not that much important but yes psychologically it does have an impact on ones investment.