I'm a newb to the crypto currency market. I hear the relation to the marketcap and worth of a coin alot. Could you explain this relation? Or point me to a resource(s) to read about that?
Correct me if i'm wrong, cause i'm a noob as well
but i believe its due to supply and demand and how easy it is to gain it.
If you compare it to precious medals with a limited supply and demand is relatively high, price will go up. For instance if you could get gold easily and everywhere in the world without a lot of effort, the price wouldn't be as high as it is now. Cuz it is easy to gain, supply is high, and demand will be lower.
So imo, xvg will be implemented to some extra exchanges now since it won some polls, people are getting more interested, it is getting more known, 'brandawareness' increases, demand will increase so price -can- go up.
But since there is still a lot of supply, it will not go sky rocket
yet.
Of course there are still other variables which affect the prices...
You are kinda right... The thing with Verge mostly is, that most of investors are not familiar with any coins, what that coin actually does and is. They buy, sell and trade based on number that are showing on coinmarketcap. People dont read and study coins. When people will actually start to study certain coins what it can do, what is the purpose and such, they will start to invest in that coin.
The biggest problem with Verge ATM in my opinion is, that is relatively unknown. We are a little week on marketing, but we are getting there. When more and more people will see Verge and actually start reading what it is and does, im sure the price will go higher...
It doesnt matter how many coins there are. In the long run more the better. In my opinion it is, at least in top 100 coin, Verge is the 2nd most undervalued coin atm. I think only MGO is more undervalued. But we will see soon enough how this will unfold
