MultiversX Tracker is Live!

Where does the money go

All Cryptocurrencies

by COINS NEWS 28 Views

I am trying to understand something.

Let's say you purchased a token [MemeCoin] for $10 - for a while everything was going well.

One day you wake up and the community is torn to pieces, you have $0.01 and the creators are nowhere to be seen.

Clearly a scam or something suspicious about that.

Now if you were to look at the token on Coinmarket Cap or similar you would see that there is still a couple million dollars of value sitting in this token but the holders will never sell because $0.01 is worthless to me and not worth the effort and gas gees.

So my question is - let's say there is about 5 million dollars in this token, does it just dissappear from existence, sitting in a void?

I understand that the price will reduce as people sell and that not everyone can break-even, I know there will be winners and losers but if the token is dead, no trading is happening there is surely a ton of money lying around that will never go anywhere.

Update: Thank you for all the replies, I was a little confused but it make sense now. The market just facilitates transactions and is not a store of value but rather the perception of value.

Second Update: This community is great ????

submitted by /u/Killaa135
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑🟑🟑 Huobi🟑 Kucoin.