I was asked: If a coin costs only a few cents, does that necessarily mean it’s cheap?
My answer: These contracts have a 1000 prefix because the price of a single token is so low and has so many decimal places that quoting and placing orders is inconvenient. A contract with a 1000 prefix simply uses a different quoting unit; the percentage change and per-token price are the same, but the order quantity and price are based on 1,000 tokens.
$PEPE 0.0₅401 (-0.74%)
Had you heard about this before?
#PEPE
For reference only. Trade at your own risk.
My answer: These contracts have a 1000 prefix because the price of a single token is so low and has so many decimal places that quoting and placing orders is inconvenient. A contract with a 1000 prefix simply uses a different quoting unit; the percentage change and per-token price are the same, but the order quantity and price are based on 1,000 tokens.
$PEPE 0.0₅401 (-0.74%)
Had you heard about this before?
#PEPE
For reference only. Trade at your own risk.