I was asked: If a coin costs only a few cents, does that necessarily mean it’s cheap?
I usually answer: These contracts have a 1000 prefix because the price of a single token is so low, with so many decimal places, that quoting prices and placing orders becomes inconvenient. A contract with a 1000 prefix simply uses a different quoting unit—the percentage change and the price per token are the same, but the order quantity and price need to be converted based on 1,000 tokens.
$PEPE 0.0₅457 (+9.33%)
Have you run into any pitfalls like this? Share them so others can avoid making the same mistakes.
I usually answer: These contracts have a 1000 prefix because the price of a single token is so low, with so many decimal places, that quoting prices and placing orders becomes inconvenient. A contract with a 1000 prefix simply uses a different quoting unit—the percentage change and the price per token are the same, but the order quantity and price need to be converted based on 1,000 tokens.
$PEPE 0.0₅457 (+9.33%)
Have you run into any pitfalls like this? Share them so others can avoid making the same mistakes.