-1

How do we read the the value associate with a currency pair? For example CAN/BTC:

Screenshot showing price of CAN/BTC of $927.63

In the standard currency world, isn't this supposed to be 1 CAN is equal to 927.63 BTC? Obviously this statement is not correct here.

So how do we read that and what is the exact meaning of CAN/BTC 927.63$?

  • the CAN market there is an aberration. – CQM Jan 12 '18 at 3:32
  • Given that all the other abbreviations in the pair list (PROPY, ARDR etc.) don't appear to be regular currencies (and I guess ETH would be Ethereum), could CAN be another crypto-currency and not Canadian dollars? – TripeHound Jan 12 '18 at 8:12
  • 1
    Yeah, Canadian dollars is CAD. CAN is supposedly CanYaCoin, according to CoinGecko. No, I don't know what it is either! But that doesn't explain what the price column means. Surely that should be in one of the two currencies in the pair? – daemonexmachina Jan 12 '18 at 9:12
  • CAN is CannaCoin a crypto currency. It is valued at 1 CAN = 0.3 USD.or 0.00002215 BitCoins. The exchange is slighty confusing, If you see the price can be quoted in USD or in BTC. Blue Drop down at top. So ideally this should have shown $0.3. However it is showing $927. Could be CAN coins are quote in multiples of 3000 else the BTC value will be too small? i.e. 3000 CAN= $927 or 0.06BTC – Dheer Jan 12 '18 at 10:21
1

The price value shown on coinmarketcap is always the price of the asset being priced in the base currency that is implied by the volume weighted price displayed at the top. The asset being priced in your example is bitcoin and the base currency is dollars, as you can see at the top of your screen. So all the displayed prices are the price of bitcoin in dollars.

So that particular entry is saying that the price the CAN/BTC pair is trading at on Kucoin implies that BTC is worth $927.63. This indicates that this particular market is somewhat crazy (and/or there's no way to reliably determine what CAN is worth), which is not that unusual with markets that have very low volume and very volatile assets.

Coinmarketcap weights prices by volume, so this particular data point is contributing negligibly to the displayed price of bitcoin.

  • Still don't understand how to properly calculate the value. I understand the value indicated is not the real one, but how can we get the real value? I still don't understand the details – john_v Jan 14 '18 at 21:26
  • I don't understand what you're asking. What are you trying to get the real value of? – David Schwartz Jan 14 '18 at 23:01

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .