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I have been wondering why Bitcoin cash SLP token price is usually low, still can't phatom the reason,
Because when you take a look at ethereum erc20 coin for instance most of their token on erc20 coin are even higher than the coin.
I have asked some of my friends they still do not have an idea why this Bitcoin cash SLP token is low.
I mean Bitcoin cash is a subsidiary of the begiest cryptocurrentcy which is Bitcoin and one would think that all coin traded on Bitcoin cash will be high, to my greatest surprise the SLP token is low
Please guys if there is anyone who have an idea why Bitcoin cash SLP token is low should please answer me
Good question.
Firstly, SLP tokens are very new relative to ERC-20 tokens. They are barely a year old, I believe, whereas ERC-20 tokens were having a huge ICOs quite a few years back.
Secondly, ERC-20 tokens have a lot of promotional budgets due to crazy-crazy-crazy ICO amounts raised a few years back. So, they are also much more known.
Thirdly, ERC-20 tokens have much more functionality in them. They can do a lot more.
Lastly, due to huge ICOs back a few years back a lot of exchanged have ERC-20 tokens integrated, because they were really popular during bull runs, while SLP tokens were born during a bear market, where a lot of people aren't that interested in anything cryptocurrency related.
So, it's mostly a popularity issue.