this may sound like a totally noob and stupid question but I would like to know how is the Theta token price determined?
I mean I am new to the project and crypto in general (long enough to reject any DMs though). I try to do my research about the project. However I was wondering the other day what is actually the Theta price based on. My motivation here is to get a bigger picture and be able to distinquish what news are important and what can and can not (that much) affect the price.
I understand that there is a finite supply/demand aspect. However I wonder if there is something more. For example if there is a news regarding new patent or a new partnership announced how can this affect the price? Does it somehow add to the value of the company and therefore its governance token? Or is it a trigger for more retail/investors to decide to buy Theta and therefore applying the supply/demand aspect?
I started wondering this when watching some YT videos hyping Theta with banner like “this can 100x Theta” etc. I would like to be able to critically think about the news and even content of those videos regarding the price reaction on the news.
Keeping my Edge Node Running!
Have a nice day!