Ask Price

The price that a seller assigns to a commodity or asset to specify its worth to interested buyers.

An ask price refers to any price range (often a specific price) that a trader places on a product or commodity as a way of informing interested buyers of the product’s worth. This price may fluctuate depending on the number of bids available, even in the traditional financial market. Nevertheless, it is the most revealing evidence as to the worth of a commodity or asset.

In the world of cryptos, the asking price is closely related to market orders. In other words, a seller might set the asking price to correspond to the highest bid made on the crypto asset within a particular period. In the same vein, a buyer might set their trading bot to harmonize with the lowest possible asking price for a crypto asset. In both situations, asking prices have both descriptive and practical trading functions.