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Crypto Exchange - Ask/Bid prices

Economics Asked by nz_21 on January 9, 2021

I’m looking at a graph here for a digit asset (ethereum)

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How is the price of this asset actually determined? I see that there’s an ask/bid price, but I don’t really get it:

Who exactly is asking/bidding for those prices, and how is an equilibrium final price reached based on these values?

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