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Etherscan API provides several useful statistics, such as the TotalSupply by ContactAddress.

If we take a random token such as Thether USD. As of writing the supply is 25,916,147,047.969263 USDT.

I am wondering what other ingredients we need to determine the price of this token, which as of writing equals to $0.9974 @ 0.000304 Eth?

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  • Tether is a stablecoin, so the supply is artificially controlled to keep the price relatively stable. Did you mean to specifically ask about a stablecoin, or are you just asking about token prices in general? Commented May 4, 2021 at 9:14

2 Answers 2

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Price is determined by market dynamics of supply and demand, not code. If people use market dynamic rules, technical analysis and domain fundamentals then there is some form of logic being applied, otherwise the behavioral decisions are completely irrational.

Example: Bitcoin is believed to be a good store of value, and as adoption of BTC is acquired the demand is driven high and hence a higher price.

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  • Here is one such market dynamic bitcoin.stackexchange.com/a/100358/112407, how the price of derivatives affect the price of the underlying commodity. Check the link in there, for even further elaboration on that topic.
    – Tjad Clark
    Commented May 4, 2021 at 9:03
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Try this https://min-api.cryptocompare.com/. It can give you the price you want for example the price of ether is returned like this https://min-api.cryptocompare.com/data/price?fsym=ETH&tsyms=EOS,USD,EUR.

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  • This is great, but I am looking for the underlying logic of how it is priced
    – WJA
    Commented May 4, 2021 at 8:47

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