The price of cryptocurrencies is affected with every transaction completed and is in fact determined by its demand. Large demand from buyers will push the value of a digital coin upwards. In the opposite way, if a coin has a high supply with little demand, then its value will drop. As such, the price of cryptocurrency can change many times a minute and also drastically if there is overweighting demand or supply. There are always two prices applicable, the ‘bid’, i.e. the price that the best buyer is willing to offer, and the ‘ask’, the price that the best seller wants to receive for selling their cryptocurrency.
Other factors that influence the price of a crypto coin include the level of utility — i.e., how useful the coin/token is. Another example is the process by which new coins are released, for example through mining. If there is a fixed supply already in circulation or the new supply is limited, it can cause upward pressure on the price when demand is high.
The ultimate price at the time of placing the order may be determined by a combination of factors, such as the liquidity and volatility of the market and the size of the order.