It's not because of the USD price. Sats trade in hundreds of currency pairs and Thousands crypto pairs and real world goods. There was a time where two pizzas = 10,000 BTC and there was no fiat price.
All prices everywhere are determined by supply and demand, fiat has nothing to do with it. If they printed trillions more USD, the Monero/sats pair probably wouldn't move that much even tho the USD/sats pair would move a lot
I suppose this would be why we see arbitrage between exchange pair prices - different supplies & demands on the various platforms?
I definitely have to learn more about this all lol
Consider this hypothetical scenario, let’s say all other currencies, except for bitcoin and monero, disappear overnight. We only have bitcoin and monero left. Do you think more people will want to start using monero instead of bitcoin and thus start paying more and more bitcoin in exchange for monero?
Personally, I don’t think so. Imo monero’s use case is much more niche than bitcoin. If bitcoin is the internet of money, then monero is like TOR (much lower adoption)
