How does a quote price work?
Each time an asset is traded, its quote price gets updated. The current price of most assets will be the same as the quote price and will change throughout the day as the asset is bought and sold on exchanges or over the counter.
The quote price is determined by the interaction between buyers and sellers. The more trading activity, the more price movement there is likely to be throughout the day. If there is little trading volume, there will be little to no change in the quote price.
Both parties may change the price during the bid and offer process. As sellers sell the asset, and supply increases, the quote price will go down. As buyers purchase the asset, decreasing supply, the price will go up.
Remember that if there is constant demand and a limited supply, the asset’s price will rise. If the supply is constant but there is little demand, the asset’s price will drop.