The Ecological System ofDigital Asset Markets: Based on the Perspective ofAsset Trading and Valuation

With the application of big data, blockchain and other digital technologies, digital asset markets are rapidly expanding worldwide, digital products are becoming increasingly rich, and transaction subjects tend to be diversified. In the perspective of digital asset transaction and valuation, we firstly provide the classification of digital assets and the development of the digital asset markets. Then, we establish the ecosystem of the digital asset market, and summarize the specific transaction mechanism within such ecosystem. Finally, we analyze the price formation mechanism in centralized transaction scenario and distributed transaction scenario, respectively.