The ask price represents the minimum price that a seller is willing to take for an asset.
Understanding the Term
An ask price, or an offer price is the lowest price that a seller can agree to accept for a certain asset in a bid or the minimum amount that they want to receive in return for the unit they are parting with.
It’s an important element of the “bid and ask” two-way system used for price quoting, which exists in both the traditional and crypto markets.
Asks are the selling prices set in a base currency for a unit of the trading asset by those holding the asset and looking to sell.