right, well, think of it this way. Trading process is the process of price discovery. Most recent traded price is the current price for the asset, assuming it

right, well, think of it this way. Trading process is the process of price discovery. Most recent traded price is the current price for the asset, assuming it's trading frequently. An infrequently traded asset creates more uncertainty about what is its actual current market price. And volatility is a function of uncertainty.