[Vespasian]

Who buys up all the farmed coins on these new cryptocurrencies.

It is really just speculation fever?

[hn8788]

I came across a subreddit, I forget its name though, thats sole purpose was pumping up new cryptocurrencies, hoping it would catch the attention of casual crypto investors. They'd pick a day to sell off whatever cryptocurrency they had pumped up, then repeat it was some other no-name cryptocurrency.

[guimoz]

Yes. And miners tend to hold their coins so the supply remains moderately low. A bit like the OPEC.