Asset pricing encompasses several theories and models used to estimate the value of securities and financial instruments. The underlying principles focus on risk and return, examining how an asset's expected future cash flows, market conditions, and inherent risks affect its current price. Various models like the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) are commonly used in traditional finance, while newer models are emerging in the crypto space, accounting for volatility and market structure specific to cryptocurrencies.