How much is 1 lot in crypto?

I'm curious, can you help me understand what exactly is meant by "1 lot" in the context of cryptocurrency trading? I've seen this term used, but I'm not entirely clear on how it relates to the trading process or how the value of 1 lot is determined. Can you elaborate on the concept and give me an example of how it might be used in a trade? Additionally, are there any important factors to consider when deciding on the size of a lot for a particular trade?