Peg appearance at CoinMarketCap (peg is not lost)


#1

At CoinMarketCap, US NuBits is at $0.939 at this moment, and 0.00037601 BTC. Bitcoin is $2665.51.

0.00037601 * 2665.51 = 1.00225

Why are we then shown as significantly off the peg? We’ve usually been able to switch price feed to follow CMC, but this shows the need for our own peg tracker. CMC has previously used a specific Bitcoin price rather than their average.


#2

Here’s some raw trade data I have been collecting to try and automate the NAV charts.
The charts still need a few tweaks so for now I’ve put the data in a table.
The trades are collected each minute from the exchanges
The BTC price is fetched each minute from the same CoinMarketCap price feed that all NuBots are currently using.
For each trade the table shows the amount, rate and total. It also adjusts these figures for their USD value (1 NBT is assumed to = $1).
I’ve added some simple formatting to highlight the USD adjusted rate if it is greater than $1.10 or less than $0.9. That formatting can be changed in the future if necessary.

https://nu.crypto-daio.co.uk/charts/trade_table

The table shows that we are generally within healthy bounds for the $1 peg. I think the issue with CMC reporting is that over the last few days, the trades have bene few and far between. CMC uses the last trade price so, as the BTC price changes, it appears as though the price is out. I’ll leave this table as it is helpful to see. I’ll add links to charts as they are developed too.

(The underlying site https://nu.crypto-daio.co.uk is the updated block explorer with validation that I have been working on. The block parsing and validation works well but the front end could do with some love. The intention is to put APIs over the top which can handle transactions and price notifications to other services that can add value to Nu. There is a corresponding one for B&C here too https://bc.crypto-daio.co.uk)

Edit:
Thanks to @jooize for providing the entire trade history from Bittrex. I have also provided the entire history from Cryptopia. At the time of writing there are ~6000 trades listed in the table. I’ve only been collecting minute by minute bitcoin price for the last few days. Bitcoin Prices older than that have been retreived from CoinDesk. That price is a daily aggregate so older trades can seem to be priced away from the peg when they likely weren’t at the time they were made.


#3

Can any of the leadership fix the Bittrex link for the USNBT/BTC Pair on CMC? It leads to an error, bittrex has it listed as NBT not USNBT anymore. I strongly suggest this to be fixed as it has been like this for like a month, any potential buyers will simply think it has been delisted.


#4

Also true, the peg was not lost, the buy/sell walls were in tact, that was the only reason why I didn’t panic sell all my Nubits.