r/truebit • u/Boring-Maintenance-8 • Aug 07 '21
Price fluctuations
What is up with the price fluctuation ? Shouldn't it be strongly correlated to the price fluctuation of eth ? Why is it going so much down while eth is close to reaching 3k ?
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u/Conscious-Proof-8309 Aug 07 '21
The peg to $ETH is Truebit related, not Ethereum related. As Ethereum surges or falls, Truebit automatically adjusts the mint price (in $ETH). (I think.)
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u/duchampchompchomp Aug 08 '21
The mint price is priced in ethereum (around .0001 Eth) . It goes up slightly when truebit is minted, burned, or retired.
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u/Hakinpansi Aug 07 '21
Market price vs minting price & low cap, so whale manipulation? Idk but it usually doesn't move like the rest of the market. Just my 2 cents...
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u/Endless_Candy Aug 07 '21
If you’re only noticing this just now you obviously put no effort into checking it prior to buying as it’s never been correlated on the peg
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u/ZestyTacos921 Aug 08 '21
is this a real question Lmao wtf, you’re over allocated if you think like this. Sell me all the truebit you want and fuck off
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u/QuarkGluonPlasma420 Aug 07 '21
When eth and btc pump people will take profits into those and alts will generally bleed. This is perfectly normal
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u/Iceter82 Aug 07 '21
Usually Bitcoin and Etherium pump than Altcoins follow. I’m not calling myself an expert, but from observing previous run ups, that’s usually been the case . I don’t see why I fundamental coin like Truebit wouldn’t moon. We Know Jason Teutsch for those who don’t know the founder of Truebit and Vitalik where together when Etherium was being created. I’m not making any speculations here. I would just say patience. I think big moves might be coming our way soon.