Another curious case of ~250% divergence of Gold and GBG (SBD equivalent for Golos) [charts]
Golos, a token based on Steem code, has it's own stable coin (GBG) pegged to the price of 1 gram of gold. Similarly to SBD price, GBG is trading much higher than nominal gold prices. I've collected market data and put together some charts to illustrate the trend.
GBG VWAP and gold price in USD (last 30 days)
GBG VWAP and gold price in USD (last 90 days)
GBG VWAP in BTC (last 30 days)
GBG VWAP in BTC (last 90 days)
Nominal and real GBG payouts in USD (last 30 days)
- grouped by day
- calculated using 7 day sliding window
Nominal and real GBG payouts in USD (last 90 days)
- grouped by day
- calculated using 7 day sliding window
Why?
As in the case of SBD/USD divergence, at this moment, I don't have a plausible explanation for sustainable increases of GBG price.
Unlike SBD, GBG doesn't seem to be pegged to any particular bitcoin value.
Any thoughts?
Wait.. GBG is pegged to gold, and gold is rising? So that's why GBG is rising?
See the "GBG VWAP and gold price in USD" charts, gold price for 1g is fluctuating around $0.04 and GBG price was at ~$0.14 a few days ago.
ahh ok. Could this be in preparation for a move up for Gold?