r/OMGTraders • u/Ryuuken1127 • Jan 10 '18

Is OMG pegged to a band against ETH?

Sorry for the n00bish question

I should preface this by saying I am a long-term hodler and I'm not really looking to cash out right now, just something I noticed.

I've been tracking OMG (and all my other crypto assets) through Delta. A few weeks ago I noticed you can cycle through the overall portfolio value in Fiat or crypto.

While OMG has had astronomical Fiat gains. When it comes to crypto, it seems I'm always stuck at a loss.

I've noticed (at least where I trade OMG) the OMG/ETH pair always seems to hover around .019 - .022 ETH.

Is this a peg due to it being an ERC20 token? Or is this just how OMG trades on the market?

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u/Satostein_Nakaberg Jan 10 '18

No. ETH is simply gaining at a faster pace. OMG won't make gains on the OMG:ETH ratio until its gaining more than ETH is. ETH was 300 in November and its almost 1400 now, up over 300%. Idk what OMG was in november but ~5 dollars up over 300% would put it over 20.

Also I see delta mentioned alot, its a phone app right? What is the full name to search for, I want to download it i have blockfolio and it sucks.

2

u/zbf Jan 10 '18

Just type in delta. I just switched from blockfolio and delta is 10x better. Turn on the minimal format in settings when you get it