ETH price seems high

Nomics is currently reporting $303 for ETH. This seems quite high, considering that it trades for $246 on Gemini.

I understand that Nomics uses data from many exchanges to get its value. I assume it’s a weighted average based on volume… but especially if non USD markets are used to get to this price, small variance in prices on specific exchanges can cause a pretty large difference.

The difference between what most popular exchanges sell ETH for today and what nomics reports seems so high, I feel like might need to start gathering price information differently, because it’s throwing my statistics off.

This is not really a complaint. It’s mostly an observation. I’m curious if anyone has any thoughts about this

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Apologies. We’re currently experiencing issues around aggregate data and prices. We’re presently working on a fix. https://twitter.com/ClayCollins/status/1138630889972387840

We’ll update you when things have returned to normal.

Earlier today we experienced an issue with http://Nomics.com that affected prices and aggregate indicators. A fix has been deployed and appears to have addressed the issue.

Hi!

Thanks for the quick reply. Do you have more information about this issue? We were thinking of potentially using Nomics price data to automate certain types of trades but maybe this is not a great idea. This is not meant as criticism, but I guess I’m just trying to get a general feeling of your confidence

Hi @evertp … this is the first time we’ve ever experienced this issue. We’re very sorry for the issues you experienced. We don’t expect to see this issue happen again.

Here’s what happened: on the day this occurred, we added 70 exchanges in one fell swoop. This was a mistake and it taxed our systems in ways we hadn’t expected. Going forward we’re going to be releasing exchanges at a much more reasonable pace and/or taking measure to ensure that bulk deployments like this don’t create the issues you experienced.

For the most part, this issue did not affect customers of our paid plans who are either (1) on separate systems/infrastructure, or (2) are getting pricing data according to customer and specific pricing and calculation methodologies.

Note: we don’t allow our free API to be used by businesses.