Augur (REP): Binance Listing Has Limited Effect
Cryptovest
Published May 14, 2018 01:35AM ET
Updated May 14, 2018 02:30AM ET
Augur (REP): Binance Listing Has Limited Effect
Augur (REP) was the next coin to see a boom of volumes and a strong price increase in a day, after the Binance listing was announced. Augur is one of the older ICO projects, which is slowly establishing its reputation.
After an initial boom to near-record volumes, things returned to normal on the following day. REP trades at $50.53, up around 20% in the past seven days, with negligible daily growth in the past hours.
!REP!
The intention of the Augur project is to create a platform for market predictions by harnessing the power of decentralization. So far, the Augur project remains a niche asset, and although promising, has lagged in attention.
https://twitter.com/TusharJain_/status/995085805638111232
But others seem to be of the opinion that the future is ahead for Augur. The trouble is, Binance is seeing a hunger for low-priced coins and tokens with the potential to grow 10-fold. REP has commanded a higher price, and although it has seen significant appreciation, at this point, REP speculation is still tentative.
The biggest market for REP is against the Korean Won, followed by trading against Bitcoin. REP has negligible USD volumes, and no Tether (USDT) influence. This positions REP as an asset dependent on Korean speculation.
One of the reasons for the lack of hype for Augur is the talk of legal problems. The platform may be seen as a form of gambling. The Augur ecosystem relies on crowdsourced predictions, tied up to the usage of the Reputation - REP - token. However, the exact status of the network is raising some doubts on social media.
Additionally, the Augur project has rolled on for years, with only internal work done by the developers. There are no official dates for an official launch, or any other milestones. This positions REP as simply another Ethereum-based asset with a highly speculative profile.
For the future, REP supporters have seen the asset adopted on BitHumb or OKEx for higher volumes.
This article appeared first on Cryptovest
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Written By: Cryptovest
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