Augur (REP) was one of the few coins in the green this week, as the market is going through another shakedown, and Bitcoin (BTC) hovers just above $8,000. REP trades at $55.35 on Upbit, with a premium against the Korean Won. On Binance, the asset is at $53.32, with an appreciation of around 23% in the past day.
!REP!
The price of REP may see upward potential in the weeks leading up to the mainnet deployment. Moving from the ERC-20 standard to a new blockchain has lifted the profile of many coins, including TRON (TRX).
https://twitter.com/AugurProject/status/996978912558170114
In the case of Augur, the project has taken a long time to arrive at a workable solution and finally release the promised product. The idea of Augur was to create a decentralized marketplace for investment advice. The Reputation, or REP tokens, would be used as a reward within the system.
Because crypto trading is so volatile, there is high demand for all services offering signals, or for the approach of copying trader strategies.
However, not even the crypto community agrees as to the direction REP may take. The price has spiked, but the token is still relatively unknown. However, the Augur project aims to take a piece of an already existing prediction market, only by using a digital asset instead of fiat. Prediction markets rely on trading the outcome of events, and have a built-in element of crowdsourcing, especially when betting on the outcome of a popular event.
https://twitter.com/ToolFreeCrypto/status/996985657460494336
In the short term, REP may see price volatility, and correct after the upward run. But the project is one of the more solid propositions, low on marketing, yet with a robust acceptance and a presence of knowledgeable crypto veterans.
The launch, coming on July 9, will put the Augur project up a notch as an independent blockchain. The only problem is REP is relatively low-profile even on Binance, and the high price will not attract the hype buyers, who prefer low-priced coins with a possibility to rise by multiples.
This article appeared first on Cryptovest
