The Augur (REP) project keeps showing promise, and its decentralized prediction market protocol adds users and may become one of the entry points for newcomers into the world of crypto assets.
REP prices have been picking up again, adding more than 26% overnight to reach $37.36 as of 4:30 UTC. The jump in prices comes on the back of surging volumes, with trading of REP against BTC on Binance gaining notable traction. Still, the most active trading of Augur, almost half of the total volume, happens on Upbit, against the Korean Won.
REP has just launched its betting platform, but its market price remains some 70% lower compared to the peak of more than $123 on January 11. In BTC terms, Augur’s peak was in March 2016 at nearly 0.04 Bitcoins.
!REP!
Now, the token trades at around 0.005 Bitcoins, prompting some to hope for another bull run. REP has reached as high as $50 during the bull run of altcoins in April and May, and with BTC prices showing strength, those levels are not too outlandish to be repeated.
The Augur project is constantly adding activity to its betting markets, seeing betting volumes exceed $1.1 million some 10 days after the beta launch:
https://twitter.com/PanteraCapital/status/1020338216249856000
Last week, the company announced the first $20,000 that were paid out to the first users, who used the betting platform.
The Augur app is still gaining traction - and although it has only around 100 users, it is one of the high-volume apps, with bets exceeding 6,000 ETH in a week, according to data from DappRadar.
With the growth of the app, Augur also plans to release a new version, with a few glitches repaired:
https://twitter.com/AugurProject/status/1020682385376071681
Augur is seen as one of the most promising crypto projects that are tapping into the predictions market. As the Football World Cup is now over, one of the most popular bets on the platform at the moment is whether Bitcoin will surpass $10,000 again.
The nature of the Augur app, which some see as a form of betting, might bring some troubles for the project, related to regulations related to betting laws.
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This article appeared first on Cryptovest
