Augur (REP) Price Analysis: Is It Going To Be An Unstable Market Situation For Augur After The Design Flaw Attack?
Augur (REP) is an open-source, decentralized, peer to peer prediction market platform. Augur is meant to harness the wisdom of the crowd through prediction markets on a protocol owned and operated by holders of the Ethereum–based reputation token. The idea of this platform is to use markets in order to predict outcomes. People trading on Augur are rewarded if they bet on the right outcomes. These outcomes are of events such as company performance, election results or even natural phenomena by purchasing shares that would either support or refute the proposed outcomes of such specified events. The Augur cryptocurrency can be mined, that is, changed to coins due to the performance of the graphics and central processing units. The network even has services that offer to engage in mining. The cost of REP tokens depends on the popularity of the system. The more in demand ‘Augur,’ the more profitable to deal with it.
According to research by cryptocurrency exchange Binance on April 1,
- Ethereum-based prediction market Augur is currently facing a design flaw attack.
- The attack has a vexed market as betting on the price of ETH at the end of March, which expired on April 1, 2019, 1:59 AM, a few hours off the actual end of March 31.
- Here, if the market is deemed as invalid, then the value of the contributors’ shares will be valued at 1/3rd of their initial value.
According to Coinmarketcap, Augur is ranked 40th with a market cap of 183,642,587 USD. The current trading price (USD) of Augur in the crypto market is 16.69 and BTC price is 0.00358190 on 2nd April at 9:19 UTC time. Augur’s Return on Investment (ROI) is 1038.53%. The 24h volume is USD 7,856,288 with a circulating supply of 11,000,000 REP.
Analysis and Interpretation:
Since the start of 2019, January 20th was the day when Augur observed the highest price (USD) 19.36. By comparing, today’s price is 13.79% lower than the pinnacle price. The least price from the starting of the year was observed on January 29th with a price (USD) 11.04. Similarly comparing the same, today’s market is 51.17% more than the least price observed. Also, after the first week of February, there has been a stable market for Augur. No drastic change has been seen in the prices of Augur after the flaw attack.
Prediction and Conclusion:
As per the latest predictions of, it can be predicted that it is profitable to invest in Augur (REP) for the long term. By long-term, it means that the Augur forecast for a period of 5+ years. The technical analysis using the algorithm says that the price of Augur (REP) will not decrease or fall or drop in the long term.
As per the report, prediction markets appear to be one of the best blockchain use cases, since they necessitate suspiciously and decentralization to work correctly. Therefore, prediction market regulation is particularly unclear, as a centralized prediction market can fall under the scrutiny of the regulators of multiple states.