It would appear this week is shaping up rather nicely for Augur price speculators. More specifically, there has been a pretty interesting gain for this token over the past few hours, although nothing major has materialized just yet. If this trend keeps up, the value per REP should surpass $15 in rather quick succession.
Augur Price Turns Bullish Again
There aren’t too many cryptocurrency markets worth keeping an eye on at this time. This is primarily because no currencies have noted any real gains over the past few days. As long as Bitcoin continues to struggle, it is evident there will not be any real noteworthy gains for altcoins either.
In the case of Augur, however, it would appear things are turning around ever so slightly. A strong gain on this early Monday morning shows this currency is getting a lot of attention right now. A 5% uptrend in USD, BTC, and ETH departments shows Augur is being traded, even though its actual trading volume is not necessarily reflecting that interest. With just $2.4m in trades, Augur is far from a liquid market right now.
According to Gordon Gekko, it would appear the usage of Augur continues to increase week over week. The primary reasons why dApps are struggling right now is because people lose interest shortly after the initial launch. A prediction market needs to remain relevant at all times, and it seems Augur might finally be hitting its stride in this regard.
— Gordon Gekko (@Geckochain) October 29, 2018
A similar sentiment is echoed by Victor Li. He has also noted how there is a hefty increase in the amount of ETH staked on the Augur prediction markets. Although a volume of $1.6m might not seem that impressive, it is a vast increase. Augur is not exactly the most user-friendly dApp by any means either, yet it seems to be getting more attention as of late regardless.
The number of ethers being staked on #Augur predict markets has surged to 8,000 (worth $1.6M) in recent weeks, despite its clumsy UI. A solid use case of #Ethereum network and its token. We need more Dapps like #Augur. https://t.co/AGWHoFAKcF
— Victor Li (@SeeDecentral) October 29, 2018
Speculators and traders are also keeping a close eye on Augur at this time. Fximperija sees a bullish trend forming for REP right now, although it remains to be seen if the $18 level can be reached in the coming hours and days. There is a very good chance such a value will be reached, although holding on to these gains will be quite challenging.
— fximperija® (@fximperija) October 28, 2018
Based on the current indicators, REP will need to hit $15 first and foremost over the coming hours. Any small gain will be taken advantage of by speculators and traders in quick succession, which might make the Augur price trend unsustainable fairly quickly. For now, things still look pretty promising, although the momentum can easily turn around in quick succession.