Cryptocurrencies and blockchain technology are driving the world towards a permissionless future. This is a future where the internet does not need trusted third parties to function, and traditional financial markets will be entirely decentralized. The Augur (REP) platform stands at the forefront of decentralized dApps trying to solve the oracle problem and make this trustless future a reality. 

In order for blockchain companies and products to accurately capture information they need these oracles. Oracles are trusted points of connections to the outside world that verify and filter data for users on the network, but what type of data is valuable and how does it affect the price of Augur?

If you’ve ever wondered this, then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of the intricacies of Augur’s price – and the factors that influence it.

Augur Price History

The Augur platform was founded by Jack Peterson and Joey Krug in 2014 with Augur’s ICO held from August to October 2015. This was one of the earliest blockchain ICOs and raised $5.3 million USD from 19,054 Bitcoin and 1,176,816 Ethereum. Most of the assets raised were sold shortly after the ICO.

Augur’s TGE (Token Generation Event) created 11,000,000 REP tokens with 8,800,000 tokens sold to users via the crowd sale for $0.60 USD each. 2,300,000 REP tokens were allocated to founders and advisors. Augur also had an additional seed round in June 2016 and a venture round in October 2017 for undisclosed amounts.

After it’s launch REP was rather popular and became one of the largest dApps on Ethereum. Augur’s initial hype and core user base allowed it to have stable growth and relative price stability as it grew from its ICO price of $0.60 before ranging between 2$ and 20$ until December 2017. 

During the bullrun of December 2017 to Feb 2018 Augur (REP) spiked to a local high of $106 USD before crashing to a local low of 24$. This was due to market sentiment and speculation by users on the growth of the Augur platform and other cryptocurrencies. 

The Augur platform continued to operate during the bear market of 2018 – 2020 with mild success, averaging 50~ users most days. During this period REP reached a local low of 5$ in December 2018 and continued to range between roughly 5$ and 20$ throughout 2019 and 2020. Any fluctuations upwards in price due to sentiment, project updates, or growth in users were met by eager sellers.

In February of 2021, following overall market trends, Augur’s trading volume increased dramatically leading to a breakout above $25. Sentiment among cryptocurrency traders remained strong and REP reached a local high of $57.23 USD on April 9th before falling to the mid $30’s. Users, investors, and traders will want to keep an eye on volume metrics and market depth continuing into 2021 as Augur (REP) is largely dependent on the general price action of market leaders such as Bitcoin or Ethereum and user sentiment from traders and investors. 

Analyzing Augur Price History

The price history of Augur (REP) can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves looking at the charts to make sense of previous price movements. With REP, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. One of the major fundamentals affecting price is the economics of the token itself – the fact that REP has a fixed supply is of particular importance as this makes it a scarce asset and potential hedge against fiat inflation. Things such as new governmental regulations and companies accepting REP are also considered important fundamental events that can impact price.

The overall price trend of REP tends to follow a boom-and-bust cycle, where a period of growing excitement and adoption leads to a surge in price, before doubt and disillusionment result in a crash. REP also shows additional support whenever it has a large increase in users due to its utility for a particular event. 

Factors Influencing The Price of Augur (REP)

A myriad of different factors affect the price of REP. As mentioned before, REP has a fixed total supply so it is not subject to inflation like fiat currencies. This means that it is likely to be a better long-term store of value than, say, USD. 

The price of REP also sometimes moves with or in response to changes in the wider economy, with users seeing large and volatile shifts in REP’s valuation due to market sentiment. This is evidenced by the movement seen after the bullrun of 2017 and the price action prior to 2021. Augur has also received speculative criticism that the team is lacking key features on the platform that it aims to address with v2. 

Project developments and news are further drivers of price. For Augur, project developments include market adjustments and updates to the protocol. Meanwhile, the news that affects Augur often concerns product utility, updates, and regulations  – when dApps and large merchants accept or incorporate REP it can have a positive impact on the price, while regulations that impose restrictions could have the opposite effect.

Adoption by investors is another clear contributor to Augur’s value, as the more demand there is for REP, the higher its price will rise in turn. Users need to own at REP in order to use the prediction markets, so if there are a large number of users that want to participate this will reduce the available supply and likely increase the price per token.

In 2020 and 2021 there have been many headlines about companies such as MicroStrategy, Square, and Tesla making large cryptocurrency purchases. In addition to lowering the supply available on the open market, institutional investment in Augur could inspire confidence in the cryptocurrency and encourage more retail investment –  which is still an important driver of REP’s price.

Live Augur Value and Market Cap

The live price of Augur (REP) varies from moment to moment as it’s dictated by the balance of buyers and sellers across all exchanges, which is in constant flux. 

Given REP’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Augur is equal to the price of REP multiplied by the number of REP in circulation.

Augur Price FAQ

How is the price of Augur calculated?

REP’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying Augur (REP) than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of Augur different on different cryptocurrency exchanges?

REP’s price is based purely on trading as there is no standard global REP price, so no one knows what it is “supposed” to cost. The trading volume and liquidity is different for each exchange and those differences are what affect the price.

How does staking work?

Augur’s “staking” users are known as reporters. Reporters report on a market by locking their tokens in escrow, staking the REP tokens on a possible outcome. Reporters receive a reward on their stake for verifying information honestly. 

When will the max supply be reached?

No new REP is being issued. The full circulating supply has been issued and will stay locked at 11,000,000 tokens.

What will Augur be worth in the future?

The price of Augur (REP) may be affected by a myriad of changes in the future, including new regulations, the rate of adoption by retail, sentiment of institutional investors, and the rollout of scalability solutions or other updates.

Market analysts’ future price predictions vary wildly depending on the source and the sentiment (or possibly the investment) of the author. Several models and tools are used by traders and firms to predict the price of REP and other cryptocurrencies, such as stochastic oscillators, moving averages, and more complex strategies like the Stock-to-Flow model or Golden Cross. 

Conclusion

Augur is one of the oldest alt coins with a rich history, surviving the bear market, internal conflicts such as the solidity rewrite and criticism from users and competitors. Nevertheless, Augur (REP) has remained resilient, compliant, and useful for speculative cryptocurrency users. Augur (REP) continues to offer a reliable user experience with the promise of a reviliatized platform thanks to trading, betting, and general UI updates in their upcoming v2 platform launch. 

Several factors have had an impact on Augur’s trading history, including platform errors, security vulnerabilities, adjustments to prediction markets, the world economy, and adoption by both retail and institutional investors alike. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Augur and cryptocurrencies!