What is Augur?
Augur is a search engine application that runs on Ethereum’s blockchain. It uses the wisdom of the community to create a decentralized search engine. The platform runs off of REP Tokens, which are used to make markets off of questions they might have expertise in or know the answer to.
REP tokens can be used to bet on the outcome of a situation. It allows users to purchase positive or negative shares and gain profit depending on the event’s outcome.
Let’s say that we are betting on a large sports tournament. Users can buy shares in favor of the underdog winning at a low price of 10 cents. Throughout the tournament, the underdog team makes their way to the finals and wins the competition, now users can sell the shares at 60 cents.
After the entire event, users can make a report of the outcome through Augur’s rep token. This means that the outcome of an event isn’t reported by one authority, but through a large group of users who can participate due to Augur’s platform.
- Augur’s team has only developed 11 million tokens. Large token holders and dev teams are holding onto the token for the long term.
- It offers some returns instead of just price speculation. While holding Ethereum is good for utilizing all of the projects on its platform, Augur shows some long-term growth potential.
- Any good news within the entire crypto space helps Augur. Also, since it’s used to predict events, users like to
What is Augur’s Price on the Market?
As of now, Augur is now priced $56.09 in the market. As you can see, it has a market cap of $617.02 Million. This means that it’s price has made a lot of growth since its first introduction to the exchange in $2016.
Augur’s overall market price has increased throughout the years. This can be due to the multitude of users who use its platform to make predictions, or that it’s been constantly traded between crypto enthusiasts.
Still, we can see that it goes through a large change in value after losing 10.88%. Augur is changing with the crypto market and will take some time before it shows signs of noticeable improvement.
Who is Augur For?
- Risk takers who like to bet on event outcomes.
- People who are good at making predictions.
- Anyone that’s willing to look into a high-risk, high-reward cryptocurrency that has already shown some signs of increasing value.
It doesn’t matter if you’re a beginner or a veteran when it comes to cryptocurrency. Augur can be used by anyone that’s want a decentralized platform where they can make quality predictions on events that occur in real life.
To conclude, Augur has taken a hit in price in the early February period. This is due to constant fluctuations. Also, the influence that token holders have on the coin changes each time it’s price increases or difference. Mainly, we’ll have to see how it acts in the upcoming months to get a gauge on how it will act during the long term.
Disclaimer: Our information is made for analytical and educational purposes only. Don’t take it as investment advice and speak to your advisor before investing in cryptocurrency.