Augur Price Rallies 10%, Defies Market Downturn After Binance Listing
The Augur price (REP) saw huge gains Friday after Binance listed the token for trading. In wake of the down market for cryptocurrency, Augur is the only top-100 coin or token to post a 10% gain over USD for the day.
Augur’s trade volume has ballooned roughly 1900% since May 10 (in USD). The price has also increased about 26% since the close of day May 10, from $44.28 to $55.93 as of this writing. The marketcap has increased roughly 11% to $615,232,200.
Binance announced the new listing overnight Thursday. Augur’s trading volume and price immediately ratcheted up. Binance is the world’s largest cryptocurrency exchange, with the firm reporting 7.9 million total users on March 15.
Binance is moving full steam ahead with listing ERC20 tokens like Augur. This comes at a time when its competitor Coinbase is slow to list them, despite a recent announcement to support them. The exchange offers trading for 312 cryptocurrencies, according to CoinMarketCap, but has come under more regulatory pressure recently. The exchange still enjoys a large influx of new user registrations.
Still in beta phase, Augur is a “a decentralized oracle and prediction market platform.” The token is one of the first in the field of prediction markets and influenced other projects that followed.
While Augur has received criticism in the past for security concerns and delays, the project is gaining traction with new development. A weekly development update on May 9th touts new completed development features and clearer road map.
“The team has been working on Augur App this past week, a small electron application that packages Augur Node and the Augur UI so you can use Augur locally with an Ethereum node of your choosing. It will take care of running Augur Node in the background and auto-deploy the Augur UI locally in your browser. This will allow for users to have a single-click solution for using Augur locally,” the update said.
The update goes on to highlight a tentative road map for new development.
“We have our deployment timeline (tentatively) set internally. We’re working out final tasks regarding the deployment process, REP migration, and some code complete features this week,” the update said.
This solid development progress comes on the heels of continued good news for the project, such as a grant for the bounty program.
Time will tell when the project will exit the beta phase, which it has stayed in for quite some time. However, with development efforts solidifying and new exchange listings, the outlook could be improving.
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