Augur (REP) Price Prediction

The price of REP today is $1, changing within the past 24 hours for -7.77% and -45.91% over the week. REP’s price action is characterized by the Bearish sentiment.

The current volatility index for REP is measured at 10.77%. REP’s circulating supply is 11M. In the big picture, the highest price REP has reached is $124.257 and its lowest observed price was $0.2317.

What are Augur and REP?

Augur is a decentralized prediction market platform built on the Ethereum blockchain. It allows users to create and participate in prediction markets, where they can bet on the outcome of various events such as elections, sports events, or even weather conditions. Augur operates using its native token called REP, which stands for Reputation. REP is an ERC-20 token and serves two main purposes within the Augur ecosystem: When it comes to the distribution of REP tokens, they were initially sold through a crowdfunding campaign in 2015. The total supply of REP is fixed at 11 million, with no additional tokens being created. To learn more about Augur and REP, you can read our Augur guide for beginners. In this article, we will be focusing more on the Augur price forecast, assuming you have done your research.

What influences the REP price?

Demand Connected with Real-World Events

The prediction markets that users create attract more attention and liquidity if there is an important event that people are interested in. Users can still use Augur to bet on anything, from sporting events to different political events.

A big breakthrough for Augur happened around the 2020 presidential elections in the United States. The prediction markets dedicated to this event have amassed more than $3 million of open interest. Another surge of open interest was observed around the time of the FIFA World Cup 2018.

Legal Restrictions

Prediction markets fall into a category adjacent to betting and gambling, and both are tightly regulated industries. The regulatory environment surrounding prediction markets and cryptocurrencies, in general, can have an impact on the future price points of REP.

Any changes in regulations or legal restrictions imposed by governments can affect the accessibility and usage of Augur, which, in turn, can influence the demand and price of REP. Positive regulatory developments may boost confidence and increase demand, whereas negative regulatory actions could have the opposite effect.

Augur aimed to provide a decentralized platform for prediction markets, one that is also fair, democratically governed, and uncensorable. The latter property opens up the possibility of assassination markets: a controversial concept where individuals can place bets on the likelihood of a specific person’s death. Due to the moral and legal implications of assassination markets, they are generally regarded as highly controversial and unacceptable. The concept raises serious ethical concerns, as it involves incentivizing harm or violence against individuals. Governments and regulatory bodies are likely to take action to prevent the establishment or operation of such markets.

Augur addressed the possibility by making it the reporters’ problem: these users can flag markets as unethical. If enough reporters flag a market, further betting will be prevented but wrongful reports result in REP slashing.

Technical Updates

Another reason REP price action was great in 2020 is the release of Augur v2. The update has made the platform easier to use, helped optimize the fees, and made the user experience smoother. The Augur platform became more user-friendly, and the more markets and market activity there is on the platform, the higher the profit for reporters. Unfortunately, the updates from the official channels have been virtually nonexistent since at least 2021. The token holders occasionally post on Reddit, but the topics do not inspire confidence: they ask whether the project is dead or puzzle over the price action. The lack of maintenance from the Foundation or Augur DAO certainly contributed to the fact that the REP price is not recovering. Once a top-10 token, now it is not even in top-500 but it is still seeing price action.

REP Sentiment

Which way the market swings today? Overall, technical indicators show that currently, the sentiment in the REP markets is Bearish. The Fear and Greed Index for REP today is in the 23 (Extreme Fear) zone.