Last week ChangeHero team told our readers about one of the most popular prediction market platforms in blockchain space — Augur. It owes great performance in 2020 to the President elections in the United States, but once the Election day is over, what future awaits Augur? Will it take off due to the exposure gained this year or fade into obscurity? We collected opinions and Augur price predictions by blockchain experts and provided information on how to buy Augur tokens. Enjoy!
What is Augur and REP?
Augur is a protocol for creating decentralized prediction markets on Ethereum blockchain. On these decentralized prediction markets users can bet against outcomes of predetermined events by buying shares that represent their votes. Once an event occurs and the result is known, if a user bet against the winning outcome, they receive a payout proportional to the shares they hold. To incentivize the work of oracles that tell the smart contract the outcome of an event, the protocol uses REP tokens. Market creators choose a reporter based on their REP stake, and they split the trading fees that were collected while the market was open. REP tokens also have a part in the Augur protocol governance.
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 REP token and Augur price predictions. You will also find tips on how to buy Augur tokens further down in the article, so read it until the end.
REP Price History
REP Price in 2015–2018
The Forecast Foundation, the entity that oversaw the launch of Augur, held an ICO to raise funds in 2015. In it, REP tokens were distributed at the price of approximately $0.6 at the time. After that, it took until 2018 to actually distribute the tokens and launch the protocol, so in 2016 and 2017, the value of tokens was based on the development progress and speculation. When REP entered the market properly, they quickly rose to $2 and even pumped to $12.90 in March, 2016. Then the price entered a downtrend and REP finished the year at about $4. The following year, the whole market was surging, and so was REP price. Though the later half of 2017 has barely pushed the price of REP tokens to new heights, it did pump to almost $100 at the very start of 2018. After that, it repeated the price movements of Bitcoin, reducing to $7–9 by the end of 2018 in the bear market.
REP Price in 2019–2020
During the first half of 2019, REP was going on a mini bull-run and grew up to $20. However, this cycle was replaced by a bear market that lasted for the latter half of the year. At the finish line of 2019 REP arrived being worth $9 approximately. In January 2020, when the migration to v2 was announced, the price quickly rose to $17 and stayed above $10 until March. It dropped only slightly during the March crash to $7, and from there on until August, the price was climbing and multiplied by almost four times. The rise in popularity is very likely to do with the fact that the markets that bet on the outcome of the US Presidential elections are extremely popular this year.
At the moment the price of a REP token is $12.60, the asset is ranked 71st by the market capitalization.
What influences the REP price?
Demand Connected with Outside Events
The prediction markets that users create attract more attention and liquidity if there is an important event that people will be interested in. Users can still use Augur to bet on anything, from sporting events to different political events. With the new UIs that are in the way, Augur will be easier to use and might attract more users. And the more users and markets Augur has, the more profitable it is to participate in market creation and outcome verification, which requires REP.
US Presidential Elections 2020
This year, such an event is the presidential elections in the United States. The prediction markets dedicated to this event have amassed more than $3 million of open interest. The markets are due to expire in December to January, when the inauguration occurs. This gives the betters and reporters enough time to see the events unfold, because the election process in America does not end on the election day: the votes must be tallied across the country and there are numerous procedures for the event of a tie or disputes.
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 optimise 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. Since reporters have to stake REP to work efficiently, the user base can be an important driving force for appreciation of REP, given that to this day its supply is limited to 11 million tokens. To make things even more intriguing for the future investors, further updates like betting UI are already on the way.
Twitter on REP Price Prediction
2/2 Shitty thing is that last months candles for many coins look terrible. Set ups are non existent for most coins on the monthly. A pause and hold for this entire month would generate some nice setups. The one coin that already has the look is $REP. Need more of these. pic.twitter.com/jWTi8q9Q2M
— Drewski (@drew_coin) November 1, 2020
Trader Drewski puts REP as an example of a coin all set for some alt season action. Admittedly, the last couple of weeks were great for Bitcoin but not so much for altcoins. A monthly candle promises a pause before the action, though, so it is not clear whether alts will move by the end of the year.
— MEET.ONE (@MeetDotOne) November 3, 2020
MEET.ONE wallet managed to integrate Augur just in time for Election day. Integrations like this help achieve the adoption that is so necessary for REP appreciation.
https://t.co/HeSxShtlgs‘s market on whether Trump will win didn’t quite make it 1m USD volume yesterday, but it looks like it will make it today.
Do you believe the polls? Or are they rigged?
Put your money where your mouth is! https://t.co/vomk3un7Zi
— Evan Van Ness (@evan_van_ness) November 2, 2020
Evan Van Ness, as many other betters, was following the growth of open interest on one of the largest markets open on Augur right now. It managed to surpass $1 million right on the day before elections. Like he said, people are not only voting for their candidate, but also proving their actions with their coins.
REP Price Prediction for 2020
WalletInvestor: close at $24
WalletInvestor algorithms and experts evaluate REP very positively. By the end of 2020, the token, according to their calculations, will on average be trading for twice as much as it is being traded now. The maximum possible price is estimated to be $37.239 and the minimum — $13.822, which makes the average $24.616.
CryptoRating: bearish short-term price action
In an article by Crypto Rating team, they use technical analysis to try and forecast the trends that will move the REP price. They gave an Augur price prediction that the action in the next four to six weeks will revolve around $14.5 for some time, but will ultimately head southward to the support at $10 – $10.1.
CoinPredictor: close at $19.77
Another positive Augur price prediction comes from the algorithm of Coinpredictor. They calculate that 2020 will close with REP worth $19.77, +47.1% up from now. Not quite the August yearly high of $22, but close enough!
REP Price Prediction for 2021–2024
Gov.capital: $41 maximum, $12 minimum in 2021
The Gov.capital portal predicts that in 2021, Augur will peak in 2021. In fact, the rally that will take REP price to that year’s highest mark, $41.907, has already begun. After that, in the next few months, the asset will be depreciating. The minimal price will be seen closer to the end of 2021, in October. After sinking to $12.827, the price will bounce back again.
TradingBeasts: $11–$20 range in 2022, $14–24 range in 2023
TradingBeasts service, despite naming REP an unreliable investment in the short term, gives a moderately bullish Augur price prediction. On average, the price range in which REP will be trading is expected to go higher on the charts.
In 2022, the REP price is forecast to grow from $11.851 minimum and $13.943 maximum up to $14.102 minimum and $16.591 maximum price. The similar trend is projected onto the 2023 stats, when the average January price of $16.855 is forecast to become $19.707 in November.
CoinArbitrageBot: growth to $252 in 2024
The algorithm used at the CoinArbitrageBot website is extremely bullish on REP. It predicts that the Augur token can appreciate up to the following numbers:
- $48.8078 in 2021;
- $96.5415 in 2022;
- $156.204 in 2023;
- $252.738 in 2024.
REP Price Prediction for 2025
WalletInvestor: range of $15 to $80
In WalletInvestor’s Augur price prediction for 2025, the average REP price is going to dip to $15.098 in March and then return to the $20+ range. Maximum prices for REP in the year 2025 are expected to occur in the $70–80 range.
Though Gov.capital algorithm generates the projections in a way that is similar to the previous one, their forecast is different. At the moment, the Augur price prediction they give for 2025 promises triple-digit prices in five years. The maximum price will be about $126.579, but the minimum won’t go lower than $103, which is still almost a tenfold increase from now.
DigitalCoinPrice: high $54.03, low $12.99
The DigitalCoinPrice website predicts that in 2025 REP will be very volatile. It can pump not once but twice that year, more than doubling in value in May and September, 2025. The rest of the year will see REP trading for $13–22, but in these two months the average price will jump to $52.38 and $54.03 respectively.
REP Price Prediction for 2030
Augur has been around for five years already, so we can already get some idea how the price of REP will move five years in the future. However, even short-term predictions are unreliable, even more so predictions for the future years. The figures that anyone can give you for Augur price prediction in 2030 are as accurate as pure speculation.
That being said, the Cryptocurrency Price Prediction website takes this challenge. They predict that in ten years from now, Augur’s token will grow in price and be worth $111–193 throughout the year.
ChangeHero’s Augur Price Prediction
There is no doubt that once the results of the elections are known, Augur’s prediction markets will see a bit less action. Of course, there are going to be more events that people will be betting on in the foreseeable future, so the demand will not go to zero. Especially, considering the upcoming updates to the Augur marketplace, the project has the potential to grow, and so will the REP token.
The summary for REP price predictions from various sources is as follows:
How to buy Augur tokens with ChangeHero?
Want to take part in Augur markets and need a reminder on how to buy Augur tokens? Getting it is a piece of cake with ChangeHero. You can do it in a few easy steps:
- Choose the currencies on the home page, amounts and the type of exchange (Floating of Fixed). Provide your REP wallet address in the next step and check the amounts;
- Send in a single transaction the sum of cryptocurrency you will be exchanging. For Fixed Rate transactions you have 15 minutes before it expires;
- From here on, you won’t need to do anything. At this step we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
- As soon as the exchange has been processed, your REP is on the way to your wallet. And so, the transaction is finished!
Augur is a platform with a solid use case, so no wonder many Augur price predictions are so bullish. After these elections, it will have more exposure than before, and with enough users it will compete with traditional bookmakers just fine. For sure, there will be many news stories connected with it in the coming years, and we’ll make sure to cover them for you. To not miss these updates, feel free to subscribe to ChangeHero social media pages on Twitter, Facebook, Reddit and in Telegram.
This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.