Augur price prediction: Investors feel the heat

• Updated

The betting platform saw a successful 2021, but this year has proven difficult for REP. Has the token bottomed out?

A tablet displays the Augur logo with buy and sell buttons under it                                 
Traders can bet on a range of events with Augur, including NFL, election results, company results and more – Photo: Shutterstock
                                

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The betting industry today claims traders can get rich quick, but in reality the best betters are penalised. At least that is according to Augur, a platform hoping to transform the gaming sector and make it much fairer with blockchain technology.

Anyone is allowed to create a market and the settlement is automatic, meaning no middleman can interfere with your trades.

While Augur has made ambitious promises, investors are recently showing reluctance as new competitors have opened in jurisdictions that ban the platform. But not all forecasters think this is the end for REP. So, what is the latest Augur price prediction?

What is Augur (REP)?

Augur is saying goodbye to centralised betting and welcoming in a blockchain-based system that allows anyone to create a market and trade on it. Whether it is election results, sports or company results, Augur wants to be the go-to place for betting.

According to CoinMarketCap, Augur is the first-ever decentralised prediction market, with it launching in 2018. Augur chose to build its platform on Polygon to ensure anyone can create markets cheaply and quickly.

However, it is important to note that the betting platform cannot be used in the US or UK, along with 10 other countries. While Augur has not revealed why, this is likely down to tough betting restrictions in these jurisdictions. Meanwhile, this has paved the way for competitors such as Veil.

Jeremy Gardner, Jack Peterson and Matt Lison are the California-based co-founders of Augur. Gardner has also founded the hedge fund Ausum Ventures since then, while Lison was a strategist for the software company ConsenSys. Peterson had worked as a software developer.

How does Augur work?

There are four steps to using Augur, according to its whitepaper, Augur: A Decentralised Oracle and Prediction Market Platform. First, a market must be created that can be based on any real-world event that will have a definite result. Trading is then activated for users to bet on the end result. After the event has finished, reporters will update the final result and then the bets will be settled.

Reporters are integral to this process as they contribute the off-chain data to the platform. To do so, they place a stake on the final result and are financially incentivised to tell the truth through a reward in the native REP token. Any outliers see their stake distributed to the consensus vote.

While REP has clear utility with it powering the platform, not all investors are warming to it.

From the Augur whitepaper

The whitepaper states: “Augur is a trustless, decentralised oracle and platform for prediction markets. The outcomes of Augur’s prediction markets are chosen by users that hold Augur’s native Reputation token, who stake their tokens on the actual observed outcome and, in return, receive settlement fees from the markets. Augur’s incentive structure is designed to ensure that honest, accurate reporting of outcomes is always the most profitable option for Reputation token holders.”

The document goes on to say: “Token holders can post progressively-larger Reputation bonds to dispute proposed market outcomes. If the size of these bonds reaches a certain threshold, Reputation splits into multiple versions, one for each possible outcome of the disputed market; token holders must then exchange their Reputation tokens for one of these versions.”

REP’s past performance

REP launched in 2015, making it one of the first cryptocurrencies. It went live on CoinMarketCap during October that year and fluctuated between $1 and $18 for the next year or so, with a notable daily high on 17 March 2016 of $16.49 followed by a daily low of $6.33 on 24 April and then another high of $18.36 on 4 October.

However, the cryptocurrency saw its biggest breakout at the end of 2017, in conjunction with the wider bullish crypto market. It then climbed to its all-time high of $123.24 on 11 January 2018.

The token saw another peak later in the month on the lead up to its mainnet going live. It revealed details about this in May 2018, announcing investors would have to migrate to a new version of the token. On 11 May, REP climbed to a daily high of $82.79.

The betting token saw its value drop throughout the rest of the year, falling below $10 in December. REP did see some peaks and troughs over the next two years, but nowhere near the size compared to 2018. At the end of 2020, on 31 December, the cryptocurrency closed at $16.18.

2021 started strong for the betting platform. Augur hosted its largest ever event based on the US election, which was settled on 11 February. REP climbed back above $30 later that month and continued this trend into March and April.

A new portal to migrate REP to its second upgrade went live on 7 April 2021. Two days later, the token saw a surge to a daily high of $57.90. The price almost immediately corrected and hit a daily low of $9.47 on 22 June.

Another rally occurred in September, just before the National Football League (NFL) season started. On 3 September, six days before kick-off, the Augur NFL markets opened, and REP passed $30, reaching a daily high of $35.77 on 5 September.

Since then, the betting token has proved to be vulnerable in a bearish crypto market. It fell to the $15 mark in early January 2022 and dropped further in May and June. 

By 15 June and following multiple market crashes, the token was trading at $5.89. However, by 16 June there was some positive price movement, and the token was trading at $8.36. The token has largely traded sideways since and, at the time of writing on 21 July, it is worth $8.18.

Augur price prediction

There is a range of Augur forecasts but most expect at least a gradual rise. As of 16 June 2022, the REP price prediction from DigitalCoinPrice says it will reach $12.13 in August, and $11.85 by December this year. The site suggests an average value of $11.70 in 2023 and $12.35 in 2024. It expects this to climb to $15.54 in 2025. The betting token is then thought to hit $37.27, according to its Augur price prediction for 2030.

In a bearish projection, WalletInvestor’s Augur price prediction for 2022 says it reach $10.25 by the end of the year, but hit $4.41 in a year’s time, with no prospect of a meaningful recovery.

The Augur coin price prediction from TechNewsLeader is much more bullish. It expects the betting token to climb to $13.01 in 2023, and $18.54 in 2024. REP is then thought to reach $27.46, according to its Augur price prediction for 2025. The site also suggests the token might reach $273.88 in 2030.  

PricePrediction offers an optimistic forecast as well. REP is said to climb from an average of $8.51 in 2022 to $26.88 in 2025. Its Augur crypto price prediction for 2030 expects this value to skyrocket to $165.80, hitting $240.87 in 2031.

FAQs

How many Augur are there?

There is a circulating supply of 11 million REP.

Is Augur a good investment?

It might be. Reporters who stake REP and verify results of bets are eligible to receive rewards in the native token. But the price has recently been depreciating, so you should always research before investing.

Will Augur go up?

Most forecasters predict an increase for REP, but the extent to which it could is debated. DigitalCoinPrice does not expect it to surpass $100 in the foreseeable future, whereas PricePrediction says it could hit $240 by 2031. Predictions are often wrong as tokens are volatile, so you should never invest more in REP than you can afford to lose.

Should I invest in Augur?

It depends. Augur is allowing traders to bet on the outcome on an event that has a final result. However, betting is a risky industry and users should never gamble more than they can afford to lose.

Further reading

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