The whole crypto market has been a little weak today, with bitcoin hovering at slightly over $9300. However, there is one crypto that is performing quite well today, and that’s Augur (REP). While this token’s price is possibly being driven by its listing on the ZebPay exchange, a look at its fundamentals paint a picture of a crypto that is on the rise. Here are some of the possible factors that will continue to push Augur coin up in 2018 and beyond.
- It is focused on the highly lucrative predictions market
The predictions market is one area that has a huge potential for growth for blockchain technology. That’s because there is a wide range of industries that prediction technologies can be applied to. For instance, the financial markets make use of the prediction markets to try and determine the directions that the markets will go. The predictions markets also help players in the finance industry determine the potential impact of certain extraneous events on asset prices. Other industries in which the prediction markets can be applied to include, sports betting and security, both of which are high value industries. Given that Augur is one of the more visible blockchain projects focused on predictions, it is likely to gain a wider adoption across these industries, which will push up its value over time.
- It has an efficient risk reduction mechanism
One of the biggest challenges to most blockchain projects is security. Augur efficiently takes care of this problem by making use of bounties that act as an incentive for hackers to help identify and report weaknesses in the system, rather than attack it. This will play a role in bringing in more users to the Augur market, based on its security stability. As these numbers grow, so will the value of Augur (REP).
- It will be added to more exchanges in the future
Today Augur shot up by over 20% after it was added to the ZebPay exchange, which is not a big exchange by global standards. Now imagine how big of an impact there would be, if Augur gets listed to bigger exchanges. Given that it is already listed on Bittrex and Poloniex, two world class exchanges, it is not hard to predict that it could be added to other even bigger exchanges such as Binance in the future. A listing of Augur on Binance could easily see its value push up by more than 100%.
- It has limited coin supply
Unlike most other cryptos in the market, whose total number of coins range in the billions, there are only 11 million Augur coins available. As the demand for Augur increases in the market based on adoption by different industries, its value will continue to grow against this limited supply of coins.
With all these factors at play, it is not hard to see why Augur (REP) could get to $100 in the near future. The fundamentals are there, and all it will take is a few triggers, especially a listing on a major exchange such as Binance or Bitfinex and volumes will shoot up exponentially.