The majority of the digital assets in the market have commenced trading this week with downside corrections. This is happening in spite of a very rewarding weekend where most virtual currencies broke barriers by attacking higher levels. For instance, Bitcoin traded slightly above $7,700 while EOS exchanged hands marginally above $15.00. Investing in digital assets requires a lot more than just price movement. To be clear, I am referring to the short-term and long-term holder who is not interested in trading. Ethereum (ETH) and Augur (REP) offer the best buy opportunity. Besides, in this article, we will explore both assets to find out why you should be buying the coins.
Ethereum: The Smart Contract Guru
It is sometimes hard to refer to cryptocurrencies without mentioning Bitcoin. In the same way, it is almost impossible to refer to smart contracts, dApps, tokens as well as ICO’s without the mention of Ethereum (ETH). Ethereum has become a sensation in the cryptocurrency space by opening up the blockchain for anyone across the world to develop and run various codes.
A recent research has indicated that there are over 1,000 applications that have been launched on Ethereum. The majority of the tokens have also been created on Ethereum network. Many other blockchains that support smart contracts have been coming up but Ethereum still is the go-to platform for tokens and decentralized applications.
Ethereum (ETH) price was affected by the volatility in the market during the Q1 of 2018. ETH/USD plummeted to trade below $360 on April 1. The cryptocurrency, however, battled shaking off the bear pressure through the month of April. Ethereum price traded highs of $829 in the first week of May before the current bear trend took over. ETH/USD recently broke below the long-term support at $560 and tested another key support at $500. Over the weekend the buyers pushed the price above $600 but the upside was capped below $630. Ethereum has the potential to retrace towards $1,000 and beyond before then of the year. There have been bullish predictions from experts, besides it has shown that it has the ability to recover after severe downside movements in the market.
Augur (REP): The Most Undervalued Digital Asset
The platform is not your usual poker or roulette game, it, however, allows users to place bets using Ether (ETH) on various events and sports. It is also referred to as novelty betting or specialized betting. The cryptocurrency behind the platform is called Reputation Token (REP) and it has been gaining a lot of traction since its inception.
Augur (REP) has a limited supply of coins in the market compared to other digital assets some having coin supply ranging in billions. Augur coins are only 11,000,000 REP and this limited supply could in the long-term lead to the rise in the price of the crypto. At the time of writing, Augur has a total market capitalization of $411,763,000 while its trading volume is $3,954,040 USD according to CoinMarketCap.
Augur is currently traded at $37.43 while it is down 7.95% in the last 24 hours. REP/USD traded above $40.00 over the weekend, moreover, last month the crypto tested the long-term resistance level at $60 but lacked the momentum to correct higher. REP/USD recorded an all-time high of $116 in December 2017. It has also tested lows of $20.00 in April this year and managed to recoil above $50.00. Experts have predicted that the token will surge to over $100 again before the end of 2018.