Augur (REP) to USD is a major trading pair. Not only is REP an important emerging DeFi cryptocurrency, the US dollar is the most traded fiat currency in the world. REP is the native cryptocurrency of Augur.
The REP/USD price can move up or down in a trend direction, but it can also move sideways if there is a lack of trading volume. The REP/USD exchange rate experiences occasional price swings along with breakouts or breakdowns.
The REP to USD pair may fluctuate by around 1-5% within a 24-hour period. Over a 30-day period traders can expect volatility of up to 15-20% for the REP to dollar trading pair.
What is Augur?
Developed in 2014 by The Forecast Foundation, Augur is a betting platform built on the Ethereum network. Augur software gives users incentives to maintain and enhance a prediction market and offers transparent access to its markets for users across the world. Augur allows users to forecast events and be rewarded for correct predictions.
The foundation was founded by Jack Peterson a biologist and Joey Krug, an investor in 2014. markets, unlike exchanges, allow users to bet on future events. Users can develop and exchange “shares” of an outcome and potential value changes without depending on third parties.
All purchases of shares are made with eth, the Ethereum token or alternatively with the stablecoin dai.
Facts about Augur
- There are 11 million REP coins currently in circulation
- Augur is currently valued at $279.54 million
- REP tokens have been built based on the ERC-20 standard on Ethereum
- After the ICO in 2015, Augur raised undisclosed amounts in two funding rounds in 2016 and 2017
The REP/USD price skyrocketed in December 2017 to highs of $108.47. After dipping dramatically throughout 2020, REP price rebounded to $57.56 in April 2021. It has since fallen to $25.2 as of early November 2021.
Which factors affect Augur value?
The factors affecting Augur value can be divided into two groups- Augur-specific factors and factors affecting the cryptocurrency market as a whole.
Augur-specific factors:
- Future developments, upgrades and technological improvements.
- Competition from other decentralized platforms including Predictor, Value Network and TotemFi.
- Augur-related sentiment
General factors related to the crypto world:
- Changes in regulatory laws regarding the legality and usage of cryptocurrencies
- Speculative trading
USD overview
In the REP to dollar pair, REP is the base currency, and the USD is the counter currency. This means the chart shows how much REP is worth as measured against the USD.
The US dollar is the world’s most influential currency. It makes up 59% of all central bank foreign reserves. The greenback also dominates the forex market. It is involved in 85% of all forex transactions.
The strength of the US dollar has been directly affected by the monetary policy adopted by the US Federal Reserve after the 2007 financial crash. Fears around inflation have caused concern among investors regarding future devaluation of the dollar. The hit to the US economy as a result of the pandemic has also weakened the greenback.
If you are interested in REP/USD pair trading, you should keep a close watch of crypto market news as well as updates from the Fed regarding monetary policy changes.
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