It is uncanny how different cryptocurrency markets can evolve throughout the weekend. In the top 10, there is very little positive momentum to take note of right now. Further down below the rankings, however, interesting things are taking place. The Augur price is in a different dimension right now following major gains across the board. This trend coincides with the number of users and transactions increasing steadily recently.
Augur Price Surge is Spectacular
It doesn’t happen all that often a working cryptocurrency project goes through a major bull trend. Over the past two years, the majority of price surges revolve around hype and excitement first and foremost. Today, it seems as if Augur is doing things a bit differently, which is a good sign. Its value has risen spectacularly in USD, BTC, and ETH value alike. Moreover, it appears the project is getting a lot of recognition in terms of active users and transactions.
Over the past 24 hours, the Augur price has risen by 32% in USD and BTC value. There is also a 34% increase in ETH value, which is even more interesting. Because of these fresh gains, one REP token is now valued at $18.64. Such a high value was last reached in September of 2018. That in itself shows the bearish market shouldn’t affect all cryptocurrencies, assets, and tokens alike. Working ecosystems with potential real-world value will always succeed regardless of the overall market trend.
The main reason why Augur is so “hot” right now is due to its platform’s growth. Prediction markets are slowly becoming more commonplace, which will be a very interesting market segment to keep an eye on. Recent charts also indicate Augur has seen more active users per day as of late. In tandem, the number of transactions on the platform also tends to increase. A first sign of potential future success, by the looks of it.
— defroi (@defroi555) January 18, 2019
When looking at the price chart from a different angle, it seems this uptrend is quite bullish and steep. That also raises some questions as to how long it can last under these market conditions. A complete retrace of all losses sustained since October 2018 materialized in under a day. That is, while very spectacular, usually a recipe for price disaster when the momentum runs out. Even so, there is a fair bit of trading volume to sustain this trend, for the time being.
— Óscar @ospega (@oskarpedrero) January 19, 2019
As more people start to focus on REP in terms of scoring any real profit, a more technical analysis-based approach might be warranted. Crypto Eye indicates the bullish momentum shouldn’t run out anytime soon, although cryptocurrency markets often evolve in many different directions. As far as Augur is concerned, anything is possible right now. One has to keep in mind a lot of traders will be taking profits along the way, though, as these profits are too good to pass up on.
– Bounced off 0.618
– Likely to Complete 5th Wave
– SQZ Indicating Bullish Momentum pic.twitter.com/ZgJeLfjFG1
— Crypto Eye (@the_cryptoeye) January 18, 2019
Although the weekend is never indicative of how individual markets will evolve in the coming weeks, this current Augur uptrend is quite impressive in many different ways. Sustaining the growth will always be a big problem first and foremost, although that is only to be expected. For now, chasing the top might not be the best idea whatsoever, although one couldn’t fault excited traders for trying to pocket some quick profits in the process.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.