Augur (REP), one of the tokens which Dan Morehead, CEO of crypto hedge Pantera Capital Management is very bullish on, surges after getting listed on the Binance, one of the world’s largest crypto exchanges.
Augur is a trustless decentralized peer-to-peer prediction market platform built on the Ethereum blockchain. These are Augur’s key benefits: “Users can use Augur to create any prediction market… When it’s time to get paid out, users will endure a lower cost for settling their position compared to Betfair or PredictIt… REP token holders are financially incentivized to ensure Augur markets resolve in alignment with reality… Trustless, automated and transparent payouts are now possible. When your position settles, the Augur contracts pay you immediately… There are no limitations or restrictions on Augur. Anyone, anywhere in the world can freely participate in Augur markets.”
On 25 April 2018, Dan Morehead, founder and CEO of crypto hedge fund Panteral Capital Management, in an interview with Bloomberg, gave Augur (REP) as one of his favorite tokens and explained why: “The more interesting tokens right now are Maker (MKR)… and Augur (REP)… [Augur] is going to be the first major project to go live on Ethereum… It’s going to absolutely prove out whether all of this that we have been talking about for five years is working.”
Around 08:00 GMT+01:00 today, Binance, one of the top three crypto exchanges in the world, announced on Twitter that it had listed REP:
— Binance (@binance) May 11, 2018
Binance announced on their official blog that the following trading pairs were now available: REP/BNB, REP/BTC and REP/ETH.
According to data from CryptoCompare, immediately after the listing, the price of REP tokens surged dramatically. REP’s price went up from 66% $47.24 to $78.52 between (London time) 7:40am and 8:40am. As of press time, the price is up around 20%.