[REP] Augur up by 30%... What's driving this?

[valerie_zurich]

Augur up by more than 30% in $USD value over the last 24 hours. All other crypto markets remain bearish while REP/BTC markets explode in volumes.
https://cryptocoincharts.info/coins/show/rep src


What do you think could be the driving force behind this massive price rise?

[1714621757]

1714621757

[1714621757]

1714621757

[Vispilio]

AUGUR just got a Binance listing, currently the most popular crypto exchange as you know.

It's very typical for new coins to explode in price after such a listing, and they will trade with high volatility for a while after that as well...

[Dragonrage201]

After the initial buying rush from  Binance listing, it is also common for new listed coins to give back a big percentage of these quick gains by traders taking profits. Generally, it is not a good idea to buy any coin after such a listing pump.

[bbc.reporter]

AUGUR just got a Binance listing, currently the most popular crypto exchange as you know.

It's very typical for new coins to explode in price after such a listing, and they will trade with high volatility for a while after that as well...

If that's the only reason then everyone should expect the dump to occur anytime hehe. The Augur development team has been developing their prediction market platform for years now without any public releases. But they do have a closed beta.

[Yuuto]

It seems like that the price hike was indeed caused by the fact that Augur was listed onto Binance.

Obviously we know that whenever this kind of thing happens, like a major exchange listing, prices inevitably go up in the short term. However, I think that this is pure hype right now and definitely not a good time to buy.

Augur has been around for a long time without much success. Development has been slow. It's hard to say that it's a good investment by any means, and pumps are only generated through public hype just like this time.

[vit05]

I was thinking of buying an Augur but I still do not know exactly if the token would be useful or if it's just a great idea. Many projects that are wonderful ideas are only driven by speculation since the token can easily be replaced by more robust and more liquid currencies like BTC.

[Elcapsono]

But only then the idea goes nothing further and therefore it seems to me that this token should be considered only in a year, when it will acquire a clear form and stable content.

[btcney]

Obviously it's because of the Binance listing.

If you hold some Augur, I suggest selling some off right now. There is no point in buying because it's complete and utter hype right now that is driving the prices up for REP, nothing else. Sooner or later the hype will die down, and prices will follow.

Getting listed by an exchange doesn't mean that your project is all of a sudden better. It does create short term hype like this, though.