The native token of the Augur decentralized prediction market which is based on the Ethereum blockchain protocol has risen by more than 35% in only three hours. The token is apparently continuing to increase in both price and volume – at a rapid rate.
According to some analysts, the rise of Augur’s token is because of its post-mainnet launch value. However, the surge seems drastic to many analysts, who said that a rise from 70 BTC to 1,090 BTC usually does not occur without striking events that could lead the value of the token to rise.
Other tokens followed the bullish run. Some of them were Decentraland (MANA) as well as Salt (SALT) which both recorded solid gains in the 13% region, backed by the increase in the daily trading volumes on major exchanges such as UPBit and Binance.
Still, there is one concerning thing about most of these surges.
Apparently, the volume of Bitcoin has dropped by 36% in only 7 days – dropping from $5.5 billion to $3.5 billion. A drop that is more than $2 billion in only a week may be a sign of a short-term downfall.
Ether (ETH) and Tether (USDT) also dropped by a similar margin. When it comes to the reason of the overall drop, many point to the tendency of the crypto investors to hedge the value of their portfolio to the one of the US dollar.
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