Augur Has Surged By 83% Over The Past Month — Can The Bulls Push REP Towards $14

Augur Has Surged By 83% Over The Past Month — Can The Bulls Push REP Towards $14?

• Veil has been launched, bringing a new P2P prediction market built on the Augur platform.

• Veil will make trading on prediction markets faster and cheaper.

• Support moving forward: $10.32, $9.40, $8.66, $7.92, $6.86, $6.23, $5.78.

• Resistance moving forward: $10.79, $11.97, $12.58, $13.37, $13.64, $14.50, $14.63.

Latest Augur News

A new P2P prediction market and derivatives platform has been launched.  Known as Veil and built on top of Augur, 0x and Ethereum, the platform is designed to bring Augur to the mainstream.

Augur is the leading prediction market protocol that is built on Ethereum as a dapp. It allows anyone to create, trade in and report on prediction markets. However, as Ethereum is slow at this moment in time, Veil has come up with a solution to remedy this.

Veil will make trading faster and cheaper for users as it uses the 0x protocol to speed up trading and minimize the number of transactions needed to be sent. As Ethereum transactions are slow, the introduction of 0x will provide faster trades to Veil users.

Veil will also help users get paid faster through its instant settlements.

The Augur decentralized oracle is designed to finalize and settle the outcomes on the prediction markets on Augur. However, the process can sometimes take weeks to complete which means that payouts are delayed for users. The instant settlement introduced by Veil will allow users to sell their Augur shares into Veil and receive either 0x or Ethereum in return.

With the launch of Veil, users will initially be able to trade in a limited number of supported markets. One of the most anticipated is the cryptocurrency derivatives markets which will offer a leveraged version of Bitcoin, 0x and REP to trade which will be structured as 7-day scalar markets.

Users can also trade on some Ethereum hedging products, which will provide derivatives for users to trade on fundamentals such as the Ethereum GAS price and the current hashrate of the Ethereum network.

Let us continue to take a look at price action of the Augur market and provide any potential areas of support and resistance moving forward.

REP Price Analysis

Augur has seen a small price increase totaling 2.8% over the past 24 hours of trading, bringing the current trading price up to $10.89, at the time of writing. The cryptocurrency has seen a 7-day price rise totaling 7.36% and a 30-day price surge totaling 83%.

Augur is now ranked in 40th position as it currently holds a $118 million market cap value. The 39-month old project is now trading at a value that is 90% lower than the all-time high price.