Augur Price: REP Falls Amidst $152 Million Lawsuit Settlement. Friday, October 26th
Augur Price Falls Amidst $152 Million Lawsuit Settlement
Augur (REP) prices have fallen after 2 weeks of steady gains. The Prediction network’s coin is currently trading at $13.58, after a brief visit to the $15 range just two days ago. The recent fall in prices comes on the heels of news that a settlement has been reached in the lawsuit filed by former CEO, Matthew Liston. Just two weeks ago, Augur was trading at around $11.26 and had been steadily gaining until the news was released yesterday. While the current price, in the mid-$13 range is still higher than it has been in the past two weeks, the trend is now reversing and appears to have taken a downward direction. It is still too early to be certain if this downward slide will continue, and for how long.
REP/USD Price Chart, Friday October 26th:
Augur Publicity Helps Set Trading Patterns
Just 3 weeks ago, Augur was gearing up for their network upgrade and the prices reacted positively, most likely the reason for the steady gains over the past two weeks. Augur has been in the news in the past, and benefited from the media attention, however, unlike the controversial news stories in the past, which have helped to gain attention for the cryptocurrency, this latest news is one that hits the company financially. Investors lose confidence quickly when a company stands to lose $152 Million dollars.
Falling Prices Likely to Stabilize
It does not appear that this downward trend will continue for long. It would be surprising if prices did not stabilize, once again and possibly even begin to climb by the end of the weekend. This is seen by looking at the rate of decline in the past few hours. Trading has been in a more sideways pattern. Given the latest trends, there is no reason to suspect that sideways trading will continue, and this is evidence that a turn to the upwards trading we have seen is likely to return.
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