Augur Prices Analysis: REP +7%, But Still Struggles With User Base. Wednesday, October 24th
Augur Prices Analysis, Project Continues Its Struggle With User Base
In recent months, Augur has come under criticism over its dropping user base. Needless to say, its dramatic drop in users has had an effect on its token, REP. Even now when the platform has proven itself to be more than a betting site, skeptics of the project continue to dub it a ‘glorified betting platform’. This is one of the reasons that the platform has not enjoyed the impressive user base it once did.
Augur Price Analysis; Good Or Bad Time Ahead?
Early in the year, Augur (REP) was at the height of its performance, trading at well over $100. At the time, the platform was reportedly averaging around 300 users a day- a number which is far impressive for decentralized application standards. Now, the numbers are reportedly below 100- speculated at 64, with no sign of improvement in sight.
According to Edan Yago, founder, and CEO of the bitcoin-focused software company Epiphyte, if the number of daily users is 64 and the platform is valued at $308- which it is, this translates to $4.8 million per user.
Speaking to Coindesk, Joey Krug, the project's co-founder, he is concerned about user numbers "as long as markets are getting resolved correctly."
At the time of writing this, REP has soared by 7% in the last 24 hours, trading at $14.20.
REP/USD Price Chart, Wednesday October 24th:
Although the surge is impressive, the question on the project’s user base cannot be evaded. Fortunately, the project is already working on this.
Augur is expected to soon launch version two of Augur. The new upgrade is expected to resolve issues with their latest update from July and to make major improvements to the platform. According to the foundation's operations lead Tom Kysar, the new update will be a better, faster, and cheaper Augur.
Looking through the past, it is clear that users like the platform, why the number has dropped in recent months remains a mystery but maybe the new update will rekindle the excitement. This means we could see Augur’s REP improve in the weeks to come.
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