Augur (REP) token takes off as Chancer presale hits $845k

Augur (REP), the native token of the decentralized predictive market platform, Augur, has caught a majority of crypto traders by surprise with its monster Bull Run. The token has exploded to a high of $1.92 from $1.12, although it had let off some of the gains by the time of writing.

Well, while there is no major crypto news touching on Augur, the general cryptocurrency market cap has surged to $1.12 trillion as a majority of cryptocurrencies exhibit bullish momentum although a majority of crypto predictive markets tokens have remained relatively unmoved. However, there is an upcoming decentralized predictive market by the name of Chancer that aims at disrupting the entire industry.

What is Augur and why is its native token rising?

Augur is a growing prediction market protocol with $1.03 million TVL at the moment. Even though the protocol is quite old, its second version was released in 2020. It is based on a sophisticated order-book application and users are required to use DAI as their base trading currency in order to trade on Augur.

Reputation token, or REP, is the name of the platform’s token. Users stake their “reputation” on the outcome by placing bets or creating new markets where other users can place bets.

What is Chancer?

Chancer is a cutting-edge Web3 peer-to-peer (P2P) custom betting platform that is being developed to let users bet on any event while watching the events live through Google’s WebRTC.

Chancer aims to go above what the likes of Augur and Polymarkets are doing by introducing live streaming and social betting features which will make users the creators of the wager odds. In addition, Chancer also offers users the chance to wager on a variety of events besides the usual sports and casino wagers, which is an exciting feature.

It is currently conducting the presale of its native token, CHANCER, which will be the main trading tool on the platform. At press time, the team had raised over $845k in less than three weeks. The team is targeting to raise $1 million in the ongoing first stage of the presale.

Interestingly, the value of CHANCER is rising as the presale progresses and it is expected to raise from the current price of $0.01 to $0.011 in the next stage. You can buy CHANCER tokens here.

Chancer recently added Ether (ETH), and Tether (USDT) as additional buying options to allow more crypto players to take place in the presale.

Augur (REP) price prediction

Prior to the current price surge that started on Wednesday, July 19, Augur (REP) was in a sharp decline. It is actually a long way off from completely erasing the losses of the previous decline. It is still down 22% from where it was trading seven days ago, and 63% down from where it was trading at a month ago.

Nevertheless, the community is bullish with more than 85% of users feeling good about Augur (REP) today according to coingecko.

The current Augur (REP) price surge has sent REP above the exponential moving average (EMA) and on course to the first resistance level at $2.3344.

The relative strength indicator index (RSI) also points to the start of a bullish trend, seeing that the signal line has crossed the oversold level of 35 upwards. The MACD has also formed a green histogram and a cross-over has taken place pointing to a bullish trend.