Augur price sees drop even as DeFi locks up $3.3 billion

By James Gray·23 July 2020·2 min read

Key Points

Augur's native token REP has pulled back 7% over the last day, settling near $23 after a recent surge carried it to $25.30—the highest point in the past year.
The token stands as among the day's weake

Augur's native token REP has pulled back 7% over the last day, settling near $23 after a recent surge carried it to $25.30—the highest point in the past year. The token stands as among the day's weakest performers, though momentum remains solid when viewed across broader timeframes. Week-to-date gains total 20%, with the altcoin climbing 16% since mid-July. Yet perspective matters: this recovery remains dwarfed by the collapse from the January 2018 peak of $99.80, leaving the token still 85% beneath those prior highs.

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The REP/BTC trading pair has deteriorated to 0.00246311, reflecting a 7.06% decline. Against ethereum, the situation looks grimmer, with REP/ETH dropping 12.52% to 0.08898195.

Blockroots analyst Ryan Scott observes that REP's movement beyond the $25 threshold opens the door for further appreciation. The researcher points to potential momentum for a climb toward $30 in the near term. Should the pattern hold, an additional 40%-50% leg upward becomes feasible, per Scott's analysis.

The upcoming Augur v2 rollout could accelerate these gains. The decentralized oracle protocol launches its second iteration on July 28, introducing dai-denominated prediction markets and a novel auction mechanism for price discovery. This refresh may inject fresh enthusiasm into the token.

The broader decentralized finance landscape currently houses $3.3 billion in capital. Four major platforms—Maker, Compound, Aave, and Synthetix—each control more than half a billion dollars in locked value. Interestingly, while cryptomarkets broadly push higher, several prominent DeFi tokens have retreated. Aave's LEND token matched Augur's weakness, shedding 6.4% to land at $0.304. Kyber Network gave back 1.5% to $1.66, while Synthetix edged down 1.2% to $3.52. Compound and Maker bucked the trend, registering gains of 2% and 3.6% respectively.

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