- Coinbase lists Augur (REP) on Coinbase.com
- High demand for more digital currencies leads to REP’s listing
- Augur’s price and market capitalization surge after listing
Coinbase, a U.S. based cryptocurrency exchange on April 17, 2019, announced that users of Coinbase.com can now buy, sell, convert, send, receive and even store Augur Reputation token (REP). REP’s addition is in a bid to meet the demands of its customers to trade more cryptocurrencies.
Augur (REP) Can be Accessed on Coinbase.com and Coinbase Mobile Applications
Based on a Coinbase blog post, users of Coinbase.com, as well as the exchange’s mobile application for Android and iOS smartphones, can buy, sell, convert, send, receive and store Augur starting from April 17.
While customers in most jurisdictions will be able to trade the token, people in New York will be unable to, at the moment.
The U.S. based exchange further outlined that it found the need to list Augur after receiving numerous requests from its customers to list more cryptocurrencies which will enable them to trade these assets.
That being the case, Coinbase expects that it will list more cryptocurrencies on its platform after its announcement regarding a listing process in September 2018.
At that time, the exchange had noted an increase in the number of digital assets that had been released to the market ranging from tokens, stablecoins, forks, and collectibles.
The listing of these assets became one of the major requests from its customers even though the issue was determining how to add assets that meet with its standards in a safe and compliant way.
REP is Based on the Ethereum Blockchain
REP, on the other hand, is reportedly backed by the Ethereum blockchain and it is awarded to people on online prediction markets for correctly predicting the outcome of an event.
Upon its launch on one of the most popular cryptocurrency exchange, it saw a significant increment in price from around $18 on April 16 to $21.35 which it is currently trading at.
The 34th largest cryptocurrency by market cap also recorded an increase in its market value from $210 million to $234 million as at press time.
Augur’s most recent performance can be likened to that of January where its price surged by 50 percent within 18 hours after the launch of Veil, a peer-to-peer prediction platform for markets and derivatives which was created to promote the virtual asset.
On March 22, Blockchain Reporter informed of a Redditor’s claim that there is a vulnerability in the Augur system which could potentially be exploited to create inconsistencies in the market in order to make gains from it.