Home / Crypto News / Cryptocurrency Augur reaches $ 1.5 million in transaction volume in the first week

Cryptocurrency Augur reaches $ 1.5 million in transaction volume in the first week

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Augur is a decentralized market forecasting platform. Since the commissioning last week, a significant amount of money is already flowing through the platform.

According to data available on DappRadar, more than 3,500 Ethereum Coins (ETH) have been traded on the platform in recent days. These coins have a combined value of approximately $ 1.65 million. Of the 3,500 coins alone, 1,177 accounted for the last 24 hours before the editorial deadline.

Augur is a forecasting platform

As one of the first Ethereum dApps ever, Augur allows its users to make market predictions for almost every event in the real world. At the same time, users can bet on the event. To do this, they use Ethereum to buy “shares” at the outcome of the event.

Shortly after the start, the interest was so great that the dApp briefly advanced to No. 5 in the Ethereum dApps. There has also been an increase in the amount of money users wager on an event. Data from the Preditictions.Global website shows that the total grew to over $ 325,000 in about a week.

Augur is based on the concept of “wisdom of the many” and the idea that the price of a share indicates the likelihood of a return.

There are already some interesting and also strange bets on the platform. The bet that Ethereum's course will exceed $ 500 in July is one of the “normal” predictions. On the other hand, the bet on whether Donald J. Trump will also be the US president from 2021 to 2025 will be even more unusual (on Augur only 10% of the bettors accepted this). Also, the question of who wins the NFL Super Bowl 53, is represented on Augur. Thirteen percent of users believed that these would be the Philadelphia Eagles.

Problems using Augur

Despite growing interest, many users complained about platform interface issues. The difficulties were varied, ranging from how to make bets to problems reporting bugs.

On the day of the release, user interest was highest with 265 users. Since then, the crowd has declined by more than 50%. This trend has been seen in all Ethereum apps in recent months. All show a sharp decline in user numbers and transaction volumes.

The ten largest dApps last had fewer than 1,600 active users. Of these ten dApps, most are crypto exchanges. Thus, Augur is responsible for a considerable proportion of all dApp users.

These numbers raise some concern about the health of the Ethereum environment in general. But they also show that things are more complicated for Augur if the dApp wants to gain momentum in the current bear market.

Sources: DappRadar, Predicitions.Global, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/kryptowaehrung-augur-rereicht-1-5-millionen-usd-transaktionsvolumen-in-der–stesten-woche/

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