Despite the bear market, there are more innovative ways for crypto trading, as the vast ecosystem of coins and tokens is trying to set prices for various assets. The AirSwap (AST) project recently expanded its presence by striking a partnership with Augur (REP), the platform for crowd-sourced price predictions and reputation setting.
After the news, the market price of the AST token rose sharply from recent lows. ASP added more than 32% to $0.21. The token is still down by around 80% since peak levels in January 2018, when it traded as high as $1.75. The AST digital asset has also lost around 75% of its value in BTC prices.
AST is seeing relatively low volumes on Binance, and is a token traded against Bitcoin (BTC). This has led to some loss of interest, as currently tokens paired with Tether (USDT) are seen as more secure, allowing for a withdrawal to stable, fixed-price positions. But AST may also be seen as underpriced, and bought up in expectation of a new bull market in the coming months.
At the same time, the price of REP has continued to slide in the latest market downturn. REP fell to $33.48, down about 9% net this week, and losing 2.4% in the past 24 hours. REP also trades directly against BTC, but the price movement has been rather stagnant, hovering between 400,000 and 500,000 Satoshi for weeks.
Augur has lost its appeal in the past months, after taking years since its ICO to release its proprietary blockchain.
Recently, REP tokens completed their migration, and the launch of the ecosystem will be using the new “production” REP tokens. The price slide may be due to the loss of enthusiasm following the token swap. Augur has been called “The Uber for knowledge” by Ethereum’s co-founder Vitalik Buterin. The REP token, however, may seem problematic, as the predictions market is seen as a form of betting. The Augur platform is not only for crypto trading, but for predicting the outcome of any event, creating a marketplace for prediction outcomes and reputation.