REPv2 Coin Drops 57% In 24 Hours. End Of The Road, Or Just A Pullback?

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REPv2 faced a significant decline of over 50% within a day, securing a top-two position on DEXTools’ Daily Losers list. Now, the question arises, is this decline the end of the road for the coin, or is it merely a temporary pullback? Let’s delve deeper to assess the situation.

Augur – Global Betting Platform Faces Declining Prices for REPv2 Token

Augur (REPv2) is an online platform where people can place bets on different activities like sports, elections, and weather outcomes. It maintains a global presence without any betting limits. The platform has been around since 2018 and has become even more popular recently because of changes in Europe’s online betting laws.

Coinbase Delisted REP

On March 16, Coinbase publicly announced the suspension of REP token trading on its platform. The US-based exchange explained that they regularly review the assets listed on their exchange to ensure they meet their listing standards.

#Coinbase will delist these coins on 29 March

Rally $RLY, DFI Money $YFII, Mirror $MIR, OMG Network $OMG, Loom Network $LOOM, Augur $REP
_____#Crypto #blockchain pic.twitter.com/IaasWBZBtq

— Crypto Maniac (@C_ryptoManiac) March 15, 2023

After conducting their assessment and subsequent reviews, Coinbase concluded that the trade of REP tokens no longer fulfilled their requirements. As a result, they decided to suspend trading of the REP token on their platform. This means that users could no longer buy or sell REP on the Coinbase exchange.

REPV2 Could Further Decline Amid Augur’s Criticism

The Augur platform has faced criticism due to its association with potentially illegal activities.

Decentralized prediction market Augur is attracting criticism following its launch as potentially illegal markets begin to surface on its platform https://t.co/NFqTtA8Amg pic.twitter.com/a9Ch4BNn6c #ethereum #blockchain

— Fresh BCASH (@FreshBCash) July 24, 2018

This has significantly impacted the declining prices of the REPV2 coin. The platform has drawn the attention from law enforcement agencies, as transactions conducted on the blockchain can be traced. This raises concerns about the security and legality of activities in Augur.

Wrong. Most of what happens on Augur is illegal. The cops can track your transactions on the blockchain. And there's no guarantee that it's actually secure.

— Paul Everton 🚲🚲🚲 (@realpauleverton) January 15, 2019

Furthermore, major cryptocurrency exchanges like Binance and Coinbase have delisted the REPV2 coin, further exacerbating the downward pressure on its price. This indicates a loss of confidence from these prominent exchanges. Such developments can substantially impact the coin’s trading volume and market demand.

In addition to these delistings, there is the potential for Augur’s REPV2 coin to face delisting from Korean exchanges. The Korea Digital Asset Exchange Association (DAXA), among other authorities, intends to jointly delist Augur. If this were to happen, it would intensify the pressure on the REPV2 coin.

👀 Members of Korea Digital Asset Exchange Association DAXA to jointly delist Augur (#REP)

— FortuneNodeOfficial (@Fortunenode_) June 29, 2023

Given the combination of illegal activity concerns, delisting from major exchanges, and the potential for more sidelining, the REPV2 coin is poised to face further significant pressure.

REPV2 Price Analysis

REPV2 token experienced a significant decline of over 57% within the past 24 hours. This continuous downward trend began in March 2023, primarily driven by delisting the REP token from Coinbase. The situation worsened when the Korea Digital Assets Association Exchange (DAXA) revealed plans for a potential delisting of Augur, the platform behind the REPV2 token, leading to a massive drop in its price.

While REPv2 might not look like a promising coin right now, there is another coin that can offer great growth potential.

Alternative to REPv2

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