Binance, one of the world’s largest cryptocurrency exchanges, has expanded its basket of cryptos on offer, this time supporting Augur (REP). The new offering will allow REP to be traded in multiple pairs, including REP/BNB, REP/BTC, and REP/ETH, per a company announcement.
Augur is a decentralized oracle and prediction market platform built on the Ethereum blockchain that was founded in 2014 by Jack Peterson and Joey Krug. The coin is billed as a tool for prediction markets, while also assisting with forecasting. More specifically, Augur reflects an open, global platform where anyone anywhere can create, monitor or trade in prediction markets about any topic.
With a market cap of $658 million, Augur constitutes the 36th largest traded cryptocurrency. The coin has seen its value grow in 2018, following a retreat from a high back in December 2017. News of its support on Binance caused Augur to shoot up over 24.2 percent at the time of writing, which is now trading at $59.04 Friday. Binance users will be able to trade Augur against Binance coin as well as leading cryptos Bitcoin and Ethereum.
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In addition, Binance users trading Augur (REP) will adhere to the following fees, including a transaction fee of 0.1 REP as well as minimum withdrawals of 0.2 REP.
The support of Augur is the second marquee update at Binance in as many months, following April’s launch of its ‘dusting’ feature. Last month saw Binance support a new streamlined process whereby users can consolidate their ‘dust,’ referring to coin fragments left in users’ accounts after they trade.
This had previously been considered to be a large and lingering concern amongst Binance customers because the dust could accumulate and add up to fairly significant sums.