Crypto Hedge Fund Manager Disputes Augur Metrics of $2 Mln, Claims Only $100,000 at Stake
Reactions to the Augur’s latest weekly report follow Jimmy Song highlighting low user numbers.
The latest criticism of the project, Alex Sunnarborg took Augur to task following publication of its most recent weekly report showing the amount of money circulating within its markets.
Specifically, the report claims around $2 million is currently involved in wagers set up by users. Sunnarborg, however, notes the figure includes wagers which have already closed.
“Augur metrics showing ~$2 (million) ‘total money at stake’ include markets that have already ended,” he tweeted, adding:
“If we exclude markets that have ended there is (less than $100,000) total money at stake on Augur.”
As Cointelegraph reported, cryptocurrency figures have pointed out an apparent discrepancy in Augur’s user numbers versus the amount the company raised in its 2017 initial coin offering (ICO).
“Amazingly, this is one of the success stories for an altcoin/ICO!” Song commented, while noting that Augur had produced better results than other ICO projects which failed to bring a product to market.
At the same time, the CEO of cryptocurrency trading platform BitMEX forecast a renaissance for ICOs within the next 18 months, countering the 2018 bear market which saw some tokens lose more than 90 percent of their value.
You may be interested
Bitcoin Falls Under $5,300 Again as Top Altcoins See Lossesbtcethereumadmin - April 21, 2019
Most of the top 20 cryptocurrencies are reporting slight to moderate losses on the day as bitcoin has fallen under…
Man Accused of Stealing Over $9 Million Worth of Dash Indicted in Israelbtcethereumadmin - April 21, 2019
An indictment has been filed against Afek Zard in Israel over the alleged theft of 74.990.74 Dash from his roommate.…
Blockchain Patent Granted to Cybersecurity Company Owned by U.S. Defense Contractorbtcethereumadmin - April 21, 2019
Texas-based cybersecurity company Forcepoint has been awarded a blockchain-related patent. Documents published by the United States Patent and Trademark Office…