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
Coinbase Acquires Blockchain-Tracking Startup Neutrino for Undisclosed Pricebtcethereumadmin - February 19, 2019
Coinbase has acquired blockchain analytics startup Neutrino as part of a wider push to offer more diverse crypto assets across…
Bitcoin Price Crosses Key Long-Term Hurdle For First Time in 9 Monthsbtcethereumadmin - February 19, 2019
View: Bitcoin has passed through the 100-day moving average for the first time in 272 days. The primary lower-high trend…
Germany Seeking Industry Feedback for National Blockchain Strategybtcethereumadmin - February 19, 2019
The German government is seeking industry feedback ahead of developing the country’s blockchain strategy by the summer. A Reuters report…