🚀 Polymarket Sees Record Trading Volume and Traffic in September
#Polymarket #TradingVolume #PredictionMarket #ElectionBetting #RecordTraffic #OpenContracts #Similarweb #Kalshi #Predictit #MarketTrends
According to Odaily, as of September 9, the prediction market platform Polymarket has achieved a trading volume of $137.3 million, surpassing the total trading volume of June this year, which was $111.56 million, and all previous months combined. On September 6, Polymarket recorded its highest daily trading volume in the past three months, reaching $34 million. In August, the platform's total trading volume amounted to $472 million. This week, approximately 75% of Polymarket's trading volume came from election betting. Additionally, Polymarket's open contracts have set a record, exceeding $120 million. Similarweb statistics indicate that Polymarket.com is ranked 5097 globally and 1666 in the United States. Over the past 30 days, the website has attracted 13.8 million visits. This month, Polymarket's traffic has surpassed that of its competitor Kalshi.com, which had 227,000 visits. Polymarket also leads in ranking and global traffic compared to another prediction market, predictit.org, which is ranked 10,457 globally and 2,041 in the United States, with 6.9 million visits last month.#Polymarket #TradingVolume #PredictionMarket #ElectionBetting #RecordTraffic #OpenContracts #Similarweb #Kalshi #Predictit #MarketTrends
🚀 Polymarket User Profitability Remains Low Despite High Interest
#Polymarket #UserProfitability #DecentralizedFinance #PredictionMarket #Crypto #Earnings #ElonMusk #2024Elections #MarketTrends #OpenContracts
According to PANews, decentralized prediction market platform Polymarket has revealed that only 12.7% of user wallets have achieved profitability. Data shows that out of 171,113 participating wallets, only 21,730 have made a profit. Most users have earned less than $100, with only 2,138 wallets earning over $1,000. Despite these figures, interest in world events on Polymarket remains high, with the total value of open contracts reaching $161 million. Elon Musk has suggested that Polymarket could potentially predict the outcome of the 2024 U.S. presidential election more accurately than traditional polls.#Polymarket #UserProfitability #DecentralizedFinance #PredictionMarket #Crypto #Earnings #ElonMusk #2024Elections #MarketTrends #OpenContracts
🚀 Polymarket Sees Decline In December Trading Volume
#Polymarket #TradingVolume #PredictionMarket #Dune #BlockBeats #ActiveUsers #NewAccounts #OpenContracts
According to BlockBeats, data from Dune indicates that the trading volume on prediction market Polymarket reached $1.7 billion in December, falling short of October's $2.28 billion and November's $2.577 billion. Despite the decrease in trading volume, the platform recorded a historic high in active trading users, totaling 309,228 for December. Additionally, there were 231,556 new accounts created during the month. However, the platform's open contract positions also saw a significant decline, dropping from a peak of nearly $500 million ($474 million) to the current $117 million, marking a reduction of over 75%.#Polymarket #TradingVolume #PredictionMarket #Dune #BlockBeats #ActiveUsers #NewAccounts #OpenContracts
🚀 Cryptocurrency Prices Remain Weak Amid Market Tightening, Says Tom Lee
#cryptocurrency #prices #markettightening #TomLee #Fundstrat #BitMine #quantitativetightening #liquidation #deleveraging #tradingvolumes #stocks #cryptocurrencycycle #opencontracts #cryptocycle
According to PANews, Tom Lee, co-founder of Fundstrat and chairman of BitMine, has noted that cryptocurrency prices have not rebounded since a significant liquidation event on October 10. The ongoing weakness suggests that market makers' balance sheets may be compromised. When balance sheets show a 'gap,' market makers tend to seek funding and reduce market liquidity operations, akin to quantitative tightening in the cryptocurrency sector, which can suppress prices. In 2022, this quantitative tightening effect lasted for 6 to 8 weeks, and a similar situation may be unfolding now.
However, Lee believes that cryptocurrency prices have not yet peaked in the current cycle. After analyzing five cycle explanations, he identified two with significant value, both indicating that the peak of the cryptocurrency cycle may still be 12 to 36 months away, differing from past cycles. Following the largest single-day deleveraging event in cryptocurrency history on October 10, trading volumes are still recovering, impacting related stocks. Historically, the fourth quarter is a strong season for cryptocurrency and stock prices, encouraging investors to increase 'open contracts.' Therefore, related trading volumes are expected to improve in the coming weeks.#cryptocurrency #prices #markettightening #TomLee #Fundstrat #BitMine #quantitativetightening #liquidation #deleveraging #tradingvolumes #stocks #cryptocurrencycycle #opencontracts #cryptocycle
🚀 Kalshi Experiences Significant Growth in Open Contracts Over Six Months
#Kalshi #Growth #OpenContracts #SportsContracts #PoliticalContracts #PlatformExpansion
Kalshi has seen remarkable growth in the past six months, according to Odaily. The platform's open contracts have quadrupled, reaching $410 million, consistently hitting new highs. Sports-related contracts have increased from 25% to 50% of the total, while political contracts remain steady at 25%, with other categories making up the remaining 25%.#Kalshi #Growth #OpenContracts #SportsContracts #PoliticalContracts #PlatformExpansion