As a seasoned crypto investor with a keen eye for emerging opportunities, I must admit that the growth of Polymarket has caught my attention. Having witnessed the crypto space evolve over the years, I can confidently say that this blockchain-based prediction market is carving out its own niche.
As a crypto investor, I’ve noticed some remarkable expansion in Polymarket, the blockchain-driven prediction market, over the past month. This surge has been particularly noticeable since the onset of discussions surrounding the U.S. elections.
Based on stats from Dune Analytics, there were over 1.5 million wagers placed on Polymarket during July. As of now, the cumulative amount of bets since the market prediction platform was launched stands at approximately 5.29 million.
Additionally, Dune Analytics data indicates that the total accumulated bet trading volume on Polymarket surpassed $1 billion. Notably, the betting volume for July increased significantly, rising by approximately 219% compared to the previous month. This increase took the monthly volume from $111.56 million to a staggering $355.23 million.
As the intensity of discussions regarding the U.S. presidential elections intensifies, there’s a notable increase in trading activity on the Polymarket platform. Based on information provided by Polymarket, the accumulated wagers placed on the forthcoming elections have surpassed $439 million.
According to the market prediction tool, it’s estimated that Donald Trump has approximately a 57% likelihood of winning the upcoming U.S. elections in November, based on bets totaling over $54 million. On the other hand, Vice President Kamala Harris is forecasted to have around a 39% chance of being elected as the 47th U.S. president, with bets amounting to about $38.5 million placed against her.
As a researcher delving into the dynamic world of cryptocurrencies, I recently came across an intriguing development: based on a report from crypto.news dated July 24, Polymarket has partnered with MoonPay to expand their reach. This collaboration aims to grant access to their Polygon-based prediction market platform to those who are not yet part of the crypto community.
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2024-08-03 01:47