The prediction market Polymarket’s trading volume, new users and number of active trading users has hit record high performance in August. It has attained around $472,877, 266 Million trading volume in August , a month-on-month increase of 22.18%.
Polymarket’s monthly active trading users were 63,616 in August, a record high and a month-on-month increase of 42.88%. Apart from this, the number of new users in August alone reached 71,670, also a record high, up 10.23% month-on-month. According to dune data, Polygon has specifically seen a significant surge in trading volume coming from election, 76.4%. Weekly election users account to 64.9% in Polymarket, as the betting numbers suggested Trump’s winning chances rising to 53%.
The non-election trading volume in Polymarket, on the other hand, is $16,113,903, one of them being: “Bitcoin above $60,000 on August 30?” which took place 30 August.
Polymarket’s betting market has gone up so high that Bloomberg LP recently added election odds data from Polymarket to its Terminal. This is a testament to the fact that crypto community is keeping a tap on the political trends and election results, as that could herald a number of policies for the crypto industry. But what is interesting, is even politicians are taking heed of the crypto market and trying to appeal to the crypto community as they form a major vote bank.
Also Read: Trump Promises to Make US the ‘Crypto Capital of the Planet’
Source: https://www.cryptonewsz.com/polymarket-tradingvolume-new-users-highest-aug/