Prediction Market and BTC Chain Special Topic: Polymarket's monthly trading volume exceeds 3 billion US dollars, BlackRock has accumulated 1 million BTC

Author: OurNetwork

Compiled by: Xiaobai Navigation coderworld

This week has been extremely eye-catching both on-chain and off-chain, mainly because of the US presidential election.cryptocurrencyPrediction markets supported by the coronavirus pandemic played an important role in helping track the final election results. Polymarket, in particular, saw billions of dollars in trading volume and gained widespread attention in political circles as it was covered in mainstream news media.BeforeThe election results were predicted.

So before we get into our regular Bitcoin coverage, we have a special report on prediction markets just for you. As always, on-chain data and OurNetwork’s team of top analysts tell a unique story.

Prediction Market + Bitcoin Ecosystem

Polymarket | Ostium | Bitcoin ETF | Rootstock | BOB

Polymarket

Ario | Website | Dashboard

Polymarket predicts that the market will exceed $3.11 billion in trading volume in 30 days

• Decentralized prediction market platform Polymarket was active during the 2024 U.S. presidential election. Users bet on a variety of outcomes on the platform, with a trading volume of more than $3.11 billion in the past 30 days. Polymarket's trading volume has risen sharply since late September, initially at around $17 million per day, soaring to more than $376 million on November 5 (Election Day), a 22-fold increase.

Flipside – @Ario

• The trading volume analysis shows that 27% transactions were between $1,000 and $5,000, and another 25% transactions were between $100 and $1,000, indicating a high level of participation from retail users. In addition, more than 20% of the total trading volume came from transactions with an amount greater than $20,000, indicating a significant influence from major market players.

Flipside – @Ario

• Polymarket’s daily active users hit a new high of 57,300 on November 5, up from less than 400 in early May. This growth, coupled with a high return rate of former users, indicates high user engagement. A record 15,800 new users signed up on November 5.walletJoin the platform.

Flipside – @Ario

Ostium

Kaledora Kiernan-Linn | Website | Dashboard

Ostium trading volume exceeds $50 million

• Ostium is making the macro economy tradable. Users only need to have awalletWith 10 USDC, you can trade everything from foreign exchange, commodities tocryptocurrencyPerpetual futures with various assets of stock indexescontractOstium’s cumulative trading volume of over 65% comes from real assets, with USD/JPY accounting for the majority of trading volume due to recent yen volatility and the Bank of Japan’s interest rate decision. Although CL/USD (oil) has a smaller trading volume, it ranks second in terms of the number of independent trades, accounting for over 20% of the total platform transactions.

Dune – @ostium

Dune – @ostium

• Trading volumes closely follow macro events related to each asset. In commodity markets, primarily oil, trading volumes reached an all-time high on October 25, the day Israel launched a retaliatory attack on Iran, as the market worried about possible damage to Iranian oil fields and its impact on prices.

Dune – @ostium

• Ostium recently launched theStrategies” feature, a product based on its trading engine that allows traders to automate trading strategies based on prediction market data, such as “if TrumpWin probability is greater than 70%, go long gold.” In the 10 days before the election, traders created more than 280 strategies on Ostium, including more than 100 on election night alone.

Ostium (internal)

Bitcoin ETFs

Ali Taslimi | Dashboard

ETF issuers have accumulated 1 million bitcoins in 10 months, accounting for more than 5% of the circulating supply of bitcoins

• Grayscale was once the largest Bitcoin ETF holder, but due to continued monthly selling, BlackRock took over. In just 10 months, the ETF issuer's Bitcoin holdings increased from 600,000 to more than 1 million, accounting for 5% of Bitcoin in circulation. This continuous buying pressure has pushed up Bitcoin prices to record highs, showing strong institutional interest in Bitcoin.

Flipside – @alitaslimi

• Daily Bitcoin net inflow data shows that issuers actively bought Bitcoin in the 30 days before the US election. Despite the recent increase in selling pressure from Ark/21Shares and Bitwise and the electionXiaobai NavigationbackTokenPrices rose across the board, with BlackRock and Fidelity being the biggest beneficiaries.

Flipside – @alitaslimi

• The percentage of Bitcoin held by issuers has steadily increased since the beginning of the year despite price volatility. ETFs have driven Bitcoin prices higher, and issuers continue to accumulate Bitcoin, indicating that these institutions may be implementing a long-term investment strategy.

Flipside – @alitaslimi

Rootstock

Guilherme Wenceloski & Martin Benedikt Busch | Website | Dashboard

Rootstock’s TVL grew by 107% per year, supported by 60% of Bitcoin hashrate

• Rootstock is the leading DeFi Layer 2 solution on Bitcoin. Its innovative roadmap (including BitVMX and Union Bridge) and emphasis on interoperability have drivenSafetyIn the fourth quarter of 2024, the average total locked value (TVL) reached $171 million, an increase of 68% from the fourth quarter of 2023. This growth mainly came from cooperation with protocols such as Sushi and Uniswap, as well as the rise in demand for Bitcoin DeFi.

Footprint – @BenediktBusch

• Rootstock introduced Sushiswap as a new partner and decentralizedexchange, which not only enriched its products but also drove significant monthly growth in TVL. This collaboration enhances Rootstock’s DeFi capabilities and connects Bitcoin to the broader DeFi ecosystem.

Footprint – @BenediktBusch

• RootstockCollective was launched in September 2024 and is a new DAO, which aims to support developers and incentivize projects on Bitcoin. Through Rootstock Collective, developers can obtain funding and governance rights. As of November 6, 2024, 6,645,263 RIF has been staked.

Footprint – @BenediktBusch

BOB

Dino | Website | Dashboard

BOB Summer Activity Platform Breakthrough, Daily Trading Volume Surges 27%

• Since launching on May 1, BOB’s daily active users have risen steadily, peaking at 8,192 on June 4. However, throughout the summer, BOB’s daily active users mostly stayed between 3,000 and 3,500. This lull in summer activity could mean that the concept of “DeFi on Bitcoin” was losing traction. However, this trend didn’t last long — BOB’s daily active users have climbed again, averaging 5,589 over the past month, bringing the platform’s total users to 172,379.

Dune – @daedalus_angels

• Similarly, BOB’s daily trading volume hit an all-time high of 145,224 on May 27, then stabilized between 55,000 and 65,000 over the next three months. Recently, BOB’s daily trading activity broke this sideways trend, with a 4-week average of 74,033 trades, an increase of approximately 27%.

Dune – @daedalus_angels

• BOB’s total value locked (TVL) currently stands at just over $120 million, consisting of $68 million in WBTC, $24 million in ETH, $14 million in tBTC, and $8 million in eSOV.

Dune – @daedalus_angels

The article comes from the Internet:Prediction Market and BTC Chain Special Topic: Polymarket's monthly trading volume exceeds 3 billion US dollars, BlackRock has accumulated 1 million BTC

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