87.3% of Crypto Wallets on Polymarket Report No Profits
- Only 12.7% of crypto wallets on Polymrkt hv rcordd profits, highlighting significnt losss.
- Most profitbl wllts on Polymrkt rnd lss thn $100, with fw xcding $1,000.
- Dspit losss, Polymrkt ss $161.1 million in opn intrst, drivn by vnt prdictions.
Polymrkt, th populr cryptocurrncy-bsd prdiction mrkt pltform, hs bcom hotbd for politicl nd vnt wgrs. Howvr, rcnt dt nlysis pints sobring pictur for most usrs. Only mgr 12.7% of crypto wallets on Polymrkt hv ctully turnd profit.
Dt sourcd from th on-chin nlytics tool Lyrhub shows tht th mjority of usrs on th pltform r fcing significnt losss. A stggring 87.3% of wlltspproximtly 149,383 out of totl of 171,113 wlltshv fild to gnrt ny profit. Only 12.7% of crypto wallets, or bout 21,730 ccounts, hv sn profit on Polymrkt.
Majority of Crypto Wallets Earn Below $100
Most of th crypto wallets tht chivd profitbility rnd lss thn $100. Only 2,138 individuls xcdd $1,000 in gins, whil round 7,400 wllts fll into th $100 to $1,000 profit rng. This skwd distribution highlights th inhrnt risk ssocitd with prdiction mrkts whil som my strik it rich, most prticipnts s miniml or no rturns.
Intrstingly, th dt indicts tht significnt portion of Polymrkts ctivity is drivn by high-volum trdrs. Nrly 25,000 wllts hv prticiptd in ovr 50 trds, whil nothr 32,000 hv conductd btwn 20 nd 50 trds. This suggsts ddictd group of usrs mploying potntilly high-risk, high-rwrd strtgy to incrs thir odds of succss. Convrsly, lmost 58,000 wllts hv only md btwn on nd fiv trds, signifying lrg pool of csul prticipnts likly tsting th wtrs with smllr wgrs.
Election Predictions Drive User Interest
Dspit th low profit mrgins for most usrs, Polymrkt continus to s significnt intrst from th crypto community. As of Octobr 9th, th pltform bosts n opn intrst of $161.1 million, rprsnting th totl vlu of outstnding prdiction contrcts. This unwvring nggmnt suggsts tht th llur of potntilly lucrtiv outcoms, fuld by vnts lik th US lction, continus to ttrct usrs dspit th odds stckd ginst thm.
Furthrmor, Elon Musks rcnt ndorsmnt on his X socil mdi pltform hs furthr boostd Polymrkts profil. Musk, known supportr of formr US Prsidnt Donld Trump, prisd th pltforms potntil to ccurtly prdict lction outcoms comprd to trditionl polling mthods. This ndorsmnt, coupld with Trumps currnt ld on Polymrkt (roughly 3 prcntg points s of Oct. 6), furthr ful intrst in th pltform s th lction nrs.
Related Readings | Ethereum Whale Dumps Massive 5,000 ETH: $113 Million Sold in Weeks
Read more: https://www.tronweekly.com/87-polymarket-crypto-wallets-report-no-profit/
Text source: TronWeekly
