Polymarket, a prominent platform, experienced its busiest month ever in November, largely driven by the U.S. Presidential Election. However, the momentum was short-lived, as December’s activity significantly cooled off.
November’s Record-Breaking Performance
November saw a surge in trading volumes on Polymarket, with the platform experiencing its highest-ever activity levels. The U.S. Presidential Election was a major contributor to this increase.
December’s Decline
In contrast, December’s trading volumes fell below not only November’s peak but also October’s numbers. This decline indicates a significant slowdown in activity on the platform.
Sharp Drop in Open Interest
Open interest on Polymarket has also taken a hit, dropping from nearly $500 million to a current total of $117 million. This sharp decline suggests a decrease in investor engagement and confidence.
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Source: News.bitcoin.com
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