{"id":16529,"date":"2024-08-29T17:38:00","date_gmt":"2024-08-29T14:38:00","guid":{"rendered":"https:\/\/forklog.com\/en\/prediction-platform-bet-on-solana-surpasses-polymarket-in-trading-volume\/"},"modified":"2024-08-29T17:38:00","modified_gmt":"2024-08-29T14:38:00","slug":"prediction-platform-bet-on-solana-surpasses-polymarket-in-trading-volume","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/prediction-platform-bet-on-solana-surpasses-polymarket-in-trading-volume\/","title":{"rendered":"Prediction Platform BET on Solana Surpasses Polymarket in Trading Volume"},"content":{"rendered":"<p>On August 29, the daily betting volume on the prediction platform BET, operating on the Solana blockchain, reached $23.3 million, according to <a href=\"https:\/\/dune.com\/bigz\/drift-bet\">Dune Analytics<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1181.webp\" alt=\"1-1181\" class=\"wp-image-239989\"\/><figcaption class=\"wp-element-caption\">Data: Dune Analytics.<\/figcaption><\/figure>\n<p>The graph above illustrates the rapid rise of this metric. For comparison, the cumulative figure, excluding the last reported day, was $3.28 million.<\/p>\n<p>In terms of daily trading volume, the protocol surpassed the sector leader Polymarket on the Ethereum network ($5.87 million).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-876.webp\" alt=\"2-876\" class=\"wp-image-239990\"\/><figcaption class=\"wp-element-caption\">Data:<a href=\"https:\/\/dune.com\/rchen8\/polymarket\"> Dune Analytics<\/a>.<\/figcaption><\/figure>\n<p>The increase in BET&#8217;s trading volume occurred against a backdrop of a decline in the number of transactions from 733 to 607.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-497.webp\" alt=\"3-497\" class=\"wp-image-239991\"\/><figcaption class=\"wp-element-caption\">Data: Dune Analytics.<\/figcaption><\/figure>\n<p>BET (an abbreviation for Bullish on Everything) utilizes the Drift stack and offers features such as cross-margin trading and structured betting. The platform employs a liquidity pool from a related protocol. <\/p>\n<p>BET was launched on August 19.<\/p>\n<p>The surge in interest in such projects has emerged in the context of the upcoming U.S. presidential elections in November.<\/p>\n<p>According to Polymarket, the Democratic candidate Kamala Harris trails her Republican opponent Donald Trump, with 49% to 50%. The betting volume on the outcome has approached $757.6 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/4-320.webp\" alt=\"4-320\" class=\"wp-image-239993\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/polymarket.com\/event\/presidential-election-winner-2024?tid=1723806909608\">Polymarket<\/a>.<\/figcaption><\/figure>\n<p>Earlier, the cryptocurrency options exchange Deribit launched a new contract on the results of the U.S. presidential elections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 29, the daily betting volume on the prediction platform BET, operating on the Solana blockchain, reached $23.3 million, according to Dune Analytics. Data: Dune Analytics. The graph above illustrates the rapid rise of this metric. For comparison, the cumulative figure, excluding the last reported day, was $3.28 million. In terms of daily trading [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1665,842,1148,1159],"class_list":["post-16529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bet","tag-politics","tag-polymarket","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"45","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16529"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16528"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}