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Polymarket Hits Record High in December Active Traders: 2024 Report
December 30, 2024 – Despite a slight setback in trading volume, prediction market platform Polymarket has reached an unprecedented milestone by achieving its highest number of active traders in the same month.
According to recent data from Dune Analytics, Polymarket recorded a total trading volume of $1.7 billion in December so far, marking a decline from October’s $2.28 billion and November’s $2.577 billion. However, this dip has not deterred the platform’s user base growth. Instead, Polymarket witnessed its highest number of active traders in the month.
The statistics reveal that Polymarket experienced 309,228 active trading users in December, a significant rise from previous months. Moreover, 231,556 new accounts were created during this period, further solidifying the platform’s growing popularity.
A remarkable spike was observed on December 26, when over 55,000 participants joined the platform as daily traders, indicating a surge in user engagement and participation. This increase could be attributed to various factors, including market volatility, cryptocurrency price fluctuations, or the rise of decentralized finance (DeFi) and prediction markets.
It is worth noting that Polymarket’s remarkable growth has been one of the most notable highlights in the cryptocurrency world this year. In November, the platform saw an unprecedented surge in trading volume, peaking at $367 million on November 6 as users flocked to bet on the outcome of the U.S. presidential election.
The significant drop in open interest from nearly $500 million ($474 million) to $117 million represents a substantial reduction. However, this decline has not deterred Polymarket’s growth as it continues to attract new users and traders.
Source: www.cryptonewsz.com
