There is growing speculation that the Polymarket platform may launch its own token and possibly hold an airdrop event, although the team has yet to officially announce such plans.
The surge in trading volume, particularly in relation to the US election cycle, has fuelled this speculation. Some traders have already begun to adjust their behavior, with so-called “volume farmers” buying and quickly selling stocks to increase their trading volumes in hopes of getting a bigger share of any rewards from a potential airdrop event.
Polymarket raised $70 million in Series B funding this year, leading some to believe that a token launch could be part of the platform’s future growth strategy. The company operates without transaction fees, further suggesting that the token could serve as a mechanism to generate revenue or offer functionality on the platform.
Several Polymarket users, including prominent traders or “whales,” expect the token to launch within the next year, potentially after the U.S. presidential election.
However, they also warn that any rollout could be limited, as Polymarket may focus more on raising capital than giving away tokens in significant quantities.
In short, although rumors abound, there is no official confirmation or timetable for a token release or airdrop from Polymarket at this point.
A recent report from digital asset bank Sygnum suggests that a rising trend could give Solana (SOL) an advantage over Ethereum (ETH) in the competitive smart contract space.
XRP is currently trading at $0.53 and has dropped nearly 15% in October, largely due to a renewed appeal by the U.S. Securities and Exchange Commission (SEC) in the ongoing lawsuit against Ripple.
Quite a few market participants maintain a positive outlook for Bitcoin as the fourth quarter approaches, driven by stable macroeconomic factors and institutional investment.
The cryptocurrency market is experiencing a notable decline since the beginning of the week, but remain a trending topic in the investment world.