In brief
- Top markets on Myriad’s prediction market include questions about Satoshi’s wealth and Kanye’s token.
- Predictors are not as bullish on ETH than they were last week, in line with the asset’s recent fall.
- But predictors are even less bullish on Bitcoin booming for Satoshi, and YZY jumping 50% by the end of the month.
Have a strong opinion about the upcoming performance of Kanye West’s Solana-based YZY token? You can make a prediction about it on Myriad’s prediction market.
Prediction markets are one of crypto’s fastest growing consumer applications, letting users put their money where their mouth is across disciplines such as politics, pop culture, crypto prices, sports, and more.
Markets move in real time and allow predictors to put their knowledge to the test, collecting USDC or points in return when they are right.
Top markets on Myriad this week include predictions about the YZY token, Bitcoin creator Satoshi Nakamoto’s wealth, and the next major price milestone for Ethereum.
(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN).
YZY market cap above $1.5 billion at the end of August?
Market Open: August 21
Market Close: August 30
Volume: $3.2K
Link: See the latest odds on the “YZY Market Cap Above $1.5B at the End of August” market on Myriad
Top signal?
After tons of teases and fake token launches pretending to be the real Kanye West meme coin, the controversial musician and fashionista apparently launched his own token Wednesday night.
Created on Solana, the YZY token is expected to be integrated into West’s brand and act as a “concept to put you in control, free from centralized authority.”
The token quickly soared to more than a $3 billion market cap before pulling back towards $1 billion, and now Myriad predictors are asked whether or not the token will surge back above $1.5 billion and stay there as August ends.
Early predictions lean “no,” with 87% of Myriad’s predictors siding against the YZY token’s rise.
The token currently sits at a $1 billion market cap according to DEX Screener, the resolution source for this market—meaning it will need greater than a 50% move upwards to resolve “yes.”
Interestingly, those who believe the token may rise to that level in the final days of the month could stand to earn more than 500% on their money should they predict on Myriad, as opposed to the 50% gain holding the token would provide.
What’s Next? If more announcements about the token come from Kanye, it could help shake up the token price—for better or worse.
Will Satoshi Nakamoto’s wealth be above $150 billion at the end of September?
Market Open: August 20
Market Close: September 28
Volume: $8.42K
Link: See the latest odds on the “Will Satoshi Nakamoto’s Wealth be Above $150B at the End of September” market on Myriad
Bitcoin has dropped 9% since it created its all-time high of $124,128, dropping the wealth of its pseudonymous creator Satoshi Nakamoto by the same amount in just a week’s time.
Myriad predictors are asked whether or not Nakamoto’s wealth—comprising around 1.1 million Bitcoin held in wallets tied to the creator—will be greater than $150 billion at the end of September. That’s around $25 billion greater than today’s number of $124 billion, according to data from Arkham Intelligence, the resolution source for this market.
To eclipse the mark, Bitcoin (and subsequently Nakamoto’s wealth) would need to jump around 20% from today’s price to mark a new all-time high around $137,000 per coin.
Predictors don’t think it’s happening. As of Thursday morning, predictors give it just a 10% chance of happening as Bitcoin slides further away from its recent all-time high mark.
But some pundits are still predicting major moves for the top crypto asset, with price targets of $180,000 or more by the end of the year. Will it make the jump, and pull up Satoshi’s wealth by the end of September?
What’s Next? Satoshi’s wealth, strictly tied to Bitcoin’s price, is likely to be volatile heading into Fed Chairman Jerome Powell’s Friday speech.
Ethereum’s next hit: Moon to $5,000 or dip to $3,500?
Market Open: August 11
Market Close: December 30, 2099
Volume: $35.9K
Link: See the latest odds on the “Ethereum’s Next Hit: Moon to $5,000 or Dip to $3,500 on Myriad
Ethereum was so close to creating a new all-time high and charging towards $5,000 last week, but it has since dipped to $4,235. That places ETH pretty much squarely in the middle of this Myriad market, which asks whether Ethereum will hit $5,000 or $3,500 next.
The swing has led to a dramatic odds shift in the last week, with odds of hitting $5,000 falling to 53% as of Thursday. Odds got as high as 86.4% in favor of $5,000 last week before the price of Ethereum started slipping, alongside odds for the market.
ETH’s slip has come amid four consecutive days of ETF outflows, which follows an unprecedented streak of net inflows—including a record-breaking day of more than $1 billion on August 11.
And now the broader crypto market, and this prediction market on Myriad, are pricing in some uncertainty ahead of Powell’s Friday speech in Jackson Hole, Wyoming.
Depending on Powell’s commentary and a potential interest rate cut, the market could “moon or dip,” sending the price and the market odds in either direction.
What’s Next? Powell’s speech will take place on Friday.
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