Magic Eden CEO and co-founder Jack Lu says the crypto trade is coming into a “hypothesis supercycle,” pushed by a growth in prediction markets and betting platforms which are mixing finance with leisure.“Hypothesis is mainstream now. And Magic Eden is constructing for this world,” Lu posted to X on Monday.“Prediction markets are throughout Emmys and the information. Betting is the second quickest rising trade within the US after AI. Sportsbook sponsorships are throughout everybody’s favourite sports activities broadcasts. Hyper informal video games + real-money gaming are converging.”Lu’s remarks come as prediction markets’ buying and selling volumes reached a document $814.2 million on Monday, smashing the earlier document of $701.7 million final Monday, Dune Analytics information reveals. Day by day buying and selling quantity on prediction markets since September 2024. Supply: Dune AnalyticsKalshi continues to guide buying and selling volumes throughout politics, finance, sports activities, and leisure markets, whereas Polymarket and Opinion are additionally performing strongly.Magic Eden to capitalize on speculationIn the identical put up, Lu confirmed that its new crypto on line casino and sportsbook platform Dicey will launch this quarter. The platform is designed to let customers host video games and wager in a decentralized setting, in response to the corporate.Earlier on Monday, Magic Eden mentioned tokenholders will even get a reduce of any new initiatives. A complete of 15% of Magic Eden’s income will probably be allotted to ME (ME) token holders, the corporate mentioned.This income will probably be cut up equally between ME buybacks and staking rewards, paid out within the USDC (USDC) stablecoin.Income earned from staking will probably be based mostly on how a lot ME is staked and for a way lengthy, with USDC rewards claimable month-to-month ranging from March. Supply: Magic EdenNFT trade struggles to bounce backThe bulletins come after the NFT market cap fell 68% from $7.95 billion to $2.5 billion in 2025, CoinGecko information reveals.Organizers of the NFT Paris convention mentioned the market pullback contributed to their canceling the occasion this yr.“Regardless of drastic price cuts and months of attempting to make it work, we could not pull it off this yr.”Associated: Animoca buys Somo as NFT market rebounds early in 2026Lu mentioned Magic Eden plans to increase past NFTs as speculation-driven merchandise achieve mainstream traction.The NFT market has began strongly in 2026, with the NFT market cap again over $3 billion, a 28% enhance over the primary 20 days.Journal: One metric reveals crypto is now in a bear market: Carl ‘The Moon’Cointelegraph is dedicated to unbiased, clear journalism. This information article is produced in accordance with Cointelegraph’s Editorial Coverage and goals to supply correct and well timed info. Readers are inspired to confirm info independently. Learn our Editorial Coverage https://cointelegraph.com/editorial-policy
Source link
