Source: Cointelegraph.com News
Published by source: Oct 7, 2026, 12:29 PM UTC
Polymarket CEO Shayne Coplan described the pursuit of 100x cryptocurrency tokens as 'irrational exuberance' during Token2049 Singapore, contrasting it with the more predictable odds offered by prediction markets. Polymarket has seen $1.21 billion in prediction volume over the past seven days, according to DefiLlama.
At Token2049 Singapore, Polymarket CEO Shayne Coplan criticized the trend of traders chasing the next 100x cryptocurrency token, calling it a 'game of irrational exuberance and hot potato' where asset prices that rise must eventually fall. Coplan noted that while some traders can generate significant wealth through this strategy, others are turning to prediction markets like Polymarket for more predictable opportunities. He explained that Polymarket does not offer exponential upside, but informed traders continue to wager on future events with more predictable odds. According to DefiLlama, Polymarket recorded $1.21 billion in prediction volume over the past seven days, ranking it as the second-largest prediction market after Kalshi. Coplan's comments come amid increasing regulatory scrutiny of prediction markets in the US, with more than a dozen states taking legal action against Polymarket or its competitors.