Polymarket Volume Data Under Scrutiny Following Researcher's Discovery of Significant Error
Data Issue on Polymarket: A researcher from Paradigm, known as Storm, revealed that trading activity on the prediction market platform Polymarket may be overstated due to a data issue where trades are counted twice, leading to misleading volume figures.
Impact on Reported Volume: The duplication of trade entries has inflated both notional and cashflow volume metrics, affecting the perception of Polymarket's activity and raising questions about its recent valuation and reported trading figures.
Valuation Concerns: The Intercontinental Exchange recently valued Polymarket at $9 billion based on inflated trading volume, which may be unreliable if the duplicated counts are corrected, potentially impacting future fundraising efforts.
Call for Transparency: Storm emphasized the need for the prediction market industry to adopt shared and transparent reporting methods to ensure consistent measurement and accurate representation of trading activity.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0774 | 0.0852 | 0.094 | 0.102 | 0.11 |
| Fibonacci | 0.0686 | 0.0749 | 0.0788 | 0.0852 | 0.0915 | 0.0954 | 0.102 |
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