The meme craze has receded, and the prediction market has become a new battleground for Degen players

While the battle between meme launch platforms like Pumpfun and Bonk is in full swing, another market for Degens is starting to gain popularity in the space like Memecoin in '23.

The prediction market has grabbed the throat of the memecoins market with one hand.

John Wang, who just joined Kalshi as head of cryptocurrency last month, recently released a set of data showing that the prediction market has now reached 38% of the total market volume of Solana Memecoins.

After tripling Kalshi's trading volume in less than a month after joining the company, the overall trading volume in the prediction market also reached the level on the eve of last October's election. Another set of data is quite striking, the number of unique addresses on Memecoins has fallen from its peak in December last year, and the number of transactions has been less than 10% of its peak.

Left: Weekly trading volume in the prediction market,...

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