- Two Polymarket whales, with wallet addresses 0x1f2d and 0x8119, conducted over 1,600 trades totaling more than $4 million in support of Donald Trump’s victory in the 2024 US Presidential Election market over the past 24 hours.
- The number of trades made by these two wallets has intensified the buy pressure for Trump on Polymarket, causing his odds of winning to soar by 9% to 59% over the past few days.
- The persistent high-frequency trading activity from these two accounts contrasts with the lower velocity of bets placed for Kamala Harris on the platform.
A surge in trading activity on prediction market Polymarket saw two whales conduct over 1,600 trades in favor of Donald Trump totaling $4 million over 24 hours. The buy pressure coincided with Trump’s odds of winning the 2024 US Presidential Election market jumping to 59%.
The Top Trump Traders
- The first whale with wallet address 0x1f2d joined Polymarket in June. They hold 1,565,759 shares in the Trump victory market valued at $1,307,734 with a profit of $1,324,409.
- The second whale with wallet address 0x8119 joined in September. They hold 609,100 shares valued at $616,572 with a profit of $661,798.
High Frequency Trading
- Combined, the two whales executed over 1,600 trades supporting Trump in the past 24 hours.
- Many bets were placed within seconds or minutes of each other, suggesting active participation.
- The persistent purchases show an intense increase in buy pressure for Trump.
Trump’s Odds Surge
- Trump’s chances of victory rose by 9% alongside the whales’ trading activity.
- Bets for Kamala Harris have seen much lower trading velocity in contrast.
Wallet Analysis
- The whales frequently used USD Coin (USDC) for trades, with small transactions ranging from $0.30 to $1.87.
- Larger single trades were also executed, including a $430,282 transaction.
Conclusion
The intense trading activity of the two whales reflects strengthening conviction in a Trump victory among certain Polymarket users. However, it remains to be seen whether the buy pressure will shift the odds even further in Trump’s favor going forward. The next few months until the 2024 election will prove pivotal.
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