This Crypto Whale Has Made Over $ 500,000 On Transactions Without Moving Bitcoin Or Ethereum

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One Polymarket user has won over half a million dollars. Polymarket is an Ethereum based betting platform where users can place bets on various events such as elections, news or the price of Dogecoin on a certain date.

According to Polymarketwhales.com, the participant, who is the most profitable user of the platform, made around $ 566,084 in earnings.

Participants on Polymarket place their bets or trades in USDC stablecoin, in turn receiving actions that match the probability of a certain outcome.

Users can buy or sell stocks even before a resolution. There is a 2% transaction fee charged in addition to the Ethereum gas fees that users incur when depositing and withdrawing from USDC. Polymarket Beta was launched on June 16, 2020.

Part of the recent bets that the most profitable Polymarket whale has made is betting on whether the Ethereums London hard fork upgrade will happen as planned.

In July, the bettor was also betting on whether the decentralized funding platform Iron Finance would have reached a total value of more than $ 500 million locked in as of August 1.

Some other things the whale bet on were:

who would be the richest person in the world on February 27, 2021. what would be the price of ETH on August 11, 2021. whether or not more than 56 points would be scored in Superbowl 55. whether “The Suicide Squad” will earn more US $ 37.5 million opening weekend. whether or not Cardano will support smart contracts by October 1 of this year.

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Featured Image: Shutterstock / Gudkov Andrey

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