Polymarket's "BTC 5-Minute Price Movement Market" Reaches $25.2M in Trading Volume Over 40 Hours

Odaily News Kunal Doshi, a researcher at Blockworks, posted on X stating that the newly launched 5-minute BTC market on Polymarket has generated $25.2 million in trading volume within 40 hours of its launch. The average trading volume per window is approximately $52,000, reaching 10% to 20% of the trading volume of the 15-minute market.

Data shows that 7.1% of unique addresses simultaneously purchased both Yes and No within a single window, with only 4.2% of addresses performing this operation in over 50 windows. Although the number of such addresses is small, their trading volume accounts for 7.5% of the total, and the number of trades accounts for 23.4% of the total. Among these, 92.6% of the orders were buy orders, and 72.3% were filled via limit orders. These addresses achieved profits in 80% of the windows, with a median execution price of $0.9823 for Yes plus No. Currently, the market exhibits early arbitrage behavior. If structured liquidity is introduced, the trading volume of the 5-minute market is expected to surpass that of the 15-minute market.