Myriad Moves: Markets Flip Bearish on Bitcoin, and Can the Cowboys Upset the Eagles?

Prediction market gurus have plenty on their plate this week, between NFL kickoff and forecasting the next crypto market moves after recent all-time highs.

As crypto prices slide on Thursday morning, odds are shifting on Myriad’s prediction markets as predictors sway odds in favor of lower price targets for Solana and Bitcoin. Over $40,000 has been put up against predictions on the major crypto assets’ next moves. 

Meanwhile, a new flash market is offering sweeter odds for a major underdog in the NFL. Whether you’re into sports, crypto, pop culture, or something else entirely, there are plenty of markets to choose from.

Here’s a look at the hottest Myriad markets this week.

(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

Solana’s next move: Pump to $250 or dump to $130?

Market Open: August 26
Market Close: Open until resolution
Volume: $13.9K
Link: See the latest odds on the “Solana’s Next Move: Pump to $250 or Dump to $130” on Myriad

Validators of Solana’s speedy layer-1 network passed a proposal to significantly modify its consensus protocol earlier this week, aiming to make the network as fast as centralized financial counterparts. One analyst told Decrypt that anticipation over the upgrade may be enough to push the price of the network’s native token to $250 by year’s end. 

But will that happen before it dumps to $130? Predictors on Myriad are tasked with predicting which side of this market’s two poles SOL is most likely to hit first, $130 or $250. 

As of Thursday morning, predictors give $250 a 69% chance of being the next move, a mark that’s climbed slightly in the last 24 hours as Solana has slumped around 3% to $204.79. 

Technical analysis from last week indicates a slow, but positively trending price chart for SOL, which sits around 30% off its January all-time high of $293. Additionally, with increasing interest from publicly traded digital asset treasuries and a “near lock” ETF approval, price catalysts may be on the near-term horizon.

SOL token holders will see a jump of nearly 22% from today’s price if it reaches $250, but those who believe it will hit the mark soon could soak up around a 33% gain by predicting the move on Myriad. 

What’s Next? Decisions on delayed ETF applications could come as soon as October. 

BTC above $105K throughout September?

Market Open: August 31
Market Close: September 30
Volume: $27.8K
Link: See the latest odds on the “BTC Above $105K Throughout September?” market on Myriad

Bitcoin hit an all-time high above $124,000 just 22 days ago, but after a recent slump, predictors are now being asked whether or not the top crypto asset can hold $105,000 through the month of September. 

As of Thursday morning, bears are in control, with 66% odds being given to “no,” suggesting predictors feel that BTC will dip below $105,000 sometime in September. 

Those odds have swelled on Thursday, jumping almost 20% to favor a fall below $105,000 in the last 24 hours. Bitcoin is down around 2.3% in that timeframe, now trading hands at $109,750—just a 4.5% change from $105,000.

Bitcoin holders would lose 4.3% from this mark should they keep their holdings and BTC drops to $105,000. But hedgers could gain around 67% by maintaining a position on the “yes” side on Myriad throughout September. 

What’s Next? Bitcoin holders will no doubt be watching the charts closely during what’s historically a rough month for the asset.

Will the Cowboys upset the Eagles?

Market Open: September 3
Market Close: September 4
Volume: $1.08K
Link: See the latest odds on the “Will the Cowboys upset the Eagles?” market on Myriad

The National Football League is back in action, starting with a Thursday night kickoff between divisional rivals the Dallas Cowboys and the Philadelphia Eagles. 

The defending Super Bowl champions are a heavy favorite, but predictors on Myriad are asked whether or not the Cowboys have the chops to pull off an upset. 

Thus far, predictors give the Cowboys just a 20.4% chance, odds of around +390 when listed in American odds on traditional sportsbooks. In other words, predictors would stand to gain around $3.90 for every $1 put against their prediction should the Cowboys win. 

That provides a notable edge when compared to the line on popular sportsbook DraftKings, which lists the Cowboys at +320 or around a 24% chance of knocking off the Eagles.

What’s Next? Kickoff will take place at 8:20 p.m. ET on Thursday night.