The prediction market on Base recorded a spike in trading volumes at the end of January.
The native token of Limitless, a prediction market on Base, Coinbase’s Ethereum Layer 2 network, is soaring this week after trading volume on the platform hit an all-time high in January.
The LMTS token, which launched in October, has struggled until now, falling as much as 86% to $0.05. However, it’s up 135% this week and another 2% today amid rising platform activity, which cleared $200 million in notional volume in January, according to Dune Analytics.
This marks a 56% jump from December, when it processed $128 million in volume.
The protocol launched its Season 2 airdrop claim on Jan 28, just a day after kicking off Season 3, which runs until May 25.
Limitless also allows users to stake their tokens in the protocol. Currently, more than 23 million LMTS are staked, earning a little over 9% APY and representing almost 18% of the circulating supply.
While the prediction market’s growth is in line with the sector’s rapid rise, Polymarket’s activity still dwarfs Limitless’, with the leading decentralized prediction market recording all-time high volumes of $3.4 billion in January.
Competition in the prediction market space is only set to increase, with Hyperliquid unveiling its upcoming HIP-4 markets yesterday, which will support prediction market-like “outcome trading.”