The native token of Limitless, a prediction market on Base, Coinbase’s Ethereum Layer 2 network, is surging this week after trading volume on the platform hit an all-time high in January.
Launched in October, the LMTS token has struggled so far, falling as much as 86% to $0.05. However, it is up 135% this week and another 2% today amid surging platform activity, which saw $200 million in notional volume in January, according to Dune Analytics.
This marks a 56% jump from December, when it handled $128 million in volume.
Limitless Notional Volume – Dune Analytics
The Protocol launched its Airdrop claim for Season 2 on January 28, just a day after the start of Season 3, which runs until May 25.
Limitless also allows users to stake their tokens in the protocol. Currently, there are over 23 million LMTS deployed, earning just over 9% APY and representing almost 18% of circulating supply.
While the growth of the prediction market is in line with the industry’s meteoric rise, Polymarket’s activity still falls in the shadow of Limitless, with the leading decentralized prediction market recording record volumes of $3.4 billion in January.
Competition in the prediction market is only set to increase, as Hyperliquid yesterday unveiled its upcoming HIP-4 markets, which will support prediction market-like “outcomes” trading.