Backpack, a number one crypto change and pockets platform, has confirmed report monetary outcomes for October, coinciding with heightened hypothesis in prediction markets concerning upcoming token technology occasions (TGEs) and future valuations.
In a current disclosure to the neighborhood through Discord, Backpack CEO Armani Ferrante shared numbers that spotlight the platform’s fast trajectory. “Each the pockets and the change had income of roughly $20,503,407 in October, or roughly $661,000 per day,” Ferrante stated. This income milestone proves that Backpack’s enterprise mannequin and mass adoption had been achieved with out counting on conventional enterprise capital (VC) funding, amongst different issues.
This monetary efficiency fueled optimism on forecasting platforms like Polymarket. Polymarket has two particular markets working to take a position on the Backpack Token launch and its absolutely diluted valuation (FDV).
In response to the most recent information from Polymarket, neighborhood sentiment is overwhelmingly bullish. A majority of members predicted that the backpack’s valuation may simply exceed $1 billion ($1 billion) when launched. What’s much more exceptional is that just about half of speculators count on the valuation to exceed $2 billion ($2 billion).
This market pleasure is pushed by key differentiators in Backpack’s technique. No VC token allocation. In contrast to many tasks that lock up and launch massive quantities of tokens for retail buyers, Backpack’s method suggests a extra truthful and community-oriented launch, which has traditionally fostered elevated loyalty and long-term worth stability.
With a robust income base of over $20 million monthly and a neighborhood valuing the challenge at billions of {dollars} earlier than the official token debut, Backpack has established itself as some of the anticipated occasions of the present crypto market cycle.
