Backpack, a number one crypto alternate and pockets platform, has confirmed report monetary outcomes for October, coinciding with heightened hypothesis in prediction markets concerning upcoming token era occasions (TGEs) and future valuations.
In a latest disclosure to the group through Discord, Backpack CEO Armani Ferrante shared numbers that spotlight the platform’s speedy trajectory. “Each the pockets and the alternate 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 operating to take a position on the Backpack Token launch and its absolutely diluted valuation (FDV).
Based on the newest information from Polymarket, group sentiment is overwhelmingly bullish. A majority of members predicted that the backpack’s valuation might simply exceed $1 billion ($1 billion) when launched. What’s much more outstanding is that just about half of speculators anticipate 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 strategy suggests a extra truthful and community-oriented launch, which has traditionally fostered elevated loyalty and long-term worth stability.
With a powerful income base of over $20 million monthly and a group valuing the challenge at billions of {dollars} earlier than the official token debut, Backpack has established itself as one of the vital anticipated occasions of the present crypto market cycle.
