Shayne Coplan, chief executive of the prediction market platform Polymarket, says crypto trading has become a game of "irrational exuberance." In his view, traders are competing to be among the first buyers of the next token that rises 100 times in value. Cointelegraph reported his comments on Oct 7, 2026.
Coplan compared the 100x chase to a game of "hot potato." He also said some traders are moving away from it and looking for prediction market bets with more predictable outcomes. That is the main point of the report.
The report does not name any token, exchange or trader that lost money in the 100x chase. It gives no figures on how many traders are moving from token hunting to prediction markets. It also does not say whether Polymarket plans any change to its own platform.
For anyone already holding a perpetual futures position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The report is one executive's opinion about how traders behave. It says nothing about funding rates, trading fees or order book liquidity on any exchange, so it gives no reason to expect the cost of holding a position to change.
Source: cointelegraph — Chasing 100x tokens is game of ‘irrational exuberance,’ says Polymarket CEO