Zeitgeist Prediction Market to Rely on CoinDesk Indices for Comprehensive Cryptocurrency Speculation

Crypto News– Zeitgeist, a prediction market platform built on the Polkadot blockchain network, has announced a partnership with CoinDesk Indices to utilize their benchmarks as the basis for predictions related to two distinct cryptocurrency categories.

Zeitgeist Prediction Market to Rely on CoinDesk Indices for Comprehensive Cryptocurrency Speculation

Under this collaboration, traders will have the opportunity to make predictions regarding the performance of the CoinDesk DeFi Select Index and the CoinDesk Smart Contract Platform Select Index. These indices, owned by the same company that publishes this website, encompass a wide array of cryptocurrencies and offer a comprehensive view of the market.

Logan Saether, CEO of Zeitgeist, expressed the benefits of this collaboration, stating, ‘Utilizing CoinDesk Indices’ expertise allows us to offer unparalleled prediction markets on one of the leading crypto index platforms in the world.’

The CoinDesk DeFi Select Index tracks a basket of decentralized finance tokens, including the native tokens of prominent protocols such as Aave, Curve DAO, Maker, Lido DAO, Synthetix, and Uniswap. On the other hand, the CoinDesk Smart Contract Platform Select Index measures the performance of the native currencies of versatile blockchain platforms like Avalanche, Cardano, Cosmos, Ethereum, Polkadot, Polygon, and Solana.

Andy Baehr, Managing Director at CoinDesk Indices, highlighted the utility of these indices, stating, ‘The DeFi and Smart Contract Platform select indices … provide users with easy access to intuitive segments and key themes of the digital asset space.’

Prediction markets enable participants to make predictions about real-world events, ranging from significant geopolitical developments like the war in Ukraine to more lighthearted topics, such as disputes between public figures like Mark Zuckerberg and Elon Musk. Advocates argue that these markets serve as a valuable source of expert opinions.