‘Everything’s A Casino Now,’ Says Analyst As Prediction Markets Drain Liquidity From Altcoins
Posted On May 29, 2026
Prominent Bitcoin (CRYPTO: BTC) advocate Scott Melker warned that prediction markets, tokenized equities and pre-IPO perpetuals may be pulling speculative capital away from altcoins, leaving much of the sector trapped in a prolonged bear market.
Why Altcoins Are Losing Attention
“Everything’s a casino now,” Melker said during an interview on CoinDesk’s Markets Outlook on Thursday.
According to Melker, crypto’s original appeal was simple, it was the only 24/7 global speculation venue available to retail traders.
Now, traders can gamble on nearly everything from oil to elections to SpaceX IPO pricing without leaving crypto-native platforms.
Melker compared the early …
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