According to @Nick_van_Eck, prediction markets have siphoned attention from altcoins this cycle, with non-crypto friends discussing Kalshi and Polymarket rather than alts, source: @Nick_van_Eck on X, Dec 2, 2025. He frames prediction markets and perpetual DEXs as the current primetime conduits for speculation, source: @Nick_van_Eck on X, Dec 2, 2025. He asks what other net-new or newly mainstream venues are serving as speculation channels this cycle, source: @Nick_van_Eck on X, Dec 2, 2025. For trading strategy, this observation points to monitoring prediction markets and perp DEXs for retail-driven flow over traditional altcoin narratives this cycle, source: @Nick_van_Eck on X, Dec 2, 2025.