In times of severe volatility, trading volumes typically go up, and the last couple of weeks are no exception. Binance, the world’s leading cryptocurrency exchange, has decided to create a trading tournament where users can team up and share in a combined prize pool that can grow to as much as $1 million worth of BNB.
It’s important to note that trading futures and leveraged assets is not recommended for beginners, as it involves high risk of losing your capital.
Binance Futures has become one of the leading cryptocurrency exchanges where users can trade different digital assets with significant leverage.
Amid times of serious volatility, Binance has decided to give the opportunity to the most active of traders to earn additional rewards.
The tournament will be held between April 10th – 25th, and depending on the number of entrants, the dynamic prize pool will be up to $1 million worth of Binance Coin. The more people join the tournament, the greater the prize will be.
All the teams which trade the perpetual contracts on Binance Futures throughout the competition period will be ranked based on their total USDT Team Profit. All users in each of the teams need to have a minimum balance of 10 USDT before the start of the competition period.
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Each team needs to have a registered team leader who will receive 30% of the team’s prize. The top 10 performing team members will divide 20% of the remaining reward, while all other team members will receive 50% of the team’s total reward. It’s important to note that only team members with 50,000 USDT trading volume will receive a split of the reward.
Team leaders must sigh up between March 26th and April 10th. All other members can sign throughout that time but also until the end of the tournament.
In addition to the prizes from the dynamic pool, Binance will also provide $5,000 worth of BNB in a daily ROI competition. All of the users who take part in this competition will be ranked based on their daily USDT ROI from trading on Binance Futures.
It will go on for 15 sessions, each one lasting for 24 hours, starting at 0:00:00 AM (UTC) on April 10th.
The 1st place will receive $2,000 in BNB tokens, the 2nd place – $1,000 in BNB, the 3rd place – $500 in BNB, and the 4th-10th places will split a pool of $1,500 in BNB tokens.