- Binance has announced its largest-ever prize pool of $10 million for the Binance Traders League, featuring competitions in both Spot and Futures trading with various participation criteria.
- The event aims to strengthen the trading community by providing significant rewards and opportunities for traders to showcase their skills and collaborate.
Binance, the largest crypto exchange, has announced its most substantial prize pool ever, offering a whopping $10 million in rewards for participants in its Binance Traders League. This event promises to be a significant opportunity for traders to showcase their skills and compete for substantial rewards.
Two Main Competitions: Spot and Futures Traders Leagues
The Binance Traders League is divided into two primary competitions: the Spot Traders League and the Futures Traders League. Each competition has its own qualification and winning criteria, providing various opportunities for traders of all levels to participate and win.
Spot Traders League
In the Spot Traders League, participants need to reach a minimum trading volume of $500 during the competition period to qualify. The prize pool for this league is up to $3 million in BNB token vouchers. Participants will be ranked based on their total spot trading volume and return on investment (ROI), with the top performers sharing $1.5 million in BNB for each competition. Additionally, a limited-time mission campaign offers an extra $200K in USDC for participants exploring Spot Copy Trading and Trading Bots. The solo competition is set to run from October 8 to October 28, 2024.
Futures Traders League
The Futures Traders League boasts a more extensive prize pool of up to $7 million in USDT token vouchers. This league features both solo ROI and team PNL competitions. First-time futures traders will share a welcome prize of $700K USDT. The solo competition will also run from October 8 to October 28, 2024, while team competition registration opens on October 10, with trading occurring from October 17 to November 6, 2024.
A Platform for All Traders
Rachel Conlan, CMO at Binance, emphasized the inclusive nature of the competition, stating, “We’re creating a space where retail traders can compete alongside larger ones. Every participant has the chance to learn, grow, and earn rewards for their efforts.” This initiative is expected to strengthen the trading community by providing a platform for both solo traders and teams to showcase their skills.
Impact on Binance Coin (BNB)
The announcement of the Binance Traders League comes at a time when Binance Coin (BNB) has seen a 3% decline over the last seven days, although it has risen by 12% over the past 30 days. As of the announcement, BNB is trading at an average price of $563.06. The initiation of this trading competition is expected to positively impact BNB’s value, potentially boosting its price as trading activity increases.
The Binance Traders League represents an exciting opportunity for traders to engage in high-stakes competition, hone their trading skills, and earn substantial rewards. Whether participating in the Spot or Futures leagues, traders have a chance to make their mark and potentially influence the market dynamics.
