Cryptocurrency exchange Bitrue, known for its support of XRP, has launched a fresh trading competition centered around the digital asset. The week-long contest offers a total prize pool of $50,000 to be distributed among participants vying for the top spots in trading volume.
🎉 Join #Bitrue exclusive spot trading competition now!
📈 Trade the newly listed $XRP base pairs for a chance to win a share of 50,000 $USDT!
👉 Trade now https://t.co/KM3jEJIdqR pic.twitter.com/XhQa27lRhi
— Bitrue (@BitrueOfficial) March 22, 2024
Exclusive XRP Pairs in the Spotlight
This competition specifically focuses on recently listed XRP trading pairs on Bitrue. These pairs include popular meme coins like Shiba Inu (SHIB), PEPE, BONK, and Ordinal (ORDI), alongside utility tokens such as Optimism (OP), Xahau (XAH), Worldcoin (WLD), and Uniswap (UNI).
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By participating in the trading of any of these eight XRP pairs (SHIBXRP, PEPEXRP, BONKXRP, ORDIXRP, XAHXRP, OPXRP, WLDXRP, UNIXRP), users have the opportunity to claim a share of the $50,000 prize pool.
The Bitrue XRP trading contest commenced on March 21st, 2024, and is scheduled to run for one week. With three days remaining until the conclusion, there’s still time for traders to join the competition.
The prize pool allocation is determined by the total number of participants. With participation ranging from 1 to 500 traders, the prize pool remains at $1,000. This amount increases progressively as the number of participants climbs. For instance, a participant count between 501 and 1,001 will see the prize pool grow to $3,000.
Currently, there are 3,556 traders enrolled in the contest, resulting in a current prize pool of 27,000 USDT. Bitrue has committed to raising the prize pool to the full $50,000 if the number of participants surpasses 5,000 by the competition deadline.
Reward Distribution Based on Trading Volume
The distribution of rewards is primarily based on participants’ ranking in terms of trading volume achieved during the competition period. The top trader will receive the highest share of the prize pool, at 20%, followed by 15% for the runner-up and 10% for the third-place finisher.
For participants ranked between 4th and 30th, a collective 10% of the prize pool will be distributed proportionally. Similarly, those ranked 31st to 100th will share 15% of the total rewards, while the remaining 20% will be distributed amongst all participants ranked below 100th.
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Read Also: Bitrue Sparks XRP Price Speculation With Bitcoin ETF Approval
Eligibility and Reward Distribution Details
Participation in the Bitrue XRP trading competition is restricted to registered users only. It’s important to note that market makers are excluded from the competition and ineligible to receive rewards. Following the conclusion of the contest, Bitrue will credit the USDT rewards directly to participants’ futures trading wallets within a two-week timeframe.
This XRP trading competition is not the first of its kind on the Bitrue exchange. In February 2024, Bitrue conducted a similar competition with a significantly larger prize pool of $1 million. This latest competition presents another opportunity for XRP enthusiasts and traders on the Bitrue platform to win substantial rewards.
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