KuCoin, a leading cryptocurrency exchange, has announced a new prediction challenge focused on the price movements of five prominent crypto assets: XRP, Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Root Network (ROOT). Participants in the challenge will have the opportunity to win a share of a $30,000 prize pool.
Challenge Details and Prizes
The competition centers around predicting which cryptocurrency among the five listed will experience the highest daily price gain. The challenge will run for four days, commencing on April 5, 2024, at 00:00 UTC and concluding on April 8, 2024, at 23:59 UTC. Each day will feature a separate round, pitting ROOT against one of the other four established cryptocurrencies (BTC, ETH, SOL, and XRP).
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Participants will have 24 hours within each round to predict the coin they believe will exhibit the strongest price increase. A daily prize pool of $5,000 will be distributed among those who make the correct predictions. Additionally, a grand prize pool of $10,000 will be awarded, bringing the total potential winnings to $30,000.
Eligibility and Participation Rules
To participate in the challenge, users must be registered KuCoin users with a minimum daily trading volume requirement of 200 USDT for spot trading and 500 USDT for futures trading.
Eligible users can predict the best-performing cryptocurrency for each round. The number of prediction votes a user holds is determined by their daily accumulated trading volume, with a maximum of 50 votes obtainable per day. It’s important to note that users can only allocate their daily votes to a single coin within each round, regardless of the total number of prediction votes available.
The prediction window for each round closes at 16:00 UTC. Winners will be determined by calculating the ratio of each user’s total correct predictions to the total number of votes cast by all participants, multiplied by the relevant prize pool. KuCoin will announce a separate date for prize distribution to the winning participants.
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Current Crypto Market Conditions
While the KuCoin price prediction challenge offers an opportunity for users to potentially profit, it’s crucial to acknowledge the current state of the broader cryptocurrency market.
As of press time, all five cryptocurrencies featured in the challenge have experienced slight price changes over the past 24 hours. XRP, SOL, and ROOT are down 2.79%, 1.2%, and 0.13%, respectively.
BTC on the other hand, is up by 3.5%, while ETH is at 0.30%. Participants in the challenge are encouraged to carefully consider these market conditions and conduct their research before making any predictions.
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