Bitrue, a popular pro-XRP exchange, has introduced a new trading competition centered around XRP, offering a prize pool of $50,000 for participants. The details of the competition were revealed through Bitrue’s official X account and website. This exclusive spot trading contest focuses on recently listed XRP pairs on the exchange.
Bitrue recently added XRP trading pairs for notable meme coins like Shiba Inu, PEPE, BONK, and Ordinal (ORDI). Additionally, utility coins such as Optimism (OP), Xahau (XAH), Worldcoin (WLD), and Uniswap (UNI) were also listed against XRP on Bitrue.
The competition is specifically designed for these pairs: SHIBXRP, PEPEXRP, BONKXRP, ORDIXRP, XAHXRP, OPXRP, WLDXRP, and UNIXRP. Participants can trade any of these pairs to have a chance at sharing the $50,000 prize pool.
The Bitrue XRP trading contest began on March 21 and will run for a week. Currently, there are six days and two hours remaining until the competition concludes.
The prizes are structured based on the number of participants. For one to 500 entrants, the prize pool is $1,000, which increases to $3,000 for 501 to 1,001 participants.
Currently, there are 2,527 traders participating in the XRP trading contest, with a total prize pool of $16,000. If the number of participants exceeds 5,000, Bitrue plans to increase the prize pool to $50,000.
Prizes are awarded based on ranking in trading volume. The first-place winner receives 20% of the prize pool, followed by 15% for second place and 10% for third place. Participants ranked 4 to 30 will share 10% of the reward, while ranks 31 to 100 will share 15%. The remaining 20% will be split among participants below rank 100.
To be eligible for the event, participants must successfully register. Market makers are excluded from participation and are not eligible for rewards. Bitrue will deposit the rewards in USDT into users’ futures trading wallets within two weeks after the conclusion of the contest.
It is worth mentioning that this is not the first time Bitrue has organized a trading competition of this nature. Last month, the exchange launched a similar XRP trading contest with a prize pool of $1 million.
Disclaimer: This article serves as informational content and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not necessarily reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.