KuCoin has introduced an exciting new prediction challenge centered around popular cryptocurrencies such as XRP, BTC, ETH, and SOL. Participants will have the opportunity to compete for a prize pool worth $30,000.
The leading exchange has shared the details of the prediction challenge in a recent post on X.
Contest Details
The contest aims to determine which crypto asset, among Root Network (ROOT), XRP (XRP), Bitcoin (BTC), Solana (SOL), and Ethereum (ETH), will experience the highest price gain.
Specifically, ROOT will go head-to-head with XRP, BTC, SOL, and ETH to determine the best performer for each day. The challenge will take place from April 5 at 00:00 (UTC) to April 8 at 23:59 (UTC).
According to the announcement, the challenge consists of four rounds: ROOT vs. BTC on April 5, ROOT vs. ETH on April 6, ROOT vs. SOL on April 7, and ROOT vs. XRP on the final day, April 8. Each round will last for 24 hours.
Importantly, the daily prize pool for each challenge is $5,000, while the grand prize pool is $10,000, resulting in a total of $30,000 in rewards.
Competition Rules
To participate in the challenge, KuCoin users must predict which coin will achieve the highest gains on each day of the event period. The challenge is open to KuCoin users who have daily spot and futures trading volumes of at least 200 USDT and 500 USDT, respectively.
Users who meet the trading requirement can make predictions for each round to have a chance at winning a share of the $30,000 prize pool. Additionally, users can earn up to 50 votes per day based on their daily accumulated volume.
Each user is only allowed to vote for one coin per day, regardless of the number of prediction votes they have.
For example, if a user with 25 prediction votes selects XRP as the best performer on April 8, they cannot vote for ROOT on the same day. This means that the user will use all 25 votes on XRP before that round expires.
Notably, KuCoin will only accept predictions submitted between 00:00 and 16:00 (UTC) during the event period.
Prizes will be awarded based on the number of correct predictions made by each user, divided by the total number of votes from all users, and multiplied by the prize pool. KuCoin will announce a distribution date for the rewards.
Broader Crypto Market Experiences Decline
Meanwhile, the broader crypto market is currently seeing a decline, as all the assets featured in the challenge have registered slight drops in the past day.
At the time of writing, XRP has decreased by 2.4% in the past 24 hours to $0.57, BTC has experienced a decline of 0.5% within the same timeframe to $66,175, while ETH is trading at $3,326, down 0.5% in the daily charts.
Additionally, SOL has dropped by 2.8% to $185.52 in the past day, while ROOT has lost 5.3% of its value and is currently trading at $0.089.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.
