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Bitrue Introduces New $50,000 Trading Contest for XRP

source-logo  thecryptobasic.com 22 March 2024 11:44, UTC

Leading pro-XRP exchange Bitrue has launched another trading competition centered around XRP, with $50,000 up for grabs for participants.

Bitrue disclosed details about the new trading competition via its official X account and website. Per the announcement, it is an exclusive spot trading contest for freshly listed XRP pairs on the exchange.

🎉 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

Bitrue XRP Trading Contest

Notably, Bitrue recently listed XRP trading pairs for prominent meme coins such as Shiba Inu, PEPE, BONK, and Ordinal (ORDI). Other utility coins recently listed against XRP on Bitrue include Optimism (OP), Xahau (XAH), Worldcoin (WLD), and Uniswap (UNI).

Accordingly, the exchange launched the spot trading competition exclusively for these pairs: SHIBXRP, PEPEXRP, BONKXRP, ORDIXRP, XAHXRP, OPXRP, WLDXRP, and UNIXRP. Users can trade any of them to share in a prize pool containing $50,000.

Notably, the Bitrue exchange launched its XRP trading contest on March 21, set to run for a week. Currently, there are six days and two hours left until the competition concludes.

Prizes are structured based on the number of participants. With one to 500 entrants, the prize pool is $1,000, increasing to $3,000 for 501 to 1,001 participants.

As of now, 2,527 traders are participating in the XRP trading contest, which has a total prize pool of $16,000. If the number of participants exceeds 5,000, Bitrue plans to boost the prize pool to $50,000.

While Participating

It is worth mentioning that prizes are distributed based on ranking in trading volume. Those in the first-place winner position receive 20% of the prize pool, followed by 15% for second place and 10% for third place. Meanwhile, 10% of the reward will be shared among ranks 4 to 30.

Moreover, those in ranks 31 to 100 share 15%, while the remaining participants below rank 100 split the remaining 20%.

Notably, Bitrue has outlined specific eligibility criteria for the event. Only those who have successfully registered are eligible to take part. Secondly, market makers are excluded from participation and ineligible to receive rewards.

Furthermore, Bitrue will deposit the rewards in USDT into users’ futures trading wallets within two weeks of the contest’s conclusion.

Notably, competition of this nature has not surfaced for the first time in the Bitrue exchange. Last month, the exchange launched a similar XRP trading contest with a $1 million prize pool.