Cryptocurrency exchange Binance announced the launch of the cryptocurrency trading competition, Binance Traders League. The exchange has committed a record total rolling prize pool of over $10 million in rewards, establishing the Traders League as a key event for the community.
“The Binance Traders League is part of our mission to make crypto trading accessible and exciting for everyone, no matter their experience level,” said Rachel Conlan, CMO at Binance, in a written statement. “With a low qualifying volume and diverse competition criteria, we’re creating a space where retail traders can compete alongside larger ones. Every participant has the chance to learn, grow, and earn rewards for their efforts. This year’s record $10 million prize pool reflects the passion and growth of our global community, and we’ll continue to support our users on their crypto journey,” she added.
The Binance Traders League aims to be inclusive by offering a range of challenges that engage participants across all experience levels and align with their trading preferences. Individual competitions will assess participants’ skills and knowledge, while team competitions will promote collaborative strategies and build camaraderie among traders.
Participation in the Traders League is restricted to regular and VIP users ranked 1-6. The minimum trading volume required to qualify is set at $500 for spot competitions throughout the League’s duration and from the start of 2024 for futures competitions. To create a more level playing field, various competition criteria are available, focusing on ROI, PNL, or volume, enabling retail traders to compete more effectively against larger market players.
Competition To Feature Spot And Futures Traders Leagues With Distinct Prize Pools
The Binance Traders League consists of two primary competition leagues. The Spot Traders League features a rolling prize pool of up to $3,000,000 in BNB token vouchers. Qualified participants will be ranked based on their total spot trading volume and ROI percentage during the competition period. Top participants in each category have the opportunity to share up to $1,500,000 in BNB. Additionally, there will be a limited-time mission campaign with a total prize pool of $200,000 in USDC available for those who engage in Spot Copy Trading and Trading Bot activities. Solo trading competitions will take place from October 8th to October 28th.
The Futures Traders League offers a rolling prize pool of up to $7,000,000 in USDT token vouchers, allowing participants to compete in both Solo ROI and Team PNL competitions. First-time Futures traders can share a welcome prize pool of up to $700,000 in USDT. Solo competition trading will also run from October 8th to October 28th. Team competition registration will open on October 10th, with trading scheduled from October 17th to November 6th.
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