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Crypto Exchange Bullish to Host $10M Trading Competition
The competition will be judged by a panel of industry veterans.
What to know:
- Bullish is launching a $14 million trading competition in Q3, with $10 million awarded to the winner and the rest split among other top and regional traders.
- The competition targets professional traders, evaluated by profit, risk metrics, and judged by a panel of industry veterans.
- The event aligns with growing institutional adoption of cryptocurrency, reflecting increased trading volumes and bitcoin dominance driven by public companies and major exchanges.
In this article
Cryptocurrency exchange Bullish has announced details for a trading competition that will take place in Q3 of this year.
The total prize pool for the competition is $14 million, with $10 million going to the winner and the remaining pool being spread across first, second and regional winners.
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Unlike trading competitions of the past set up by the likes of Bybit and BitMEX, which targeted retail traders, the Bullish competition is aimed at professional traders, and they will be judged on an array of factors, including profit and risk metrics.
These factors will be judged by industry veterans from Annamite Capital, Nine Blocks Capital, Nickel Digital and AlgoQuant. The finalists may be asked to present their trading strategies to the judges before the event concludes.
The competition comes at a time when the cryptocurrency industry is experiencing its largest wave of institutional adoption to date, which has been reinforced by public companies flocking to add bitcoin
to their respective balance sheets.Trading activity has also mirrored this shift, with the CME setting records earlier this year in terms of volume and open interest. A CoinDesk Indices report in April also suggested that institutions were driving bitcoin dominance earlier this year.
Disclaimer: Bullish and CoinDesk are both owned by block.one.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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