Binance, the global blockchain platform, has officially launched the Binance Traders League, a new event expected to become an industry highlight, as per the most recent updates sent to Finbold on Tuesday, October 8.
The event features a prize pool exceeding $10 million, the largest ever in the history of the platform.
The Binance Traders League
Designed to promote inclusivity in the industry, the Binance Traders League features a number of different challenges to engage participation among crypto traders of all experience levels.
Traders can enter as solo competitors or join teams to foster further collaboration.
The event is available to regular and VIP 1–6 users, ensuring all participants have an opportunity to test their mettle, regardless of their status.
For spot competitions during the League period, the minimum trading volume required to qualify is $500.
For future competitions — that is, from early 2024 through the League’s duration — Binance has set diverse criteria, such as ROI, PNL, and volume, to create a more level playing field for retail traders competing alongside larger players.
Rachel Conlan, Chief Marketing Officer at Binance, shared her thoughts on the event:
“The Binance Traders League is part of our mission to make crypto trading accessible and exciting for everyone, no matter their experience level. 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.”
Binance Spot Traders League
The competition is divided into two main categories.
The Spot Traders League features a rolling prize pool of up to $3 million in Binance token (BNB) vouchers.
Participants will be ranked based on their spot trading volume and ROI, and top participants will have a chance to earn up to $1.5 million in BNB.
Binance has also introduced limited-time missions with a prize pool of 200,000 USD Coin (USDC).
The Solo competition in this category takes place from October 8 to October 28, 2024.
Binance Futures League
In the Futures Traders League, participants will compete for up to $7 million in Tether (USDT) vouchers.
Traders can compete individually in ROI-based challenges or in teams for PNL-based competitions.
First-time Futures traders are also eligible for a welcome prize pool of up to 700,000 USDT.
Solo competition in this category reflects the timeline of the Spot Traders League, running from October 8 to October 28.
Team competition trading, on the other hand, extends from October 17 to November 6, with team registration opening on October 10.
Source: https://finbold.com/binance-launches-traders-league-event-with-over-10-million-in-prizes/