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With the growth of the cryptocurrency industry and the daily entry of new traders and investors into the space, futures trading has become one of the most preferable features.
Futures contracts are used in traditional markets to hedge risk or to gain additional exposure. Traditional and crypto futures also help markets lead price discovery. While futures trading obviously comes with risk, it allows users to take advantage of the volatile nature of digital assets.
The world’s largest cryptocurrency exchange, Binance, has decided to celebrate the growth of its futures-based services by allowing clients to participate in such a tournament where they can win BUSDs as well as edition NFTs. limited.
The Big Binance Futures Tournament has arrived
The crypto exchange recently broke the news, indicating that the registration period began on November 27 at 12:00 a.m. and will continue until December 24 at 11:59 p.m. (UTC).
The competition itself begins on December 10 at 12:00 a.m. and will run until December 24 at 11:59 p.m. (UTC).
Interestingly, Binance has also allowed a referral challenge period, which opened on the same date as the registration period and ends on December 9.
To register, users must have at least 100 BUSD in their USD-M futures portfolios or open multi-asset mode. Nonetheless, the company stressed that all users must be fully verified to participate.
The total prize pool for each competition will be determined by the number of all participants in all competitions. As Binance explained: the more participants there are, the higher the total prize pool will be, and vice versa. However, he has a maximum prize pool of 1,800,000 BUSD tokens.
New to this year’s competitions is the entry of different types of prizes. The meteoric growth of the NFT space prompted the cryptocurrency exchange to incorporate limited edition Zodiac NFTs as prizes.
Specifically, users entering the Team Competition and / or the Individual Competition can accumulate Referral Challenge Points, which could ultimately lead to 200 winners per day who will earn 2,400 NFT in total. Binance Futures will also double tournament P&L points for trades made with BUSD futures. Interested participants can get more information and register here.
About Binance Futures
Binance Futures, the derivatives arm of Binance, is the leading derivatives exchange. Since launching in the fourth quarter of 2019, Binance Futures has been the fastest growing exchange in the industry.
Binance Futures has quickly become the go-to place for retail users due to its continuous efforts to introduce innovative products, improve user experience and, at the same time, ensure transparent and stable performance that users can rely on. .
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