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
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.
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 treasuries and macroeconomic trends like inflation prompting hedge funds and family offices to allocate to the asset class.
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.
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