Cryptocurrency Exchange Bullish has announced details of the trading competition to be held in the third quarter of this year.
The competition’s total prize pool is $14 million, with $10 million being the winners, with the remaining pool spreading to the first, second and local winners.
Unlike past trading competitions established by BYBit and Bitmex for retailers, bullish competition is aimed at professional traders and is judged by a set of factors, including profits and risk metrics.
These factors are judged by industry veterans from Anamite Capital, 9 Block Capital, Nickel Digital and Argoquanto. Finalists may be asked to present their trading strategy to the judges before the event ends.
This competition comes as the cryptocurrency industry is experiencing the largest wave of institutional adoption to date.
BTC$109,544.37
on each balance sheet.
Trading activities also reflect this shift, with CME setting a record earlier this year in terms of volume and open interest. The April Coindesk index report also suggested that the institution was pushing for control of Bitcoin earlier this year.
Disclaimer: Both Bullish and Coindesk are owned by Block.One.