VALLETTA, Malta, Aug. 28, 2020 /PRNewswire/ -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, announced the successful conclusion of its third Elite Trading Team Contest. The month-long contest with a total prize pool of 150,000 USDT attracted record-breaking interest, with 8,082 participants forming 231 teams, including 3Commas, CoinCodex, Bitsgap, Gunbotmany and other well-known global trading platforms.
During the contest, the competing teams generated a historic $703,658,154 in notional trading volume, which is about seven times the total trading volume of OKEx'sprevious Elite Trading Team Contest. The sotaytaichinh.vn team led by user Erik.Chu won the championship.
"We would like to congratulate all the teams and individuals who took part and achieved such outstanding results and thank them for using their amazing performance and sophisticated range of trading strategies on the OKEx platform," commented OKEx CEO Jay Hao. He continued: "We are very honored to have so many talented traders among our global user base as well as well-known platforms that choose to trade on OKEx, setting such an impressive yield record. We hope that this contest will become a platform for users to communicate and learn from each other, as well as a way for OKEx to give back to users. The bar is now certainly set very high for the next round."
The top 10 teams and top 50 individuals ranked by trading yield — as well as the 10 most popular captains — shared a prize pool of 150,000 USDT with individual rewards as high as 5,000 USDT and team payouts reaching 20,000 USDT.
This was the third Elite Trading Contest held by OKEx and a real indication of the growing popularity of both cryptocurrency trading and this type of event, in which individual traders and teams compete for high-stakes prize pools. According to previous data, the contest saw a significant increase in terms of both participants and transaction volume compared to the previous event, indicating that the reach and status of the OKEx Elite Trading Contest are constantly increasing.
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.