DUBAI, UNITED ARAB EMIRATES – Media OutReach – 8 March 2023 – Bybit, the world’s third most visited crypto exchange, is proud to announce the launch of its first Unified Trading Fest competition. With over $700,000 in rewards up for grabs, this is an event for all Bybit traders. The 2-week-long competition starts on March 8th and ends on March 25th.
The competition offers a unique trading experience, allowing users to optimize their trades with Bybit’s new unified trading account (UTA). The UTA allows traders to manage their positions across both spot and derivatives trading with one single account. During the competition, users will be ranked based on their total trading volume during the two-week period.
Bybit has claimed the no. 2 spot in futures and perpetuals trading several times this year with daily trading volume totaling tens of billions of dollars thanks to its deep liquidity and split-second trading engine. Indeed, Bybit recorded its highest-ever market share in crypto derivative markets at 14.6% in January 2023.
The event is open to all users trading either spot (excluding USDC/USDT, BUSD/USDT, DAI/USDT, WBTC/BTC, and all USDC Spot pairs) or derivatives (USDC and USDT contracts). To qualify for rewards, traders must hit a total trading volume of at least $1,000 during the two weeks. And those who upgrade to UTA and hit a minimum trading volume of $10,000 on perpetual contracts will be eligible for an extra 50,000 USDC prize pool.
The higher a trader’s total volume is, the better their rank on the leaderboard, and the more rewards get unlocked. The prize pool for this competition includes both ranking prizes as well as random draw prizes for top participants who meet certain criteria, so there are multiple chances to win.
Bybit’s UTA is an all-in-one upgrade optimized for seamless and strategic trading. It enables users to trade across instruments such as spot, futures, perpetuals, and options all from one account. Also offering a clear and comprehensive view of risk and margin across positions, Bybit’s UTA supports over 60 asset types for cross-margin trading and unrealized profits can be used to open new positions for utmost flexibility and capital efficiency.
“Bybit is all about delivering next-level opportunities,” said Ben Zhou, co-founder and CEO of Bybit. “We have built an incredible product with our UTA and to celebrate its successful launch, I encourage all traders to come and see for themselves the benefits of trading with Bybit’s UTA and capture their share of this fantastic prize pool.”
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Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.
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