The cryptocurrency exchange Bybit has launched a Unified Trading Account (ETA) and a trader tournament with a prize pool of up to 700,000 Tether (USDT). The news was reported in the platform’s в блоге.
ETA is a universal account that allows:
- to trade on the spot market, with margin, futures and options without the need to transfer funds between accounts;
- to use unrealized profit as margin;
- to collateralize positions with any combination of 60 supported assets;
- to hedge trades and reduce the risk of liquidation.
To celebrate the release, Bybit launched a trading contest with a total prize pool of up to 700,000 USDT. The event will run from March 8 to 25.
The top prizes are up to 55,000 USDT for first place and 7,000 USDT for trading on the futures and spot markets respectively. Users who activated the ETA will additionally share in 50,000 USDT.
The prize pool and the number of winners depend on the total trading volume of traders. The maximum number of prize places is 1,500 in both categories.
To participate you need to register on странице турнира and reach a minimum of $1000 trading volume. In ranking, Bybit does not count trades conducted via copy trading and trading bots.
Bybit — a cryptocurrency exchange with support for spot and futures trading, options, staking, DeFi mining, NFT, and P2P trades. According to CoinMarketCap, the platform ranks second in derivatives trading volume with an average of more than $8 billion per day.
Bybit introduced Bybit Card — a Mastercard debit card.