Cryptocurrency exchange Bullish has unveiled a trading competition scheduled for the third quarter of this year. The competition features a total prize pool of $14 million, with $10 million allocated to the top winner and the remainder distributed among other winners. Unlike previous contests primarily aimed at retail traders, such as those organized by Bybit and BitMEX, this competition focuses on professional traders. Participants will be evaluated on various criteria, including profit and risk metrics, by experts from firms like Annamite Capital, Nine Blocks Capital, Nickel Digital, and AlgoQuant. Finalists may need to present their trading strategies before the competition concludes.
This initiative coincides with a significant increase in institutional interest in cryptocurrency, marked by public companies adding Bitcoin to their balance sheets. Trading volume has surged, particularly on the CME, which has seen record open interest this year. According to a CoinDesk Indices report from April, institutions have played a significant role in bolstering Bitcoin's market dominance.
This initiative coincides with a significant increase in institutional interest in cryptocurrency, marked by public companies adding Bitcoin to their balance sheets. Trading volume has surged, particularly on the CME, which has seen record open interest this year. According to a CoinDesk Indices report from April, institutions have played a significant role in bolstering Bitcoin's market dominance.
