press release
PRESS RELEASE. ProBit Global has announced the native asset for the Ethereum network, ETH, as the next token for its series of trading competitions.
The crypto trading contest, which allows ProBit Global users to win rewards based on their trading volume, gives traders a low-risk way to win additional assets, with a total prize pool of 5,000 USDT up for grabs in this latest edition.
The ETH edition of ProBit Global’s popular trading competition comes in the wake of Ethereum’s successful completion of its Shapella upgrade, which introduced new features to the network, including enabling validators to withdraw their staked 32 ETH from December 2020.
The opportunity to win a share of the 5,000 USDT prize pool in return for trading the second-largest cryptocurrency comes as the dust settles on speculations around the upgrade’s impact on ETH’s price.
Despite what some market insiders had earlier suggested, data from token.unlocks and analytics firm, Glassnode, have now shown that the impact of the upgrade was on the Ethereum economy was not as severe as expected. Rather, considering the outlook that has been shared about the long-term impact of the shift from the Proof of Work (PoW) to the Proof of Stake (PoS) mechanism, it strengthened the resolve of many from within and beyond the Ethereum community to acquire some ETH.
“It seems a good time to get some ETH into the hands of more crypto enthusiasts—both new and old—considering the tidal energy that an improved Ethereum network will likely produce over time,” says ProBit Global Product Marketing Manager, Berkay Tuncay. “All eyes have been on the Shapella upgrade and the entire transition that Ethereum has been going through for some time.”
Slated to run from May 2 to 15, 2023, the upcoming competition enables traders to test their trading skills as the Ethereum network evolves with exciting opportunities, which some industry insiders say could see it diverge from Bitcoin and even increase in value.
The top 20 volume traders—ranked in total trading volume at a USDT rate—in the ETH/BTC and ETH/USDT trading pairs will share the total prize pool of 5,000 USDT (see details). The top trader will get 450 USDT, while the last in the order (20th) will get 175 USDT. While every trader has to stake a minimum of 100 PROB to be eligible for the competition, the membership level of each trader based on the amount of PROB staked will help unlock even lower trading fees.
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