Binance to Give Away 100,000 INS
Binance is becoming known as the preferred cryptocurrency exchange for traders due to the vast number of coins listed as well as the low fees associated with making trades. They are also known for their monthly Community Coin of the Month programs [7th Round Winner: Pundi X] as well as free give away contestants.
Today they have released details on the INS Ecosystem, better known as INS, trading competition that will give away 100,000 INS tokens among the top traders. To celebrate INS's 6 month of being listed on Binance as well as their Wallet release and Q4 Mainnet launch, Binance hopes to increase traders interest in the token.
— Binance (@binance) June 20, 2018
There is no doubt that we will see the price of INS jump due to increased trading. Although INS wasn't just listed, it was actually listed 6 months ago, we should see part of the Binance Effect.
Binance INS Competition Details:
2 tier Competition:
- Tier A: 60,000 INS at stake
- 1st Place = 20,000 INS
- 2nd Place = 10,000 INS
- 3rd Place = 5,000 INS
- 4th-15th Place = Evenly Split of 25,000 INS
- Tier B: 40,000 INS at stake
- If you increase your INS hodlings by 2,000 or more during the competition you will get an even split of 40,000 INS.
INS Competition Timeline:
- Opens: June 21, 2018 at 0:00 AM (UTC)
- Closes: June 28, 2018 at 0:00 AM (UTC)
At the time of this writing, INS is worth $0.89 per token. So first place would be worth $17,800 USD but you may end up spending just as much in order to get the the first place prize. In order to be in the running for Tier B, you would need to spend at least $1,780 USD to be considered.
You can see full details on the INS competition here.