10,000,000 TRX to be Awarded During Binance's Tron Trading Competition
Tron and Binance once again hit the news section with the announcement of a new trading competition on one of the largest cryptocurrency exchanges. With Tron fresh off of their mainnet swap, they are hoping to boost prices by increasing activity on the exchange.
— Binance (@binance) June 28, 2018
As of the time of writing, TRX is up 1.11% on Binance and currently sitting at a price of $0.03876. While the competition hasn't started yet, it is a good sign for users that are currently holding TRX tokens. Tron has made positive headlines daily for the past week with talks of a new secret project, Pornhub integration, separation from Ethereum blockchain, $50 Million TRX Burn, and the purchase of Bittorrent. But they have also seen their fare share of negative press including; Tron Genesis scam and plagiarized TRX Codebase.
Now that we have covered some of the headlines for the past week, lets get to the details of competition.
Binance TRX Trading Competition Details
- Opens – June 29th at 0:00 AM (UTC)
- Closes – July 6th at 0:00 AM (UTC)
- Top Trader = 2,000,000 TRX
- 2nd – 11th Place Traders = Even Split of 2,000,000 TRX
- 20 Semi-Random Traders = Even Split of 1,000,000 TRX
- Chosen from following ranks:
- 69, 99, 169, 189, 399, 599, 899, 999, 1299, 1699, 1899, 1999, 2099, 2399, 2599, 2999、3299, 3599, 3899, 3999
- Chosen from following ranks:
- Traders with at least 65,000 TRX volume = Even Split of 5,000,0000 TRX
- Binance will not count “Wash Trades” as part of your trading volume during the competition
- You can only win 1 of the prizes, even if you qualify for multiple
- All TRX rewards will be distributed 2 weeks following the end date
Final Thoughts on the Tron Competition
As of the time we are writing this, you would need to move at least $2,500 worth of TRX in order to qualify for the last prize split. This number will probably knock out a lot of the normal traders within the Tron community but it is still a low enough price point that a lot of traders should be able to swing it.
Some users on Reddit and Twitter were happy, while others don't they they stand a chance at winning:
they should stipulate a regulation as in formula 1. maximum amount of coins,purchases and sales per hour.then it depends more on the person: what he dares to sell before the price rises again.I agree with the previous speakers. It wins the one who does not mind. very boring. #TRX
— Aki 🇩🇪 (@boffixpics) June 28, 2018
Always with the trading stuff..just have a normal competition for once.
— ChristelleBotha (@ChristelleBoth3) June 28, 2018
These competitions are such rubbish. Whales getting richer…
— Homer J (@KpunToN00b) June 28, 2018
Ho about no. This is not a giveaway, this is you making money.
— Special Sami (@IM_SPECIAL_SAMI) June 28, 2018
This is such a horrible idea. This is a contest for only the rich. The middle man stands 0 chance in this contest. This will allow a whale with already so much power even more then they win. Plus it will cause nothing but pump n dump. Very disappointed @binance @justinsuntron
— Michael Murphy (@Murph2432) June 28, 2018