Interdax Launches DaxSummer Trading Contest with $60,000 Prize Pool

LONDON - Aug. 21, 2020 - PRLog -- Interdax ( a cryptocurrency derivatives exchange will launch DaxSummer, a month-long competition for traders to compete against each other by trading a bitcoin (BTC) perpetual contract. Starting 12:00 UTC on August 24, the contest lasts 30 days until 12:00 UTC September 23.

In DaxSummer, the prize pool is a minimum of 5 BTC (roughly $60,000), but can increase to a maximum of 10 BTC if there are at least 1,000 participants. The prizes increase incrementally with each 100 people that join.

The top 25 traders as ranked by return on investment will win a share of the approximate $60,000 prize pool with all winnings paid in the most popular cryptocurrency, BTC. To participate, interested parties have to register with Interdax and trade with at least 0.05 BTC to enter DaxSummer. On top of any prizes won, any profits made are also returned to traders at the end of the trading battle.

Interdax have already held featured trading competitions, including several with cryptocurrency influencers. DaxDecade was the most recent featured trading competition hosted by Interdax, with prizes worth around $18,000 awarded to the top ten traders. Trading battles are regular events on Interdax and are held both daily and weekly. Larger competitions like DaxSummer are less frequent but the prizes are much bigger.

Cryptocurrency markets have been reinvigorated as bitcoin climbed above $10,000 in late July and reached highs near $12,400 in late August, supported by rising trading volume. Therefore, DaxSummer will launch at a time where optimism in bitcoin (and cryptocurrency in general) is growing at a fast pace.

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About Interdax

We are an international team of engineers, traders, quants, gamers, miners, and designers who live and breathe crypto trading. Our unique platform merges next-gen social gamification and a proprietary trading system designed for stability and high throughput. Registered in the Seychelles and with offices in London and Hong Kong, Interdax's mission is to take crypto trading to the next level, aggregating its most unique aspects and evolving it to be more social, more exciting, and more rewarding.

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Tags:Bitcoin, Trading, Cryptocurrency, Derivatives, Exchange
Industry:Financial, Investment
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