Key Takeaways
- The World Series of Trading (WSOT) competition records massive success in terms of participants and prize money
- Traders gained profits as high as 10,000% and the prize pool was up to $8 Million
- Bybit continues to partner with UNICEF for the event, donating up to $40,000 for STEAM education program targeted at a vulnerable female student population in the Pacific and East Asia
- The competition is described as a sign of hope for the crypto industry, amidst the market dip of 2022
The World Series of Trading (WSOT) competition, which was held on July 17, hit new records despite the continued market dip being faced by the crypto sector this year, 2022. The world’s largest crypto trading competition, which saw traders gain profits as high as 10,000%, lasted for 20 days with a prize pool of up to $8 Million. The high numbers in profit simply added to the intensity of this year’s WSOT competition, making it even more interesting.
WSOT 2022 – A Record-Breaking Competition
Crypto users and investors now equate the World Series of Trading competition to be the world cup in the crypto trading world. It attracted up to 70,000 users with versatile skills in crypto trading. This year’s event also saw the prize pool doubled when compared to that of 2021. Last year’s event also saw only half of this year’s participants.
In this year’s competition, the prize pool was segmented into three, where the largest chunk of the prize pool ($6 Million) went for the Squad Race event. The Speed Zone Loot Events and Solo race each went for $1 million. There were also enough bonuses throughout the course of the competition. Bybit awarded participants over 1,000 NFT prizes as a bonus, some of which included the popular Mutant Ape Yacht Club NFTs and the CloneX NFT.
The success of the World Series of Trading competition, amidst the backlash of the 2022 crypto bear market, reinforces the resilience of the cryptocurrency universe. It is also expected to have a positive impact in the industry.
WSOT 2022 attracted a highly diverse audience. The event saw participants from more than 1000 squads spread across 182 regions contesting for the big prize. Of the 3,241 members, the Korean Titans were the largest team to play. Some of the other teams with many members include the Satto Squad and Sniper Squad.
Changing the World with Crypto Competition
Since the World Series of Trading Event entails smartness, bravery and keen knowledge of crypto trading, Bybit aligns with relevant bodies when hosting it. The dynamic exchanges is still in partnership with UNICEF, using the event to promote the education and enlightenment of women in both the Pacific and East Asia. This time, a donation of up to $400,000 in BTC was made to the relevant UNICEF department.
According to reliable information, the donation will go towards facilitating the STEAM (Science, Technology, Engineering, Arts and Mathematics) education program, mainly targeted toward young girls in a mountainous province in Vietnam.
Looking Ahead
Co-founder and CEO of Bybit, Ben Zhou, has expressed appreciation for the success of the World Series of Trading (WSOT) competition. He described the remarkable increase in the number of participants and its massive success as a sort of hope for crypto users, traders and investors amidst the continued market dip in 2022.
In his words:
“This competition demonstrated the unwavering faith of crypto enthusiasts all over the world; it’s a beacon of hope in the bear market.”
With the conclusion of the competition phase of WSOT 2022, the afterparty is the next. It is also expected to be better than previous ones, in all ramifications.
