KuCoin has revealed an exciting new prediction challenge centered around prominent cryptocurrencies such as XRP, BTC, ETH, and SOL. Participants will have the opportunity to win a share of the $30,000 prize pool.
The leading exchange shared the contest details in a post on X today.
Contest Details
The contest revolves around determining which crypto asset, among ROOT Network (ROOT), XRP (XRP), Bitcoin (BTC), Solana (SOL), and Ethereum (ETH), will experience the highest price gain.
Specifically, ROOT will compete against XRP, BTC, SOL, and ETH to determine the best performer each day. The challenge will run from April 5 at 00:00 (UTC) to April 8 at 23:59 (UTC).
According to the announcement, the challenge consists of four rounds: ROOT vs. BTC on April 5, ROOT vs. ETH on April 6, ROOT vs. SOL on April 7, and ROOT vs. XRP on the final day, April 8. Each round will last for 24 hours.
Importantly, the daily prize pool for each challenge is $5,000, while the grand prize pool is $10,000, making the total rewards amount to $30,000.
Competition Rules
To take part in the challenge, KuCoin users must predict which coin will achieve the highest gains during each day of the activity period. The event is open to KuCoin users with daily spot and futures trading volumes of at least 200 USDT and 500 USDT, respectively.
Users who meet the trading requirement can make predictions for the best performer in each round, giving them a chance to share in the $30,000 prize pool. Additionally, users can receive up to 50 votes per day based on their daily accumulated volume.
Each user is only allowed to vote for one coin per day, regardless of the number of prediction votes they have.
For example, a user with 25 prediction votes who selects XRP as the best performer on April 8 cannot vote for ROOT on the same day. This means that the user will use all 25 votes on XRP before that round expires.
Notably, KuCoin will only accept predictions entered between 00:00 and 16:00 (UTC) during the activity period.
Prizes will be distributed based on the number of correct predictions made by each user divided by the total number of votes from all users, multiplied by the prize pool. KuCoin will announce a date for the distribution of rewards to the winners.
Broader Crypto Market Experiences Declines
Meanwhile, the broader crypto market is currently in the red, with all the assets featured in the challenge seeing slight declines in the past day.
At the time of writing, XRP has dropped 2.4% in the past 24 hours to $0.57, BTC has experienced a 0.5% decline within the same timeframe to $66,175, while ETH is trading at $3,326, down 0.5% on the daily charts.
Additionally, SOL has fallen 2.8% to $185.52 in the past day, while ROOT has lost 5.3% of its value and is currently priced at $0.089.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may reflect the author’s personal opinions and do not represent the opinion of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.