Global crypto trading competition breaks records despite bear market

The WSOT, the world’s largest crypto trading competition, concluded on a high note on July 17, with traders dividing a record-breaking $8 million prize pool. Despite difficult market conditions, the best traders made over 10,000% profits after 20 days of intense competition.

This year’s competition attracted nearly 70,000 traders eager to show off their skills in what has become the crypto trading equivalent of the World Cup. There were twice as many participants as in 2021, resulting in a prize pool that was 100 percent larger than last year.

“This year I’ve been bowled over by the success of the WSOT, both in terms of the number of people, and the community spirit of the event,” said Ben Zhou, co-founder and CEO of Bybit. “This competition demonstrated the unwavering faith of crypto enthusiasts all over the world; it’s a beacon of hope in the bear market.”

The prize money was divided into three categories. The Squad Race offered $6 million in prize money, while the Solo Race and Speed Zone Loot events each offered $1 million. 

Furthermore, Bybit distributed over 1,000 bonus NFT prizes, including valuable CloneX and Mutant Ape Yacht Club NFTs.

The captivating contest has captivated the crypto community once again, demonstrating the resilience of emerging digital markets in times of uncertainty. Over 1,000 traders from 182 regions competed, with Korean titans Maeuknam Team leading the way with 3,241 members, followed by Sniper Squad and Streamer Satto with 2,565 and 2,232 members, respectively.

Winning a trading competition requires creativity and bravery, which is why Bybit extended its partnership with UNICEF with another $400,000 in BTC donation. Bybit is proud to support UNICEF and its work in East Asia and the Pacific to provide equal access to education and empower girls’ education. Furthermore, the grant will be used to improve, scale up, and implement a STEAM (Science, Technology, Engineering, Arts, and Mathematics) education pilot program aimed at girls in a remote mountainous province of Vietnam.