KuCoin has announced the launch of a new prediction challenge focused on popular cryptocurrencies, including XRP, BTC, ETH, and SOL. Participants will have the opportunity to win a share of a $30,000 prize pool.
In a recent post, the leading exchange revealed the details of the prediction challenge. The contest involves predicting which coin, out of ROOT, BTC, ETH, SOL, or XRP, will experience the most significant price gains. Correct guesses will have a chance to dip into the daily $5,000 pool, while the grand prize will award those who make the most accurate predictions with a slice of $10,000.
The challenge will consist of four rounds, each lasting 24 hours. The coins will be pitted against each other to determine the best performer for each day. The rounds will take place between April 5 and April 8. The total prize pool for the challenge is $30,000.
To participate in the challenge, KuCoin users must meet the minimum daily spot and futures trading volume requirements of at least 200 USDT and 500 USDT, respectively. Users who meet these requirements can predict the best performer for each round and have a chance to win a share of the prize pool. Additionally, users can receive up to 50 votes each day based on their daily accumulated trading volume.
Participants are allowed to vote for only one coin per day, regardless of the number of prediction votes they have. For example, if a user with 25 prediction votes selects XRP as the best performer on a particular day, they cannot vote for ROOT on the same day. Voting is only open between 00:00 and 16:00 (UTC) during the competition period.
Prizes will be allocated based on the number of correct predictions by each user divided by the total number of votes from all users, multiplied by the prize pool. KuCoin will announce the date on which it will distribute the rewards to the winners.
Meanwhile, the broader crypto market has seen a decline in the past day, with all the assets featured in the challenge experiencing slight decreases. XRP is down 2.4% to $0.57, BTC has declined by 0.5% to $66,175, ETH is trading at $3,326 with a 0.5% decrease, SOL has lost 2.8% and is priced at $185.52, while ROOT has dropped by 5.3% and is currently being traded at $0.089.