OKX Celebrates Bitcoin Halving with Trading Competitions

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In the crypto world, the Bitcoin ‘halving’ is a holiday. Occurring every 210,000 blocks (which is usually about once every four years), the halving cuts the rewards miners receive for mining Bitcoin transactions in half.

The halving event this April will reduce the Bitcoin reward per block from 6.25 to 3.125 BTC. As each halving event makes Bitcoin scarcer, it has historically foreshadowed bull markets and is widely anticipated in the space.

To celebrate the upcoming halving that is expected around April 20th this year, top crypto exchange OKX is giving back to users with two competitions featuring a prize pool of over 10 BTC. Registration has already begun for “The Ultimate Bitcoin Rush,” a crypto trading competition, and the ‘OKX Web3 Bitcoin Drop,’ a Web3 engagement campaign.

The Ultimate Bitcoin Rush, which will run from April 8th to 26th, is a CeFi trading competition open to individuals and teams. The top 20 teams will be rewarded based on their team’s profit percentage, and 15 individual traders will also receive rewards from a share of a 10 BTC prize pool.

The OKX Web3 Bitcoin Drop is a Web3 engagement and educational campaign that will reward one lucky user with 1 BTC. To participate, users must hold 0.0005 or more BTC, register on the site, transact at least once on OKX Wallet, and follow OKX Web3 on Twitter. There are also more complicated tasks including trading Atomicals or Ordinals on OKX and conducting a cross-chain swap for BTC on the OKX DEX aggregator.

Lennix Lai, the Chief Commercial Officer at OKX, said he was excited about the upcoming launch and that he thinks the Bitcoin halving is the right moment to reach out to the community, and to “reward our top traders and Web3 users.” During past Bitcoin halvings, OKX partnered with other Bitcoin ecosystem projects like BOB, Merlin Chain, and BounceBit for events.

Top Exchanges Battle for Position

For Web3 natives and traders who want to acquire more Bitcoin, the upcoming competitions from OKX to commemorate the Bitcoin halving might be worth a try. Especially for confident traders. But OKX isn’t the only top crypto marketplace that has been launching new projects to give back to its community.

Although marketing from the top crypto exchanges has been more subtle than in recent bull markets, the biggest names in the space are continuing to innovate. At Rarity Sniper, we’ve covered several stories about top exchanges recently. Here are some of the headlines from Coinbase, Kraken, and Binance:

• February 2024. Coinbase Partners with Ledger for Direct Crypto Purchases
• January 2024. Coinbase Unveils New AI-Driven ‘Instamint’ NFT Creation Tool
• December 2023. Kraken Teams Up with DeGod’s Dust Labs for Art Basel in Miami
• October 2023. Formula 1 Racers Unveil their Kraken NFTs
• November 2023. Binance Rolls Self-Custody Web3 Wallet with MPC Tech
• July 2023. Binance Releases AI-Powered NFT Generator ‘Bixel’

We’ll have to wait to see if the upcoming competitions from OKX are popular with users. But considering they’ll give a few lucky traders and Web3 fans a chance to stack more Bitcoin before the halving, we think there’s a good chance they will be.