On July 17, 2022, the World Series of Trading (WSOT), the largest cryptocurrency trading competition in the world, came to a successful conclusion, with traders sharing a record-breaking $8 million prize pool. In spite of the challenging market conditions, the most successful traders managed to amass gains of over 10,000% after 20 days of fierce competition.
To participate in what has become the cryptocurrency trading world’s equivalent of the World Cup, close to 70,000 traders signed up for this year’s competition. These participants were eager to demonstrate their trading prowess at this event. When compared to the event that took place in 2021, there were two times as many people that participated, which resulted in a prize pool that was 100% greater.
Demonstrating Resilience Of The Crypto Market
The total prize money was distributed in accordance with all these three distinct categories. The Solo Race and the Speed Zone Loot events each offered $1 million, while the Squad Race provided a prize pool of $6 million. In addition to this, Bybit distributed additional extra NFT prizes totaling over 1,000, some of which were quite valuable, such as CloneX and Mutant Ape Yacht Club NFTs.
The crypto world has once again been enthralled by the riveting competition, which demonstrates the resiliency of new digital markets in the face of uncertainty. Traders from almost 1,000 different teams representing 182 different regions participated in the competition. The Korean titans, known as 유튜브 매억남(없는)팀, made up the largest team with 3,241 members. Sniper Squad and 스트리머사또_satto came in second and third, respectively, with 2,565 and 2,232 members.
Bybit Continuing To Empower The Community
Trading competitions require both innovation and daring to succeed, which is why Bybit decided to prolong its cooperation with UNICEF by donating another $400,000 worth of Bitcoin to the organization. Bybit is delighted to support UNICEF and the organization’s efforts to ensure that girls in East Asia and the Pacific have equitable access to education and empower themselves through education. In addition, the gift will be utilized to improve, expand, and put into action a STEAM (Science, Technology, Engineering, Arts, and Mathematics) education pilot program that is geared specifically toward young women in a remote mountainous area in Vietnam.
Ben Zhou, co-founder, and CEO of Bybit, noted that this year, they had been blown away by the success of the WSOT, both in terms of the number of people that attended the event as well as the community spirit that was present during the tournament. According to him, the results of this competition highlighted the unshakable faith of cryptocurrency aficionados all around the world; he called it a ray of hope in the midst of the bear market.
After the conclusion of the competitive phase of WSOT 2022, the WSOT Afterparty will commence.
