A brand-new contest to find the ultimate trading masters, has been launched by a Crypto Exchange.

Rising incrementally from 5,000 USDT depending on how many participants decide to get involved, Bityard, which is based in Singapore, says a maximum price pool of up to 60,000 USDT is up for grabs.

As they put strategies through their paces in the choppy crypto markets, Competitors have the chance to band together in teams.

Also, with 20% earmarked for the group in second place, and 10% for those who come in third, the team that comes in first place will share 30% of the total prize pool between them. The remaining 40% will be divided between those who rank in positions four to ten.

Other opportunities can be found through the Team Popularity Award, with Tron prizes available for groups with the highest number of members.

Statistics about the current size of the prize pool — along with the number of participants and the state of play across each team — are updated every two hours, allowing crypto enthusiasts to keep track of how the contest is progressing.

According to Bityard, contests are a powerful way of bringing communities together. It points to Bybit, which recently attracted more than 12,000 global traders when it held its global game — World Series of Trading.