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Binance, the world’s largest crypto exchange, announced Thursday that it will be conducting a trading competition for BitTorrent (BTT) with 200 million BTT in prizes — worth approximately $200K at present.

According to the announcement, Binance will be running two separate promotions starting Thursday at 7:00 PM (EST) and running until 7:00 PM on February 28 (EST).

The first promotion is related to BTT deposits, where all investors with net deposits over 1,500,000 BTT during the promotion period will split a pool of 50,000,000 BTT. The second promotion will give away 100,000,000 BTT to the top 100 traders based on total trading volume.

Additionally, 50 random Binance users will have a chance to earn 1,000,000 BTT, as long they traded at least 5,000,000 BTT during the promotion period.

Binance’s competition launches days after Huobi Global started its own trading competition with 100 million BTT in prizes.

Binance also recently added PAX, TUSD and USDC trading pairs to join the already available USDT, BNB, and BTC options, offering additional liquidity to the new token.

BTT is currently up over 7% over the last 24 hours to $ 0.001000, giving the token an $89 million market cap.

Related: Huobi Launches $100K BitTorrent (BTT) Trading Competition
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.