Source: Cointelegraph Original: "{title}"

This week, Gate.io officially launched the seventh World Cryptocurrency Trading Competition (WCTC S7). This edition of the competition is themed around F1, aiming to interpret the platform's trading philosophy of speed, precision, and stability. According to Gate.io's latest data, within 48 hours of opening registration on April 15, the number of participating users exceeded 10,000, unlocking a prize pool of $140,000.

Since its first event in 2019, WCTC has rapidly grown to become one of the largest and longest-running trading competitions in the cryptocurrency industry. In 2024, the WCTC S6 season attracted over 90,000 participants globally, setting a historical record, competing for a prize pool of up to $5 million. From just over 4,000 registrants in the first edition to more than 90,000 registrants, the exponential growth in the number of participants over six editions highlights the cryptocurrency community's strong interest in platforms that offer both high rewards and a spirit of collaboration.

Gate.io hopes to further ignite global trading enthusiasm in the S7 season of 2025, promising a prize pool of up to $5 million, along with surprise red envelopes, sports cars, and other rewards.

Trading Competition Status of Some Exchanges

| Exchange | Trading Competition | Highest Prize Pool Amount | Participation Criteria | |-----------|---------------------|---------------------------|------------------------| | Gate.io | WCTC | $5 million | Existing users must have a total account asset of no less than $100 or a cumulative trading volume of no less than $500 in the past six months. New registered users (registered during the competition): complete any amount of recharge to participate. | | Bybit | WSOT | $10 million | Anyone with a net asset of at least 500 USDT can participate. | | Bitget | KCGI | $5 million | At least 100 USDT in the account. |

Trading competitions, the "accelerator" for platform growth

From Gate.io's WCTC to Bybit's WSOT, and to various contract competitions launched irregularly by OKX and Bitget, the "trading competition craze" among cryptocurrency trading platforms is heating up.

On the surface, trading competitions appear to be a contest of "technical skills." In essence, they serve as a catalyst for platforms to enhance user activity and trading volume. Unlike natural growth, trading competitions often boost user trading frequency in a short period, especially in contract trading and high-leverage products, becoming a powerful tool for increasing user activity in a short cycle.

Natural ignition points for community operations

Some platforms introduce team battles, point battles, and other mechanisms during trading competitions to encourage users to form teams, invite each other, and expand their reach. This also gives trading competitions a strong social dissemination attribute, becoming a lever for user growth.

In addition to the trading behavior itself, trading competitions are often accompanied by strong operational investments. Whether it's Telegram groups, KOL teams, or team PKs… various community dissemination methods come into play. For platforms, trading competitions are an opportunity to build a "sense of community belonging" and a concentrated explosion of brand voice.

From short-term user acquisition to long-term brand assets

As the cryptocurrency industry gradually matures, the positioning of trading competitions is also changing. From initially pursuing traffic and trading volume, they have gradually evolved into a part of the platform's brand strategy. Whether it's Gate.io's WCTC or Bybit's WSOT, both have been held for many years and have gradually developed their own IP characteristics, no longer just "holding a competition."

Behind trading competitions is the competition of platform ecosystems

Trading competitions are about competing for trading volume, but in reality, they are a comprehensive contest between exchanges for user attention, brand loyalty, and ecosystem development. In an era where trading tools are becoming increasingly homogeneous and product functions are approaching each other, how to activate users in a more diverse and immersive way has become the core proposition for trading platforms in the next stage.

And trading competitions are becoming one of the most eye-catching ways in this game.

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