A trading tournament is a contest in which participants trade over a fixed period and are ranked on a leaderboard, with prizes for the top performers. Crypto exchanges frequently run them to attract users and promote new tokens or products, and others use simulated money in the style of paper trading. Rankings may be based on percentage return, absolute profit or the total value traded, and prizes range from cash and tokens to fee discounts. Contests that reward the amount traded can encourage excessive trading and inflate an exchange's reported volume, a concern linked to wash trading. Those that reward the highest return encourage risky strategies, including heavy leverage, since entrants have little to lose by gambling for a top spot. Participants trading real money can lose it regardless of prizes, and some regulators view such promotions as inducements to speculation.
Last updated 13 Nov 2026