Tuesday, April 23, 2024
Blockchain

Binance Launches $60,000 Ethereum Promotion Ahead of Major Dencun Upgrade

Ahead of Ethereum’s major Dencun upgrade, Binance has launched a trading promotion with $60,000 in rewards for users who trade ETH and other ecosystem tokens.

Binance has announced a promotion with $60,000 in rewards for trading Ethereum and related tokens ahead of the major Dencun network upgrade. The promotion runs from March 1st to March 13th and has two components – one focused on Ethereum ecosystem spot trading, and another for trading specific low cap assets.

For the first promotion, users who trade a minimum of $3,500 equivalent volume on select Ethereum-based pairs can share a pool of 20,000 FDUSD in token vouchers. The top 1,000 traders by volume will receive rewards, with the 1st place trader getting 2,000 FDUSD. Eligible pairs include ARB/USDT, COTI/USDT, ETH/USDT, IMX/USDT, LRC/USDT, MANTA/USDT, MATIC/USDT, OP/USDT, and STRK/USDT.

The second promotion offers $5 vouchers for trading COTI, FIS, NEAR or QI, up to $20 total for trading all four. Users must trade $100 of each token to be eligible. However, those who already held the assets before March 1st are excluded.

Binance is running this promotion to drive interest and trading activity around the upcoming Ethereum Dencun hard fork upgrade. Dencun implements key improvements like lower gas fees and enhanced scalability. The promotion encourages users to gain exposure to Ethereum and related projects ahead of the major network upgrade.

Major exchanges like Binance frequently run promotions tied to significant crypto events. By offering trading rewards and bonuses, they aim to attract greater user activity. With the Ethereum merge last year and now Dencun upgrade, Binance is capitalizing on the heightened interest.

The exchange outlined full details and terms for eligibility in its announcement. Both new and existing Binance users can participate, with rewards distributed within 21 days after the promotion ends. The vouchers will expire two weeks after distribution if not claimed in time.

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