Mubite Launches "Crypto Wars": Free Trading Tournament with $1 Million in Prizes

Mubite has announced the launch of "Crypto Wars," a seven-day trading competition designed for traders to showcase their skills in the cryptocurrency market without capital risk. Participants will receive a $100,000 simulated account to trade via the Cleo platform, competing for a total prize pool valued at over $1,000,000 in challenge accounts.

Tournament Structure and Rules

The competition focuses exclusively on maximizing PNL (Profit & Loss) over the one-week period. Unlike standard evaluations, this tournament does not require reaching a specific profit target or meeting a minimum number of trading days. However, strict risk management parameters remain in place:

• Daily Drawdown: 5% ($5,000).
• Total Drawdown: 10% ($10,000).

Prize Distribution

The tournament will reward the top 100 ranked traders and offer additional opportunities through giveaways. The main prizes consist of "Mubite 2-Step Challenge" accounts:

• 1st Place: $200,000 account.
• 2nd Place: $150,000 account.
• 3rd Place: $100,000 account.
• 4th and 5th Place: $50,000 accounts.
• 6th to 10th Place: $25,000 accounts.

Traders ranking between 11th and 50th will also receive smaller challenge accounts ($10,000 and $5,000), while all other participants will earn Mubite Points.

Giveaways and Social Tasks

Additionally, the firm has launched a Gleam campaign where users can complete social media tasks to enter 10 random draws for $10,000 challenge accounts each. Registration for the tournament is free, and accounts will automatically unlock for trading on September 14th.