Binance Wallet announced on X the commencement of the ST Trading Competition, offering participants the chance to win a share of $200,000 in rewards. The competition introduces a new mechanic called the Early Bird Multiplier, which incentivizes early trading activity. On the first day, trades will receive a 1.8x multiplier, providing a significant boost to participants who engage early. This multiplier is designed to encourage traders to start trading as soon as the competition begins.

Participants can track their trade volume by clicking 'Join' on the Binance App event page. It's important to note that only buy volume will be counted towards the competition, with selling activity excluded from the calculations. This approach aims to focus on buying activity, rewarding those who contribute to the market's liquidity. The competition is structured to engage traders actively and offer substantial rewards to those who participate. With $200,000 worth of rewards available, traders have a significant incentive to join and maximize their trading volume during the event.