Bybit launches Miner’s Points Plaza, a $1M prize pool to celebrate Bitcoin halving

Bybit, one of the world’s top three cryptocurrency exchanges, has launched the Miner’s Points Plaza in celebration of the Bitcoin halving. This event, designed as a game, allows users to complete fun tasks, earn points, and mine a prize pool of 2 BTC.

The crypto community is gearing up for the Halving — a pivotal event slashing the creation rate of new bitcoins in half and potentially boosting their value due to scarcity. But what is the Halving? It occurs every four years and has historically been followed by significant price increases for BTC:

⦁ 2012 Halving: Bitcoin price increased from $12 to nearly $1,000 within a year.
⦁ 2016 Halving: While the price initially dipped, it eventually soared to $2,550 by July 2017, marking a 292% increase from the halving day.
⦁ 2020 Halving: Bitcoin price witnessed a surge from $8,787 to its all-time high of nearly $69,000 by November 2021, a staggering 681% increase.

Bybit’s celebratory Miner’s Points Plaza is a game where participants mine BTC and swap their earnings for rewards including the opportunity to seize a share of a $1,000,000 prize pool. Each user will receive a collectible NFT, which they can upgrade by unlocking new levels, culminating in the coveted Queen Katherine level.

The Miner’s Points Plaza kicks off on Mar. 22, 2024, running until Apr. 22, 2024, and winners will have until May 2, 2024, to exchange their points for prizes.

“At Bybit, we don’t just witness history; we create it,” said Ben Zhou, co-founder and CEO of Bybit. “Our trading volume is near all-time highs and users are flocking to take advantage of our products. The Miner’s Points Plaza offers our community the platform to maximize their gains during the Bitcoin Halving, reinforcing our commitment to leading the way in gamified experiences.”

Every entrant is guaranteed a small USDT prize just for showing up, before the real fun begins. The Miner’s Points Plaza gives access to a treasure trove, where participants can win points and exchange them for crypto rewards, including BTC and ETH, on a first-come, first-served basis.