Seychelles-based crypto exchange Huobi is looking to put up another trick in its sleeve to boost its operations. The crypto exchange has put up a total prize pool of 1,200,000 GALA tokens for this promotion.
It will run until November 23 and will reward users who trade GALA on the spot market. They’ll receive a share of the prize pool based on their trading volumes. Moreover, users who have sold more than 1,000 GALA tokens will also receive a share of the prize pool. Other than that, the top 50 traders that have spot-traded GALA tokens will also receive a share of the prize pool.
Also, the top five traders in terms of trading volume will receive a total of 240,000 GALA tokens in proportion to their individual trading volume.
Following that, the sixth to twentieth place finishers will receive a total of 320,000 GALA tokens. Post that, twenty-first to fiftieth place finishers will receive 320,000 GALA tokens.
Looking at the GALA token, it is trading at $0.208 as of writing. So, according to this price, the total worth of GALA tokens is right around $247,200. However, that price is expected to change soon given the demand generated because of this promotion. Besides this, the GALA token is witnessing an upsurge lately. The token has grown about 26% in the past 24 hours and has even reached as high as $0.27 at one point.
Besides the prize pool, Huobi is also offering up to 88% APY on GALA through the Huobi Earn program. This is the second promotion for the GALA token, which will last till November 28.