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Bitfinex has gone live with a new leaderboard for traders to compete and publicly verify their crypto trading gains.
Traders who decide to opt into the public leaderboard will be able to chart their trading performance on any trading pair listed in Bitfinex—and compare their trading statistics with rival traders.
Having such a leaderboard is not uncommon amongst crypto exchanges. In fact, the leading Bitcoin futures exchange today, BitMEX—has had a leaderboard for many years that displays the top 25 traders by both ROE (return on exchange) and also the notional profits in Bitcoin.
On the BitMEX leaderboard, users are however unable to filter by time frame—with the leaderboard acting more like an all-time greatness list—rather than who is doing the best over a period of time or a certain market.
Unlike BitMEX, Bitfinex’s leaderboard will have a number of categories that are available to toggle. These include both time (3 hours, 7 days and 30 days), a user's trading volume, and trading profits in USD.
Just last week, Bitfinex went live with a new set of 100x leverage Bitcoin and Ethereum derivative markets.
With high leverage now available, and an interactive list for traders to showcase their skills—we hope that traders don’t get too carried away in volatile crypto markets. If they do, they may end up with their names at the wrong end of the leaderboard.