Why are Exchanges promoting Trading competitions?

[ginobitcoiner]

why do new exchangers do some trade competition on their exchanger?
Of course the answer is that traders are interested in trading on their exchangers.
more and more people are trading and depositing and withdrawing, so the exchanger will get more profits

[1715114151]

1715114151

[1715114151]

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[xuan87]

The correct way to make crypto grow is by using it, it can be trading or doing transaction,holding for long term is not going to make crypto grow, it's going to make the crypto survive, and the reason exchanges make competition is to advertise their site, but it's good for the crypto and the exchanges, so I support the idea of this trading competition

[michellee]

The exchanges want to increase their daily or monthly trade volume so they are sometimes making competition for their members and they will give rewards in the form of tokens so indirectly; they help the tokens to survive for the future.
And with the competitions, they also give hope to the traders to hold the token for a long time because the price will increase higher than now.
The effect for the community and the project developers is they can face whatever happens in the market, and they can survive because of help from the exchanges.
But maybe I am wrong because I don't know what exactly their reason to do that.

[Ewinsane]

The correct way to make crypto grow is by using it, it can be trading or doing transaction,holding for long term is not going to make crypto grow, it's going to make the crypto survive, and the reason exchanges make competition is to advertise their site, but it's good for the crypto and the exchanges, so I support the idea of this trading competition

How you are saying that holding for long term is not going to make crypto grow ? Because as far as I am concerned, when you are holding one particular crypto, the chances for people to dump it will be very less. When more number of people are adopting then obviously that crypto will be having big price levels over the time because everyone is investing and holding and no one will be there to dump it. This is the basic understanding of myself why people are suggesting to go for holding but you are saying completely a different thing.

I am also in support of having trading competition because I will be getting chances to win but I'm finding this will NOT be helping crypto but definitely it will help the exchange to be promoted among traders because many traders like myself will be looking for such competition so that we can prove ourselves along with chances of gaining bonus.

[Akoldi_ibk]

Exchanges promoting Trading competitions to me is more like a business strategy employed by those exchanges. A lot of transaction/withdrawal/deposit fees will be in for the exchange. Trading volume will be boosted and so much more to be benefited by the exchange. The token used during the competition tends to gain more popularity and in the process been exposed to potential investors given the competition is on a big and trusted exchange. I think it will be a win-win for both the exchange and the token project. Trading competition is not a bad concept.