One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
Exchanges promote trading competition just for one major reason which is profitability to the said exchange. I have participated in some on these competition and won with little or no efforts but many competitors which were not skillful enough in trading lost all their deposit in the exchange which make the exchanges gain as they loose.
The more reason why they embark on trade competition is also for the exchanges to advertise their token to investor for investment.