As a sign of celebration of the upcoming Bitcoin halving, the cryptocurrency exchange Binance has launched the NFT game “Word of the day” (WOTD) inviting its users to participate to try to win a share of the 500,000 Binance Points up for grabs.
The game, only available to registered customers on the exchange platform, will last until March 31st and will offer new episodes every day to try to win exclusive prizes, redeemable at the end of the event in the “Rewards Hubs” section.
Let’s see all the details below.
Binance launches the NFT game WOTD and challenges its users
Waiting for Bitcoin’s halving, expected on April 19 at block height 840,000, the cryptocurrency exchange Binance has launched a fun NFT-style game called “Word of the day” (WOTD).
This is an educational word puzzle game, where users have to find the correct word of the day by following some clues, and trying to win a share of the 500,000 Binance Points provided by the platform.
Until March 31 at 23:59 UTC, all registered users on Binance will be able to participate in WOTD up to two times a day and test their general knowledge about the crypto world and blockchain.
The second daily riddle unlocks by clicking on the “Get a new WOTD ” button and sharing one of the articles selected by Binance on social media.
The NFT game works like this: for each word to be guessed there is an initial reference theme to take inspiration from, and a maximum of 6 attempts.
With each attempt (considered valid when a real term present in the vocabulary is tried), the color of the entered letters changes:
- if it’s green, it means that letter is in the right place
- if it is yellow, the indicated letter is in the word, but not in the right position
- if instead it is black, the given letter is not in the word
Example of the game WOTD. Source: X
For each guessed WOTD word, each user earns Binace Points, which can be spent during the Bitcoin halving celebration by redeeming the prizes provided in the “Rewards Hub” section.
Eligible users to claim the prize can receive up to 10 USDT token vouchers and up to 50 trading fee refund vouchers USDT.
Small tip: to guess the correct word it is advisable to read the daily theme-related articles published on the Binance blog, or use third-party “solvers.”
We remind you that new Binance users who register during the NFT game activity period can take advantage of a welcome bonus that includes a 10% discount on spot trading fees, simply by using the referral code “WOTD2024” or through this link.
It is also possible to earn additional welcome rewards by completing the activities available in the reward hub during the first 14 days after registering the account.
Have fun everyone!
Expectations grow for Bitcoin’s halving
While Binance launches its NFT riddle game, all eyes of industry operators are focused on the scheduled date for the fourth halving in Bitcoin’s history.
The long-awaited event of halving the rewards for miners, which will reduce the issuance of new BTC by 50% from the current 6.25 coins per block to 3.125 units, is expected to take place on April 19, 2024 at block height 840,000.
The cryptographic community is in fibrillation for the halving, as historically this mechanism has been good for the price of Bitcoin by incentivizing purchases from the demand.
Technically, this kind of “update” does not affect demand at all, but rather the supply side: in any case, the narrative that has been created over the years ends up creating more attention in the market and encouraging purchases by retail investors.
What is instead reflected in the increase in demand are the newcomers spot ETFs, approved by the US SEC in January, which in just 3 months have already led to a large influx of new investments in digital gold, which has seen over 11 billion dollars in inflows so far.
The introduction of these tools has created a strong hype for Bitcoin, which for the first time since its existence has reached a new historical high just a few months before the halving, reaching 70,000 USD just a few days ago.
In the past, in fact, in the weeks before the halving, the price action of crypto assets has always been generally disappointing, while the best performances usually come a few months later.
The trend of the network’s hashrate is not surprising, as it constantly grows over time, demonstrating the health and security of the cryptographic network.
ATH #Bitcoin Hashrate. UP 25% in the 3 months leading into the halving.
Incredibly bullish.
Miners are investing in expectation of $100K+ #Bitcoin pic.twitter.com/kL0jDnL8w2
— Thomas | heyapollo.com (@thomas_fahrer) March 21, 2024
While waiting for the halving, the general market sentiment seems clearly bullish: US monetary policy for 2024 confirmed as expansive, prospects of interest rate cuts by the FED, large inflows of investment into the crypto market, and an increasingly “diamond hands” attitude from miners and retail investors, all lead us to think that the $100,000 threshold is only a matter of time.
