Binance, a top cryptocurrency exchange, has introduced a new theme for its educational "Word of the Day" (WOTD) game. This initiative aims to enhance users' understanding of crypto terms and keep them updated on market trends.

The WOTD game, running from May 20 to May 26, 2024, gives participants a chance to win a share of 500,000 Binance Points. These points can be used to redeem various rewards tailored for the event. Following the announcement, Binance Coin (BNB) experienced a 1.24% increase in value within one hour.

How to Join the 'Word of the Day' Game?

Eligible Binance users can participate in the WOTD game twice a day, with this week's theme centered on Decentralized Applications (DApps). To qualify for rewards, players must correctly answer at least five questions during the week.

Participants who succeed will split the 500,000 Binance Points equally. These points can be exchanged for rewards such as vouchers worth up to 10 USDT and trading fee rebates up to 50 USDT at Binance’s Rewards Hub.

To play, users must log into their Binance account. After completing the first game, they can unlock a second by clicking “Get A New WOTD” and sharing an article on social media, which must be clicked by a third party. This promotes user engagement and spreads crypto educational content.

Special Offers for New Users

New users who sign up during the activity period with the referral code “WOTD2024” or through a referral link will get a 10% discount on spot trading fees. Additional welcome rewards can be earned by completing tasks within the first 14 days of registration, accessible through the Rewards Hub.

Understanding Binance Points

Binance Points are part of the exchange’s loyalty program, allowing users to earn points by participating in activities and tasks. These points can be redeemed for various rewards in the Rewards Shop but will expire at the end of the following month if not used.

Participation in the WOTD game is subject to Binance’s Activity Terms and other policies. The game may not be available in all regions, and only verified users from eligible areas can participate. Binance reserves the right to disqualify participants found engaging in dishonest practices and can amend or cancel the activity without prior notice.

BNB Price Update

After the recent rebound, the price of BNB dropped by 0.45% to $575.82 as of Monday, May 20. Despite a market valuation of $84.98 billion, BNB's trading volume increased by 5.82% to $1.40 billion. Earlier, BNB reached a peak of $580.99 but has shown weak performance recently, with a monthly gain of less than 3% and a weekly loss of over 3%, indicating it is testing crucial support levels.

In conclusion, Binance’s WOTD game is a fun way to learn about cryptocurrencies while earning rewards. Despite some fluctuations, BNB continues to be a significant player in the crypto market.