Name: Woonkly
SKU: WOOP
Price: 0.000213725066 USD

<p>Woonkly Power (WOOP) is an NFT Marketplace that has a focus on Decentralized Social Media. It aims to be a number-one platform for providing all the utilities that NFT creators need, including creating NFT collections, buying, selling and trading. Its overall mission is to provide a way to monetize and socialize with the use of NFTs in a decentralized way. It also has a focus on the metaverse and bridging the gap between it and the non-digital world.</p><p>WOOP is the project’s native cryptocurrency and has a total supply of 1,000,000,000. It is a utility token that was created on the BNB Chain.</p><h3>What are Woonkly Power’s key features and how does it work?</h3><p>Since the platform is centred around NFTs, naturally many of its products are targeted toward easing the process of creating NFTs and handling them in general.&nbsp;</p><p>For example, creators can easily create a collection of NFTs without requiring any knowledge of coding, which is often required on other NFT dedicated platforms. NFTs can be created in bulk, with layers, as well as a project landing page can be minted directly via Woonkly. Whitelist and sales can also be organized and carried out on the Woonkly platform, including private rounds and early mintings.&nbsp;</p><p>All types of Woonkly users can benefit from the convenient management and organization tools available on the platform. For brands and businesses, this translates as a dedicated company page with VAT numbers, invoices, and traceability. For metaverse projects and uses, items can be easily managed and/or created in just a few clicks.</p><h3>What is noteworthy about Woonkly Power?</h3><p>The platform allows a variety of NFT types to be created: music, games, metaverse, art, and formation collections can all be created using the platform. This has the potential to suit a lot of different use cases across a variety of sectors. For example, Music collections can be made to have multiple licenses and royalties. Metaverse collections can be created for any type of asset used in the metaverse, such as land, cars, buildings, and more.</p><p>The platform features some competitive advantages for collection creators and NFT users.&nbsp;</p><h3>What can WOOP be used for?</h3><ul><li>The WOOP token is primarily a utility token, as such, it has the following use cases:</li><li>Receiving 50% discounts on commissions of NFT purchases and sales on the woonkly.com website.</li><li>Taking part in the Woonkly Gallery House and the Woonkly Creators House.</li><li>Distributed to users as Staking reward.</li></ul><h3>Where can you buy WOOP?</h3><p>WOOP is available for trading on the following CEXs and DEXs listed <a href="https://cryptorank.io/price/woonkly-power/exchanges" rel="noopener noreferrer" target="_blank">here</a>. Some of the most popular platforms with the highest liquidity are Gate.io, KuCoin and Pancake Swap. The price of WOOP will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for WOOP market price, please view the price charts on this page.</p>

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Woonkly Power is an all-encompassing NFT platform where users can create, manage, and trade NFT collections using the Woonkly toolsets

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Bitcoin halving is an event that reduces the rewards that miners receive for validating and adding new transactions to the blockchain by half and it occurs approximately every four years in the Bitcoin blockchain. This mechanism is designed to control the issuance of new bitcoins, limit the supply, and maintain Bitcoin's scarcity and value over time.

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Halvings reduce bitcoin creation rate, slowing down emission temps over time. This leads to curbing inflation. Decreased block rewards make miners rely more on transaction fees, potentially leading to higher fees and a self-sustaining network. Scarcity often drives up prices, attracting investors seeking hedging against inflation, impacting Bitcoin's economic dynamics. That’s why Bitcoin is often called “Store of Value”.

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Fear & Greed Index indicates the current market sentiment. There are 4 possible ranges: Extreme Greed, Greed, Fear, and Extreme Fear.<li>Greed means that traders and investors feel too greedy. This may indicate that the market is due for a correction.</li><li>Fear means that traders and investors are too worried, close to panic sells. This could indicate a good entry point.</li>It is also important to analyze how FGI changed over the period of time, for example in one day, week, or month.

The Fear and Greed Index (FGI) is a comprehensive tool for analyzing cryptocurrency sentiment. It is based on several important market indicators to determine the level of fear or greed present, with a range of 0 to 100.

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We are assessing Bitcoin's volatility and maximum drawdowns, comparing these metrics with the average values from the past 30 and 90 days. We suggest that an abnormal increase in volatility signals a market driven by fear.

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A coin’s dominance represents its share of the total crypto market capitalization. For Bitcoin, an increase in dominance often stems from a flight to safety, reducing speculative investments in alt-coins as Bitcoin becomes the preferred safe haven in the crypto space. Conversely, a decrease in Bitcoin dominance suggests growing greed, as investors move into riskier alt-coins anticipating the next major bull run. For other coins, increasing dominance can imply a bullish or greedy sentiment specific to that coin.

We analyze Google Trends data for various Bitcoin-related search queries, focusing on changes in search volumes and identifying other currently popular searches.

The Crypto Fear and Greed Index is meticulously calculated based on a comprehensive analysis of multiple key metrics that gauge investor sentiment within the cryptocurrency market, such as the following.

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Latest Bitcoin Halving News

There have been three Bitcoin halvings since the launch of the Bitcoin blockchain. These previous halvings occurred in the following years:{br}{br}<b>First Halving</b>: November 28, 2012; the block reward was reduced from 50 BTC per block to 25 BTC per block.{br}{br}<b>Second Halving</b>: July 9, 2016; the block reward was reduced from 25 BTC per block to 12.5 BTC per block.{br}{br}<b>Third Halving</b>: May 11, 2020; the block reward was reduced from 12.5 BTC per block to 6.25 BTC per block.{br}{br}<b>Fourth Halving</b>: April 20, 2024; the block reward was reduced from 6.25 BTC per block to 3.125 BTC per block.

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The Bitcoin halving event, which is a process that reduces the reward for mining new Bitcoin blocks in half, has significant implications for miners, investors, traders, and users of the Bitcoin blockchain. These implications can be observed in both the short term and the long term. Let's explore some of the key implications in more detail:

How Does Bitcoin Halving Affect The Price of Bitcoin?

Bitcoin halving occurs to control the issuance of new bitcoins and ensure the cryptocurrency's scarcity. Bitcoin's protocol limits the rate at which new bitcoins are created, gradually slowing down the growth of its total supply. This deliberate scarcity is designed to mimic the scarcity and controlled supply of precious commodities like gold, making Bitcoin an attractive store of value and a hedge against inflation.

How Does Bitcoin Halving Work?

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Bitcoin halvings reinforce its reputation as a long-term investment by reducing the rate of supply issuance, making it scarcer over time. This scarcity, coupled with the network's growing adoption and utility, can enhance Bitcoin's appeal as a store of value and a hedge against inflation, attracting long-term investors.

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Bitcoin halvings directly impact miners by reducing their block rewards, cutting their income in half. This event can lead to increased competition and pressure on less efficient miners, potentially forcing some to exit the mining ecosystem while incentivizing more efficient operations and technological advancements.

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Mining difficulty is a measure of how much computing power it is required to mine new blocks in a blockchain network. It adjusts regularly to maintain a consistent rate of block production. When more miners join the network, the difficulty increases; when miners leave, it decreases.{br}{br}Hashrate, on the other hand, represents the computational power of the network's miners. It measures how many calculations a network can perform per second. A higher hashrate indicates a more secure and competitive network, as miners with more computational power are more likely to mine new blocks and receive rewards.

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Bitcoin halvings can influence the hash rate and network security by potentially leading to fluctuations in miners' profitability. If the price doesn't rise significantly to compensate for the reduced block rewards, some miners may leave the network, temporarily lowering the hash rate and potentially making the network more vulnerable to attacks until the difficulty adjusts.

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The next Bitcoin halving is expected to occur in March 2028, when the block height number hits 1,050,000. After that, the next block’s reward will be halved: 1.5625 BTC instead of 3.125 BTC.

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Bitcoin halvings can increase price volatility because they create uncertainty about future supply reductions. The expectation of reduced issuance can attract speculative trading and result in price fluctuations as market participants respond to changing supply dynamics. This can lead to both upward and downward price swings before and after halving events.

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The key to Bitcoin's long-term success lies in its Proof-of-Work consensus mechanism within a peer-to-peer environment. This mechanism operates independent of external inputs like clock readings. Proof of Work is based on a fundamental truth: computation requires work, and work requires energy and time in our universe.{br}{br}Difficulty adjustments are necessary to prevent Bitcoin's internal clock from speeding up due to increased miner participation or improved mining devices. Without these adjustments, the value of Bitcoin would quickly decline.

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Bitcoin's maximum supply is capped at 21 million Bitcoins. This limit is hard-coded into the Bitcoin protocol and cannot be changed without overwhelming consensus from the network's participants. The maximum supply of 21 million bitcoins will be reached around the year 2140, when the last bitcoin will be mined.

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Bitcoin halvings reinforce the scarcity of supply by reducing the rate at which new bitcoins are created. This controlled reduction in issuance over time maintains and strengthens Bitcoin's inherent scarcity, ultimately enhancing its appeal as a store of value.

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Bitcoin operates on its own internal rhythm, characterized by a low frequency that allows for a sufficient buffer to delay communication between participants during the block validation process. Approximately every 2016 blocks, Bitcoin's internal clock is reset, resulting in an average block discovery rate of one valid block every 10 minutes.

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Market sentiment is very bearish, many assets may be undervalued.

Extreme fear

Market sentiment is very bullish, many assets may be overpriced.

Extreme greed

Market sentiment is moderately bearish, traders are taking less risk.

Fear

Market sentiment is moderately bullish, traders are taking more risk.

Greed

Neutral

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