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WOO Network (ETH: $WOO) Surges Nearly 50% In the Past Week

WOO Network Logo

WOO Network (ETH: $WOO) is a blockchain project that aims to connect exchanges, institutions, DeFi platforms, and traders. Its goal is to democratize access to high-liquidity trading at low to no cost. Its native token is WOO, which is used for staking and lowering trading fees. WOO Network has developed numerous products and services built for CeFi, DeFi, retail traders, and institutional traders.

What Makes WOO Network Unique?

The most unique aspect is its low fees and commitment to providing traders with high-quality liquidity. Its premier product is WOO X, a trading platform with zero fees. It also launched WOOFi, a DEX deployed across various DeFi protocols and applications.

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About WOO X

WOO X is a centralized exchange and flagship product of the WOO Network. It launched in 2021 and became the first CEX to launch the Payment for Order Flow PFOF) feature. PFOF is a unique compensation model where brokers get rewards for forwarding orders to various market participants. The model is highly transparent and offers a competitive fee structure for retailers in the crypto market.

WOO X aggregates market depth from major exchanges to achieve high-quality liquidity and sets up an open liquidity pool where multiple market makers, including Kronos Research, can participate.

For institutional clients, WOO Network created WOOX X Institutional. It is a dark pool trading platform where institutional traders can place orders without revealing their moves to the public. WOOX Institutional is also designed to provide above-average liquidity and tight spreads for larger traders, exchanges, wallets, and OTC desks.

WOOFi Swap

WOOFi Swap is a decentralized exchange that utilizes a synthetic Proactive Market Maker (sPMM) model to manage transactions. The model allows the exchange to avoid intermediary control while operating like an order book model utilized on most centralized exchanges. Its goal is to simulate the spread, price, and depth of centralized exchange order books, lowering user swap fees.

WOOFi pools serve as the assets from which traders transact. They are deployed on Polygon and the Binance Smart Chain, with plans to add more blockchains.

The WOO Token

The WOO token is the network’s native token. It first launched on the Ethereum Network. However, cross-chain bridges have enabled it to run on other networks, including Solana, Polygon, Binance Smart Chain, and many others.

WOO tokens are at the heart of trading within the ecosystem. WOO X traders stake WOO to reduce fees on both spot and perpetual futures. Holders of WOO can also place their tokens in earn vaults to enjoy high yields on deposits. In the future, staking WOO could be a requirement to access vaults.

The circulating supply of WOO tokens is 1,780,878,643 WOO, with a total supply of 2,230,434,667 WOO. Initially, the WOO Network had a maximum supply of 3 billion tokens. Due to its deflationary model, the network has reduced the supply via a buyback and burn mode.

WOO Token Price

The WOO token is currently worth $0.367 per token as of December 16. The token had surged to a high of $0.4546 during early trading. However, after some profit-taking, the price has come down to the current level. It is still up 49.82% in the past seven days. Additionally, the price has increased 194.26% in the past 12 months.

The price of WOO tokens peaked on November 16, 2021, at $2.48. Their current price is an 85.08% discount on the ATH. The token’s 24-hour trading volume is $45,134,803. Most of the trading for the tokens is on Binance, Bitrue, and KuCoin, which account for 35.94%, 13.12%, and 5.47%, respectively.

WOO Token Price Prediction

Based on its recent upward trend, some analysts believe WOO tokens could reach a high of $0.92 in the next two years. The technical indicators show that the tokens have been in the green for 16 of the past 30 days with a price volatility of 18%. The tokens’ Fear and Greed Index is 73, firmly in the Greed zone.

Social Media

WOO Network has 13.3k Twitter followers, 3.3k medium followers, 10,542 Telegram members, 22,082 Discord members1.29k YouTube Subscribers, 1.5k Facebook followers, 6k LinkedIn followers, 2,822 Instagram followers, and 182.7k CoinMarketCap followers.

Should You Buy WOO

Kronos Research, a leading venture investment firm in the crypto industry, created the WOO Network. Since its launch, the platform has continued integrating as many partners as possible into the project. Besides that, its products are easy for institutional and retail traders to use. Based on its recent performance and the general trend of the crypto market, now would be an excellent time to add WOO to your portfolio.

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