The trading and liquidity platform’s native token surged nearly 58% this week due to the listing of a new perpetual contract.
WOO Network (WOO) is a liquidity platform that offers both a centralized exchange and a decentralized exchange (DEX).
The project’s utility token, WOO, is trading at $0.386 as of this writing, up from $0.245 a week ago. Cryptocurrency assets, ranked 93rd by market capitalization, also rose by more than 23% the previous day.
WOO’s gains were realized when Seychelles-based cryptocurrency exchange BitMEX listed WOO perpetual contracts with up to 10x leverage. Contracts are margined in USDT, the leading stablecoin.
WOO Network also annual report We will inform you of the progress of project development in 2023.
Jake Tan, co-founder of WOO Network, said the project continues to take a “steadfast and unwavering” approach to building after the cryptocurrency market crash in late 2022.
“From launching Multi-MM, the first transparent and real-time balance sheet, to securing WOO Turkey, WOOFI Swap, Orderbook DEX, and multiple VASP (Virtual Asset Service Provider) registrations, our journey has been eventful and diverse. As you can see from our frequent Twitter updates, we’ve been building constantly. “Some projects achieved significant benefits with minimal effort, while others required significant resources but lacked user involvement.”
The project expects its decentralized exchange, WOOFI, to exceed $25 billion in total trading volume next year.
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