Woo Network (WOO) Skyrockets!

By KMatt | Blogging Crypto | 20 Dec 2023

Today we analyze WOO, the utility token of Woo Network, a decentralized trading and finance platform, which has grown significantly in recent months, recording impressive increases.


It was born in Singapore in 2021 by Michael Wu, a crypto industry veteran and previous CEO of Huobi Global.
As anticipated, the Woo Network platform offers the Spot Trading service with very low commissions (around 0.03% for spot trades).
It features a wide range of assets including ERC-20, BEP-20 tokens, DeFi and stablecoins, derivatives (including futures, options and contracts for difference CFDs with commissions starting from 0.05%.
The platform currently has deep liquidity which allows users to execute small or large trades without affecting prices.
As for security, it is regulated by FinCEN in the USA and MAS in Singapore.

Technical analysis

The chart confirmed its popularity, forming the ascending triangle, a typical bullish pattern.
*The ascending triangle is formed when prices move sideways between two converging trend lines.
Breaking the triangle in the bullish direction is often a signal of an impending uptrend, just like in the case of WOO which broke the ascending triangle around December 14, 2023.
The price, from around $0.26, quickly reached $0.48, with increases of around 74% in 7 days, 95% in 30 days and 294% in one year.

In conclusion, despite being a "young" platform, it is proving to be promising and with a lot of potential.

As always, price predictions are subjective and should not be considered as investment advice. For those interested in investing, do your research and understand the associated risks


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