The cryptocurrency world continues to excite investors with its dynamic structure and rapidly evolving projects. WOO Network (WOO), one of the ones that best reflects this dynamism, is making a name for itself. Drawing attention with its striking increase in value in the last week, WOO recorded a growth of more than 63% in the altcoin market, rising from $ 0.27 to $ 0.41.
An important development behind WOO’s rapid rise was the Seychelles-based crypto exchange BitMEX’s listing of WOO perpetual contracts with up to 10 times leverage. This listing is made with margin in USDT, the most popular stablecoin, which allows WOO to engage with a wider user base.
WOO Network also published an annual report detailing the project’s vision and strategic goals for 2023. This report provides important information including WOO’s future steps and the project’s growth strategies. Investors and industry followers carefully study this report to understand the project’s plans and evaluate its future potential.
Jake Tan, co-founder of WOO Network, emphasized the project’s resilience to the fluctuations in the crypto market in late 2022 and stated that they adopted a “determined and unshakable” development approach.
“As our frequent Twitter updates show, we are constantly improving. “While some projects provided significant benefits with minimal effort, others required significant resources but fell short on user involvement.”
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The project predicts that the total trading volume of the decentralized exchange WOOFI next year will be more than $25 billion.
A remarkable whale with this rise in altcoin price process was also detected. According to data provided by the on-chain analysis platform called Lookonchain, on December 14, a whale with the “0xAc226” wallet purchased 11.24 million WOO worth $ 4.2 million through the cryptocurrency exchange giant Binance. This large transaction spread rapidly within the cryptocurrency community, once again demonstrating the power of WOO in the market.
In the analyzed whale wallet, a portfolio that is not limited to just the WOO balance stands out. In addition to WOO, the whale’s wallet contains 6.9 Ethereum (ETH) worth $15,700. This highlights the whale’s diversification of its crypto holdings and its confidence in not just WOO but the overall potential in the crypto market.
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