- Woo Network's crypto token has surged in 2023.
- It has outperformed other DeFi tokens like Uniswap and PancakeSwap.
Woo Network’s WOO token is outperforming traditional DEX tokens like Uniswap (UNI) and PancakeSwap (CAKE). WOO price jas jumped by more than 110% this year while CAKE and UNI have jumped by less than 20%.
Crypto exchange tokens are rising
Woo Network is a small but fast-growing platform that combines both centralized (CEFI) and decentralized exchanges. The platform is known for its zero fees, deep liquidity, and powerful tools that help traders make better decisions.
Woo Network’s DeFi network is based in several blockchains, including Ethereum, Avalanche, BNB Chain, and Fantom among others. Data by DeFi Llama shows that it has a total value locked of over $20 million, with Avalanche and BNB Chain being its biggest network.
Two of the top reasons why people love Woo Network is its low fees and its transparency ratios. Its reserve ratio, which is calculated by dividing total assets and liabilities is 111.3% while the custody ratio is 89.3%. Excluding the Woo Token, the two ratios stand at 121.5% and 75.5%, respectively.
Read more: How to buy Uniswap token.
There are several reasons why WOO price has jumped is its growing market share in the crypto industry. Data shown in its website shows that it has a combined volume of over $312 million in the past 24 hours. During this time, it has handled over 137,518 transactions.
The other reason why it is jumping is that investors anticipate more volumes in the coming months as cryptocurrencies jump. Ethereum has jumped to over $2,000 while Bitcoin has remained comfortable above $30,000. In most periods, CEX and DEX exchanges tend to see higher volume when cryptocurrencies are jumping.
A likely reason why Woo Network’s token is doing better than Uniswap and PancakeSwap is its hybrid model that combines CEX and DEX.
WOO price prediction
The 4H chart shows that the Woo Network price has been in a strong bullish trend in the past few months. It has moved above the important resistance level at $0.2391, the highest point on April 4 of this year. The token has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) haas moved to the overbought level.
Therefore, there is a likelihood that the WOO price will continue rising as buyers target the key resistance level at $0.30, which is about 17% above the current level.
