Niloofar S.
Niloofar S.
Nov 06, 2021

Is WOO Network A Good Investment In 2022?

tl;drWOO Network started its journey within the crypto space in June 2019 under the branding of Wootrade. It absolutely was founded by the team behind Kronos Research, a number one multi-strategy quantitative trading firm averaging up to $10 billion in daily trading volume on global cryptocurrency exchanges. Traders are incentivized by matching short positions across multiple regions without delay while also involving longs diversifying one's portfolio removed from believing in only one singular region or country alone. Financially, although Nervos Network performed very well over the last year in terms of ROI compared to the cryptocurrency market's average, It has seen a drop recently in market cap and price. CKB's popularity in social media has increased over the last five months.
Is WOO Network A Good Investment  In 2022?
Is WOO Network A Good Investment In 2022?
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Introduction

WOO Network started its journey within the crypto space in June 2019 under the branding of Wootrade. It absolutely was founded by the team behind Kronos Research, a number one multi-strategy quantitative trading firm averaging up to $10 billion in daily trading volume on global cryptocurrency exchanges. Kronos is additionally a chosen Market Maker (DMM) for top exchanges, including Binance, Okex, and Huobi, among others. On its count, credibility is not a difficulty for the WOO community because it is backed by a well-established entity with proven data.

WOO may be a native platform token that unites liquidity providers and seekers into a mutualist financial system, where traders receive better prices because of high volume orders executed faster than they'd on their own.

Traders are incentivized by matching short positions across multiple regions without delay while also involving longs diversifying one's portfolio removed from believing in only one singular region or country alone. By leveraging WOO tokens, the platform incentivizes liquidity providers to compete on prices and spreads for traders instead of placing importance on volume, which might sometimes be fake or manipulative by large market participants like HFT firms with high amounts of capital at their disposal.

What Is the WOO Network (WOO) ECOSYSTEM?

The WOO Network consists of the subsequent products that form the backbone of the Woo ecosystem:

WOO X: WOO Network pitches WOO X as a zero-fee trading venue for retail traders with the best-in-class liquidity and trade execution. It's the flagship CeFi product operating on the broader Woo ecosystem. It packs together a number of the leading market makers within the crypto space with formidable quantitative trading strategies and deep liquidity pools.

Powered by Woo Dark Pools, WOO X offers spot, margin, and futures trading! The team overseeing WOO X seems to own done a reasonably neat job in making it accessible to traders of varied profiles, including retail, professional, and institutional traders. You'll easily customize your trading dashboard with the tools and widgets of your choice, which supplies it a position over any comparable terminal.

WOO token: WOO token is that the native asset within the WOO Network. It's an ERC-20 utility token that glues together the varied components of WOO Network's DeFi and CeFi products and services. The platform has allocated 50% of its revenue generated across its ecosystem to the buyback and burning of the token. WOO Network claims to possess planned these deflationary measures meticulously to confirm consistent demand for the WOO token.

WOO token has the subsequent utilities:

  • Retail staking that users can leverage to unlock zero-fee trading, higher referral rebates, and free withdrawals.
  • Institutional staking enables institutional traders to learn from increased API trading rate limits and a lower fee structure.
  • WOO token also can be accustomed to paying wealth management and margin fee at heavily discounted rates.
  • Token airdrops from WOO Ventures early-stage projects are proportionately distributed among WOO token stakers on WOO X. (more on WOO Ventures within the following segment).
  • WOO token also brings along liquidity provision and yield farming opportunities. The token is embedded in decentralized exchanges on multiple chains (including Uniswap, Bancor, QuickSwap, Sushiswap, and others.)
  • WOO Network also plans on extending the WOO token's utility in other use cases like granting users access to social trading and voting rights on the progressively decentralized WOO Network.

WOO Ventures: WOO Ventures is an integrated program within the WOO ecosystem that democratizes investment opportunities in early-stage crypto projects. Without delving into the technical nitty-gritty, this product functions more or less the identical way capital firms spot and invest in startups. As these crypto projects grow with time, they carry various perks and economic incentives for the WOO Network community. This is often a dependent arrangement for brand new projects because it could potentially bring them a dynamic user base from the WOO Network community. WOO token holders, meanwhile, can stake their tokens to urge airdrops and other benefits from these early-stage projects.

WOOFi: one in all WOO Network's main objective is to continue expanding its liquidity network to the DeFi space. The concept here is to create room for DeFi users to profit from competitive pricing, tight bid-ask spreads, and yielding opportunities. Therefore, the team overseeing the project has grouped all their DeFi related products under the umbrella term of WOOFi. The primary WOOFi product was the on-chain liquidity pools, designed to facilitate optimal trade execution for DeFi users. The platform is additionally reportedly testing its on-chain trading strategies on V3, 0x, dYdX, and Uniswap.

Financial Analysis

WOO Network price today is $1.16 with a 24-hour trading volume of $18,609,339. WOO price has been down -0.7% in the last 24 hours. It has a circulating supply of 560 Million WOO coins and a total supply of 2.99 Billion. At the time of writing this post (November 7, 2021), WOO's Return On Investment (ROI) over the past year was 3,723%, exceeded in 'Centralized Exchange Token (CEX), Polygon Ecosystem, Exchange-based Tokens' categories which had 713% growth over the past year. It underperformed in the crypto market, which had 34826% growth over the past year.

Another critical factor in the success of any project is gaining public attention. Our data shows that WOO's Twitter account saw a growth of 34% over the last months in the number of followers, which is considerable.

Over the last five months, WOO's Market Capitalization rank followed an overall increasing trend, starting at 163-158 on Aug-Sep 2021, reaching 148 in Oct 2021. However, by writing this post, WOO's market cap rank is about 161, and its value is $665,354,161 Million. Moreover, its liquidity score is 50% above the market's average score, making it relatively easier to sell in bear markets.

Is WOO Network (WOO) the best cryptocurrency to invest in?

We are here to help you make smarter financial decisions by freeing up your intelligence through making it easy to compare thousands of coins. We do all the hard work for you and help you remove emotions from your decisions. However, making an investment decision requires considering your own financial situation and comparing your investment options.

At Cryptologist, we provide all the data you need to help you make the best possible choice. On our website, you can find up-to-date, reliable reports about the cryptocurrency market, particularly NFT projects.

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