Woo Network has been one of the well-performing cryptocurrencies during the daily timeframe as the token surged upwards. The cryptocurrency started off on an uptrend during December; however, the bulls have picked up for the token as a surge is being recorded. At the time of writing, WOO token stands at a price level of $1.17. The cryptocurrency has increased by nearly 10% during the past twenty-four hours while the weekly performance shows an increase of 30%. The daily trading volume has also increased by 25%. The upcoming days will prove to be crucial for the token as the sustenance of the bullish momentum would indicate positive developments unfolding.
Recent Developments
The surge to the cryptocurrency comes as Woo Network disclosed that the network has raised $12 million in Series A+ round right after it secured $30 million in capital raise in November. The Series A round was supported majorly by Binance Labs. As Binance is one of the most popular names in the cryptocurrency industry, support from it has resulted in a phenomenal boost for the network. Binance Labs will now be supporting the expansion as well as research and development of the network. The marketing vice president, Ben Yorke, regards this step as monumental in the success and further growth of the network. Yorke also believes Binance’s support will propel the network upwards in 2022.
A lot of other developments have taken place during December which gives the network a bullish outlook for the new year. Woo Network is now available on Android – adding to its scope of users with the already existing iOS compatibility. Moreover, the network has also expanded its scope by adding popular token like Ren, Gala, LRC and PSP to its zero-fee trading segment. Avalanche is also available on the network now – further boosting its userbase to cover most major cryptocurrencies.
Woo Network – Future outlook
Apart from the ecosystem growth, Woo Network has also had major developments of the protocol recently. The network has added auto-compound staking, indicators for open price and pending orders and so much more. The cryptocurrency can be expected to surge upwards during 2022 amidst the developments. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $2.09 in a year’s time while the five-year projection places it at $3.06.
