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WOO blasts higher by 6% in volatile crypto markets

USDT depegged to the upside2 1

The WOO network token, WOO increased by 6.15% to $0.2984, making it a top mover on April 27, with a total trading volume in the last 24 hours of $77,236,686.

The network, which includes a system of centralized finance (CeFi) and decentralized finance (DeFi), has since gained popularity with recent news highlighting its outperformance of CAKE and UNI earlier this year.

WOO blasts higher by 6% in volatile crypto markets - 1
WOO token 24-hiour performance | Source: CoinMarketCap

A low cost alternative

WOO network is quickly gaining recognition as a one-of-a-kind project within the cryptocurrency space. Its system of centralized finance (CeFi) and decentralized finance (DeFi) services is designed to provide deeper liquidity to cryptocurrency market participants.

The project’s focus on blockchain technology is a significant aspect that the company markets as a distinguishing factor it from its peers in the space.

By utilizing this technology, the network’s infrastructure can provide traders, exchanges, institutions and DeFi platforms with greater market liquidity and faster trading execution at zero or low cost.

WOO network has since shown steady growth over the last three month periods, with recent price fluctuations pushing the value above $0.32.

WOO moves to zkSync Era

Around the same time of the latest price rally, WOO network has shared an announcement that their DeFi traders can no gain access to WOOfi’s best pricing on ethereum scaling solution zkSync Era.

zkSync Era uses zero-knowledge proofs to verify transactions without revealing data, thereby enhancing the speed and cost-effectiveness of transactions. The layer 2 protocol bundles transactions together, scaling ethereum and providing users with a similar experience as using ethereum but with allegedly faster speeds and lower fees.

In their announcement, WOOfi shares plans to leverage its capital-efficient sPMM v2 liquidity to offer its price execution to zkSync Era immediately. Although data is not conclusive as to whether this announcement has impacted the most recent price rally, WOO, has been in a number of news reports as a top mover in the last few weeks.

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