• WOO Network price fell double digits on Sunday due to the weak crypto market.
• WOO is the native token of a blockchain-based decentralised finance and centralised finance platform.
• According to a crypto trader and analyst, WOO could decline to $0.20.
WOO Network Price Falls as Crypto Market Weakens
The price of WOO Network saw decreased activity on Sunday as it declined double digits along with other major cryptocurrencies in the market. At the time of writing, WOO was trading around $0.24, more than 10% down in the past 24 hours and nearly 26% down in the past 7 days. Bitcoin had broken below major support at $27,800 to hover near $27,400.
What is WOO?
WOO is the native token of WOO Network, a blockchain-based decentralised finance (DeFi) and centralised finance (CeFi) platform that offers users access to zero fee trades on its CEX platform dubbed WOO X while its DEX platform WOOFi offers cross-chain swaps and single-sided yields. The circulating supply of 1.7 billion tokens are tradeable on Binance which has seen increased daily volume as sell-off mounted with over $55 million traded as of 4pm ET on Sunday, more than $19 million of which being in the pair WOO/USDT on Binance.
Price Prediction for WOO
Crypto trader and analyst TraderSZ has shared their technical set up for the cryptocurrency predicting that bears might extend their push to last week’s low due to an invalidation above trendline from weekly chart data analysis.
The crypto market continues to remain volatile with prices fluctuating heavily across different platforms depending on demand and supply dynamics across markets worldwide; investors should exercise caution when investing in cryptocurrencies such as WOONetwork as any sudden shift can lead to drastic losses within short periods of time due to high volatility in these assets class types .
Overall, despite seeing double digit declines recently ,WOONetwork seems poised for further adoption given its CEX and DEX features which offer users access various features like cross chain swap s , single sided yields , zero fee trades etc . Investors should keep an eye out for any future developments or news related announcements concerning this asset before making any decisions regarding investing in it .