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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Little-Known Crypto WOO Outshines DEX Tokens With Surprise 32% Spike

Christian Encila
Christian Encila
2 years ago
3 mins read
crypto

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Woo Network’s WOO token is making waves in the world of crypto and decentralized exchanges (DEX), outshining traditional DEX tokens such as Uniswap (UNI) and PancakeSwap (CAKE). 

DEX tokens are cryptocurrencies that facilitate the exchange of digital assets on a decentralized platform, removing the need for intermediaries like centralized exchanges.

With the rise of decentralized finance (DeFi), DEX tokens have become increasingly popular, offering users a more secure and transparent way to trade cryptocurrencies. 

Despite the fierce competition in the DEX market, Woo Network’s WOO token has emerged as a strong contender, with its performance surpassing even established players in the field.

WOO Token’s Bullish Streak Continues With Impressive 24-Hour, 7-Day Gains

The crypto is on a bullish streak, as it continues to surge in value with a 24-hour rally of 14.84% and a seven-day increase of 32.16%, according to CoinMarketCap.

At the time of writing, the WOO token is priced at $0.2827, a significant jump from its previous value. 

This impressive growth is a testament to the token’s strong fundamentals and the growing demand for DEX tokens in the ever-expanding world of DeFi. 

‘Golden Cross’ Pattern Signals Bullish Momentum

The WOO token has hit a new monthly high following the “golden cross” pattern created by the 50-day moving average (MA) crossing over the 200-day MA. At press time, the 50-day MA sits at 0.21914262, while the 200-day MA is at 0.20886455, indicating a positive trend that is likely to continue in the short to medium term.

With this promising signal, traders may want to consider buying on dips to maximize potential profits.

As the purchasing momentum strengthens, the WOO token may attract more buyers and drive prices even higher. However, traders should remain cautious and vigilant for any negative indicators that could put an end to the upward trend. 

Crypto Market Share Growth And Hybrid Model Drive Price Increase

WOO’s price surge can be attributed to a combination of factors, including its growing market share in the crypto industry and its unique hybrid model.

Investors are also anticipating more trading volume in the coming months as major cryptocurrencies such as Ethereum and Bitcoin continue to rise in value.

When cryptocurrencies experience upward momentum, both centralized (CEX) and DEX exchanges tend to see increased trading volume.

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One likely reason why WOO’s token is outperforming traditional DEX tokens such as Uniswap and PancakeSwap is its innovative hybrid model.

By combining elements of both CEX and DEX platforms, WOO offers users a unique trading experience that combines the security of centralized exchanges with the transparency and accessibility of decentralized ones. 

With these advantages, WOO is well-positioned to continue its upward trajectory in the highly competitive world of DeFi.

-Featured image from Currency.com

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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