The utility token of a popular crypto exchange is seeing a boost after a price spike caused by a surprise Binance listing.
On Monday, Binance announced plans to list the native token of liquidity network platform WOO Network (WOO).
“Binance will list WOO Network (WOO) and will open trading for WOO/BNB, WOO/BTC, WOO/BUSD and WOO/USDT trading pairs at 2022-02-08 06:30 (UTC).
Users can now start depositing WOO in preparation for trading
Withdrawals for WOO will open at 2022-02-09 06:30 (UTC).”
WOO is an ERC-20 coin and the native utility token of WOO Network.
Founded by the team behind the Kronos Blockchain, WOO Network (WOO) is a decentralized fintech startup and pool trading platform with built-in deflationary measures. WOO Networks aims to bring zero-fee transactions to crypto trading. Its utility token WOO is used for staking and transaction fee discounts.
In response to the listing, WOO jumped 25% in a matter of hours from $0.68 to $0.85. WOO has since evened out, dropping nearly 13% to WOO’s price at time of writing, $0.74. WOO remains up 28.6% over the last seven days.
WOO Network’s Twitter account celebrated the news with a six-Tweet thread highlighting how far the platform has come.
After 3 years of building, $WOO is finally on @binance.
This is a monster among crypto exchanges, with more than 3X the volume of any other, with millions of followers and users.
Let’s look at how we got here. ?(1/6)https://t.co/FobHeyMN20
— WOO Network (@WOOnetwork) February 8, 2022
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Source: https://dailyhodl.com/2022/02/09/binance-gives-surprise-support-to-crypto-exchange-utility-token-causing-price-spike/