Binance Gives Surprise Support to Crypto Exchange Utility Token, Causing Price Spike


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).

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“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.

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Featured Image: Shutterstock/Andrea Danti/Fotomay/Natalia Siiatovskaia

 




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