WooNetwork: After an explosive Q1, is WOO destined to retreat
This sort of climb implied that the project was gaining traction far better than its counterparts across the entire market over the course of the week.The token’s social engagements increased by 133% in the last 24 hours, according to LunarCrush. This also triggered a 12.97% rise in the token’s value. Despite theAccording to the social intelligence platform, WOO’s bearish sentiment increased by 47.9% in the last 24 hours.
Besides the significant surge in value, its first quarter report revolved around breakthroughs in some parts of its objectives. Woo Network, in theon 13 April, stated that it registered explosive growth in WOOFi, the DeFi subset of the network’s ecosystem. In this district, the project recorded a seven-day trading volume of 196 million while investors pushed the staked WOO to a 100 million milestone.Furthermore, there was a new influx of users into the ecosystem. About its priority for the year, which was to quickly adjust to the budding layer two solutions, the network made some progress with“WOOFi Swap has quickly adapted to the L2 narrative by launching support for both the zkSync and Base testnets.
However, recent market conditions have left some questioning whether the token’s growth is sustainable. In terms of market capitalization, WOO was ranked 88. Like its price, the market cap also gained around 12% in the last 24 hours, rising to 480.31 million, at press time.
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