Alt Coin

Exchange Token Soars 28% After Crypto Giant Binance Announces Eight-Figure Investment

One alternate altcoin is having fun with large intraday features after a sizeable long-term funding from crypto behemoth Binance.

Today, Binance Labs announced a $12,000,000 funding within the WOO Network (WOO).

“Binance Labs invested $12 million in WOO Network as the 2 events broaden their long-standing relationship.

The funding will help WOO Network’s fast enlargement by expertise acquisition, analysis and improvement, and the event of recent decentralized merchandise.”

Binance Lab’s eight-figure funding within the liquidity supplier follows WOO’s $30,000,000 fundraising spherical in November 2021.

“WOO Network’s Series A+ fundraising round comes on the heels of their $30m Series A announced in November, headlined by strategic partners such as Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Capital, Avalanche, and BitTorrent.”

Founded by the crew behind the Kronos Blockchain, WOO Network (WOO) is a decentralized Fintech startup with built-in deflationary measures that goals to carry zero-fee cryptocurrency transactions to crypto buying and selling.

According to the Binance assertion, the WOO Network “provides active liquidity to 40+ institutions, exchanges, trading teams, wallets, and decentralized applications.”

WOO, the community’s native ERC-20 utility token, is used for staking and transaction payment reductions.

WOO loved an approximate 28% price spike in response to the multi-million greenback funding announcement, leaping from $0.91 to a 24-hour excessive of $1.17.

WOO has since corrected and is at present buying and selling at $1.13, up 21.22% within the final 24 hours.

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Featured Image: Shutterstock/Tithi Luadthong/LongQuattro

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