The WOO network token, WOO increased by 6.15% to $0.2984, making it a top mover on April 27, with a total trading volume in the last 24 hours of $77,236,686.

The network, which includes a system of centralized finance (CeFi) and decentralized finance (DeFi), has since gained popularity with recent news highlighting its outperformance of CAKE and UNI earlier this year.

A low cost alternative

WOO network is quickly gaining recognition as a one-of-a-kind project within the cryptocurrency space. Its system of centralized finance (CeFi) and decentralized finance (DeFi) services is designed to provide deeper liquidity to cryptocurrency market participants.

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The project’s focus on blockchain technology is a significant aspect that the company markets as a distinguishing factor it from its peers in the space.

By utilizing this technology, the network’s infrastructure can provide traders, exchanges, institutions and DeFi platforms with greater market liquidity and faster trading execution at zero or low cost.

WOO network has since shown steady growth over the last three month periods, with recent price fluctuations pushing the value above $0.32.

WOO moves to zkSync Era

Around the same time of the latest price rally, WOO network has shared an announcement that their DeFi traders can no gain access to WOOfi’s best pricing on ethereum scaling solution zkSync Era.

zkSync Era uses zero-knowledge proofs to verify transactions without revealing data, thereby enhancing the speed and cost-effectiveness of transactions. The layer 2 protocol bundles transactions together, scaling ethereum and providing users with a similar experience as using ethereum but with allegedly faster speeds and lower fees.

In their announcement, WOOfi shares plans to leverage its capital-efficient sPMM v2 liquidity to offer its price execution to zkSync Era immediately. Although data is not conclusive as to whether this announcement has impacted the most recent price rally, WOO, has been in a number of news reports as a top mover in the last few weeks.

#woo #crypto2023 #crypto #Binance #askbinancesensei

BeInCrypto looks at five altcoins that increased the most in this week’s crypto market, specifically from April 21 to 28.

The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These bullish altcoins have stolen the crypto news and cryptocurrency market spotlight this week as the biggest gainers:

Render Token (RNDR) price increased by 36.87%

Cronos (CRO) price increased by 18.87%

Injective (INJ) price increased by 14.53%

MutliversX (EGLD) price increased by 12.37%

WOO Network (WOO) price increased by 9.09%

Render Token (RNDR) Price Leads Bullish Altcoin Gainers

The RNDR price broke out from the $2.15 horizontal resistance area on April 26, reaching a new yearly high of $2.55 two days later. Due to the lack of overhead resistance, the price action suggests that the upward movement can accelerate further.

If it does, the next closest resistance area will be at $3.80.

RNDR/USDT Daily Chart. Source: TradingView

However, if the rally loses momentum, RNDR could fall back to the $2.15 horizontal area, which is now expected to provide support.

Cronos (CRO) Price Breaks Out Above Resistance

The CRO price has increased alongside an ascending support line since the beginning of the year. More recently, it bounced at the line on April 24 (green icon).

The price successfully broke out from the $0.073 resistance area on April 27. Now, the area is expected to provide support.

CRO/USDT Daily Chart. Source: TradingView

If the increase continues, CRO could reach the next resistance at $0.086. However, if the rally loses steam, CRO could drop to the $0.073 area, which is now expected to provide support.

Injective (INJ) Approaches Pattern’s Resistance

The INJ price has increased inside an ascending parallel channel since the beginning of the year. An ascending parallel channel is a type of corrective pattern in which the price bounces between two parallel lines before eventually breaking down most of the time.

However, the fact that the price keeps trading in the upper portion of the channel by bouncing at its midline (green icon) makes a breakout slightly more likely.

INJ/USDT Daily Chart. Source: TradingView

If the price gets rejected at the channel’s resistance line, it could fall to the midline again. However, if a breakout above the resistance line transpires, an increase to $15 could follow.

MultiversX (EGLD) Price Altcoin Fails to Break Out

The EGLD price has decreased under a descending resistance line since Feb. 13. More recently, EGLD made a breakout attempt on April 27.

However, that was unsuccessful, and the price created a long upper wick. This is a bearish signal since it means that the buyers were not able to sustain the price. Rather, sellers took over and pushed it down.

EGLD/USDT Daily Chart. Source: TradingView

If a breakout occurs, EGLD could increase to $50. However, if the line causes another rejection, a drop to $38 will be on the cards.

WOO Network (WOO) Price Bounces at Support

Concluding the list of bullish altcoins this week, Woo Netrowrk wraps up the list. Similarly to INJ, the WOO price has traded inside an ascending parallel channel since the beginning of the year.

The price was rejected by the channel’s resistance line on April 15 and has fallen since.

However, WOO bounced at the $0.26 horizontal support area on April 24 (green icon) and began an upward movement.

WOO/USDT Daily Chart. Source: TradingView

If the increase continues, WOO can reach the channel’s resistance line at $0.36. However, if the rally loses momentum, WOO could fall to the $0.26 area again.

#woo #egld #Binance #inj #rndr