Wootrade Network breaks new volume record as growth continues

Wootrade Network breaks new volume record as growth continues

The Wootrade Network is an alternative trading system that lets users enjoy the best depth and trade execution. It continues to see sustained growth as more clients are onboarded to the network. In this brief article, we look at the reasons behind this growth and what it means for the future.

On November 18th, institutional and exchange clients on the Wootrade Network set a new milestone by reaching $17 million in daily trade volume. They choose to use Wootrade because the network offers them a better price over traditional market makers or exchanges:

  • Lower/zero trading fees
  • Tighter spreads between bid/ask prices
  • Better depth within a range

To summarize, trading on Wootrade gives clients the tokens they want, at a better price, in higher quantities, and without a fee. That’s an easy decision for most clients, especially when you consider the sterling reputation that Wootrade has thanks to its connection with incubator Kronos Research. Kronos Research trades between $1billion-$2 billion each day on major exchanges, making them one of the largest asset managers and market-makers in the space.

What are they trading?

Clients are currently able to trade any of the tokens listed above against USDT. As the network grows, Wootrade will add more assets and more advanced trading products like futures and margin trading, giving clients even more reasons to trade.

Who is doing the trading?

Currently, the Wootrade network is invitation-only and just our partners and early adopters are given access. However, these partners are made up of institutions and exchanges that offer trading services to their own clients and users. The actual trader might be a normal person accessing the Wootrade Network’s liquidity via the partner’s own website or mobile app without even realizing it. The trader will benefit from a better price and user experience, the partner will save money on fees, and everyone goes home happy.

Over the next few quarters, Wootrade will open up to a wider range of clients and professional traders, allowing more people to access and contribute to the liquidity on the network. As more users join, the liquidity and depth will grow even more, making Wootrade’s zero-fee model the gold standard for how cryptocurrency is traded. Of course, these users will be major drivers of adoption for the WOO token, as they will be incentivized to stake and hold in large quantities to maintain the optimal fee tier.

Who is building the system?

The team has a number of world-class talents, including CTO Terence Wu, who spent over 15 years building trading systems. This includes experience at top firms like HSBC, where he was responsible for equity derivatives trading systems and market-making system infrastructure.

Can I take advantage of this?

Sure! The ideal user is anyone who cares about low fees and best trading execution. You can register to be part of the next wave of users on the website here: https://woo.network

Be sure to follow Wootrade on Twitter and Telegram for all the latest announcements and updates.

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