- BingX collaborates with Woo Network.
- This will allow BingX users free access to Wootrade.
- BingX traders can also switch onto deep liquidity pools on Wootrade.
BingX, the crypto social trading network, announced that it has joined WOO Network, a trading platform that provides deep liquidity. This collaboration intends to provide BingX users with free access to Wootrade, an institutional liquidity solution on Woo Network.
In detail, Wootrade includes a rapidly growing list of assets, which trades with a peak volume of more than $600 million. BingX’s incorporation with Wootrade’s deep liquidity will help traders to plug into Wootrade’s deep liquidity pools on main pairs. This will allow the Woodtrade Network to act as key liquidity support.
Ran Yi, Chief of Ecosystem Development at WOO Network, avidly said:
WOO Network is excited to explore providing liquidity to BingX, a platform that plays a very innovative role in bringing crypto-asset trading to the global stage. BingX’s focus on compliance and security makes them an ideal partner to develop new markets and bring more volume to our network.
Significantly, holding deep liquidity on BingX is advantageous, because it specifically serves as an attraction, reinforces investors’ confidence, and improves the overall trading experience of the users.
Moreover, adequate access to liquidity will pave the way for an increase in order books for investors as well. This will improve market transparency and provide users with better price execution, which will directly reduce the trading cost. Furthermore, users can expect lightning-speed transactions while completing trades on BingX.
BingX Global Communication Director Elvisco Carrington remarked that the company has been adding several coins on its platform, which led to a spike in its daily average trading volume. That said, it is critical that liquidity becomes a frontrunner at this juncture.
He further added:
BingX is continuously working to create a trading environment that minimizes market volatility as much as possible. By partnering with Woo Network, we are confident that we are better able to achieve this goal.
To note, BingX has already listed nearly 300 new spot trading pairs like OMG, YFI, HODL, RAD, and XLM. However, this number is expected to grow in this quarter and also in the next quarter.