WOO ecosystem quarterly report Q3 2024
Executive summary
In stark contrast to the unbridled bullish optimism early this year, the third quarter of 2024 was filled with investor uncertainty amid expectations of rate cuts, regulatory changes, geopolitical tensions, and an upcoming US election. Through it all, ETF flows into BTC remained positive, stabilizing the crypto asset market and allowing altcoins to rebound from early-August lows. Sentiment appears to be turning increasingly optimistic heading into Q4, with the expectation the presidential election will produce a candidate willing to work with the crypto industry.
Within the crypto industry, a paradigm in sentiment has been shifting away from high FDV infrastructure projects often plagued with empty blockspace and high token inflation. Many market participants have shifted towards applications dominating many narratives, with a focus on user metrics, revenues, and enduring product-market fit. Some examples include AAVE leading the emerging DeFi Renaissance and Pump.fun driving massive user metrics on Solana. This backdrop gives WOO a strong narrative as an ecosystem of apps that covers many of the core verticals demanded by crypto users.
The WOO ecosystem led key discussions with industry leaders, driving significant growth across Asia at events like Vietnam Blockchain Week, Korea Blockchain Week, and Token2049. Through partnerships with Google Cloud, Hashkey, EVG, Selini, and Kaito AI, we co-hosted a series of impactful events focused on the future of the industry, including DeFi and AI. As a result, WOO was listed on the South Korean exchange Coinone and has become one of the most traded tokens on both Coinone and Bithumb at times throughout the quarter. Building on this momentum, we have already lined up future events and partnerships to strengthen community growth in key regions across Asia for the remainder of this year and into 2025.
Willy Chuang, COO
Disclaimer and important information
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