Business Crypto

India’s Largest Crypto Exchange WRX token reached $1bn market cap

WazirX WRX
WazirX WRX

India’s Largest crypto exchange WazirX crosses more than $270M trading volume in the past 24 hours. Launched in 2018 by Nischal Shetty, WazirX is a subsidiary of the world’s largest cryptocurrency exchange Binance. On 04th April 2021 WazirX’s own token WRX is up by over 180% in 24 hrs. This overwhelmed event caused the exchange heavy order volume which leads to downtime.

Why WRX is getting Higher?

Just like Binance’s BNB, WRX is an ethereum-based (ERC-20) token that can be used to trade and pay for fees on the exchange. WazirX offers a 50% discount on the trading fee paid in WRX tokens.

India has one of largest crypto community, since from the recent bull run of Bitcoin, people are getting more interested in the blockchain and cryptocurrencies. WazirX is the most popular and by far the largest Indian exchange available in the region. As more people joins the platform more its worth would be.

WazriX WRX
WRX one week

Currently, WRX is trading at $4.03 which up by over 700% in a week. It is expected to reach $10 by the end of May if BTC continues to be climbing up and new investors keep coming.