Binance one of the leading crypto exchanges in the decentralized ecosystem, recently listed WRX token on its platfrom on 4th February. WRX is the native utility token of Indian crypto exchange WazirX which was recently acquired by Binance. The listing of the token turned out to be a massive boon for the WRX token holders as the native token has seen a major uptick in its price ever since its listing on 4th February.
Binance has currently launched three trading pairs for the token which include,
WRX Token Registers Over 100% Rise Against USDT and BTC
Ever since its listing on the exchange, WRX has seen massive pump in its price as all its trading pair including Bitcoin and USDT pairs were trading at +120% on the 24-hour price chart. At press time the WazirX token was trading at $0.1152 having seen a 137% rise in its price in the past 24 hours against USDT. While it was up by 116% against Bitcoin.
The startling performance of the WRX token was expected since WazirX has been quite a popular exchange in India who defied all odds to remain relevant in the past couple of years. While many exchanges perished owing to Reserve Bank of India’s April 2018 circular which prohibited any bank from offering their services to crypto service providers in the country.
WazirX, unlike other exchanges, developed one of the most advanced P2P online market places to avoid using banking services, and their efforts bore fruit as the Indian exchange managed to run its business, facilitate trading services to Indian customers without violating any regulatory guidelines issued by the central bank. The acquisition by Binance turned out to be an icing on the cake for not just the exchange but also for the Indian community.