Exchange

WazirX Token Finally Goes Live on Binance Exchange

The native token of India’s premier cryptocurrency exchange WazirX is now live on the world’s largest crypto trading platform Binance. The token was up for a lucky draw on Binance Launchpad via the #WazirXLottery Promo, which ended on Wednesday, February 05, at 08.00 am UTC. The announcement was made by Nischal Shetty, CEO and founder of WazirX on Twitter.

WazirX was acquired by Binance last year, and since then, there have been heavy expectations from the collaboration, as India has been quite a hostile ground as of now. An international crypto giant as big as Binance could possibly change the game and open the doors for massive crypto development in the subcontinent. In fact, India is regarded as one of the most potent grounds for the crypto industry to flourish, as it has the largest youth populace and booming growth of digital services.

In a tweet today, Shetty emphasized the use of WRX token in the WazirX ecosystem, an important aspect for any company or project growth. He said,

“Crypto tokens have specific use cases within the product & ecosystem where they exist. WRX is an exchange token that has utility within WazirX ecosystem. There will be a future where products won’t be built without tokens. India should be ready. #IndiaWantsCrypto”

As soon as it went live, WRX found a massive take as the token was trading over 3x from the initial offering price on the exchange. Indian crypto analyst and influencer Crypto Patel feels that this could possibly change the Indian crypto ecosystem. He tweeted,

Despite the immense potential, the Indian crypto industry still continues to be in its childhood. This is mainly for two reasons, one, there’s a lack of awareness among the potential users, and two, lack of support from the government. This is why even the largest crypto exchange in the country has a humble market cap of just over $10 million. Nonetheless, the growth can only be positive from here on, especially after the capital influx from the Chinese major.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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