WazirX WRX price surged by 250% to an all-time high following the news that it will launch an NFT platform for the Indian market so let’s follow up on our latest altcoin news.
The binance owned WazirX exchange enjoyed record volumes despite the recent regulatory uncertainties from the Indian government. Its native token WRX skyrocketed to an all-time high on the back of the news that the company will be launching its own NFT platform for Indian markets. According to the local media, WazirX crossed $200 million in daily trading volume for the first time since 2018. The bullish news was retweeted by the Binance CEO Changpeng Zhao:
“» Binance-owned Indian crypto exchange WazirX crosses $200m in daily trading volume; eyes $1b in 2021 – The Financial Express https://t.co/t3GD7UwvYt
— CZ 🔶 Binance (@cz_binance) April 5, 2021”
According to the exchange founder Nischal Shetty, the exchange has the highest liquidity and trading volume in the country with the majority of the users aged between 22 and 30. The exchange in partnership with Binance launched a $50 million Blockchain for India funds in order to invest money in Indian startups. The hype this time came from the news that WazirX announced the first NFT platform that targeted Indian artists, collectors, and content creators.
The exchange won’t charge the customers for creating NFTs and listing them on the platform and it is working on ways to reduce the high transaction fees that are associated with trading or creating ETH-based tokens as Shetty elaborated:
“It will truly transform the market in our rapidly digitizing world with a growing interest in NFT across the globe. Both digital creators and collectors stand to benefit from the WazirX NFT marketplace. As of now, we are working around certain nitty-gritty to make NFTs more lucrative for our customers.”
According to local media, the WazirX WRX price surged to a new all-time high of $5.90 which represents a monumental 250% surge in the past day and made the exchange-based token the best performing asset in the top one hundred by market cap. There are more than 248 million tokens in circulation out of the maximum billion supply, hitting a market cap of $1.2 billion. WRX cranked 1150% over the past week and is up by 8800% since 2021 started.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]