WazirX

What is WazirX?

WazirX (WRX) serves as the native utility token for the WazirX cryptocurrency exchange. This token finds utility across various functions within the platform, encompassing reduced transaction fees, participation in token sales, and the distribution of rewards. Operating on the Binance Smart Chain, it was introduced to stimulate the expansion and utilization of the WazirX trading platform.

Established in 2018, WazirX is an Indian cryptocurrency exchange boasting a team that caters to over 1 million users. Positioned within the Binance ecosystem, WazirX aspires to democratize cryptocurrency accessibility across India. As a component of the Binance ecosystem, WazirX extends its services to a global audience. Key attributes include:

1. Instant options for deposit and withdrawal in INR (fiat).
2. Availability of 150+ tokens.
3. Implementation of the Smart Token Fund, facilitating the discovery and management of cryptocurrency portfolios by traders.
4. Auto-matching P2P engine.
5. Login functionality via the Binance option.

WRX stands as the utility token for WazirX, built upon the Binance blockchain, with a total supply capped at 1 billion. Those holding WRX tokens stand to gain a range of advantages on the trading exchange, including discounts on trading fees, participation in WRX trade mining, token airdrops, margin fee benefits, and more. Supported by Indian entrepreneurs boasting over a decade of experience in constructing and expanding global products from India, both WRX and WazirX have the backing of seasoned professionals. Additionally, Binance acquired WazirX in November 2019.

Recent Video Interview

Main points of the interview:

• WazirX has 15 million customers worldwide.
• Customer support scaling in India is challenging but essential.
• Success in India translates to potential global success.
• India's large, young, tech-savvy population drives growth.

WazirX Team Background

WazirX was fouhnded by Nischal Shetty and Siddharth Menon. Shetty went to Visvesvaraya Technological University, and also founded Crowdfire, an app that simplifies the social media managemanet process by assisting you in discovering and scheduling content while enabling the management of all your social accounts from a single platform.

WazirX Project Development

The most recent updates for WazirX in August 2023 are:

• WazirX collaborated with Lovely Inu for the 'Highest Trader Kaun' trading marathon held from August 7th to August 11th, 2023, featuring a substantial prize pool of $10,000 in USDT.
• GoSats and WazirX joined forces to offer users exclusive and compelling promotions!
• WazirX actively supported the BEP20 Network Upgrade & Hard Fork.
• A LOVELY meme contest, with a prize pool of 500 USDT, was organized.

WazirX Price Analysis

As of November 25 2024 WazirX has a marketcap of $72M. This is {{percentagefromath}} from its all time high of $5.88. In terms of its tokenomics, there's a total supply of 1B with 46% currently outstanding. Keep in mind WazirX has a fully diluted value of $158M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude