TL:DR Breakdown:
- The WRX value hype can be traced to the update that WarizX is set to launch an NFT platform.
- Data from CoinGecko indicates that WRX value has reached $5.90, which is a new all-time high.
Following the news of an NFT (non-fungible token) platform launch, WRX value has experienced a high increase. WRX, which is the native token of Binance owned Indian exchange, WarizX has recorded a recent increase in value despite regulatory drama from politicians based in India.
WRX value has increased to hit a new all-time high after news surfaced that its company, WarizX would be introducing a unique NFT platform specifically for the crypto market in India. WarizX has seen its token’s trading volume exceed $200 million. This is its highest since the token’s launch in March year 2018.
According to liquidity and trading volume, WarizX is ranked Number one in India, having many users within the age range of 22 to 32 years. In a quest to increase investment in a start-up for crypto, the India exchange partnered with Binance in March 2020 to launch a “Blockchain for India” fund valued at $50 million. The WRX value hype can be traced to the update that WarizX is set to launch an NFT platform that would be the first to have content creators, Indian artists, and collectors as its primary target. On this new platform, customers don’t have to worry about being charged for creating and listing non-fungible tokens.
In addition to this, the exchange is massively working towards the high transaction fees that go with the creation and trade of tokens that are Ethereum based. All these have contributed massively to the increased WRX value.
WRX value gains massive increase
This NFT platform initiative by WarizX is led by Sandesh B Suvarna — an entrepreneur based in Canada and Vishakha Singh who is a renowned producer and actor.
Data from CoinGecko indicates that WRX value has reached $5.90, which is a new all-time high. This represents a massive rise of 250 percent in the last 24 hours, enabling WRX to be the best performer amongst the top 100 crypto assets according to market caps.
