As we know that WazirX is the most popular Cryptocurrency exchange of India. And also most of the people prefer to use Wazirx exchange because of the good user interface.
In the present time Wazirx token is popular because of the NFT platform launch at the end of May 2021.
Today in this article we will explain the potential of WRX token.
This whole article will give you an idea, that, how much better it is to go with the Investment in WRX coin.
Since here we are not financial advisors but still we try to explain the potential of WRX token at its real value.
So don’t miss any part of this article to understand the future potential of WRX coin.
Initial Phase Of WRX Token Popularity
WRX token was launched on WazirX exchange in the form of token.
Token means only listed as a coin on the exchange and in actual there exists no development work to make the real cryptocurrency.
In the very starting WRX token didn’t get the attention of traders, because everyone knew at that time about the reality of WRX.
But in the beginning of 2020, Wazirx exchange did a partnership with Binance Exchange.
Wazirx & Binance partnership resulted in a golden chance to make a place at international level through Binance Exchange.
Wazirx exchange put their WRX token at the Binance Smart Chain Contract and also listed at Binance Exchange ( was a part of partnership).
Pump In The Price Of WRX Token On April 2021
On 8 April 2021 during the alts pump season of the cryptocurrency market, the price of WRX pumped to around $4.05+.
Price of the WRX coin was stable at this price with a fluctuation of $1 for around 15 days.
And after this pump the name of WRX token became popular as “Binance coin of India”.
As we know, the concept of using own exchange token by Wazirx is the same as Binance Exchange.
So people have belief in the WRX token as a Binance coin.
And also people are thinking that WRX token price will be $600 in future.
Three Impactful Factors Responsible For Better Future Of WRX Token
There are three main factors which are responsible for the increment of the price of WRX Token (Wazirx token).
These three factors have a very high forceful tendency to push the price of Wazirx Token at a very high level.
These three factors which can push Wazirx token ( WRX) token price to very high are Use of token, Burn of token and Development of own Blockchain network.
Let’s discuss these factors one by one, how they can help WazirX to achieve a very big height in the cryptocurrency market.
Use Concept Of Wazirx Token
Wazirx Exchange uses the same use concept of WRX like Binance to use BNB coins.
But here WRX token use more better than Binance Exchange technique to use.
No doubt Binance is far better in every aspect but we should not forget that WazirX Exchange is limited to Indian users.
Even with small revenue by running the cryptocurrency exchange business by Wazirx Team, They are offering a 50% discount on trading fees if we pay fees via WRX token.
Here we should not look at other exchanges which are offering very low trading fees ( around 0.01% or even less) , for example Bittrex global exchange. Because they are not giving their services properly to the people. Most of the time people face problems with document verification for a long time. And also if an exchange will gain very small revenue then how that exchange can develop their services in this time of competition in the cryptocurrency market.
But here WazirX exchange is doing very well. They are offering the most perfect services in Indian cryptocurrency market.
And the discount in the trading fees is really appreciated.
So WazirX exchange indirectly gives options to the people to trade with very low fees and also to hold WRX tokens forever to get discounts on trade fees.
Secondly Wazirx exchange launched its own NFT platform to support the artists and creators at international level.
The NFT platform is doing really great work in the present time.
Since people in India don’t give value to the art but still many people are engaged in this field of art. So it is a big revolution by the side of Wazirx Team to engage those people in cryptocurrency, who are not interested in cryptocurrency but interested in arts.
This NFT platform of Wazirx exchange is moving people to use WRX tokens.
Burn Of WRX Token By WazirX Exchange Team
According WazirX Team, They will burn 10% of the total Wazirx token supply.
It means they will burn 1,00,00,000 WRX tokens.
The WazirX team is burning the WRX token from time to time. In the history of the cryptocurrency market, WRX coins have been burned by the team four times.
Part 1: 833,333 WRX burned.
Part 2: 3,333,333 WRX burned.
Part 3: 6,533,333 WRX burned.
Part 4: 3,753,333 WRX burned.
The WazirX team will continuously burn the token until they burn a total of 10% of the supply.
And also we can see at the blog of Wazirx Exchange that the price of WRX token increased by 300% after token burn.
And also we should see at the fact that 30% of the token supply is locked in the wallets of the users, that will be used to pay trading fees by users.
Wazirx Exchange Own Blockchain Network
Since the present time team of WazirX Exchange is not working on the development of the blockchain platform.
But according to the interview at Crypto Kanoon, Nischal Setthy revealed that they will start India’s own blockchain Network hopefully by next year.
Nischal Setthy also cleared that this is not a perfect time to work on blockchain Network development. Right now their team is working for the development of the exchange platform to make it more better and efficient for the users.
If people who are using WazirX Exchange will be happy to use it then there will be a better time to enter in the development of their own blockchain Network.
As we know that developing a Blockchain Network is not a big deal in the present time. But if a team of reputed Exchange is claiming that they will work on blockchain Network platform then surely they will. Because every company in any field remains ready to enter a new zone with new things so that they can grow more and more.
So here it is 99.99% surety that WazirX team will develop its own blockchain Network platform and then WRX coin will achieve rank in the cryptocurrency field like Binance coin.