The WazirX team launches a new large-scale initiative in the Indian market against local regulators. The event attracted attention outside the country, and the price of the WRX exchange token jumped by 250%.
The native token of India’s leading exchange, Wazir – WRX – jumped 250% to an all-time high. The daily trading volume of WRX also peaked at $ 200 million. The reason for the success is the launch of the exchange’s own platform for the exchange of NFT, or non-fungible tokens.
Nischal Shetty, founder of Wazir, notes that WRX has the highest liquidity in the country among the cryptocurrencies on display. The advantage of the new local NFT platform is that there is no fee for the creation and placement of collectible tokens for artists and content makers in the country.
According to media reports, the initiative is led by a Canadian entrepreneur of Indian origin Sandesh B. Suvarna and actor and producer Vishakha Singh. It is part of the #IndiaWantsCrypto campaign that swept Twitter, in which industry representatives and ordinary users defend the right to freely exchange cryptocurrency.
We will remind, earlier the Reserve Bank of India threatened with criminal prosecution everyone who operates with bitcoin or other digital currency. Later, the Treasury Department, which includes the bank, softened its division’s radical rhetoric.
The new initiative was supported by the head of the Binance exchange Changpeng CZ Zhao. The latter is actively involved in the development of the local market, as a sponsor of the Blockchain for India startup development fund.