Why WazirX token (WRX) is rising so hot? 123% in 12 hours (!)

[so98nn]

WazirX is an Indian Exchanger for crypto currency assets.

Their token WRX has seen mega rise of 123% at the time writing this post. I mean whats up? Why this much change in so short time, anyone has got idea about it? Also it has not stopped yet, the volume is getting bolder as I am writing; so it's kinda surprising stuff.

There is also one noticeable thing about this coin, it was around $ 0.08 couple of month ago.

Is it gonna be next BNB kinda coin? Do you guys think it could go boom like BNB exchanger?

[TWW]

I don't see anything interesting about the news on their channel. just about increasing the price but there is no clear reason why it happened.
I think there is an interesting event taking place on the exchange that brings in a lot of users and increases the adoption of the coin.
but isn't wazirx exchange from India really a partner of binance? I remember they had an event at the same time.
there's a chance wazirx could become a large exchange like binance. because they have good partners.

[DaMut]

maybe it is the counter effect of being pressured by indian government about the ban and penalty for cryptocurrency miners? given the fact wazirx is based in india.
at march 14, there were proposing a ban for crypto trading and penalising the miners, but until now there is no official statement about that while the market keeps getting pressured by the fear.
people might think it was like china a few years ago, banning people from trading but then they were enabling it again causing the price to skyrocket.

wazirx acquisited by binance, I do not think it will become the next bnb.

[Bttzed03]

The recent rise is most likely connected to the Indian Government's move to regulate cryptocurrencies instead of banning them ^[1]. WazirX being the top virtual currency exchange in the country definitely benefited from this. The Indian crypto community are probably speculating that it could reach $10 or more (similar to what happened to BNB).

[1] https://www.indiatoday.in/technology/news/story/government-makes-first-move-to-regulate-bitcoin-asks-companies-to-disclose-all-cryptocurrency-dealings-1783821-2021-03-26

[Tytanowy Janusz]

Is it gonna be next BNB kinda coin? Do you guys think it could go boom like BNB exchanger?

The fact that something pumped 10x, 50x or 1000x in short term during "bubble of everything" does not mean that it is strong fundamentally. I'm not saying Wasir is a bed exchange, but its completely different class of assets compared to BNB. Wasir is an exchange that operates for India citizens, while binance is world leading crypto exchange that became an industry leader after few months of existence. BNB has also BSC - chain with the biggest traffic (few times bigger than ETH).

[Kabul]

Is it gonna be next BNB kinda coin? Do you guys think it could go boom like BNB exchanger?

Dont be so oblivious. Despite being a son of binance holding, WarzirX should not be compared with BNB. Binance is bigger and people only focus on this exchange instead o WazirX. Moreover, during this bull run, anything can happen so such a token can easily be pumped in a few days or months. Therefore, if you want to invest in WRX, what are you waiting for? Bitcoin is expected to surpass $80000 by the end of this year and the momentum is still very powerful

[tvplus006]

...Is it gonna be next BNB kinda coin? Do you guys think it could go boom like BNB exchanger?

If you look at the market as a whole, you can see that the price of all exchange coins, after the rapid growth of BNB, also increased many times. But for me, it is not clear why such a rapid growth in these exchange coins, which, in addition to a discount on the commission, do not give anything to their holders, unlike BNB.

[bryant.coleman]

Being a regular visitor to India, I can say that if cryptocurrency becomes 100% legal there, then India will be one of the largest markets. But recently the government has made a lot of hostile announcements targeting cryptocurrency and the users and exchanges have faced a lot of harassment. There are a handful of exchanges in India apart from WazirX, such as ZebPay and Coindcx. Investing in these companies is a good option, but we can't ignore the risks that are involved.

[traderethereum]

I only think about a pump and dump scheme that always comes to the coins at the market, and that is no surprise to see the coin get a pump so hard and amaze people.
They think that the coin has a chance to increase more, but if there is no update from the team or developer, it will be just a pump and dump.
Be careful of that because you can get in their trap by buying the coin at a high price.
It is difficult to beat BNB since the coin becomes more popular now and still trying to defend the position in the market. And we already see BNB increase higher.

[so98nn]

So after reading the comments above it seems that we have mixed reviews for the current rise in WRX. One thing is for sure, WRX will rise more than this, may be $5-10 and above. It may not become as strong as BNB due to its limited usage to Indians only. However let us keep in mind that India is very strong in terms of investment and I don’t think even 10-20% of people are into bitcoin right now from India.

If this news becomes reality and India is able to regulate the crypto properly then one could see big surge in WRX as well as other currencies.

[hugeblack]

If the market capacity for that currency is small and there are not many places that can convert that token into dollars or any other currency outside that exchange then it is most likely that it is a pump/dump model to obtain some quick gains from greedy investors, so do not invest with it.

BNB price was rising because of ETH high fees. they offer cheap exchange using Binance.com and low Dax using Binance smart chain.

[GrosWesh]

The Indian market is huge. However, the changes in position of the Indian government regarding cryptos disturb me. One day cryptos are welcome , then it is prohibited  (or it's what i understood by reading the news). I had a big bag of wrx back in the days, then I parted with it for the reasons just mentioned.

That's life

[lionheart78]

WazirX is an Indian Exchanger for crypto currency assets.

Their token WRX has seen mega rise of 123% at the time writing this post. I mean whats up? Why this much change in so short time, anyone has got idea about it? Also it has not stopped yet, the volume is getting bolder as I am writing; so it's kinda surprising stuff.

There is also one noticeable thing about this coin, it was around $ 0.08 couple of month ago.

Probably it is being pumped?

Is it gonna be next BNB kinda coin? Do you guys think it could go boom like BNB exchanger?

We can speculate as much as we can but it is too early to say that it will be the next BNB exchanger since I don't think that the company owner is as clever as CZ.

[Renampun]

...

I feel this is just plain bullish...
Even though India has a large population but those who believe in cryptocurrencies are very few, this is what makes Binance difficult to beat, plus the features provided by Binance are very good while WazirX looks like a normal exchange.

[ilovealtcoins]

I see WRX as an exchange that CZ acquired in 2019 and it is clearly CZ's property. I think that the recent price increases of CZ's cryptocurrencies such as ALICE, CAKE, XVS, BUGGER, BNB ... all increase in price almost at the same time. I suspect cryptocurrencies are priced up by their owners.
WRX exchange exists in the Indian market and it has not had the same effect as Binance global so its recent price increase has been unusual.

[so98nn]

There you go! With second day WRX is again up by 99% in few hours only.
I mean come on, now this news has to be something. With the Binance collaboration they are really doing something and best days are here for this currency.
So if we combine the % up from couple of days then we are going like 223% up surge for this currency.

An hour before from this post write up, WRX also tweeted that whether you are holding the WRX? It does indicate that WRX is not going to stop here, but will keep going up.

I think the CEO Mr. Siddharth had well thought plan for this and they were waiting for the RBI to regulate the crypto in India.

[Vishnu.Reang]

I see WRX as an exchange that CZ acquired in 2019 and it is clearly CZ's property. I think that the recent price increases of CZ's cryptocurrencies such as ALICE, CAKE, XVS, BUGGER, BNB ... all increase in price almost at the same time. I suspect cryptocurrencies are priced up by their owners.
WRX exchange exists in the Indian market and it has not had the same effect as Binance global so its recent price increase has been unusual.

I didn't knew that WazirX was owned by Binance/Changpeng Zhao. WazirX was originally founded by a bunch of Indian IT engineers (Nischal Shetty, Sameer Mhatre and Siddharth Menon). Anyway, this means that in case the Indian authorities try to ban cryptocurrency, then they can just move their operations to some foreign country with the help of Binance. Anyway, despite the talks of a possible ban the trade volumes seems to be going up like crazy.

[Evgenklm]

because this exchange belongs to the binance exchange, and we all know that binance is always successful and brings good growth to everyone, so the Indian exchange is no exception, but this is not for sure)

[ragavancoin]

This is really crazy because yesterday I saw the wrx price around 1.3usd but today it was around 3usd, I know it all crypto market depending on bitcoin price, but wrx has best support for binance because they have burned some wrx tokens last month it can be one of thing to pump wrx price.

[kak uli]

There are some interesting facts about WazirX's price growth, from which it only takes 12 hours to reach a large percentage of 123%, I think that is a form of resistance by Indian-centered traders against their government over the prohibition and punishment for cryptocurrency miners. I see this is a form of Trader's perotes against the Indian government which causes WazirX prices to continue to soar, it is possible that WazirX will be like BNB in the future if there are more enthusiasts