wrx token going continue down, why?

[poonam8288]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

[YellowSwap]

It's normal but believes me it will still recover, that coin belong to a new crypto exchange and after the hype around the exchange the coin loses value, this is nothing new and once the exchange team starts introducing new features things will start going bad to normal. Don't give up wazirx is a good exchange.

[asriloni]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting.

That means if wazir didn't bring a huge progress on its exchange site. As far as I know that wazir act as a child company for binance to give a service to the indian and this is also happening with another child exchange site as the demand is still focusing into the major exchange site. You can even take a look at some local exchange site as well. their tokens have the same performance.

Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Yeah that looks so frustrate to see that the price has been plummeting a lot. I expect this needs long term to recover. The demand for wazir already done and it needs to regained it again.
There are various reason triggering such thing to happen with wazir.

[Adbitco]

Is a function of Sever crashed down, that was why their Native currencies when down significantly in the last few month and continually, many users were fade up with their operations and many lost their funds ect

please make reference to  this article here for better understanding.

[husdemba]

There are now hundreds of coins with the same fate. In general, alts are in very bad shape and BTC is constantly crushing them. WRX may be one of the top premium coins when the bull season arrives.

[5W-KILO]

WRX coin rose from 0.11$ to 4$ don't tell me you failed to take profit at the time, you shouldn't buy and hold coins when they are at a new ATH ( all time high ) now is the best time to start accumulating 0.55$ looks like a decent price but I will buy if price ever come down to 0.2-0.3$ range.

[Coin BTC]

Now there are so many platforms to be used as a medium of exchange, of course each platform has a different way,
and here we are talking about WazirX, that doesn't mean WazirX is a bad exchange.

and make this an opportunity to buy tokens because now the price is decreasing, later it will run normally again, and the tokens will recover.

[Sled]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Wazirx has a good market review in the start and it was going to believe that is able to sustain like other reputable exchanges.
https://www.cryptonewsz.com/cryptocurrency-exchange/wazirx-review/

However, having this evading issue this makes everything in change...

“During the investigation it came to notice that the firm used to collect revenue from commission as trading fees, deposit fees and withdrawal fees. It was paying GST only on commission earned in rupee but was not paying GST on commission earned in WRX,” the press release stated, adding that GST at the rate of 18 percent is applicable on this transaction fees.

This certainly affects the credibility of the exchange and might lead to traders finding another one if they never resolve it as possible. Even last year, they faces an issue issue and they never had the chance to recover.

[Yaunfitda]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

I guess we can pinpoint that one of the reasons is that no one wanted to invest on it, simply as that. And there are a lot of crypto exchange token that investors can put their money like Binance that can multiple and we have seen in last year. And this is the sad truth, if you are not the prime movers of this so called crypto exchange token and you just follow the trend, chances are you are not going to get a good support just like what we have seen in this case.

[ZaMRoneY]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Well a lot of cryptos have been going down steadily few ups here and there but long run going down, I've started looking into new tokens that's currently in the trending niche after taking loss half year straight.  

The most noise lately has been coming from the gaming/metaverse section perhaps look into those niches. For example #Lunafi which brings safe gambling with low gas fees due to being built on Polygon to the metaverse with their own casino while offering yield farming the people who provide liquidity while gaining more annual rewards whenever someone makes a bet on their platform. Or another fundamental project for the gaming sector is $ENGN which allows developers to implement blockchain technology onto non blockchain projects without having to rewrite the whole base code, quite the time saving project might i add. Also they got a new shooter game that's around the corner coming in march, the trailer looked really addictive and it's built Unreal engine so you know it's gonna be a smooth and quality gameplay. While your token might explode on the next bull run i'd consider looking into the gaming niche as well.

[JeffBrad12]

Is not it a usual thing in crypto when a good coin faces a bad performance compared with another token? i know that you may have invested in this token but this token's performance totally depends on the exchange site's performance. I think that the point is what new development that already been made by the team of wazir exchange site. I know this is also a major exchange site in india but more and more innovation must be made. It seems like the token is lack utility.
This may become the reason why people are selling their wazir instead of holding it for long term. You can also take a look at the daily volume trade of this exchange site too.
I remember when this token got hyped last year and this time the situation is totally different.

[tabas]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Everything went down after bitcoin plummeted after reaching the ATH of $69k. No other reasons but when the market goes like that, see to it that all of the crypto assets are going to go down because of bitcoin. So if you're going to look at any reason why it has plummeted, the first reason is its relation with bitcoin. It's not the only altcoin that had fell down after hitting the ATH.

[cryptoaddictchie]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Were in the middle of a bear season. All coins and tokens have been plummeted bigtime. Of course thats not an exemption to wrx. Yes its an exchange coin, like bnb and kcs but they are also both go down. It just reflecting how bad the market was. It also depend on the aftivity on the market. Whether its coins and tokens have a lot of movement there and if they have some features that users kept using on wrx platform.

[Ketesnuko]

Maybe you have to wait when the regulation of the cryptocurrency industry can fully be happening in India and I think this is really coming soon...am expecting maybe 2023 everything will be finalized and came into effect. By that time, am sure that WazirX will doing enormous business in the huge India market and can mean that its own token will be going up dramatically - just like what happened with BNB. Now, it can mean a lot of months of waiting time but I think it can be worth it.

Instead of waiting for that long period of time it's smarter to use the dollar average cost method and get some wazirx coins, I remember when bnb used to be cheap we never thought for once that it can be as big as it is today.

[makishart]

Are you feeling frustate to see your token was getting under performance compared with another token? Sometime the price of token reflects the demand for the platform and project. Just because wazir was a popular exchange site caused by binance and it doesn't mean the price will always be at the top. You must also see another token owned by another exchange site again.
The crypto is very volatile and it can go up or down instantly. I think that the possible thing for you to use this token as your long term portfolios waiting for the price to recover.
I know how do you feel after seeing the price of this token was dropping a lot from its ATH.

[WalkerIVIV]

It's not only wazir but another exchange site was also facing the same downtrend. I think that people are wanna buying the token when they can get benefit from the existance of the token. Just like when you are able to staking your token, used it for launchpad, funding and many more. We do know that major exchange sites are also regularly accepting their tokens for the launchpad purpose.
I think that this is not gonna be for long term. Im sure that as long as the team can deliver a new innovation and the price will increase again.
The downtrend sometime was occuring but there was always a chance to increase again.

[Rengga Jati]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Same with TKO
But, this is not really bad because we also know that most altcoins are still dropping since the early year. Let's see most coins are right now still struggling very hard, moreover with the high volatility of Bitcoin that always give influence to the altcoin price.
Don't think too hard, if you can still hold the tokens, just hold it. They are exchange tokens that may have good fundamentals. Just consider the plus and minus of holding the tokens.
Be patient because the market still keeps struggling right now, facing all possibilities, FUD, and also sudden news that sometimes can drop and rise the crypto market as they like.

[CaVO32]

Wazirx is India's largest cryptoexchange. But for some time now, the value of its coin has been plummeting. Its all time high was about four to five dollars. Even though it has been going down for almost six to eight months now, do you know the reason?

Same with TKO
But, this is not really bad because we also know that most altcoins are still dropping since the early year. Let's see most coins are right now still struggling very hard, moreover with the high volatility of Bitcoin that always give influence to the altcoin price.
Don't think too hard, if you can still hold the tokens, just hold it. They are exchange tokens that may have good fundamentals. Just consider the plus and minus of holding the tokens.
Be patient because the market still keeps struggling right now, facing all possibilities, FUD, and also sudden news that sometimes can drop and rise the crypto market as they like.

If you are a holder, just keep an eye on this trading platform. Because most alts really going down this year because of the btc market. It may be the crypto market itself. But if you see the trading platform is getting stronger, then, the hope of recovering its value is there. But if the owners are leaving or disappearing or the support is not active, that's when you need to get worried and get out. But if not, keep holding.

[poonam8288]

It's normal but believes me it will still recover, that coin belong to a new crypto exchange and after the hype around the exchange the coin loses value, this is nothing new and once the exchange team starts introducing new features things will start going bad to normal. Don't give up wazirx is a good exchange.

I agree with what you have to say. But for some time now no new announcements of any kind have been made by the team of wazirx. From this it seems to me that the team is not active at the moment and if only a plan was made by them in the future then maybe now the wazirx token can go up now. Otherwise wazirx is a good exchange and I have been associated with it for the last two years.

[Kunnu]

I think people are loosing interest in wrx token this could be the big reason of the huge price drop of WRX the support of Binance exchange is playing an important role to give wrx strength to survive in the crypto currency market but this is not enough, the indian exchange will have to take solid steps by its own like providing good trading experience, customer support, security etc. because these all things decides the future of an exchange and its native token.