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WazirX Token Drops 60% After Binance Delisting Announcement

WazirX Token Drops 60% After Binance Delisting Announcement

HappyCoinNewsHappyCoinNews2024/12/19 17:02
By:HappyCoinNews

After the stock exchange announcement Binance about the delisting of the WazirX token (WRX), its price fell by more than 60% in 0,2490 hours from $0,09893 to $18,80. At the same time, the volume of cryptocurrency trading increased by 31,18% and almost amounted to $XNUMX million.

WazirX Token Drops 60% After Binance Delisting Announcement image 0

WRX Price Chart

 

Representatives Binance explained the decision to delist the token from its platform by “a rigorous asset valuation process aimed at ensuring compliance with industry standards.” In addition to WRX, the exchange will delist the AKRO and BLZ cryptocurrencies. All of these assets will cease trading on December 20, 2024.

Exclusion from the lists Binance It wasn't just the WRX that was negatively affected. So, over the past 24 hours, token Sui fell more than 6%, while Hamster Combat lost about 8,2%.

The delisting of its native token is not the only problem facing Indian cryptocurrency exchange WazirX. After the platform was hacked in the summer and lost almost $235 million, the company has been facing ongoing legal troubles. The Delhi High Court is currently re-hearing a lawsuit in which WazirX is accused of serious security breaches. The next hearing on the matter is scheduled for February 13, 2025.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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