Binance announced that WRX token will be delisted from Binance exchange by 25 December 2024. This is great news for crypto users. The funds shared by WazirX in its finance report mean which tokens are left. WazirX currently holds tokens around 83 million. Whose value becomes $13 million.
Now why does delisting of Binance matter so much?
Because Binance was such an exchange where WRX token had a lot of liquidity. When Binance delists any token, the liquidity of that token does not remain that much. WRX is listed on other exchanges but you will not get as much liquidity there as you have on Binance. This amount is $13 million, it can go down further. It is not known what will be the condition of the token that users will get. WazirX has said that users who hold the token will get the same token. Those who hold the WRX token will get the WRX token only. What will be the price then, which can create a problem.
WazirX (WRX) Token Price
Ever since the WazirX exchange was hacked, the WRX token has gone up very fast in the last one month. It has gone up from around $0.1 to $0.35, almost 3 times more. It also needs to be seen what is the reason behind this. Retail users read some news but no such news is visible. Sometimes such pumps are organized by someone, so that exit liquidity can be obtained. By doing this, they are dumped on retail users.
One thing has ended completely due to this, people were thinking that Binance would come and save WazirX exchange but that hope is completely over. By delisting, Bianace has told that it has nothing to do with the WazirX exchange. The answer to the question how it jumped from delisting a month ago will have to be found. Who did this, this question is still raised. Many people must have been trapped due to this. Users must have bought it in FOMO. Right now its price is coming down. It remains to be seen what will be its price when users will get the hacked WazirX tokens.