WazirX Indian Exchange Remains Strong Despite RBI Ban
The important Indian cryptocurrency exchange WazirX is now six month old after launching with very positive results. Trading volumes in the platform have increased every single day, which is quite promising considering the bear market and the difficult situation of the cryptocurrency space in India.
Back in April, the Reserve Bank of India (RBI) decided to issue a circular to banks to stop working with businesses and people dealing with cryptocurrencies. The company said that they are determined about their goal and that they want to build WazirX into the largest exchange in the Asian country.
4 Weeks after launching, WazirX registered its highest trading volume. When the team saw such an important and positive result, they decided to launch a Maker-Taker model, seeing an increase of 140% in the number of trades in just one week.
Between the weeks 12 and 13, crypto to crypto trading arrived at the platform. Later, they unveiled the WRX mining rewards and crossed 50 BC volume during the next two weeks.
At the moment, the exchange has not been listed in CoinMarketCap, but in the future it may be featured on this site. Currently, WazirX is giving away 150 million WRX coins to early adopters and traders of WazirX. Early recipients of these coins are going to be Indian citizens.
Clearly, the exchange is moving in the space and trying to grow. It is completely focused on their goal to become the most important crypto exchange in India.