WazirX Token Price Plummets After Binance Delisting
- The WazirX token’s price fell more than 60% in 24 hours after Binance’s delisting announcement.
- WRX, AKRO, and BLZ will all be delisted from the Binance platform.
- WazirX has faced challenges since its $230 million hack earlier this year.
The WazirX (WRX) token experienced a significant drop in value following the announcement by Binance, the world’s largest crypto exchange, regarding the delisting of the native WazirX token.
Binance, known as the largest global cryptocurrency exchange, made the decision to delist the WRX token along with two other tokens, leading to a sharp decline of over 60% in the price of the digital asset.
Delisting Details
Binance announced the delisting of WRX, AKRO, and BLZ from its platform. By December 25, the exchange will remove the trading pairs WRX/USDT, AKRO/USDT, BLZ/USDT, and BLZ/BTC.
Challenges Faced by WazirX
Aside from the impact of the Binance delisting, the WazirX token has been dealing with price fluctuations and negative sentiment since the $230 million hack that occurred earlier this year on the India-based crypto exchange.
Following the hack, a petition was filed to initiate new criminal investigations related to the incident. Customers have been critical of the exchange’s response to the hack, prompting the Delhi High Court to order a fresh probe into the allegations against the exchange.
The court has requested a new status report by February 13, 2025, in response to security concerns raised by the crypto community. Despite plans to resume operations, WazirX’s management is under scrutiny for the security breach that led to the $230 million loss.
Following these developments, the WRX token’s price dropped significantly, reaching a low of $0.09459 after hitting a 24-hour high of $0.2479. The ongoing hack issue and Binance’s delisting have contributed to WRX trading at over 98% below its all-time high of $5.88 in April 2021.
