wrx token going continue down, why? | Bitcointalksearch.org

btc78

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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 think this is because the Indian Government new regulations about taxations? in which lowering the Use of exchange from that country ? and some investors might getting in some place where they can keep safely their coins and not in obviously Indian connected exchanges .

Quote from: gamer4156 on March 28, 2022, 11:24:34 PM

You might actually investigate some neighborhood trade site also. their tokens have a similar presentation. Local monetary forms when down altogether over the most recent couple of month and constantly, numerous clients were blur up with their tasks and many lost their asset. crypto trade token and you simply pursue the direction, odds are you won't get a decent help very much like what we have found for this situation.

maybe it is not only the neighborhood trade , but also the neighboring exchanges .

Retainly_Collie

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...In case of Wazirex grows much bigger than today's level, everything is possible but it is unlikely gonna happen in the next 2-3 years, IMO.

I feel the same way, as India tightens its grip on crypto-related actions. I also just heard that they just released a notice to catch tax evasion money from the exchanges. Looking at the current trend, perhaps we should also be more optimistic about this market as things are recovering significantly, so I think there is still a chance for it to do better next time thanks to the market trend. school without taking a long time.

gamer4156

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You might actually investigate some neighborhood trade site also. their tokens have a similar presentation. Local monetary forms when down altogether over the most recent couple of month and constantly, numerous clients were blur up with their tasks and many lost their asset. crypto trade token and you simply pursue the direction, odds are you won't get a decent help very much like what we have found for this situation.

milewilda

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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?

According out into my research which do mainly talks about past events on this exchange on which it does have those trading service went down for quite some time on which it did result into a
very common scenario where users or supporters doesnt really like that kind of thing on which it would really be normal that demand would really be lessening overtime
and thats whats happening to Wazirx and into its token.It would be basically talking all about demand in regarding with this case speaking with token price or value.
If less demand then expect less and same goes on otherwise.

mdzahed134

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Quote from: Kunnu on March 17, 2022, 01:35:00 AM

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.

Not only WazirX others all of the coins even top ranking coin was downtrend, but from the yesterday BTC is going increasing, So that most of the altcoins also started pumping, such as WRX pumped 5% right now. I don’t agreed with you an investors aren’t satisfied with WRX and this is the reason it’s price was dumped. WRX is still reliable exchange coin if you wanna to invest here for long or short term.

Xal0lex

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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?

To begin with, we should have asked ourselves, why did this token grow? Were there adequate reasons for its growth? Of course not, it's a pump-and-dump token that they decided to use for short-term speculation. The token is not going down, but back to its natural price. I usually see charts like this around scam projects where almost all ivnestors lose their money.

This token does not deserve any attention at all.

Victorik

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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 don't think it is pecular to wazirx alone. A lot of coins are generally down, some have even done a -90%.
Have said that, the coin has the potential of coming back strong.
In 2020, I sold off my wazirx because it went down bad, and when it was up to my initial capital, I foolishly sold off. Days after, the price of that token skyrocketed from about 18cents to 2$, I almost went mad. So don't make that same mistake.

jrrsparkles

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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?

If I am not wrong WRX bumped overnight and people who are holding that coins became rich but after that everyone dumped it so price starts to decrease gradually now its just one of the token from exchange, in future it may grow but no one has the crystal balls to find out what will happen in future but the reason for decrease in price is dumping.

Questat

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Quote from: gurunanakji777 on March 22, 2022, 07:34:27 AM

Not only WRX coins majority of the Altcoins drops in the last 6 months time I believe it will bounce back as the WRX exchange is also growing so I expect the value will also increase by the time but in the current time we listen every now and then about the imposing tax on cryptos in India is also one of the reasons for drop it is purely my thinking still I would say WRX has potential to overcome all the hurdles in the future.

Not, likely because it was surprising that a known exchanger will drop. It is a wild guess why it goes like this and might people be right that this was due to the market drop affecting the crypto market in general.

https://zeenews.india.com/photos/business/5-popular-cryptocurrency-exchanges-in-india-2386786/wazirx-2386791

Assuming that this was because of the market drop, however, this can't be taking so long, recovery will show somehow as the market is started to recover.

Flexystar

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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?

When they finalised the budget in India, I think they made it clear that Crypto is no more illegal in India and thats why soon after Indian Market was flooded with huge number of crypto exchangers. They have put great deal of investment into the apps, promotions and web versions of exchangers.

Honestly speaking they are far better than WazirX as far as the review sites are telling. The problem with the later one is, they are not evolving at all. All they are doing is spending on in app purchase promotions. They have no advertisements running elsewhere or on the TV commercials and they are not even being sponsors in the games in India. This is being done by other Crypto Exchangers and thats why they are gaining more popularity.

This is why WRX is not the next big coin anymore. People are taking out the investments out of it.

gurunanakji777

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Not only WRX coins majority of the Altcoins drops in the last 6 months time I believe it will bounce back as the WRX exchange is also growing so I expect the value will also increase by the time but in the current time we listen every now and then about the imposing tax on cryptos in India is also one of the reasons for drop it is purely my thinking still I would say WRX has potential to overcome all the hurdles in the future.

eaLiTy

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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?

The all time high you are talking about only lasted for a few minutes. I was watching the rally and i was surprised to see the rally to begin with because i was holding a large number of coins and the beauty of that is the coins i was holding were dropped to me by the exchange because i was trading large amount of coins and hence it was a bonus for me and i booked my profit and after that i am having the coins as they keeps on unlocking the coins but i am not touching them unless we see a trend reversal.

MFahad

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Quote from: Tahsin Kabir Kollol on March 20, 2022, 12:28:26 PM

There are a number of reasons why the value of a token can go down. Since it is an exchanger-dependent token, its future depends a lot on the success and failure of the exchanger. A potential project is able to reach its goal by overcoming various obstacles if there is teamwork behind it. Since the token is based on an Indian exchanger, it can be said that since cryptocurrency is not very popular and legal in India at present, its acceptance and value may increase over time.

I saw many time that whenever any good news or bad news happen in india about crypto its directly impact on Wrx price whether market bear or bullish.
The team is working hard on Nft system amd if they succeed i believe that price will be recover and holder will be enjoy that.

Tahsin Kabir Kollol

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There are a number of reasons why the value of a token can go down. Since it is an exchanger-dependent token, its future depends a lot on the success and failure of the exchanger. A potential project is able to reach its goal by overcoming various obstacles if there is teamwork behind it. Since the token is based on an Indian exchanger, it can be said that since cryptocurrency is not very popular and legal in India at present, its acceptance and value may increase over time.

amishmanish

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The answer lies in your question. It is "India's" largest platform. This means that the news of 30% taxes from April has led several of the investors to cash out. This would have led to the downturn in an already bear market.

WazirX as a platform has good fundamentals and they have jumped in pretty eagerly onto the NFT space. They are one of the few platforms that don't wait before jumping into these new things and I think they will eventually do well as regulations clarify.

Of course you shouldn't invest based on my or anybody else's opinion. I don't think the token per se has any utility other than being a cash cow for the platform. Yet, nothing stopped BNB from pumping.

Jackl87

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Quote from: poonam8288 on March 16, 2022, 12:29:27 AM

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 don't really know to much about that exchange to be honest as i have not used it before and i also have to admit, that i even did not hear about it before, but that does not mean much. I would not worry to much about the price of it's token at the moment as we are still in a very shaky market right now and even though Bitcoin and the big Altcoins increased in value in the last few days they are still miles away from their ATH's of may 2021. We need a longer phase of a stable market that goes sideways and once we have achieved that i think that also smaller cap coins can slowly but surely begin to rise again. The important thing at the moment is, that the exchange keeps up working as intended and is satisfying their customers.

tbterryboy

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Well, most coins in the market has been losing their value for quite some time now. I would say you should have patience for now, maybe with time it will go up again. Unless it is steady losing value every day, in that case I would say maybe it is best that you withdraw your money from the coin and maybe invest in another cryptocurrency or maybe hold it in a stable coin while you continue to wait and see what happens next.

Quote from: TribalBob on March 18, 2022, 09:50:27 AM

as we know altcoins follow btc, so every time altcoins go down, you don't have to worry about it because it's normal for btc etc to go down. warzix will return to normal if a little pump. from the dev side when bitcoin is back up and normal reaches a new ath

So many coins these days do not have any correlation with Bitcoin and that means they wouldn’t be going up if Bitcoin is going up. They would just be making a move that is totally unrelated with Bitcoin’s market.

Since, I am not so sure of this cryptocurrency and this is the first time I’m getting to know about it, I wouldn’t really say that it is good or bad, but if the he truly believes that majority of Indians are making use of this particular exchange, then it might be worth holding. But, sometimes some of these exchanges can fake their trading volume or information like that and you will never be able to tell whether they are truly what they are or not.

ajochems

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Since you had mention as a token.It's token, So you can able to buy at any value. Even below 1$ or 0.1$Many of the stable coin was became a less. It's essential for hold all your coin for now. When the market back to old value, you can buy anything now for long term investment.But you should The price of warix was low. It's like crypto other country. It was an additiional benefit to onverse your money.

tygeade

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Quote from: Rengga Jati on March 16, 2022, 06:33:28 PM

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.

It seems that all Indian based crypto/exchange are down? What is happening to them. Is there are an issue again with the legalization of cryptos in India? Because, they always have an issue with cryptos before and how many times they allow and disallow it. 6 to 8 months of down for wrx is a long time and looks not normal anymore. The cryptos dumps have started on December last year and lasted only about 4 months because after that we have seen cryptos are now recovering.

Wrx should also recover that time. The overall market of cryptos are not fully recovered yet so maybe you can extend your patience too for wrx coin but once return to normal and this coin still down, that's the time to dump it too.

evilgreed

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One thing you can look at is the overall situation of the market which isn't really that good. So coupled with maybe bad service, the price dump may have been worsened by the current market conditions. Exchanges of not comfortable to use nowadays will not rake in much traffic. Let's face it there are better choices out there for comfortable experiences in trading. As an exchange, better excel or stop.

Topic: wrx token going continue down, why? (Read 310 times)