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**WazirX Announces Re-Opening of Crypto Trading Services**
In a recent announcement, the WazirX team confirmed that their platform is ready to reopen its cryptocurrency trading services. The exchange, which has been unavailable for over four months following a hacking incident, stated that it will relaunch with enhanced services and a recovery-driven approach.
The development comes after the company had announced plans to relaunch with regulatory approval. According to the latest update, WazirX is awaiting regulatory clearance before restarting its operations. The exchange also revealed that it would be introducing a new decentralized crypto exchange (DEX) alongside its re-opening.
In related news, the value of the holding funds belonging to WazirX customers has surged significantly since the last public update from the company. In response, WazirX plans to utilize these funds to distribute a type of centralized token called RTs to all users. This move aims to provide price stability for the token.
Meanwhile, Binance has announced that it will be delisting WazirX’s native token ($WRX) from its platform. The decision comes as a shock to many in the crypto community, with some speculating that the delisting is due to a decline in trade volume and decreased confidence in the $WRX token since the WazirX exchange has been unavailable for an extended period.
The development is not without controversy, with some critics calling out Binance’s decision as hypocritical. They claim that the exchange has profited from projects only to abandon them later, citing examples of similar instances where Binance had consumed profits and then discarded other crypto projects.
While WazirX works towards re-opening its services, this latest development may have significant implications for the cryptocurrency market. It remains to be seen how the community will react to these changes and what consequences they may have on the broader market landscape.
WazirX’s relaunch promises a new chapter for the exchange and its users, who will be eagerly awaiting further updates on the company’s plans and timeline for re-entry into the market.
Source: bitcoinik.com
