WazirX Completes 5th Quarterly WRX Burn

By July 30, 20212 minute read
WRX Burn

Namaste Tribe! I’m thrilled to share with you that WazirX successfully completed WRX burn for the quarter of April – June 2021 today, 30th July 2021.

We burned 7,333,333 WRX equivalent to ₹61.2 Crores INR (~ $8.2 Million USD)! Share this

We burned WRX in 1 part, and the TXID is here.

This burn event has permanently removed $8.2 Million USD worth WRX from circulation. I’d also like to add that the amount of WRX burned this quarter is 95% more than what it was in the fourth quarter! ?

Till date, we’ve burned 21,786,665 WRX which is worth over $24.4 Million USD as of today!

The amount of WRX burned is tied to WazirX exchange volume and its growth. In the past quarter, WazirX crossed over $14.04 Billion in trading volume (from $6.1 Billion USD in the previous quarter) – the highest ever in the history of crypto exchanges in India! We also introduced a variety of new features and improvements to make WazirX more amazing for you, like:

  • Launched QuickBuy option
  • Launched WazirX NFT Marketplace
  • Partnered with SonyLiv to co-present UEFA 2020, and India vs. Sri Lanka cricket match
  • Prizes and giveaways worth over ₹1.5 Crores INR (~$209,000 USD)
  • 47 new trading pairs
  • Introduced our newest education partner

Here’s what the media has been saying about us:

https://economictimes.indiatimes.com/tech/technology/crypto-exchange-wazirx-launches-a-nft-marketplace-for-indian-artists/articleshow/81907370.cms

https://www.livemint.com/companies/news/wazirx-adds-1-million-users-in-april-eyes-10-million-overall-customers-by-june-11619592855903.html

https://www.freepressjournal.in/business/mysterious-world-of-cryptocurrencies-debunking-fears-myths-around-it

https://mad-over-marketing.com/wazirx-draws-clever-parallels-between-football-and-bitcoin-in-its-euro-2020-campaign/

The burn event is a good thing because as WazirX grows, so will the amount of WRX burned every quarter. This will lead to a reduction in the token supply, and an increase in the value of the token. Want to know more about token burn and its importance? Read this

We’re continuously working towards building more exciting features, and spreading crypto awareness among the masses. As we continue burning WRX periodically and its value keeps increasing, the early holders of WRX will benefit the most from it ?

Thanks for supporting us!

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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