The conflict between Binance and WazirX don lead to big financial losses and WRX token decline
Binance wey decide to delist WazirX native token, WRX, don cause serious financial loss for WazirX customers, wey total na ₹170 crore ($20.4 million). WRX token don see serious drop for value, e don drop reach 95% wey e dey trade for $0.023 since December 2024. Dis financial wahala follow after cyber incident wey happen for middle of 2024, wey don already affect WazirX operations serious. Di delisting, wey dey part of ownership matter wahala, don complicate WazirX recovery effort further and make user losses worse. Binance timing for dis action don receive criticism wey dey say e dey worsen di situation. For di background of dis wahala, di wider crypto market, including Bitcoin and other major cryptocurrencies, don also face declines after di recent decisions from di US Federal Reserve.
Bearish
News dey show say di impact wey bearish wey don come from di delisting of WRX by Binance don cause big drop for di token value and plenty financial losses for WazirX users. Dis move dey happen after serious hack wey don make di platform unstable. Di combination of dis factors plus negative market sentiment from di recent US Federal Reserve decisions dey show say volatility and uncertainty for di crypto market don increase. Di failure to solve di ownership wahala between Binance and WazirX dey add another layer of risk wey fit discourage investors and traders, make dem still maintain bearish outlook.