WazirX to Resume Trading Oct 24; Phased Rollout & Zero Fees
WazirX, the Indian crypto exchange, will resume trading and crypto withdrawals on Oct 24, marking its first activity since a July 2024 $235 million hack. The platform implements a four-phase token listing from Oct 24–27, introducing 25% of assets daily in USDT markets before adding INR pairs. Zero trading fees apply for the first 30 days. INR deposits and withdrawals are already live, with crypto withdrawals reactivated upon launch. The relaunch follows Singapore High Court approval of parent Zettai Pte Ltd’s restructuring scheme. WRX token jumped roughly 32% to $0.099 and trading volumes rose 95%, reflecting renewed confidence. Bitcoin trades near $109,400, down 1.7% over the past week. Traders should monitor liquidity shifts, limit large orders early, and track official updates to navigate potential volatility.
Bullish
The relaunch of WazirX trading after a major hack, combined with a zero-fee incentive and structured four-phase token rollout, is likely to drive WRX token demand and boost trading activity. Singapore High Court approval of the parent company’s restructuring adds regulatory credibility and restores investor confidence. In the short term, traders can expect heightened liquidity and upward price pressure on WRX as tokens come online. Over the long term, stable operations, resumed withdrawals, and sustained platform usage could underpin continued growth in token value, supporting a bullish outlook.