WazirX Token Plummets 39% Amidst Operations Shift to Panama

WazirX, a prominent cryptocurrency exchange in India, has experienced a drastic market downturn. The platform’s native token WRX plummeted by nearly 39% within just 24 hours, leaving its value at $0.02079. This significant drop follows news of the company’s move to Panama. According to CoinMarketCap data, WazirX’s market cap has fallen to $7.94 million, while trading volume surged by 127% to $379.39K in just a single day. The steep decline is attributed to panic selling rather than increased demand.