Another interesting news coming in from Siddharth Menon, Co-Founder of WazirX showcasing the monthly trading volume in the exchange from January 2020, to January 2021.
As you can see in the images, the numbers reached $500 million in the month of December 2020. However, in January 2021, it has been only 12 days so far and the exchange has already crossed last month’s all-time high volume.
A close observation further reveals the consistent month-on-month growth in the exchange trading volume since last year. The native token of WazirX, $WRX is also approaching its next burn event soon and the volume of $WRX burned depends on the trading volume of the exchange over the last quarter. Last time, it burned close to 3,333,333 WRX in the 2nd burn event, which removed over $327,000 USD worth of WRX from circulation forever!
Later today, we also got a hind about the upcoming burn event from the Twitter handle of WazirX. We all can imagine how massive this upcoming event is going to be considering the consistent growth in trading volume over the exchange.
How is Volume of Trade Expressed?
Every exchange tracks its trading volume and provides volume data. The volume of trade numbers may be reported as frequently as once every hour throughout one trading day. Trade volumes that are reported on an hourly basis are estimates.
Similarly, the volume of trade reported at the end of a trading day is also an estimate. The actual figures are not made available until the following day.
You can Google looking for the trading volume of WazirX in order to get a better understanding of the same.
How To Trade Bitcoin in India
- Download the WazirX app or visit the website. Then hit the Sign Up button
- Fill in your email address (one that you use frequently), and your desired password
- Click on the Terms of Service checkbox, but go through it once before checking
- Then press the Sign Up button
- You will be sent a verification email after hitting the sign-up button. If you have received it, click on Verify Email to complete the process.. If you haven’t, check your spam folder. Or hit Resend Here.
I really hope this article excited you 😃.