The controversy has drastically reduced WazirX’s trading volume, and industry experts expect that it may soon influence the trading volumes of other exchanges as well because of a lack of confidence among cryptocurrency investors.
According to Nomics, a provider of cryptocurrency asset analytics, WazirX’s volume plummeted from $6.8 Mn on August 4 to $3 Mn on August 11, a decrease of more than 50%. Dileep Seinberg, the creator and CEO of the cryptocurrency financial platform MuffinPay, asserts that such events will unquestionably affect investor sentiment.
