WazirX's WRX drops 60% after Binance delist announcement, extinguishing hopes for a 'new beginning'

The significant drop in WazirX's WRX token (up to 60%) following the delist announcement from Binance has caused severe negative impacts on the project's standing in the market. The delist announcement from Binance typically leads to an immediate reaction from investors, exemplified by the withdrawal from altcoins, increasing the pessimistic sentiment in the community, which has also been observed from other altcoins when Binance made similar decisions in the past.

Along with the recent sharp decline, services related to the WRX token have also been affected, as WazirX has not received any token allocation from Binance and has not conducted any token burns for a long time. This further raises concerns among investors about the future of WRX and erodes hopes for a 'new beginning' for this token. The separation between WazirX and Binance also adds to the tension, leading to the withdrawal decision of many investors, putting additional pressure on the value of WRX.