The crypto market still has great growth potential in the long term.
Since in many countries the vast majority of people are far from this topic or have a negative attitude.
Let's take India as an example, a country with a population of more than 1.4 billion people.
This is the most populous country on the planet and the number of its inhabitants occupies more than 18% of the total population of the Earth 🇮🇳
We were personally in India last month and, of course, talked with locals about investing in cryptocurrency.
To our great surprise, the majority of people in our sample are categorically against cryptocurrencies and they explain this by the fact that they have a lot of trust in local banks.
But you and I know from living example that trust in banks will evaporate very quickly if they start having problems 😃
Therefore, it is only a matter of time before the adoption of cryptocurrencies among Indian residents.
We've sorted out the prelude, let's move on to the topic of the post.
⛔️ Blocking crypto exchanges in India
In India, over the past 2 years, access to all known crypto exchanges has been blocked (we checked it personally when we were in this country).
Just yesterday, access to the latest popular exchange OKX was closed.
And all this so that Indian residents can trade on the local crypto exchange WazirX, access to which is naturally open.
🔍 The most interesting thing is that this “local” exchange essentially belongs to the largest exchange on the planet Binance.
Since 90% of the user assets of the Indian exchange WazirX are in Binance wallets - according to Proof Of Reserves.
The same case applies to Russia, where Binance allegedly left this country and transferred all assets to the CommEX exchange.
But in essence, these are all Binance gaskets created for close cooperation with local regulators 🤷♂️
🤫 Exchange token of the WazirX exchange
Now let's move on to the most interesting part.
Since access to all popular exchanges is closed in India, local residents are forced to trade on the local WazirX exchange.
This exchange has its own exchange token WRX, which we already talked about in one of the previous posts 👉WRX. Candidate or not?- be sure to brush up on your memory to understand the tokenomics of the coin.
❗️ In this post we recommended buying the coin and since the post the coin has already given more than +71% profit.
Just look how the price of the coin follows our arrow.
Now, after a while, this token fundamentally began to look even more attractive for the above reasons.
The WazirX exchange has essentially become a monopolist in the Indian market and obviously they will actively promote their token within the platform.
📊 Conclusion:
It’s not too late to buy the WRX exchange token and in case of strong drawdowns you just need to increase this position.
The coin will be forced to grow in the medium-long term, since the WazirX exchange is a local monopolist, and the tokenomics of the coin is structured in such a way that growth is simply inevitable.
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