WazirX announces it has reached USD 5.4billion in crypto transactions in April

WazirX, a platform for Bitcoin & cryptocurrency exchange platform, stated that it has reached USD 5.4 billion in crypto transactions volume in April. In December 2020, it has processed crypto transactions worth USD 500 million, witnessing a 10 times growth in 5 months. The company further stated that, its crypto transactions volume was USD 1.4 billion in January 2021, USD 2.1 billion in February 2021 and USD 2.4 billion in March 2021.The crypto currency market is rolling amid COVID-19 outbreak. The global crypto market capitalization has increased 10 times over USD 200 billion in March 2020 to more than USD 2 trillion today. But there is a fear that these assets are just attached with sentiments and no real value of cryptos are associated.

For instance, Dogecoin was inspired by a meme and its developer created it as a joke. But, over the past months, propped up by Musk’s hype-creation on twitter, it has now become the 4^th most valuable coin with a market capitalization of USD 64.7 billion.

Besides this, the WazirX platform has several lags in its mobile application and website. Several users raised complaint about this as they losses worth thousands. This happened as the price of Dogecoin begun to increase rapidly. Due to this, WazirX was unable to process several transactions at a time. This results in huge losses faced by the users.