WRX Token Soars 18% After Supreme Court Dismisses WazirX Case – Here’s Why

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Well, well, well, look who’s decided to make a comeback from the crypto graveyard. The WRX token, once quietly gathering dust in the far, dark corners of India’s crypto scene, has suddenly sprung to life, all thanks to a brief, yet thrilling, courtroom performance.

It all kicked off on April 16, when WazirX’s token decided to stretch its legs. By the crack of dawn on April 17, it had surged almost 18% in just 17 hours. It wasn’t an explosive eruption—no, no, it was more of a gentle shuffle upwards, with a few dips here and there. But oh, the activity! You could almost hear the market whispering, “This is it. Something’s happening.”

By the time you could say “cryptocurrency volatility,” the token had gained around 3% in just the last 24 hours, trading at a modest $0.02386. But the real fun was in the volume—a 230% jump, crossing a staggering $104K. Meanwhile, the market cap is now sitting pretty at $9.1 million. Not bad for something that was basically lying around, snoozing in the digital ether.

So, what caused this sudden spike? Hold on to your hats—it was the Supreme Court, of all things.

On Wednesday, the court dismissed a criminal writ petition filed by some very upset WazirX users who were demanding action against the exchange’s co-founder, Nischal Shetty, and the top brass. But, surprise! The case barely got a chance to stretch its legs before the bench tossed it out. The court straight-up told the petitioners, “This isn’t the right place for this. Try somewhere else.” Cue the dramatic exit music.

“The Supreme Court has refused to entertain the plea… they’ve given us liberty to approach other appropriate forums,” said Priyanka Prakash, the lawyer representing the disgruntled users. No one knows what comes next, but it’s safe to say the legal circus is far from over.

However, the market didn’t hang around for that. Traders, apparently with a nose for drama, saw the dismissal as a sign of a little less legal heat on WazirX. Maybe things were cooling off? Maybe? Well, the price chart says yes, as it did what all good market charts do—showed a nice upward trend.

WRX hadn’t seen anything remotely resembling a pump in months. In fact, the last time it looked alive was back in July 2024, when a hack sent user trust crashing faster than a toddler on a sugar rush. But today, it’s like the token is finally taking a deep breath. Is this a new dawn for WRX, or just a brief moment in the sun? Only time will tell.

And let’s be clear, folks: the case isn’t over. It’s just been… redirected. But for now, WRX has a chart that’s worth paying attention to again. Grab your popcorn, it might just be getting interesting.

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2025-04-17 11:33