No more Dogecoin, Shiba Inu and Tezos rewards says Crypto.com
- Crypto.com is cutting Dogecoin, Shiba Inu and 13 other cryptocurrencies from its staking rewards program.
- The exchange announced the integration of Apple Pay to power cryptocurrency payments through the digital wallet service.
- Cronos price plummeted as the exchange excluded meme coins from Earn.
Crypto.com made significant changes to Crypto Earn, the product that allows users to stake their assets and earn rewards in exchange. Shiba-Inu-themed meme coins and several other cryptocurrencies were pulled out of the program and FTM, ZIL, and NEAR were added.
Crypto.com removes Dogecoin and Shiba Inu from Crypto Earn
Crypto.com, the leading cryptocurrency exchange, announced a revamp of its staking rewards program Crypto Earn. Effective June 27, 2022 10:00 UTC, the exchange announced the removal of Dogecoin, Shiba Inu and thirteen other tokens from its program.
New tokens FTM, ZIL and NEAR were added and rates were revised. FTM can be staked for up to 5% p.a, ZIL and NEAR for 6% p.a. Reward rates were revised for select stablecoins as well. Check the following table for new rates:
Revised rates for Crypto Earn
Select tokens, Shiba Inu (SHIB), Dogecoin (DOGE), Tezos (XTZ), Maker (MKR), EOS, OMG, FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX and BNT. The existing fixed-term allocations for these tokens remain unchanged until the end of the term and funds from active flexible-term allocations will be automatically returned to users by June 28, 2022, 10:00 UTC.
Crypto Earn changes effective 27 June 2022:
— Crypto.com (@cryptocom) June 27, 2022
✅ $FTM, $ZIL and $NEAR are now available for Crypto Earn
✅ Select tokens no longer available
✅ Revised rewards rates for select stablecoins pic.twitter.com/cqkklGHZC3
Crypto.com integrates Apple Pay for crypto purchases
Crypto.com announced the integration of Apple Pay onto its platform, allowing users to purchase crypto quickly and securely. In a new blog post, published on June 24, 2022, the exchange outlined the integration of Apple Pay and explained that the method would be used to purchase crypto within Crypto.com.
Current debit and credit card fees and trading limits would apply and users should first add their credit/debit card details to their Apple wallet on their iPhone. Once the bank card is updated to the wallet, users can quickly make crypto purchases on the Crypto.com app and pay for them securely through Apple Pay.
Cronos price plummets after Dogecoin and Shiba Inu removed from Earn
Cronos (CRO), the utility token of the Crypto.org chain, witnessed a price drop since the update announcement on Earn. As the exchange pulled Dogecoin and Shiba Inu out of the program and revised rates, users slammed the platform for the move.
Crypto analyst at HueFin evaluated the Crypto.com price chart and believes it is the beginning of the bottom for CRO. There are no indications of a rally in the three-month chart and the analyst argues that CRO price could plummet lower.
FXStreet analysts believe there is no rush to scoop up CRO at the current price level. For more information, watch this video:
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
