- 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:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.