Crypto.com has removed Shiba Inu and Dogecoin along with 13 other tokens from its rewards program. In the Twitter announcement, Crypto.com also revealed the addition of FTM, ZIL, and NEAR tokens to its compensation package.
Following this announcement, DOGE and SHIB are down 7% and 5% respectively.
DOGE and SHIB suffer casualties
Following the announcement, DOGE is down more than 7% to hit $0.07209. Just yesterday, DOGE looked set to break through the resistance at $0.077 and even hit $0.0934. following reaffirmed support from Elon Musk, who revealed he was still buying DOGE.
On the other hand, SHIB is also down more than 5% to fall to $0.00001095. The Shiba Inu was also showing a substantial upward trend prior to the news. SHIB had also overtaken TRON and DAI to become the 12th largest cryptocurrency by market cap. However, following the fall in price, it fell back to the 14th place it previously held.
Crypto.com will stop offering memcoin rewards
Apart from DOGE and SHIB, Crypto.com also removed 13 other tokens from its reward program. XTZ, MKR, EOS, OMG, FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX and BNT are the tokens that have been removed from the Crypto.com Earn Program.
Earn is Crypto.com’s program where users can allocate their tokens for daily rewards. Earn supports many popular tokens such as BTC, ETH, USDT, USDC, etc. and reward rates are up to 14%.
Crypto.com assured that the existing fixed-term allocations for the delisted token will continue until the end of the term. Additionally, funds from any flexible term allocation for these tokens will be returned to the user’s Crypto.com wallet.
The company also announced the pay rates for the newly added tokens. The rate for FTM is 5% per annum and 6% for ZIL and NEAR. Private Crypto.com users are also entitled to an additional 2% per year on fixed-term allowances.
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