Following the fall of the CRO, Crypto.com reconsiders its decision and reconsiders its offer

Crypto.com’s Reducing Benefits Badly Received

We were telling you about it yesterday, Crypto.com has totally reviewed its offer concerning the different payment cards it offersreducing quite significantly the advantages that the latter offered, in particular in terms of cashback and staking rewards.

However, the reactions were not long in coming, how can the countless negative comments under the announcement tweet, whose effective changes are scheduled for June 1.

The price of CRO, which has been trending down since hitting its all-time high (ATH) of $0.89 in November 2021, dropped significantly after the announcement. It thus reached its lowest value in the last six months, at $0.27.

14 Day CRO Price

In other words, the 22nd largest cryptocurrency in terms of market capitalization has lost 31% of its value in the space of a week.

πŸ‘‰ Find our file dedicated to Crypto.com (CRO)

The advantages reviewed a second time

So, in the face of discontent from the Crypto.com community, Kris Marszalekthe company’s CEO, took to Twitter to announce that they were finally going review staking rewards again.

β€œTherefore, we are reviewing the card staking rates. […] Instead of completely eliminating staking reward pay rates, we’re offering a more balanced approach: 8% annual interest for private members (Obsidian, Icy White, and Frosted Rose Gold), 4% annual interest for Royal Indigo and Jade Green cardholders. Β»

The modified reward system still offers rewards lower than those currently in placeand the reactions to the CEO’s tweet are rather mixed, some users have announced that they have already found a more interesting competitor.

Some card providers dedicated to the world of cryptocurrencies were quick to take advantage of the opportunity, as Plutus who did not fail to make a tweet not without irony:

“Your rewards have been reduced?” Looking for a new crypto card? Don’t worry, we’ve got you covered! Β»

As already stated during the announcement made on May 1, this drop in rewards for Crypto.com cardholders aims to ensure β€œ long-term viability of the company.

It remains to be seen how the community will react to this new change in the coming days. The price of the CRO token is slightly reassembled after the announcementwith a current price of $0.29.

πŸ‘‰ To go further: Crypto.com (CRO) financially supports MIT research on Bitcoin (BTC)

Source: CoinGecko

Chart source: TradingView CRO/USDT

Newsletter 🍞

Get a crypto news recap every Sunday πŸ‘Œ And that’s it.

About the Author : Maximilien Prue

twitter-soothsayerdata

Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien PruΓ©.

Leave a Comment