Crypto.com announced that it will support the token swap for Stratis – STRAX. Therefore, deposits and withdrawals of the token will be disabled effective March 20, 2024. It will happen on the Crypto.com app and exchange platform at different times. Functionalities will be disabled on the app at 1:00 UTC and on exchange at 2:00 UTC. Trading will be paused until further announcements from the official channels of Crypto.com.
Notably, the swap to a new token will happen at a later date. Holders will allocate the new token in a 1:10 ratio. Deposits and withdrawals will resume on the StratisEVM Chain in Exchange and App. Target Price Orders and Recurring Buys will be automatically terminated, and orders for spot trading will also be canceled.
The conversion ratio is from old STRAX to new STRAX, available in the wallets of eligible users. While criteria are not listed about what makes a user eligible for the token swap on Crypto.com, it is safe to assume that it refers to those who have registered on Crypto.com and are actively participating on the platform, i.e., they hold the old version of the token.
Existing users may not have to do anything with their STRAX tokens, as the process will eventually automatically roll out updates to their accounts. In case of any issue or confusion, users are recommended to connect with the support team of Crypto.com at [email protected]. New users can register on the exchange platform or mobile application.
Registered users are eligible for other perks, too, like a one-stop shop, low fees, and easy conversion, to mention a few. More such perks can be read in our Crypto.com exchange review, along with details. It further sheds light on aspects that make Crypto.com stand out from the competition in the market.
The announcement has done fairly well for STRAX. The token has been down by 0.35% in the last 24 hours and is listed at $1.68 at the time of articulating this piece. It further reflects a rise of 2.69% in the previous seven days and an increase of 80.17% in the last 30 days. Its price is likely to fluctuate later this week, after which it should be good to recover losses, if any.
Crypto.com extends support for STRAX token swaps after listing Aevo on the platform. Users can now purchase AEVO conveniently by utilizing more than 20 fiat currencies. This includes EUR, USD, and GBP. Crypto.com supports more than 250 cryptocurrencies, including ETH, BTC, and DOT. A major reason why users prefer to buy tokens on Crypto.com is because it enables them to spend their holdings at 80+ million merchants across the globe via the Crypto.com Visa Card.
Stay on the lookout for the STRAX token swap on March 20, 2024. Wait for the official announcement before resuming deposits, withdrawals, and token trading.