Crypto.com to Support Ethereum Arrow Glacier Network Upgrade

Crypto.com recently announced its support of the Ethereum Arrow Glacier Network upgrades. The well-known crypto and payment platform suspended the withdrawal and deposit functionalities for Ethereum on 9th December to support the upgrade.

It has not been long since Ethereum released its much-awaited EIP-1559 London upgrade. The upgrade accompanied significant changes, steering the network towards a new path. That is why the market has keenly followed the network ever since it announced the Arrow Glacier upgrade.

Crypto.com’s support for the upgrade also encouraged several users as they looked for a Crypto.com review to assess its functionalities. Ethereum introduced the latest upgrade after reaching the 13773000 block height. The objective behind Crypto.com suspending deposits and withdrawals is to ensure the safety of customers’ assets.

Besides the standard ETH transfers, the crypto platform also restricted ERC20 tokens’ deposits and withdrawals. It included names like USDC and USDT, for which both Crypto.com Exchange and Crypto.com App stopped the deposits and withdrawals.

The platform released an official blog to address the situation, which confirmed that the latest upgrade would not affect ERC20 tokens and ETH trading. However, Crypto.com keenly monitors the upgrade and plans to resume withdrawals and deposits at Ethereum’s disclosure. 

Users can also follow the status of the update at status.crypto.com. The crypto platform recently listed Gods Unchained and JasmyCoin tokens, adding to its 200+ cryptocurrencies. The listings came right after Crypto.com offered exclusive soft staking rewards for institutional users and retail VIPs.

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Given the platform’s stature and market reach, the community expected Crypto.com to support the upgrade. As Ethereum gains more market traction, Crypto.com’s prompt compatibility will undoubtedly increase its clientele as well.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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