Kraken Listing Rumors Drive Reddit Moons Token Up 72%

• According to CMC, the token’s price increased by 72 percent in the last 24 hours.
• Bill, a Kraken support staff member, pointed users in the direction of a submission form.

Users of the Reddit subreddit r/CryptoCurrency saw a significant increase in the value of their native token, r/CryptoCurrency Moons (MOON), on Monday after hearing rumors that Kraken, a cryptocurrency exchange, could list Moons. According to CMC, the token’s price increased by 72 percent in the last 24 hours, bringing it to $0.28 at the time of writing.

Reddit Moons are awarded to people for their contributions to the r/CryptoCurrency community. Tip exchanges between users are also possible. Users save their Moons in their Vault, Reddit’s Ethereum-based digital wallet that was released to the community at large in 2022.

A popular thread on the cryptocurrency-centric subreddit linked to an unauthorized Twitter account called r/CryptoCurrency Moons, which claimed Reddit has recently modified its policy on selling digital assets. Some of the excitement, though, was unwarranted.

An archived version of the website shows that the tweet promoting the overview of confirmed virtual products first appeared in May, therefore the news is months old.

Currency Listing Request Form

Nonetheless, a Kraken support staff member said Moons may be included in the exchange in the future, and others agreed. A significant shift for Moons, which is only listed on MEXC, Gate.io, SushiSwap, and RCP Swap at the moment.

If Kraken adds Moons, the community would highly likely switch to using it as their primary exchange. Bill, a Kraken support staff member, pointed users in the direction of a submission form for currency listing requests.

Whether or not the Twitter message was factual, it did highlight an important new development. In a blog post published last week, Reddit announced that it will be retiring its in-platform currency, Reddit coins, and ending the ability to buy and give medals as gifts.

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