- CMC reports that the trading price of a token is $0.48, up 67% in the last 24 hours.
- Most Reddit users are particularly optimistic because of the magnitude of Crypto.com.
Reddit users’ native token, Moons, has seen a meteoric rise in value after being listed on the crypto exchange Crypto.com. CMC reports that the trading price of a token is $0.48, up 67% in the last 24 hours. On Monday, after hearing that Kraken, a cryptocurrency exchange, was contemplating listing Moons, the price rose remarkably.
Most Reddit users are particularly optimistic because of the magnitude of Crypto.com, despite the fact that it is joining a number of other exchanges that currently offer the coin (such as MEXC, Gate.io, SushiSwap, and RCP Swap).
Huge Boost for the Exchange
The approximately 6.5 million subscribers of the cryptocurrency subreddit (r/Cryptocurrency) are in an uproar after today’s inclusion. It is now highly possible that these millions of users to rush to Crypto.com.
In 2020, the Reddit team created a community points system using an ERC-20 token Reddit Moons on the blockchain platform Arbitrum Nova. These tokens are used for tipping other users in the r/Cryptocurrency subreddit and are awarded to individuals depending on their involvement in that community. A user’s Moons are kept in their Vault, Reddit’s Ethereum-based digital wallet that was released to the whole community last year.
There was speculation in the media yesterday that Kraken could list Moons on its platform; however, the exchange has now denied any such plans.
Over the years, Reddit has emerged as a significant hub for proponents of digital assets. It was co-founded by Steve Huffman and Alexis Ohanian in 2005; Ohanian left the firm in 2020 to become a prominent figure in the crypto and NFT sector.
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