According to CMC, the token’s trading price is $0.48, experiencing a remarkable 67% surge in the last 24 hours. Reddit users are highly optimistic, mainly due to Crypto.com’s significant influence in the crypto space.
After being listed on Crypto.com, Reddit users’ native token, Moons, witnessed a meteoric rise in value. CMC reported the token’s trading price at $0.48, surging by 67% in the last 24 hours.
The price experienced a remarkable increase on Monday following rumors of potential listing on Kraken, a cryptocurrency exchange.
Reddit users remain optimistic about Moons, mainly due to the influence of Crypto.com, even though several other exchanges like MEXC, Gate.io, SushiSwap, and RCP Swap already offer the coin.
Exchange Sees Huge Increase in Trading Volume
Today’s inclusion of Moons on Crypto.com has caused a stir among the subreddit r/Cryptocurrency’s approximately 6.5 million subscribers. It is highly likely that these millions of users will rush to Crypto.com in response to the development.
In 2020, the Reddit team introduced Reddit Moons, an ERC-20 token on the blockchain platform Arbitrum Nova, creating a community points system. These tokens are utilized for tipping other users in the r/Cryptocurrency subreddit and are awarded based on users’ engagement within the community. The tokens are stored in users’ Vaults, Reddit’s Ethereum-based digital wallet, which was made accessible to the entire community last year.
Media speculation emerged yesterday suggesting that Kraken might list Moons on its platform, but the exchange has now officially denied any such intentions.
Over the years, Reddit has become a major hub for digital asset enthusiasts. Co-founded by Steve Huffman and Alexis Ohanian in 2005, Ohanian left the company in 2020 to become a prominent figure in the crypto and NFT sector.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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