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The community tokens on Reddit, MOON and BRICK have surged over 100% and recorded new highs following its listing on Kraken exchange. The leading crypto exchange has listed both tokens in the spot and futures market.
New tokens available on spot and futures:
Deposits and withdrawals enabled
*geographic restrictions apply
Learn more
https://t.co/YXpsmzpIJ4 pic.twitter.com/YPNqaA4AMh
— Kraken Pro (@krakenpro) August 7, 2023
The listing was anticipated as previously an official representative from Kraken hinted possible listing of the tokens when Reddit updated its terms allowing community points to be tradable.
MOON, of subreddit r/CryptoCurrency and BRICK from r/FortNiteBR are both among the most popular community tokens on Reddit.
Following the announcement, MOON spiked from $0.28 to as high as $0.46 in the last 24 hours. BRICK token has also surged to $0.07 which was trading at nearly $0.025 before listing, spiked more than 100% within 24 hours, according to CoinMarketCap.
Also read: Huobi’s TVL Falls to $2.5B Amid Rumors of Insolvency
MOON is rewarded to users on r/CryptoCurrency for their contribution while BRICK is rewarded on r/FortNiteBR based on the karma points a user gains.
Both MOON and BRICK are based on the ERC-20 token standards with community specific use such as buying profile badges for their Reddit profile or becoming a premium member in the community.
Its listing on Kraken exchange provides both tokens with a new narrative for growth alongside thousands of other crypto assets in the market.
Back in July, leading crypto exchange Crypto.com also listed Reddit’s MOON token which is now available to trade on 16 different markets.
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