HomeNewsAltcoin NewsReddit's Moon and Brick Tokens Skyrocket on Kraken Listing

Reddit’s Moon and Brick Tokens Skyrocket on Kraken Listing

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Tokens Soar After Kraken Listing: Reddit’s Moon and Brick Shine

Reddit’s unique tokens, Moon and Brick, have surged in value by 69% and 398%, respectively, in the last week following their listing on Kraken, a prominent cryptocurrency exchange.

Kraken’s recent announcement on August 7th revealed that Moon and Brick are now available for spot trading and perpetual futures. As of now, deposits of these tokens are possible solely through the Arbitrum Nova network.

Unique Community Incentives

The Moon token originated as a community-driven initiative within the r/CryptoCurrency subreddit. It’s a token that rewards users for actively participating, such as making comments and posts. Moon tokens not only hold value but also offer exclusive features within the subreddit, like badges and emojis. Additionally, Moon token holders gain the power to influence the community through voting in polls.

moon currency price chart

Conversely, users conceived the Brick token for the r/FortNiteBR subreddit, which is associated with the Battle Royale game. Reddit Vault, the platform’s native crypto wallet, stores these tokens and distributes them based on users’ Karma (reputation points) every four weeks. Users can convert Bricks into special memberships and unlock unique features within the r/FortNiteBR subreddit.

brick price chart

Presently, the fully diluted market cap for Moon stands at $44.3 million, while Brick boasts a value of $17.0 million. In terms of community size, r/CryptoCurrency has an impressive 6.6 million members compared to r/FortNiteBR’s 2.7 million.

Reddit initiated its cryptocurrency venture in 2021 through the Reddit Community Points (RCP) program, designed to incentivize content creation. An interesting perk for token holders is that Reddit covers the gas fee associated with transactions. Furthermore, these tokens offer the chance to engage in governance proposals, enabling users to influence the development and features of the tokens.

Immersed in crypto since '18. Crafting insightful crypto news and analysis for Coinzene. Bridging the knowledge gap with every piece I pen. Your go-to writer for all things crypto.


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