Reddit’s community altcoins, Moons (MOON) and Bricks (BRICK), have seen a major uptrend after Kraken, one of the largest centralized cryptocurrency exchanges in terms of trading volume, announced their listing.
Rapid Increase in MOON and BRICK Prices
MOON, the service token of Reddit’s r/CryptoCurrency community with over 6.5 million users, has surged over 47% in the past 24 hours, reaching $0.42. On the other hand, BRICK, the service token of the r/Fortnite subreddit, has experienced an approximately 50% increase, reaching $0.4 in the past 24 hours. Furthermore, the price data indicates that the upward trend is still ongoing.
MOON is an ERC-20 token distributed as a reward for comments or posts within the r/CryptoCurrency subreddit. Users can store both MOON and BRICK in their Ethereum-based wallet called Vault by Reddit. They can freely trade, tip, or spend them within the community for various purposes, including unlocking special features like badges and GIFs in comments and influencing poll votes. BRICK serves a similar purpose within the r/Fortnite subreddit.
Kraken Had Given Listing Signals Weeks Ago
Kraken’s decision to list MOON and BRICK came weeks after the exchange’s support team hinted in a r/CryptoCurrency subreddit that the cryptocurrency exchange is always open to listing new tokens/coins. This hint increased speculations about the eventual listing of MOON and BRICK, raising expectations for the listing of either both altcoins or one of them.
Kraken and Kraken Pro users can currently buy and sell both altcoins in the spot market against the US dollar and Euro. Additionally, it is possible to engage in perpetual futures trading for MOON with the MOON/USD pair. However, Bricks perpetual futures trading has not been initiated yet.
