Lucknow (CoinChapter.com): In a remarkable turn of events, Moon and Brick coin price, the brainchild of Reddit’s Community Points initiative, have skyrocketed, showcasing gains of 48% and a staggering 443%, respectively, within the past week. The surge came from their listing on the prominent cryptocurrency exchange, Kraken.
Kraken Announced Listing of Moon and Brick Coins
On August 7th, Kraken, a leading cryptocurrency exchange, dropped a significant bombshell by announcing the Moon and Brick coins listing. These tokens are now available for spot trading and perpetual futures on the exchange. Interestingly, these coins can currently only be deposited via the Arbitrum Nova network.
The Moon token, a driving force behind the Reddit Community Points initiative, has carved its niche within the r/CryptoCurrency subreddit.
Designed to reward users for their valuable comments and posts, the Moon token takes the concept of virtual rewards to a new level. The versatile token allows users to redeem it for badges and emojis. Additionally, it grants voting rights in community polls.
Another gem in Reddit’s crown is the Brick token. It finds its purpose within the r/FortNiteBR subreddit, home to Battle Royale Game enthusiasts. Bricks, the native cryptocurrency of this subreddit, is strategically allocated to users based on their Karma points every four weeks.
Users can exchange these Bricks for exclusive memberships and unlocked features within the gaming community.
As of the current publication, Moon boasts a fully diluted market capitalization of an impressive $44.3 million, while Brick follows suit with a solid $17.0 million fully diluted market cap. The r/CryptoCurrency subreddit enjoys an expansive community of 6.6 million members, significantly surpassing r/FortNiteBR’s 2.7 million members.
The Genesis of Reddit’s Cryptocurrency Movement
Reddit embarked on a groundbreaking journey in 2021 with the initiation of its Reddit Community Points (RCP) project, designed to encourage and incentivize content creators across the platform.
One of the standout features is Reddit’s commitment to covering the gas fees associated with transactions involving these community tokens. Furthermore, token holders wield influence through participation in governance proposals, shaping the future functionality of these tokens.
