Crypto.com Integrates Reddit’s Moons Token, Leaving Kraken Rumors Behind

Key Points:

• Moons is now listed on Crypto.com causing its price to soar for two straight days.
• According to CoinGecko, the token is up 141% on the day, trading at $0.41, after already jumping triple digits on Monday on news that Kraken crypto exchange was considering a listing.
• Reddit Moons are ERC-20 tokens launched on Arbitrum Nova by Reddit in 2020 as part of their community points program, and are distributed to users based on their activity in the r/Cryptocurrency subreddit.

Moons have gained significant attention over the past few days after being listed on Crypto.com.

The listing on Crypto.com, in addition to other exchanges such as MEXC, Gate.io, SushiSwap, and RCP Swap, has caused the price of Moons to surge for a second consecutive day. According to Coingecko, the token has risen by 141% in a single day and is currently trading at $0.41.

The excitement surrounding Moons has been fueled by the news that the Kraken crypto exchange is considering a listing. Although Kraken has not confirmed their intention to list Moons on their platform, this possibility has caused many Reddit users to be bullish about the future of Moons. One Reddit user even commented, “It gets serious” in response to the news.

The listing on Crypto.com has sparked a frenzy on the already popular cryptocurrency subreddit (r/Cryptocurrency), which has over 6.5 million users. One post on the subreddit stated that “Crypto.com suddenly becomes the default for millions of Redditors”, highlighting the potential impact of this listing. Some users expressed their surprise at the success of MOON, with one writing “Did anyone else not expect to make it this far? Like I don’t know what to do, I didn’t plan for this.”

Moons are ERC-20 tokens launched on Arbitrum Nova by Reddit administrators in 2020 as part of their community points program. These tokens are distributed to users based on their activity in the r/Cryptocurrency subreddit and can be used for tipping between users. Moons are stored in a user’s Vault, an Ethereum-based digital wallet that was rolled out Reddit-wide last year.

Despite the news reports yesterday that Kraken staff were entertaining the possibility of listing Moons on their platform, the exchange has clarified that there is no such intention to do so, as of this writing.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.