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Reddit Moons and Bricks Soar More Than 50% After Listing Kraken

Key Points:

Kraken’s listing boosts Reddit’s MOON and BRICK tokens, sparking significant value surges.
Kraken enables spot futures trading for MOON and BRICK with USD and EUR pairs, with potential app integration.
Reddit’s community rewards drive impressive gains: MOON is up 45%, and BRICK is up 88% in 24 hours.

Reddit’s community tokens, Moons (MOON) and Bricks (BRICK), have witnessed a surge in value following their addition to the Kraken cryptocurrency exchange.

Reddit Moons and Bricks Soar More Than 50% After Listing Kraken 2

Kraken, known for its high trading volume, incorporated support for these tokens on August 7, igniting a positive response in the market.

The announcement by Kraken stated that users can now engage in trading the two Reddit-based cryptocurrencies on its platform, encompassing both spot and futures markets. Trading can be conducted through USD and EUR trading pairs and on Kraken Pro.

Furthermore, the inclusion of trading on the Kraken App and the Instant Buy feature is on the horizon, contingent upon market entry and platform liquidity.

Notably, these tokens can be deposited solely through Arbitrum Nova, which predominantly hosts them. While trading commencement specifics remain unclear, users could initiate deposits immediately after the announcement.

Moons and Bricks are integral components of Reddit’s Community Points initiative, which rewards users for generating high-quality content. Moons are associated with r/CryptoCurrency, catering to a user base exceeding 6.5 million, while Bricks are linked to the gaming subreddit r/FortniteBR.

In the past 24 hours, MOON experienced a remarkable 45% surge. Similarly, BRICK observed an impressive 88% increase in the same timeframe.

The move by Kraken to list MOON and BRICK comes after subtle indications by the exchange’s support team, sparking anticipation within the Reddit community.

Following the back-and-forth, which boosted MOON holders’ expectations for acceptance, the cryptocurrency exchange Crypto.com jumped in and decided to support the token a few days later.

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.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.