Since listing on Crypto.com, the price of MOON has continued to jump excitedly.
Crypto.com has now listed Moons (MOON) – the native token of Reddit, on its platform, causing a massive surge in the token’s value. The development came amid rumors that Kraken staff might also be nursing the idea of listing MOON on their platform. However, the exchange has since denied the rumors, saying it has no plans for such a listing.
Moons Token (MOON) Price Surge Makes Reddit Users Bullish
Since listing on Crypto.com, the price of MOON has continued to jump excitedly, albeit, for the second day straight. As of publication, the token is up 397.50% in seven days, and exchanging hands at $0.4629, per CoinMarketCap data.
Without a doubt, Crypto.com’s recent listing has proven to be invaluable to MOON’s value. However, several other exchanges already support the token even before now. Some examples include MEXC, Gate.io, SushiSwap, and RCP Swap. And owing to the wide acceptance, Reddit users are now increasingly bullish on the token.
Meanwhile, it might be worth noting that many Reddit users did not initially expect so much from the token. But, MOON may have just surpassed their projections by a landslide.
One user simply wrote that “It gets serious.” Another user complained about not knowing what to do since they weren’t expecting the token to make it this far.
In 2020, Reddit administrators launched MOON, which are ERC-20 tokens, as part of their community points program. Reddit users receive the tokens in proportion to their activity in the r/Cryptocurrency subreddit. And they can choose to store the tokens in their Vault or tip their fellow users with them.
It might also be worth mentioning how Reddit is fast becoming a rallying point for crypto advocates. But that is not exactly surprising. The platform itself was co-founded in 2005 by Steve Huffman and Alexis Ohanian – a profound crypto enthusiast.
Although Ohanian left the company in 2020, his passionate interest in crypto and the NFT space has rubbed off on the platform.