Following the opening of trade on the cryptocurrency market Kraken for the two Reddit communities’ native currencies, MOON and BRICK, they increased in value on Monday.
After the Kraken Listing, Reddit Moons and Fortnite Brick Cryptocurrency Fly
According to CoinMarketCap, as of this writing, r/Cryptocurrency Moons has climbed by 5.84% over the last 24 hours to $0.5169, while r/FortNiteBR Bricks has increased by 62.76% to $0.2804 over the same time frame. The news of Moons and Fortnite Brick’s listing was announced in a post shared on Kraken’s official X account.
The listings follow weeks of speculation by numerous members of Kraken’s support team that Reddit Moons would be supported. Kraken was adamant at the time that it wasn’t implying a listing. However, a few days later, the cryptocurrency exchange Crypto.com rushed in and made a move to promote the token after the back-and-forth increased acceptance aspirations among MOON holders.
Users receive both BRICK and MOON depending on how actively they participate in each online group. Members can accumulate tokens by posting and commenting on content, and they can then use those tokens to tip other users.
Unexpected Rise in Moons
The coin, which was introduced in 2020 as a part of Reddit’s experiments with “Community Points,” experienced one of its most significant moments with Monday’s listing, which was viewed as a significant development in r/CryptoCurrency.
Now I become degeneracy, the destroyer of portfolios,
Reddit user PojectZeus
According to the user’s Reddit profile, he/she has amassed 15,400 MOON throughout the time. According to CoinGecko, this amount is currently worth approximately $6,100. On the other hand, MOON spot and futures markets will also be available on Kraken. Kraken made this announcement with a post shared on X.
Fortnite Brick Crypto Didn’t Rise Much
Kraken’s decision to back BRICK on r/FortNiteBR was comparably underwhelming. While the crypto-focused community was ecstatic about MOON’s listing, r/FortNiteBR, which is dedicated to the battle royale game Fortnite, did not notice BRICK’s new trading platform.
To mark the occasion, Kraken purchased a banner advertisement on the cryptocurrency discussion forum r/CryptoCurrency with Reddit Moons. By renting the subreddit’s banner space in the past, Kraken has provided support for the community.
Kraken Also Launches Perpetual Futures
Kraken launched perpetual futures for the tokens, which are financial derivatives that enable individuals to speculate on future price changes, in addition to supporting MOON and BRICK spot markets. Being able to deposit MOON and BRICK tokens into a Kraken account is a unique feature of Kraken’s support for those coins. The Ethereum wallet was added to the Reddit mobile app last year, and Reddit Moons are saved in a Reddit user’s vault.
It’s unclear if MOON tokens can be added to a Crypto.com account by Reddit users. The functionality is not included in the exchange’s announcement of MOON support.
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