Kraken, one of the leading crypto exchanges in the world, announced the inclusion of Reddit’s community tokens Moons (MOON) and Bricks (BRICK) on their platform. The immediate aftermath saw a sharp rise in the values of both coins.
MOON, the principal token of the r/CryptoCurrency community, which has 6.5 million members, has seen its value grow by over 47% in the last 24 hours, settling at 42 cents.
On the other hand, BRICK, the flagship cryptocurrency of the r/Fortnite subreddit, was not far behind, recording an impressive near 50% surge, pushing its value to 4 cents, as indicated by CoinMarketCap.
Both MOON and BRICK function on the Ethereum-based ERC-20 token system. MOONs are awarded to users for their active participation, be it in the form of posts or comments, in the r/CryptoCurrency subreddit.
Reddit offers its users an Ethereum-backed wallet known as the ‘Vault’ to store their MOONs. Members can not only trade these tokens but can also use them for multiple purposes within the community.
This includes accessing exclusive features, such as unique badges, GIFs in comments, and adding weight to their votes in polls. BRICK operates on a similar mechanism, catering to the r/Fortnite community.
Kraken’s move doesn’t come entirely as a surprise to close followers of the crypto space. Just a few weeks ago, the exchange’s support team dropped hints on the r/CryptoCurrency subreddit, suggesting their openness to the addition of new coins.
This naturally led to heightened speculation around the potential listing of MOON and BRICK tokens.
