Crypto.com supports Moons token, MOON price surges by almost 400% in a week.
Crypto.com supports Moons token, MOON price surges by almost 400% in a week.
The Rising Value of Moons Token (MOON) on Crypto.com Sparks Bullish Sentiment Among Reddit Users
The blockchain industry is witnessing yet another significant development as Crypto.com, a prominent cryptocurrency exchange, has recently listed Moons (MOON) – the native token of Reddit – on its platform. This listing has sparked a massive surge in the value of the token, leading to increased optimism among Reddit users. However, rumors suggesting that Kraken, another well-known exchange, might also list MOON have been denied by the company.
The Impressive Price Surge of Moons Token (MOON)
Since its listing on Crypto.com, the price of MOON has experienced an exhilarating jump for two consecutive days. According to CoinMarketCap data, the token has surged by an impressive 397.50% in just seven days, currently trading at $0.4629. This remarkable price movement can largely be attributed to the listing on Crypto.com, which has provided significant exposure and accessibility to MOON.
It is worth noting that MOON has already gained support from several other exchanges, including MEXC, Gate.io, SushiSwap, and RCP Swap, prior to its listing on Crypto.com. The widespread acceptance of the token by these exchanges has further fueled the bullish sentiment among Reddit users, who are increasingly recognizing the value and potential of MOON.
Surpassing Expectations: Reddit Users React to MOON’s Success
Interestingly, many Reddit users did not initially anticipate the level of success that MOON has achieved. The token has surpassed their projections by a significant margin, leading to a surge of excitement and surprise within the community. Some users expressed their astonishment, with one user simply stating, “It gets serious,” while another user admitted to being unsure about what to do next, as they had not expected the token to gain such momentum.
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To understand the origin of MOON, it is essential to highlight that Reddit administrators introduced MOON as ERC-20 tokens in 2020 as part of their community points program. These tokens are awarded to Reddit users based on their activity within the r/Cryptocurrency subreddit. Users can store their tokens in a Vault or use them to tip fellow community members.
Reddit: A Growing Hub for Crypto Enthusiasts
The fact that Reddit has become a rallying point for crypto advocates is not surprising, considering its co-founders’ background and enthusiasm for cryptocurrencies. Steve Huffman and Alexis Ohanian, the co-founders of Reddit, established the platform in 2005. Ohanian, in particular, has been an ardent supporter of cryptocurrencies and the NFT space.
Although Ohanian left Reddit in 2020, his passion for crypto has undoubtedly influenced the platform’s trajectory. The integration of MOON tokens into the Reddit ecosystem further demonstrates the platform’s commitment to embracing blockchain technology and engaging with its active user base.
In conclusion, the recent listing of Moons (MOON) on Crypto.com has propelled the token’s value to new heights, generating bullish sentiment among Reddit users. This development highlights the increasing acceptance and recognition of cryptocurrencies within mainstream platforms like Reddit. As more users engage with blockchain-based tokens and communities, the potential for further growth and innovation within the blockchain industry continues to expand.
