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- As reported by CMC, the token’s value surged by 72 percent over the past 24 hours.
- Bill, a member of Kraken’s support team, directed users to a submission form.
Members of the Reddit subreddit r/CryptoCurrency experienced a notable rise in the value of their native token, r/CryptoCurrency Moons (MOON), on Monday following speculation that Kraken, a cryptocurrency exchange, might list Moons. As per CMC, the token’s value rose by 72 percent in the last 24 hours, reaching $0.28 at the time of this report.
Reddit Moons are granted to users for their contributions to the r/CryptoCurrency community, and users can also exchange tips with one another. Moons are stored in the Vault, Reddit’s Ethereum-based digital wallet that was made available to the broader community in 2022.
A trending discussion on the cryptocurrency-focused subreddit referenced an unofficial Twitter account named r/CryptoCurrency Moons, which asserted that Reddit had recently altered its policy regarding the sale of digital assets. However, some of the enthusiasm was misplaced.
An archived version of the site indicates that the tweet promoting the overview of confirmed virtual products first surfaced in May, making the information several months old.
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Currency Listing Request Form
Regardless, a Kraken support staff member mentioned that Moons could potentially be added to the exchange in the future, and others concurred. This would represent a significant change for Moons, which is currently only available on MEXC, Gate.io, SushiSwap, and RCP Swap.
If Kraken were to list Moons, it is highly probable that the community would transition to using it as their main exchange. Bill, a Kraken support staff member, guided users to a submission form for currency listing requests.
Whether the Twitter post was accurate or not, it did bring attention to a significant new development. In a blog post released last week, Reddit announced its decision to phase out its in-platform currency, Reddit coins, and to discontinue the option to purchase and gift medals.
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