Reddit Community Tokens Moons and Bricks Soar 50% on Kraken Listing

Kraken and Kraken Pro users can trade both coins against the U.S. dollar and euro in the spot market.

AccessTimeIconAug 8, 2023 at 6:18 a.m. UTC
Updated Aug 8, 2023 at 6:22 a.m. UTC

Reddit's community tokens Moons (MOON) and Bricks (BRICK) surged after Kraken, one of the largest centralized crypto exchanges by trading volume, added support for the coins on Monday.

MOON, the native token of Reddit's r/CryptoCurrency community of over 6.5 million users, jumped over 47% to 42 cents in the last 24 hours. BRICK, the native cryptocurrency of the r/Fortnite subreddit, was up nearly 50% to 4 cents in the last 24 hours, according to data source Coingecko.

MOON is an ERC-20 token distributed as a reward for comments or posts in the r/CryptoCurrency subreddit. Users can store coins in Reddit's Ethereum-based wallet, called Vault. They can freely trade, tip, or spend those in the community for several purposes, including unlocking exclusive features like badges and GIFs in comments and adding weight to poll votes. BRICK serves a similar purpose in the r/Fortnite subreddit.

Kraken's decision to list MOON and BRICK came weeks after the exchange's support team hinted said in a r/CryptoCurrency subreddit that the exchange is always open for adding new coins. That raised speculation of an eventual listing of MOON and BRICK tokens.

Kraken and Kraken Pro users can trade both coins against the U.S. dollar and euro in the spot market. Perpetual futures tied to the MOON/USD pair are available as well.

Edited by Parikshit Mishra.


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Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

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