Reddit’s community tokens Moons (MOON) and Bricks (BRICK) saw a surge in value 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 47% to 42 cents in the last 24 hours. BRICK, the native cryptocurrency of the r/Fortnite subreddit, was up 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, and use them to trade, tip, or spend in the community. These coins can also be used to unlock exclusive features like badges and GIFs in comments and add 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 said in a r/CryptoCurrency subreddit that the exchange is always open for adding new coins. Kraken and Kraken Pro users can now trade both coins against the U.S. dollar and euro in the spot market. Perpetual futures tied to the MOON/USD pair are also available.