MOON Price Hits All-Time High, Reddit Community Tokens Skyrocket Amidst Rule Change Speculation

In a stunning display of market resilience, the price of the cryptocurrency Moons (MOON) has skyrocketed to a new all-time high of $0.65, showcasing its strong performance despite prevailing market conditions. MOON is the native token associated with the r/CryptoCurrency community on Reddit social media platform, which boasts an impressive 6.5 million members.

Timeline of Moonswap

The reason for this sudden boom is the news that Reddit recently updated its terms of service, explicitly writing that it is now allowed to trade the platform's tokenized Community Points.

The latest price moves in bitcoin (BTC) and crypto markets in context for July 18, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

Reddit's MOON, the community token for the r/cryptocurrency subreddit, rose by 62% in the last 24 hours after the social media platform changed its term of service to allow the points to be traded. According to Coingecko data, the digital asset's value jumped by nearly 200% during the past week, rising from around $0.