Bitcoin
Bitcoin (BTC)
$68,561.00 -0.56708
Bitcoin price
Ethereum
Ethereum (ETH)
$3,906.82 2.69465
Ethereum price
BNB
BNB (BNB)
$601.63 0.19922
BNB price
Solana
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$167.22 2.22338
Solana price
XRP
XRP (XRP)
$0.5292500 -0.8521
XRP price
Shiba Inu
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$0.0000256 4.36613
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000166 3.48147
Pepe price
Bonk
Bonk (BONK)
$0.0000374 4.75827
Bonk price
Bitcoin
Bitcoin (BTC)
$68,561.00 -0.56708
Bitcoin price
Ethereum
Ethereum (ETH)
$3,906.82 2.69465
Ethereum price
BNB
BNB (BNB)
$601.63 0.19922
BNB price
Solana
Solana (SOL)
$167.22 2.22338
Solana price
XRP
XRP (XRP)
$0.5292500 -0.8521
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000256 4.36613
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000166 3.48147
Pepe price
Bonk
Bonk (BONK)
$0.0000374 4.75827
Bonk price
Bitcoin
Bitcoin (BTC)
$68,561.00 -0.56708
Bitcoin price
Ethereum
Ethereum (ETH)
$3,906.82 2.69465
Ethereum price
BNB
BNB (BNB)
$601.63 0.19922
BNB price
Solana
Solana (SOL)
$167.22 2.22338
Solana price
XRP
XRP (XRP)
$0.5292500 -0.8521
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000256 4.36613
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000166 3.48147
Pepe price
Bonk
Bonk (BONK)
$0.0000374 4.75827
Bonk price
Bitcoin
Bitcoin (BTC)
$68,561.00 -0.56708
Bitcoin price
Ethereum
Ethereum (ETH)
$3,906.82 2.69465
Ethereum price
BNB
BNB (BNB)
$601.63 0.19922
BNB price
Solana
Solana (SOL)
$167.22 2.22338
Solana price
XRP
XRP (XRP)
$0.5292500 -0.8521
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000256 4.36613
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000166 3.48147
Pepe price
Bonk
Bonk (BONK)
$0.0000374 4.75827
Bonk price
SirWin
SirWin
SirWin

Reddit tokens surged over 15% pre-IPO

reddit-tokens-surged-over-15-pre-ipo
Edited by
News
Reddit tokens surged over 15% pre-IPO

Two cryptocurrencies affiliated with Reddit communities increased more than 15% in 24 hours. 

Investors speculated on Donut (DONUT) and Moons (MOONS) as the social media platform launched its long-awaited initial public offering (IPO), causing the tokens to see double-digit price increases on March 21. 

DONUT is an ERC-20 token issued on Ethereum (ETH) by the ethtrader forum. Participants receive the crypto as monthly rewards for contribution to the community. Eligibility depends on upvotes gathered by published content. Per CoinMarketCap, the token gained over 28% on Reddit’s IPO news. 

Reddit tokens surged over 15% pre-IPO - 1
DONUT daily chart | Source: CoinMarketCap

Admins on Reddit’s largest crypto community, CryptoCurrency, created the MOONS tokens to incentivize further activity among members. The token is also distributed every month according to karma points accumulated by users. MOONS spiked at least 18% over 24 hours. 

Reddit tokens surged over 15% pre-IPO - 2
MOONS daily chart | Source: CoinMarketCap

Reddit IPO goes live

According to Reuters, the IPO launched 38% above its expected $34 per share price due to over-subscription, signaling demand for the social network’s stock. 

Last month, crypto.news reported that the company held cryptocurrencies on its balance sheet including Bitcoin (BTC), Ether, and Polygon (MATIC). The assets were disclosed in a Feb. 22 IPO filing with the U.S. SEC. 

Reddit said it acquired these tokens with excess cash reserves to experiment with blockchain and crypto technology. The firm also said ETH and MATIC were specifically bought to settle some goods and services expenditure.