Nov 15, 2023

Prices of MOON token, which is tied to the shuttered Community Points program of Reddit, is continuing to surge as some moderators banded to revive the project and continue it independently.

Video transcript

The chart of the day is presented by crypto dot com. The leading crypto platform trusted by over 80 million users worldwide. Today's chart of the day takes a look at moon token which is tied to the shuttered community points program of Reddit, it more than doubled on Tuesday as some moderators band it to revive the project and continue it independently. The moderators added that no new moon tokens will be created after the contract is migrated and renounced. Furthermore, reddit admins will be burning all moon held in a shared account called the Community Tank which will lower the total supply from around 100 and 25 million to 83 million. Meanwhile, Reddit user crypto mod said in the Tuesday post that they were planning a series of developments that could accrue value to moon tokens in the coming months. The team also said it will continue to develop bots and use the available API A tool for data transfers to improve the utility of moons. Moon is currently trading around 30 cents up almost 40% on the day. That's it for today's chart of the day. I'm Jen Sani and we'll see you next time to unpack more of the data behind top news stories.

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