The Revival of Moons Token
After Reddit admins announced the sunset of the community points initiative, the crypto community expressed concerns about the disposal of Moons (MOON) tokens. The users sought to revive the Moons crypto project without involving Reddit admins.
According to an update from r/CryptoCurrency subreddit moderators, Reddit admins will renounce the Moons contract by the end of this month. This move will result in no new MOON being created, and all Moons held in the Community Tank will be burned, reducing the total supply of MOON tokens. The burning of tokens is expected to make MOON a deflationary token.
MOON Price Surge
Following the announcement, MOON experienced a 150% surge, reaching $0.17, as reported by CoinGecko. Moons are ERC-20 tokens awarded by Reddit for contributions to the r/CryptoCurrency subreddit through posts or comments and can be traded or used within the community.
Hot Take: The Future of Moons
The decision to renounce the Moons contract signifies a significant step in reviving the token and ensuring its sustainability. This move is expected to restore confidence in the Moons project and its future potential within the crypto community.
By
By
By
By
