Fortnite Community Token Surges by 80% in 24 Hours
The native token of Reddit’s Fortnite Battle Royale community has seen a significant surge in value, increasing by over 80% in just 24 hours. The cryptocurrency, known as Bricks ($BRICK), initially reached a high of $0.175 before correcting to its current trading price of $0.146, which is still 60% higher than before the surge.
During its surge, Bricks experienced most of its trading activity on the popular crypto exchange Kraken, with the total volume across all platforms increasing by over 78% in one day to nearly $650,000.
Bricks: A Token for the Fortnite Subreddit
Bricks is an ERC-20 token based on Ethereum that was distributed to active users of the Fortnite subreddit, a large Reddit community dedicated to the popular game developed by Epic Games. Back in August, the token’s price soared along with other Reddit community tokens like Moons ($MOON) from the Cryptocurrency subreddit.
According to Benzinga, Bricks has a market depth of about 2% on Kraken, indicating approximately $2,500 on both the buy and sell sides. However, liquidity remains low across all platforms for Bricks, suggesting that the surge may have been driven by sudden demand. The token primarily serves as a community token within the subreddit, allowing users to purchase premium features or membership perks.
The Reason Behind the Surge
The cause of Bricks’ price surge is currently unclear. It’s worth noting that Fortnite announced last month that the price of its in-game currency, V-Bucks, would increase by 12% to 15% on October 27.
Hot Take: Bricks Token Surges, Highlighting Community Value
The recent surge in the value of Bricks token exemplifies the growing significance of community tokens within online platforms. The popularity and engagement of Reddit’s Fortnite Battle Royale community have contributed to the surge, as active users are rewarded with Bricks for their participation. This demonstrates the potential for cryptocurrencies to be used as a means of incentivizing and rewarding community engagement and loyalty. While the exact reason behind the surge remains unknown, it highlights the power of dedicated communities and their impact on token values.
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