Social media platform Reddit learned in advance that the blockchain-based rewards program would be shut down and fired the admins who made sales before the huge 87% drop in the altcoin price.
Reddit on October 17 Community Points minutes before announcing plans to shut down the blockchain-based rewards program known as Moons (MOON) He fired the moderators who made the sale. The sales transactions in question were a common occurrence among the community in those days. shock effect and brought about serious reactions.
In the statement made by the team to CoinDesk, the following statements were made:
All moderators who sold MOONS before the announcement were removed from the team.
Making statements about the future of the MOON project, the team emphasized that the project is permanent:
There is a proposal by MoonsDust founder and core contributor u/mellon98 to resolve the situation, and we are brainstorming about the future of MOON. We are waiting for Reddit’s decision on whether they will assign the contract to us or to a burn address. Either way, MOON will remain on the market.
These people, who knew in advance that the reward program would be closed and were fired by Reddit, sold tens of thousands of dollars worth of MOON on average 10 minutes before the official announcement. Shortly after all these sales, the Reddit team officially announced that they would close the reward program known as Community Points and the MOON price crashed. 87% with a fall $0.236 from level to $0.032 had regressed.
According to CoinGecko data, in the last 24 hours 1.8% Rising MOON, at the time of writing from $0.0358 is being traded.