The announcement of Reddit, one of the world’s largest social media platforms, that it invested in cryptocurrencies brought significant increases in altcoins associated with the platform.
Reddit recently applied to the US Securities and Exchange Commission (SEC) to go public on the New York Stock Exchange and stated in its application file that it invested in Bitcoin (BTC), Ethereum (ETH) and Poylgon (MATIC).
In parallel with this statement of the social media giant, Reddit has more than 6.5 million users. r/CryptoCurrency native token of the community Moons (MOON) And r/ethtrader community token Donut (DONUT) There were serious increases in particular.
Following the announcement, DONUT quickly 50% up by displaying $0.009089 from level to $0.0172 reached. MOON, which witnessed a similar rise and is one of the favorite projects of the Reddit community, 40% with increase $0.1073 from level to $0.1535 rose.
Both projects are featured on Reddit’s “social score” is among the cryptocurrencies used to reward community members. Reddit, with its statements in the past period, caused serious price movements, especially for MOON.