Reddit’s MOON token has a $2.64 septillion market cap

In defiance of Reddit’s apparent wishes, crypto traders have devised a way to exchange the social platform’s ‘community points’  tokens for fiat — and it’s resulted in a pretty surprising market cap. 

In May Reddit announced it would begin distributing ERC-20 rewards tokens on the Rinkeby testnet among users of its cryptocurrency and Fortnite subcommunities in the form of ‘MOONs’ and ‘BRICKs.’ The tokens are distributed according to a user’s contributions to the respective subreddits.

xMOON pairings appeared on xDai network exchange Honeyswap last week after Reddit introduced a feature allowing Moons to be converted into ‘coins’.

MOON holders can now trade the tokens by converting them to xMOON via xmoon.exchange, and then exchanging the xMOONs for xDAI — which can be converted to the stablecoin DAI 1:1 — via Honeyswap.

Reddit’s crypto community token is…

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