The price of the MOON token, the native cryptocurrency of the r/CryptoCurrency subreddit, reached a new all-time high of 84 cents recently. This surge comes ahead of Celer’s launch of a multidirectional bridge, which will enable MOON token holders to transfer their coins between Arbitrum Nova and Arbitrum One. The bridge is set to be launched on March 20.
In addition to the excitement surrounding Celer’s bridge launch, there is also significant interest in Reddit itself. The social media platform’s initial public offering (IPO), scheduled for March 21, is reportedly four to five times oversubscribed. This strong investor interest suggests that Reddit’s IPO could value the company at around $6.5 billion.
MOON tokens are ERC-20 tokens that are awarded to users of the r/CryptoCurrency subreddit as rewards for their contributions. These tokens can be freely traded, tipped, or used within the community. By adding support for MOON, Celer is enabling token holders to benefit from the functionality and liquidity of Arbitrum One, while still enjoying the low transaction costs of Arbitrum Nova.
The launch of Celer’s multidirectional bridge opens up new possibilities for MOON token holders and further enhances its value within the crypto community.