MOON, created by Reddit’s crypto community, rose nearly 150 percent with the new announcement of the managers.
The cryptocurrency industry continues to host new players day by day. Popular cryptocurrencies of recent times are leaving the Reddit platform. Communities on Reddit have begun issuing their own cryptocurrencies.
One of these cryptocurrencies, r/CryptoCurrency Moons (MOON), has achieved a remarkable rise with new statements from the project team. MOON achieved a price increase of nearly 150 percent during the day.
MOON token left its mark on the day
MOON, which was launched by Reddit’s r/CryptoCurrency moderators and received the support of the community, rose from $ 0.054 to $ 0.15 with the increase it experienced in the last 24 hours. The striking rise occurred in parallel with the statements of the project team. The team stated that the MOON token will be made completely owned by the community.
The r/CryptoCurrency moderation team announced that the token contract will be updated by the end of the month and that admins will waive the contract. Thus, MOON will be completely under the management of investors. So the team will not be able to make any contract changes.
This move, which will make the MOON token completely decentralized, has also increased the appetite of investors. MOON transaction volume approached $3.5 million in the last 24 hours. MOON, with a total market value of 16 million dollars, managed to attract the attention of investors.
Additionally, this contract change will eliminate the inflationary nature of the MOON token supply. Thus, the token contract will not issue new MOON.
The team, Reddit’s r/CryptoCurrency moderators and MOON developers, announced that the MOONs in the wallet called Community Tank will be burned. With the burning, 83 million MOON will be removed from the circulating supply.
On the other hand, the team announced that it will cooperate with the community in planning the MOON token trajectory.
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