Introduction
The crypto token DONUT, popular with the Reddit community, has experienced a sudden surge in value. In the last 24 hours, DONUT’s value has increased by approximately 174%, with a weekly increase of over 300%. This surge has attracted the attention of investors who speculate that DONUT may follow the success of tokens like MOON and BRICK, which were recently listed on major cryptocurrency exchanges. The possibility of DONUT being listed on Kraken, a prominent trading platform, has further fueled the hype surrounding the token.
Understanding DONUT Crypto Token
- What is DONUT? – DONUT is an ERC-20 token used on the r/ethtrader subreddit. It acts as a reward for users’ contributions to the platform.
- How to Earn DONUT Tokens: – Reddit users can accumulate DONUTS by engaging in various activities such as creating quality content, participating in discussions, and upvoting other users’ posts.
- Uses of DONUT Tokens: – Accumulated DONUT tokens can be exchanged for premium features like custom user flair and badges.
DONUT was introduced to the r/ethtrader Reddit community in 2022. The recent speculation about DONUT potentially being listed on Kraken has led to a significant increase in its prices over the past week.
Could DONUT Get an Exchange Listing?
A recent poll on r/ethtrader indicated that the majority of users would like to see DONUT listed on a centralized exchange. In response to this, a community member sent an email to Kraken.
The email, posted by Reddit user u/LivingFondant1419, emphasized that DONUT is the “original tokenized community karma cryptocurrency on Reddit.” It was also pointed out that DONUT predates other Reddit tokens such as Moons and Bricks, which have already been listed on major exchanges.
Adding to the excitement, the Kraken Support account responded positively to the user’s post on r/ethtrader:
“We have indeed seen the post by u/LivingFondant1419, and it has been passed along to our listing team for consideration,” the response wrote.
“Listings are handled by a specialized team here at Kraken. We (Kraken Support on Reddit) don’t have insight into their selection process or even the assets they are considering listing, however, you can rest assured that they’ll review the request.”
Following the Path of MOON and BRICK
If DONUT successfully secures a listing on Kraken, it will join the ranks of other Reddit community tokens that have made a larger impact. Last month, MOON, the crypto token for the r/CryptoCurrency subreddit, experienced a surge in value after being listed on Crypto.com.
BRICK, the crypto token for r/FortNiteBR, is another Reddit token that has gained attention beyond its community. Interestingly, both MOON and BRICK were recently listed on Kraken.
