The Reddit token DONUT has surged in value. At the time of writing, the crypto is up 174% in 24 hours and has increased by over 300% over the course of the week.

Investors speculate that DONUT could follow MOON and BRICK with a major exchange listing, which has helped fuel the rising hype.

What Is DONUT, and Why Is the Crypto Trending on Reddit?

Donut is an ERC-20 token used on the r/ethtrader subreddit to reward users for their contributions. 

Reddit token Donuts USD price
DONUT Price (Source: CoinMarketCap)

Reddit users can earn Donuts by posting high-quality content, participating in discussions, and upvoting other users’ posts. They can be used to purchase premium features, such as custom user flairs and badges.

Donuts have been used by r/ethtrader since 2022. Furthermore, speculation that Kraken could list the token has increased its price in the past week.

After a poll on r/ethtrader showed that a majority would like to see DONUT listed on a centralized exchange, one member sent an email to Kraken.

Go to Source to See Full Article
Author: James Morales

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