{"id":546323,"date":"2023-08-09T05:00:33","date_gmt":"2023-08-09T05:00:33","guid":{"rendered":"https:\/\/ktsl888.com\/?p=546323"},"modified":"2023-08-08T21:35:41","modified_gmt":"2023-08-08T21:35:41","slug":"trader-10-million-bet-luna-loading-reddits-moons","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/","title":{"rendered":"Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit&#8217;s Moons"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">In a new development, a trader who placed a substantial $10 million bet against LUNA in May 2022 before the then native currency and UST\u2014the algorithmic stablecoin, collapsed is now setting his sight on Reddit Moons. Going by the moniker &#8220;GCR,&#8221; on-chain data on August 8 <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/nahnah64\/status\/69520385\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">showed<\/span><\/a><span data-preserver-spaces=\"true\"> the trader moved 450,000 MOON from MEXC Exchange to Kraken.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Moons Rallying<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Moons, the ERC-20 token associated with the r\/CryptoCurrency forum on Reddit, is firm and on an uptrend, looking at current price action. At spot rates, the token is up 400% from late July and changing hands at $0.47, hovering near 2023 highs.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/hbar-token-scores-impressive-gains-as-major-cryptos-nosedive\/\" target=\"_blank\" rel=\"noopener \">HBAR Token Scores Impressive Gains As Major Cryptos Nosedive<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Based on price action from MEXC trade data, the immediate resistance level is at $0.65, which was printed in late July 2023. However, with the revival currently visible across the crypto market, prices will likely continue increasing. To illustrate, Moons is already up 90% in August alone, rebounding from $0.25 and surging to spot rates.\u00a0<\/span><\/p>\n<figure style=\"width: 1226px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/iqPwHisV\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/iqPwHisV\/\" alt=\"MOON price on August 8 after Moons listing on Kraken| Source: MOONUSDT on Binance, TradingView\" width=\"1226\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">MOON price on August 8| Source: <a href=\"https:\/\/www.tradingview.com\/x\/iqPwHisV\/\" target=\"_blank\" rel=\"noopener nofollow\">MOONUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Several factors are believed to be fanning demand. One of these is the influence of traders like GCR, who are acquiring Moons and potentially improving sentiment on altcoins considering the recent lower lows recorded in the better part of July. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, looking at how MOON prices reacted after Kraken&#8217;s listing on August 7, the community appears more buoyant and confident of improving liquidity.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Kraken Listing<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">As trackers <a href=\"https:\/\/coinmarketcap.com\/currencies\/moon\/#Markets\" target=\"_blank\" rel=\"noopener nofollow\">reveal<\/a>, before the Kraken listing, most Moons trading activity was concentrated on MEXC Exchange. On August 7, Kraken <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/blog.kraken.com\/product\/asset-listings\/brick-and-moon-trading-starts-today-on-spot-and-futures\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">announced<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0its listing of Moons alongside Bricks (BRICK). Alongside the announcement, Kraken said users could deposit MOON and BRICK from the Arbitrum Nova network. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Moons and Bricks are also available for trading on Kraken and Kraken Pro accounts. From Kraken Pro, clients can trade MOON and BRICK perpetual derivatives.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">MOON has been described as a &#8220;community-driven&#8221; token since its launch in May 2020. Within the r\/CryptoCurrency subreddit, it serves multiple functions, including rewarding users who contribute positively. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Reddit said Moons&#8217; holders can access premium features, including badges and custom emojis, and tip fellow community members. Moreover, holding Moons grants voting power in subreddit polls, affording holders a say in shaping the subreddit&#8217;s future.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/litecoin\/litecoin-long-term-holders-smartly-exited-before-halving-data-shows\/\" target=\"_blank\" rel=\"noopener \">Litecoin Long-Term Holders Smartly Exited Before Halving, Data Shows<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Arbitrum data on August 8\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nova-explorer.arbitrum.io\/token\/0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0\/token-transfers\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\"> over 121 million Moons in circulation. Out of this, more than 206,000 holders have generated over 670,000 transfers. All Moons are stored on Vault, the mobile-based wallet launched in 2022.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a new development, a trader who placed a substantial $10 million bet against LUNA in May 2022 before the then native currency and UST\u2014the algorithmic stablecoin, collapsed is now setting his sight on Reddit Moons. Going by the moniker &#8220;GCR,&#8221; on-chain data on August 8 showed the trader moved 450,000 MOON from MEXC Exchange to Kraken. Moons Rallying Moons, the ERC-20 token associated with the r\/CryptoCurrency forum on Reddit, is firm and on an uptrend, looking at current price action. At spot rates, the token is up 400% from late July and changing hands at $0.47, hovering near 2023 highs.\u00a0 Related Reading: HBAR Token Scores Impressive Gains As Major Cryptos Nosedive Based on price action from MEXC trade data, the immediate resistance level is at $0.65, which was printed in late July 2023. However, with the revival currently visible across the crypto market, prices will likely continue increasing. To illustrate, Moons is already up 90% in August alone, rebounding from $0.25 and surging to spot rates.\u00a0 Several factors are believed to be fanning demand. One of these is the influence of traders like GCR, who are acquiring Moons and potentially improving sentiment on altcoins considering the recent lower lows recorded in the better part of July. However, looking at how MOON prices reacted after Kraken&#8217;s listing on August 7, the community appears more buoyant and confident of improving liquidity.\u00a0 Kraken Listing As trackers reveal, before the Kraken listing, most Moons trading activity was concentrated on MEXC Exchange. On August 7, Kraken announced\u00a0its listing of Moons alongside Bricks (BRICK). Alongside the announcement, Kraken said users could deposit MOON and BRICK from the Arbitrum Nova network. Moons and Bricks are also available for trading on Kraken and Kraken Pro accounts. From Kraken Pro, clients can trade MOON and BRICK perpetual derivatives. MOON has been described as a &#8220;community-driven&#8221; token since its launch in May 2020. Within the r\/CryptoCurrency subreddit, it serves multiple functions, including rewarding users who contribute positively. Reddit said Moons&#8217; holders can access premium features, including badges and custom emojis, and tip fellow community members. Moreover, holding Moons grants voting power in subreddit polls, affording holders a say in shaping the subreddit&#8217;s future.\u00a0 Related Reading: Litecoin Long-Term Holders Smartly Exited Before Halving, Data Shows Arbitrum data on August 8\u00a0shows over 121 million Moons in circulation. Out of this, more than 206,000 holders have generated over 670,000 transfers. All Moons are stored on Vault, the mobile-based wallet launched in 2022. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":546324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[89071,2676,89072,16075,89070,3621],"class_list":["post-546323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-brick","tag-kraken","tag-mexc-exchange","tag-moon","tag-moons","tag-reddit"],"acf":[],"yoast_head":"\n<title>Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit&#039;s Moons<\/title>\n<meta name=\"description\" content=\"Trader who placed $10 million bet against LUNA is loading up Moons by Reddit. 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He transferred 450,000 MOON from MEXC to Kraken.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-09T05:00:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-08T21:35:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/Reddit-Moons-Kraken-MEXC-Exchange.jpg?fit=1380%2C780\" \/>\n\t<meta property=\"og:image:width\" content=\"1380\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit&#8217;s Moons\",\"datePublished\":\"2023-08-09T05:00:33+00:00\",\"dateModified\":\"2023-08-08T21:35:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/\"},\"wordCount\":432,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/Reddit-Moons-Kraken-MEXC-Exchange.jpg?fit=1380%2C780\",\"keywords\":[\"BRICK\",\"kraken\",\"MEXC Exchange\",\"moon\",\"Moons\",\"reddit\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/\",\"url\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/\",\"name\":\"Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit's Moons\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/trader-10-million-bet-luna-loading-reddits-moons\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/Reddit-Moons-Kraken-MEXC-Exchange.jpg?fit=1380%2C780\",\"datePublished\":\"2023-08-09T05:00:33+00:00\",\"dateModified\":\"2023-08-08T21:35:41+00:00\",\"description\":\"Trader who placed $10 million bet against LUNA is loading up Moons by Reddit. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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