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.

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

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.

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The message, posted by u/LivingFondant1419, points out that DONUT is the “original tokenized community karma cryptocurrency on Reddit.” Referring to Moons and Bricks, u/LivingFondant1419 notes that Donuts predate other Reddit tokens that are listed on major exchanges.

Further excitement was generated after the u/KrakenSupport account started interacting with the r/ethtrader subreddit.

“We have indeed seen the post by u/LivingFondant1419, and it has been passed along to our listing team for consideration,” the response wrote.

Expanding, the Kraken support account added that:

“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.”

If it does manage to garner a Kraken listing, DONUT wouldn’t be the first Reddit community token to graduate onto a larger stage.

Last month, MOON, a token used by the r/CryptoCurrency subreddit, exploded in value when it was listed by Crypto.com.

Another Reddit token that has captured the attention of a larger audience is r/FortNiteBR’s Bricks (BRICK). 

Incidentally, Kraken listed both Both Moons and Bricks earlier this month.

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The post DONUT Reddit Token Surges 300% Amid Kraken Listing Speculation appeared first on BeInCrypto.

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