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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Mar 21, 2024 07:01 UTC
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REDDIT Coin Soars 70% as Reddit IPO Set to Go Live Today! Have You Bought In Yet?
Reddit is going public on the New York Stock Exchange at $6.5 billion valuation, despite missing its initial target of $10 billion.
Unrelated cryptocurrency REDDIT saw a 70% surge in price, possibly due to hype surrounding the Reddit IPO.
REDDIT coin's meme-driven culture and recent growth have attracted investor attention.
Today, Reddit stands tall as the 17th most visited website worldwide. Now, it’s gearing up for a major leap with its initial public offering (IPO) on the New York Stock Exchange, valued at an impressive $6.5 billion. But that’s not the only buzz – an unrelated cryptocurrency named REDDIT has seen a remarkable 70% increase, hitting $0.01004 in trading.
Here’s all the details you need.
Reddit Goes Public
Known for its diverse features and active communities, Reddit announced its IPO, marking a milestone in its nearly two-decade history. The company’s decision to go public takes considerable preparation back after 2021 and is ready to capitalize on the widest range of user base and stakeholders.
Although, the stock is priced at $34 per share, and Reddit’s IPO valuation of $6.5 billion reflects investor confidence despite falling short of an initial target of $10 billion by 2021.
However, the IPO represents an opportunity for Reddit to capitalize on its platform’s popularity and community management in the public marketplace.
REDDIT Coin’s Rise
Simultaneously, REDDIT Coin, a cryptocurrency celebrating creativity and meme culture, is making waves with a 70% surge, now trading at $0.01004. Despite having no direct ties to Reddit, this coin has caught the eye of investors seeking growth opportunities.
Fueled by its meme-centric ethos and community engagement, REDDIT coin has seen its value soar by an incredible 400% in just one month.
Tracking REDDIT Coin’s Performance
Currently, REDDIT Coin boasts a trading price of $0.01004, marking a 38.50% surge in the past 24 hours. With a trading volume of $148,382 and a market cap of $582,074, it’s clear that this cryptocurrency is making its mark. Despite its rise, REDDIT coin remains niche in the cryptocurrency hierarchy, sitting at the 3544th position.
As investors eagerly await Reddit’s public debut and ride the wave of REDDIT coin’s ascent, the future looks promising for both the platform and its cryptocurrency token.
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