crypto.news 2025-04-27 14:53:49

Reddit Points rally over 45% after investment firm disclosure

Reddit Points surged more than 45% on Sunday after new disclosures revealed that New York-based Totem Point Management LLC purchased a stake in the company during the fourth quarter worth approximately $1.273 million. The sharp upward trend highlights growing investor excitement not only around Reddit’s broader platform growth but also its unique blockchain-based Community Points system. Reddit Points, which allow users to earn, own, and spend blockchain tokens based on their contributions to certain subreddits, have become an increasingly important piece of the company’s ecosystem. You might also like: Reddit tokens surged over 15% pre-IPO Unlike traditional “karma” on Reddit, Points are decentralized — meaning users actually own them and can store them in crypto wallets, tip others, unlock special memberships, and even trade them. Communities like r/CryptoCurrency (with its “Moons” token ) have led to adoption. See the seven-day trend below. Source: CoinGecko There’s also r/FortNiteBR, which rallied over the past week: Source: CoinGecko The rally also reflects broader market dynamics, as crypto assets have been buoyed by a mix of institutional interest, optimism around blockchain-based social networks, and the social media company’s recent initial public offering . Investors appear to view Community Points as a potential “sleeper asset” that could drive new engagement models in the evolving creator economy. Read more: Reddit co-founder joins bid to buy TikTok and bring it on-chain