Reddit IPO To Go Live Today! REDDIT Coin Surge by 70%

The post Reddit IPO To Go Live Today! REDDIT Coin Surge by 70% appeared first on Coinpedia Fintech News

Popular social media platform Reddit, the 17th most visited website in the world is gearing up for an initial public offering (IPO) on the New York Stock Exchange, at a valuation of $6.5 billion. Meanwhile, the company’s unrelated cryptocurrency, REDDIT, saw an impressive 70% increase, trading at $0.01004.

Reddit’s IPO Launch

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 Surge:

In parallel to Reddit IPO, Reddit Coin (REDDIT), a cryptocurrency celebrating creativity, art, and meme culture experienced a surge of 70%, reaching a trading price of $0.01004. 

Perhaps having no direct connection with Reddit firm, REDDIT coin has garnered attention from investors seeking to capitalize on its potential growth. 

Investors are drawn to the hyped value of REDDIT’s coin, and its meme-driven culture and community engagement could lead to greater appreciation. That interesting speculation has given holders of the REDDIT coin a whopping 400% increase in value over the past month. 

Reddit Coin Analysis

The current price of Reddit Coin is $0.01004, up an impressive 38.50% in the last 24 hours. With a trading volume of $148,382. However, the Reddit coin has a current market cap of $582,074.

Despite its huge popularity, the Reddit coin holds the 3544th position, reflecting its niche position in the cryptocurrency landscape.