Bricks (BRICK), the token introduced by the Fortnite community on Reddit, has witnessed a remarkable upswing of more than 100% in the last 24 hours, rebounding from an 80% loss over the past two months.

BRICK, the native asset of the Bricks community, experiences a significant surge in value

As reported by CoinMarketCap, the price of BRICK, the native asset of the Bricks community, has surged by 110% within the last 24 hours, reaching $0.1226. The Kraken exchange contributed significantly to this trading volume surge, with the altcoin’s overall trading volume across all exchanges reaching $750,000—a remarkable 800% increase within the past day.

The dip of Bitcoin (BTC) below the $27,000 mark, the leading cryptocurrency, triggered selling pressure across the entire crypto market, with the exact cause of this surge remaining uncertain. Meanwhile, Bricks, an ERC-20 token distributed to active participants of the Fortnite subreddit on Reddit, witnessed a noteworthy surge in popularity, following the trend of other Reddit community tokens such as Moons (MOON) in the r/cryptocurrency subreddit, which gained momentum back in August.

BRICK faces potential risks due to its low liquidity

Additionally, BRICK continues to grapple with low liquidity across all cryptocurrency exchanges, notably with Kraken showing a market depth of approximately $2,500 for both buy and sell orders. Market depth is a crucial metric that reflects the capital needed to influence an asset’s price movement in a specific direction, and currently, it remains at a notably low level for BRICK.

Scant liquidity, especially following a substantial price surge, implies heightened risk for investors, as the price can be susceptible to manipulation with minimal effort. This can lead to significant losses for investors who buy in due to fear of missing out (FOMO).