Reef worth defied gravity on Tuesday as cryptocurrency costs retreated. The little-known coin surged to a excessive of $0.0067, which was the best stage since October twentieth. It has jumped by greater than 20% from the bottom stage this week.
Why is REEF hovering?
Reef, which stands for Dependable Extensible Environment friendly and Quick, is an Ethereum Digital Machine (EVM) community. It’s an EVM-compatible blockchain community for Decentralized Finance (DeFi). A few of its high options are quick, scalable, and low transaction prices. It was created utilizing the Substrate Framework.
Reef’s ecosystem is rising. A number of the high functions in its ecosystem are Reef app, Reef extension, Reefscan, Subscan, and Reefswap. Reefswap is much like Uniswap whereas Swid is the primary NFT market within the Reef ecosystem.
Reef worth has achieved effectively prior to now few weeks as traders cheer the community’s growth. In October, Pax.world chosen Reef to be its platform for it metaverse community. Pax provides superior audio, video, and chat options for the metaverse.
Reef worth additionally rallied after Isekaiverse adopted its community for its metaverse development. Isekaiverse is a next-generation decentralized anime metaverse primarily based on the unique TV present Mystic Reign. It was established in 2021. In a observe, Reef’s founder stated:
“Reef is thrilled to welcome Isekaiverse to our increasing ecosystem. This strategic growth is targeted on supporting the distinctive concept of Isekaiverse and delivering thrilling alternatives to our communities.”
One other key catalyst for the Reef worth was the addition of Binance as a validator of ReefChain. That was a serious subject since Binance is the most important crypto exchange on the earth. REEF was additionally listed in Bitget, a number one crypto change.
🐠 $REEF is listed on @Bitgetglobal and buying and selling is stay!
🏆 Remember to take part within the ongoing REEF buying and selling Competitors, $7,000 in REEF up for grabs!
Extra particulars: https://t.co/xo7SEF79vB
Commerce $REEF / $USDT pair: https://t.co/XMuLY842CT#BuidlTheReef #ReefChain pic.twitter.com/sZXMMxghbq
— Reef – Dependable. Extensible. Environment friendly. Quick. 🐠 (@Reef_Chain) November 3, 2022
Reef worth forecast
Reef worth surged to a excessive of $0.0066, which was the best stage on October twentieth. Because it rose, the coin surged above the necessary resistance stage at $0.0057. It rose above the 25-day and 50-day transferring common whereas the Stochastic Oscillator is on the impartial level at 50.
Reef has dropped by greater than 12% from the best stage on Tuesday. It has additionally fashioned a head and shoulders sample. Due to this fact, there’s a chance that the coin may have a bearish breakout within the close to time period. If this occurs, the subsequent key assist to observe shall be at $0.0050.
How one can purchase Reef
Binance
Binance is among the largest cryptocurrency exchanges on the earth. It’s higher suited to extra skilled traders and it provides a lot of cryptocurrencies to select from, at over 600.
Binance can be recognized for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, resembling; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
KuCoin
Kucoin is a cryptocurrency change which provides over 200 cryptocurrencies.
Kucoin has a variety of companies, resembling; a built-in peer-to-peer change, spot and margin buying and selling, financial institution stage safety and a variety of accepted cost strategies.
Customers can profit from a beginner-friendly interface and comparatively low charges.