Reef worth defied gravity on Tuesday as cryptocurrency costs retreated. The little-known coin surged to a excessive of $0.0067, which was the very 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 few of the high purposes 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 carried out properly previously few weeks as buyers cheer the community’s enlargement. 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 based mostly on the unique TV present Mystic Reign. It was established in 2021. In a be aware, Reef’s founder mentioned:
“Reef is thrilled to welcome Isekaiverse to our increasing ecosystem. This strategic growth is concentrated on supporting the distinctive thought 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 significant subject since Binance is the largest crypto exchange on the earth. REEF was additionally listed in Bitget, a number one crypto alternate.
🏆 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
— 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 very best stage on October twentieth. Because it rose, the coin surged above the vital 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 very best stage on Tuesday. It has additionally fashioned a head and shoulders sample. Due to this fact, there’s a chance that the coin can have a bearish breakout within the close to time period. If this occurs, the subsequent key help to look at will probably be at $0.0050.
How one can purchase Reef
Binance is likely one of the largest cryptocurrency exchanges on the earth. It’s higher suited to extra skilled buyers and it provides a lot of cryptocurrencies to select from, at over 600.
Binance can be identified for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, reminiscent of; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
Kucoin is a cryptocurrency alternate which provides over 200 cryptocurrencies.
Kucoin has a variety of companies, reminiscent of; a built-in peer-to-peer alternate, 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.