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Reef price defied gravity on Tuesday as cryptocurrency costs retreated. The little-known coin surged to a excessive of $0.0067, which was the very best degree since October twentieth. It has jumped by greater than 20% from the bottom degree this week.
Why is REEF hovering?
Reef, which stands for Reliable Extensible Efficient and Fast, is an Ethereum Virtual Machine (EVM) community. It is an EVM-compatible blockchain community for Decentralized Finance (DeFi). Some of its high options are quick, scalable, and low transaction prices. It was created utilizing the Substrate Framework.
Reef’s ecosystem is rising. Some of the highest functions in its ecosystem are Reef app, Reef extension, Reefscan, Subscan, and Reefswap. Reefswap is just like Uniswap whereas Swid is the primary NFT market within the Reef ecosystem.
Reef price has achieved properly up to now few weeks as buyers cheer the community’s enlargement. In October, Pax.world chosen Reef to be its platform for it metaverse community. Pax presents superior audio, video, and chat options for the metaverse.
Reef price 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 notice, Reef’s founder mentioned:
“Reef is thrilled to welcome Isekaiverse to our expanding ecosystem. This strategic development is focused on supporting the unique idea of Isekaiverse and delivering exciting opportunities to our communities.”
Another key catalyst for the Reef price was the addition of Binance as a validator of ReefChain. That was a serious difficulty since Binance is the most important crypto exchange on the earth. REEF was additionally listed in Bitget, a number one crypto trade.
🐠 $REEF is listed on @Bitgetglobal and buying and selling is reside!
🏆 Don’t overlook to take part within the ongoing REEF buying and selling Competition, $7,000 in REEF up for grabs!
More particulars: https://t.co/xo7SEF79vB
Trade $REEF / $USDT pair: https://t.co/XMuLY842CT#BuidlTheReef #ReefChain pic.twitter.com/sZXMMxghbq
— Reef – Reliable. Extensible. Efficient. Fast. 🐠 (@Reef_Chain) November 3, 2022
Reef price forecast
Reef price surged to a excessive of $0.0066, which was the very best degree on October twentieth. As it rose, the coin surged above the necessary resistance degree 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 degree on Tuesday. It has additionally fashioned a head and shoulders sample. Therefore, there’s a probability that the coin can have a bearish breakout within the close to time period. If this occurs, the following key assist to observe will probably be at $0.0050.
How to purchase Reef
Binance
Binance is without doubt one of the largest cryptocurrency exchanges on the earth. It is healthier suited to extra skilled buyers and it presents 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, such as; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
KuCoin
Kucoin is a cryptocurrency trade which presents over 200 cryptocurrencies.
Kucoin has a variety of companies, such as; a built-in peer-to-peer trade, spot and margin buying and selling, financial institution degree safety and a variety of accepted cost strategies.
Users can profit from a beginner-friendly interface and comparatively low charges.
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