- A little-known decentralized finance (DeFi) cryptocurrency is up 30 percent this week, defying the decline in the overall crypto market.
DeFi is an EVM-compatible layer-1 blockchain project designed for non-fungible tokens (NFTs) and gaming. Reef Finance (REEF) It rose from last week’s low of $0.003847 to $0.005001 at the time of writing.
The cryptocurrency, which ranks 244th by market value, has increased by more than 5 percent in the last 24 hours.
At the end of August, popular cryptocurrency exchange Binance.US listed REEF. A few days after this listing, according to a press release shared by the platform, Reef introduced the “Reef Card”, a Mastercard crypto debit card, to its customers in the UK and Europe.
The card, which can be used by more than 90 million merchants, will be able to convert customers’ cryptocurrency into fiat currency at the time of purchase. In addition, cardholders will be able to withdraw their assets as fiat money at certain ATMs.
In addition, this week, REEF was listed by Canadian-based cryptocurrency exchange Biconomy. In addition, the project recently announced a partnership with the Web3 decentralized communication protocol EPNS. As a result of the partnership, Reef Finance users will now receive instant and automatic notifications when their assets are bridged through the Reef Chain.
🔥 $REEF is listed on @Biconomy_Global!
Reef enters Canada 🇨🇦 with its listing on Biconomy, Canada’s biggest crypto exchange platform, opening new opportunities for our community to grow.
Pair: $REEF/$USDT https://t.co/lNO51wmzTk pic.twitter.com/A9TP7rZADV
— Reef – Reliable. Extensible. Efficient fast. 🐠 (@Reef_Chain) September 15, 2022
While the value of the overall crypto market has fallen by about 3 percent in the last seven days, REEF has also managed to stay unaffected in light of these developments. Despite REEF’s price increase, the altcoin is still trading down 91 percent from its all-time high of $0.057460 reached in March 2021.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.