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Under-the-Radar DeFi Crypto Project Surges 30% in One Week, Defying Digital Asset Market

An under-the-radar decentralized finance (DeFi) blockchain undertaking is surging 30% this week, defying the general crypto market.

Reef (REEF) – a layer-1, EVM-compatible blockchain for DeFi, non-fungible tokens (NFTs) and gaming – is buying and selling at $0.005001 at time of writing, up from $0.003847 seven days in the past.

The 244th-ranked crypto asset by market cap can be up greater than 5% in the previous 24 hours.

At the top of August, Binance.US listed REEF. A number of days later, Reef dropped the “Reef Card,” a Mastercard crypto debit card, to prospects in the United Kingdom and Europe, in keeping with a press launch.

The card converts prospects’ crypto into fiat currencies at time of buy, and it may be used at greater than 90 million retailers. Cardholders may withdraw fiat currencies at choose ATMs.

This week, REEF was listed on Canadian crypto change Biconomy. Additionally, the undertaking just lately announced a partnership with Web3 decentralized communication protocol EPNS. The partnership permits prompt and computerized notifications when Reef customers’ belongings are bridged by means of Reef Chain.

The total crypto market cap is down almost 3% in the previous seven days. Despite REEF’s price surge, it stays down greater than 91% from its all-time excessive of $0.057460, which it hit in March 2021.

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Disclaimer: Opinions expressed at The Daily Hodl should not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses chances are you’ll incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please be aware that The Daily Hodl participates in internet affiliate marketing.

Featured Image: Shutterstock/eliahinsomnia/Sensvector

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