Why is Reef (REEF) crypto drawing attention?

Follow us on Google News:
 Why is Reef (REEF) crypto drawing attention?
Image source: © Alexanderushkevich | Megapixl.com


  • Reef (REEF) is an EVM compatible layer-1 blockchain for DeFi, NFT, and gaming.
  • Reef is now listed on Crypto.com, a cryptocurrency exchange app with more than 250 cryptocurrencies and stablecoins listed on its platform.
  • REEF token’s total supply is 18.28 billion. 

On Thursday, Reef (REEF) announced its listing on the Crypto.com cryptocurrency exchange app. More than 250 cryptocurrencies and stables coins, including Bitcoin (BTC), Ether (ETH), Chainlink (LINK), VeChain (VET), USD Coin (USDC), Cronos (CRO), and Polkadot (DOT), are listed on Crypto.com app.

The REEF token jumped 2.79% to US$0.009902 at 12:51 pm ET on Thursday after the news. Users on the Crypto.com app can now purchase REEF and spend it at 80 million+ merchants globally using the Crypto.com Visa Card.    

Earlier this month, Reef announced to launch its own crypto card, noting that Crypto cards have become a need to meet the demand for easy-to-use crypto tools in the market. 

Reef announced to launch its own ‘Reef card’ by March-end. It has partnered with Baanx, an experienced entity in financial services. It is also integrating VISA, MasterCard, and other transaction payment systems for payment authorization. As per its official blogpost, Reef Card will be available only to REEF holders in the US and Europe at launch.

Also Read: Why is Ribbon Finance (RBN) crypto drawing attention?

What is Reef (REEF)?

The reef is an EVM compatible layer-1 blockchain for DeFi, NFT, and gaming. The word REEF stands for Reliable, Extensible, Efficient, and Fast. It is self-upgradable. Its infrastructure allows for native token bridge, schedule calls, and smart contract in-place code upgrades.

The Reef chain network runs on the Nominated Proof of Stake (NPoS) consensus mechanism, which offers scale with low fees. It was founded by Denko Mancheski, a fintech enthusiast who aims to build an advanced blockchain for small investors looking for DeFi, Gaming and NFT products with low fees and high scalability.

Also Read: Why is metaverse game Axie Infinity (AXS) rising?

Why is Reef (REEF) crypto drawing attention?Data Source: coinmarketcap.com

Also Read: Why did Quantstamp (QSP) crypto’s volume rose over 7000%?

REEF token details: 

REEF is the utility token on the Reef Network. The token is used for on-chain governance, paying transaction fees, storing data, running validator nodes, and collateral in the reef chain ecosystem. Users can also stake REEF tokens to participate in the governance process and earn rewards. Currently, there are 25,551 token holders.

The token has a current market capitalization of US$181 million. Its circulating supply is 18.28 billion REEF, and the total supply is 18.28 billion. One can trade REEF on Binance, Mandala Exchange, FTX, CoinTiger, and Hotcoin Global crypto exchange.

Also Read: Why is OriginTrail (TRAC) crypto rising?

What is Reef (REEF) Crypto?


 The Crypto market is volatile and has various risks. Hence, investors should exercise due diligence before investing in the digital assets market.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.

Featured Articles