Reef (REEF) token rose to $0.010 on Monday, Oct. 14, up by over 1,500% from its lowest level this year, making it one of the best-performing cryptocurrencies.
Reef Finance (REEF) Surges 1,500% After Binance Delisting
Reef (REEF) token surged to $0.010 on Monday, up by over 1,500% from its lowest level this year, making it one of the best-performing cryptocurrencies.
Notably, the REEF coin has risen by almost 1,200% since Aug. 26, when it was delisted by Binance, the biggest crypto exchange in the industry. Its market cap has jumped to over $223 million.
In a statement at the time, Binance also delisted other tokens like ForTube, Loom Network, VGX Token, and Ellipsis. It cited several factors such as low trading volume and liquidity, the commitment of the team to the project, new regulatory requirements, and smart contract stability.
Most of Reef’s trading has shifted to other centralized exchanges. According to CoinGecko, WhiteBit had the biggest share of trading volume in the last 24 hours. It is followed by other exchanges like HTX, KuCoin, and Bitget.
This rebound is likely due to the developers making significant improvements after the Binance delisting. They initiated a new community developer fund to incentivize developers in the ecosystem. Some of the potential dApps to be funded include those in industries such as lending, DAO infrastructure, and hardware.
Reef has also made other progress since the Binance delisting. For example, Hydra Coin announced that it was building the first NFT battle card game on the Reef Chain.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
