DeFi Crypto Project Under the Radar Rise 30% in One Week, Challenging the Digital Asset Market

The decentralized finance (DeFi) blockchain project has jumped under the radar by 30% this week, challenging the entire crypto market.

Reef (REEF) — a Layer 1 EVM-enabled blockchain for DeFi, non-fungible tokens (NFTs) and games — is trading at $0.005001 at the time of writing, down from $0.003847 seven days ago.

The 244th crypto asset by market capitalization has also surged more than 5% in the past 24 hours.

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At the end of August, Binance.US listed REEF. Days later, Reef dropped the “Reef Card,” an encrypted MasterCard debit card, for customers in the UK and Europe, according to a press release.

The card converts customers’ crypto into fiat currency at the time of purchase and can be used at more than 90 million merchants. Cardholders can also withdraw fiat currency at some ATMs.

This week, it was REEF existing On the Canadian cryptocurrency exchange Biconomy. Moreover, the project recently Advertising Partnership with Web3 EPNS Decentralized Communication Protocol. The partnership enables instant and automatic notifications when Reef users’ assets are linked through the Reef Chain.

The total market capitalization of cryptocurrencies has fallen by nearly 3% in the past seven days. Although REEF prices have risen, it is still down more than 91% from its all-time high of $0.057,460 reached in March 2021.

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