Reef

Hydra

Bitcoin

Hydra Coin

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Reef Finance, a blockchain for decentralized finance, gaming, and non-fungible tokens, has surged in the two months since Binance delisted it. 
Reef (<a href="https://crypto.news/price/reef/" target="_blank">REEF</a>) 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. 
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. 
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 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/10/Reef-Price-M.png" alt="Reef Finance price" class="wp-image-14303600">
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 Reef price performance since Aug. 26 | Source: <a href="https://www.tradingview.com/symbols/REEFUSD/?exchange=CRYPTO" target="_blank" rel="nofollow">TradingView</a>
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In a <a href="https://www.binance.com/en/square/post/14411092185154" target="_blank" rel="nofollow">statement at the time</a>, 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 <a href="https://www.coingecko.com/en/coins/reef" target="_blank" rel="nofollow">CoinGecko</a>, WhiteBit had the biggest share of trading volume in the last 24 hours. It is followed by other exchanges like HTX, KuCoin, and Bitget. 
 You might also like: <a rel="" href="https://crypto.news/reef-price-rebounds-as-futures-open-interest-hits-2-year-high/"> Reef price rebounds as futures open interest hits 2-year high </a> 
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 <a rel="" href="https://crypto.news/a-complete-guide-to-nfts/">NFT</a> battle card game on the Reef Chain. 
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 <a href="https://twitter.com/search?q=%24HYDRA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$HYDRA</a> is building the first <a href="https://twitter.com/hashtag/NFT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#NFT</a> Battle Card game on <a href="https://twitter.com/Reef_Chain?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@Reef_Chain</a> ♣️ We’re also working on multiple streams of <a href="https://twitter.com/search?q=%24HYDRA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$HYDRA</a> utility including NFT purchases and merchandise 👀 Now live on <a href="https://twitter.com/ReefSwap?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@ReefSwap</a> 🐠<a rel="nofollow" href="https://t.co/XecinHeu0L" target="_blank">https://t.co/XecinHeu0L</a><a href="https://twitter.com/hashtag/ReefChain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#ReefChain</a> <a href="https://twitter.com/hashtag/Reef?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Reef</a> <a href="https://twitter.com/search?q=%24Reef&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$Reef</a> <a href="https://twitter.com/hashtag/Meme?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Meme</a> <a href="https://twitter.com/hashtag/MemeUtility?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#MemeUtility</a> <a rel="nofollow" href="https://t.co/VyqIzAaCSM" target="_blank">pic.twitter.com/VyqIzAaCSM</a>— Hydra Coin (@HydraCoinX) <a href="https://twitter.com/HydraCoinX/status/1845558202257023296?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 13, 2024</a>
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Additionally, the developers <a rel="nofollow" href="https://x.com/Reef_Chain" target="_blank">are collaborating with VIA Labs</a>, a blockchain bridging solution, which will begin bridge development this week. They are also in discussions with perpetual decentralized exchanges about revenue sharing and RPC infrastructure providers. 
Reef has also gained momentum as the number of holders has increased. According to <a href="https://www.coincarp.com/currencies/reef/richlist/" target="_blank" rel="nofollow">CoinCarp</a>, the token now has almost 23,000 holders, significantly higher than its level before the Binance delisting. 
<h2 class="wp-block-heading" id="reef-token-has-become-overbought">Reef token has become overbought</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/10/REEF-Price.png" alt="Reef price" class="wp-image-14303599">
 <figcaption class="wp-element-caption">
 Reef Finance price chart | Source: <a href="https://www.tradingview.com/symbols/REEFUSD/?exchange=CRYPTO" target="_blank" rel="nofollow">TradingView</a>
 </figcaption>
</figure> 
Reef’s surge continued as Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) and other cryptocurrencies maintained their strong rebound on Monday. It has flipped the key resistance point at $0.0053, its highest swing since March 2024. 
Reef has remained above the 50-day and 100-day Exponential Moving Averages, which is a bullish sign. However, the Relative Strength Index and the Stochastic Oscillator have moved to overbought levels. 
Therefore, while more gains are possible, the coin may experience a pullback in the coming days due to profit-taking. If this happens, it may retest the key support at $0.0053. 
 You might also like: <a rel="" href="https://crypto.news/bitcoin-price-charts-point-to-explosive-gains-in-the-long-term/"> Bitcoin price charts point to explosive gains in the long term </a>

Reef Finance triumphs, token up 1,200% since Binance delisting

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