REEF Crypto Information: Value Drops by 65% However Holders Proceed to Develop
The REEF token has been on a rollercoaster journey in latest months, seeing important value fluctuations since its delisting from Binance spot buying and selling on August 2, 2024.
Regardless of going through challenges, REEF surged by over 650% after the delisting, reaching a excessive of $0.006278. Nevertheless, this exceptional rally was short-lived, because the token has just lately skilled a pointy decline in worth.
REEF Drops 65% in 24 Hours After 650% Surge Following Binance Delisting
Following its spectacular surge, the REEF token took a sudden plunge, dropping 65% to its present value of $0.002211.
The market cap additionally noticed a 65.50% discount. Regardless of this sharp drop, the buying and selling quantity has surged by 155.95% over the previous 24 hours, reaching $356.67 million. Most of this exercise is coming from exchanges like WhiteBit, HTX, KuCoin, and Bitget.
Moreover, the variety of REEF token holders has elevated, with practically 23,000 holders as of now. Whereas some analysts have labeled this value drop as a “pump and dump,” others, reminiscent of Guru Vedas, see the present value as a possibility for brand spanking new buyers, predicting a possible restoration and bullish pattern quickly.
Binance delist REEF on account of considerations over low buying and selling quantity and liquidity, in addition to regulatory necessities. Nevertheless, the REEF growth crew has been engaged on revitalizing the venture, establishing a neighborhood fund to help decentralized organizations (DAOs) and lending platforms.
A notable venture in growth is a collaboration with Hydra Coin to launch an NFT battle card recreation on the Reef Chain. REEF has additionally partnered with VIA Labs to enhance cross-chain bridging and interoperability inside the blockchain house.
Conclusion
Regardless of the latest 65% value drop, the REEF token continues to attract consideration from merchants and buyers alike. Whereas some view the decline as a short lived setback, others see it as an entry level for future features.
The REEF crew’s ongoing efforts to innovate and increase the venture, together with new partnerships and initiatives, might assist the token regain its momentum in the long run.
Learn Extra: X Empire Pre Market Value on Bitget: Examine $X Itemizing Date In the present day