An under-the-radar decentralized finance (DeFi) blockchain project is surging 30% this week, defying the overall crypto market.
Reef (REEF) – a layer-1, EVM-compatible blockchain for DeFi, non-fungible tokens (NFTs) and gaming – is trading at $0.005001 at time of writing, up from $0.003847 seven days ago.
The 244th-ranked crypto asset by market cap is also up more than 5% in the past 24 hours.
At the end of August, Binance.US listed REEF. A few days later, Reef dropped the “Reef Card,” a Mastercard crypto debit card, to customers in the United Kingdom and Europe, according to a press release.
The card converts customers’ crypto into fiat currencies at time of purchase, and it can be used at more than 90 million merchants. Cardholders can also withdraw fiat currencies at select ATMs.
This week, REEF was listed on Canadian crypto exchange Biconomy. Additionally, the project recently announced a partnership with Web3 decentralized communication protocol EPNS. The partnership enables instant and automatic notifications when Reef users’ assets are bridged through Reef Chain.
The overall crypto market cap is down nearly 3% in the past seven days. Despite REEF’s price surge, it remains down more than 91% from its all-time high of $0.057460, which it hit in March 2021.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/eliahinsomnia/Sensvector
The post Under-the-Radar DeFi Crypto Project Surges 30% in One Week, Defying Digital Asset Market appeared first on The Daily Hodl.
