Home Latest News REEF price prediction: What is Reef? – Capital.com

REEF price prediction: What is Reef? – Capital.com

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REEF explained
REEF price history
REEF price prediction round-up
FAQs 
By Peter Henn
Edited by Charlie Mellor
14:03, 13 September 2022
It is part of a protocol that aims to make decentralised finance (DeFi) easier to use and more accessible, but what is REEF?
Let’s take a look and see what we can find out, and also investigate some of the REEF price predictions that were being made about REEF on 13 September 2022, too. 
One of the most important ideas in terms of both cryptocurrency and blockchain technology is that of DeFi – the system based on the belief that financial transactions and services can exist without centralised banks. 
A World Bank report from 2017 said there were 1.7 billion people who did not have a bank account, but roughly 66% of them owned a mobile phone. Advocates of DeFI aim to reach these people, in the hope of promoting financial inclusion, making everyone richer and achieving a fairer version of traditional financial services. These new takes on the old systems are designed to be accessible online via the use of blockchain technology. These tools are often available in the form of decentralised apps (dApps) and can allow people to get involved in borrowing and loaning crypto, potentially earning interest in the process. 
Reef is a system that aims to make the world of DeFi more accessible and easier to use for people. Apparently standing for Reliable, Extensible, Efficient, Fast, the platform Reef was launched in 2020 and aims to serve as an all-inclusive place for people to build programs, make deals and get involved in crypto borrowing. 
REEF to USD
Using cross-chain technology to access resources from a variety of sources, Reef allows people to provide liquidity to the likes of the exchange Uniswap (UNI) and protocol Aave (AAVE), as well as working with such blockchains as Ethereum (ETH) and Avalanche (AVAX).
Every blockchain-based network needs to have its own native token, and Reef has the eponymous cryptocurrency, reef. The REEF token is designed to be used to pay for transaction fees, running nodes on the network and voting on governance decisions. It can also be bought, sold and traded on exchanges.
The Reef blockchain ecosystem was created by Macedonian crypto entrepreneur Denko Mancheski. It is worth pointing out at this stage that REEF is based on the Polakdot (DOT) blockchain, which means that it is a token, rather than a coin. You might see references to such things as a REEF coin price prediction, but these things are not, technically speaking, accurate. 
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Let’s now cast our eyes over the REEF price history. While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past means that we can gain some much-needed context if we want to either interpret an already existing reef price prediction, or else make one of our own. 
REEF first came onto the open market in December 2020, when it initially traded at around $0.23, according to CoinMarketCap. While there was a significant price drop early on, falling to below the cent in early January 2021, things soon picked up as the market went through a significant bullish phase in the first few months of that year.
The pinnacle of REEF’s achievements at this time came on 15 March, when it reached its all-time high of $0.05841. It fell down after that, perhaps inevitably, although there were returns to similar levels in May. After the Great Crypto Day Crash of 19 May 2021, the token spent the summer in the doldrums, but made something of a comeback later on in the year, reaching periodic highs of above $0.035 in early November before falling back down to close the year at $0.01834.
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So far, 2022 has not been a good year for either the overall crypto market or for REEF in particular. The shape of the token’s price chart indicates a significant overall decline. That said, there were some relatively encouraging events early on, with the token moving from a low of $0.009572 on 3 February to a high of $0.01415 on 10 February. Likewise, a small bull run in late March culminated with the token reaching $0.01266 on 2 April.
After that, though, it was downhill and, with the depegging of what was in May 2022 the UST stablecoin and the collapse of the associated LUNA cryptocurrency causing a market crash, REEF sank to an all-time low of $0.002806 on 12 May.
Although there was some recovery following that, it was kept in something of a holding pattern when the cancellation of withdrawals on the Celsius Network (CEL) crypto lending platform confirmed a bear market and REEF traded at a daily low of $0.002991 on 18 June.
Since then, there has been something of a recovery, with the 31 August’s news that Reef had launched its own debit card helping consolidate the price at somewhere around $0.003 in early September, before something of a sudden price surge meant that it was trading at somewhere around $0.00535 on 13 September 2022. At that time, REEF’s total supply of around 20 billion tokens was in circulation, giving the token a market cap of around $107m, making it the 186th largest crypto by that metric. 
With that all said and done, let’s take a look at some of the REEF price predictions that were being made as of 13 September 2022. It is important to note that price forecasts, especially when it comes to something as potentially vulnerable as cryptocurrency, very often turn out to be wrong. Also, it is worth bearing in mind that long-term crypto price predictions are often made using an algorithm, which means that they can change at any time. 
First, CryptoNewsZ had a REEF price prediction for 2022 that said that the token could have been worth $0.0164 by the end of the year. The site outlined that REEF could have achieved around $0.017 in 2023, before it could have dipped to a potential average of $0.0159 in 2024. By 2025, the site said that the token could have been trading at somewhere around $0.0218, before it went on to fall to $0.0205 in 2026. 
Next, CaptainAltCoin made a REEF crypto price prediction that outlined the token could have dropped to $0.0026 in November 2022, before it could have recovered to $0.005 in September 2023. The site then said that REEF could have been worth $0.0163 in 2025, before it potentially dropped to $0.0076 by September 2027. The site’s REEF price prediction for 2030 suggested it could have gone on $0.0408 that year and $0.0815 in 2040.
Meanwhile, CryptoPredictions.com outlined a REEF price prediction that it could have closed 2022 down at $0.004295 and up slightly at $0.00462 in September 2023. A year from then, the forecast was that the token could have traded at $0.00739. The site’s REEF price prediction for 2025 suggested it could have opened the year at about $0.0081, could have gone on to $0.0093 in September and could have closed the year at $0.009688. In 2026, the forecast was the token could have achieved $0.01068, before it could have closed the year at $0.01097.
Finally, WalletInvestor predicted REEF had a tough time ahead over the next 12 months or so, with the site’s REEF price forecast suggesting that the token could have dropped to a mere $0.000257 by September 2023. 
When considering a REEF token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
It is not particularly easy to tell right now. While, at the time of writing, the token’s price had shot up, it is still too early to tell whether this rise will be sustainable. Going forward, a lot will depend on what, if anything, REEF can do to set it apart from other, similar, crypto platforms, and how the cryptocurrency market behaves in general. 
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the REEF token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
It is difficult to say whether or not REEF will go up or down. While the likes of CryptoNewsZ are pretty optimistic about the token’s future, sites like WalletInvestor take a far more sombre and downbeat tack. It is important to recognise that price forecasts very often turn out to be wrong, and that cryptocurrencies can be highly volatile, which means that prices can go down just as easily as they can go up. 
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether REEF is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Whether you should invest in REEF is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up. 
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He is currently Editor at Inferse.com. He is a political columnist for the Finger Lakes Times, Eiram.org, and is the co-founder of InFocus.co. His passions include politics, golf, the media, and gadgets.