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What Is Reef

Reef is a DeFi (decentralized finance) platform built on Polkadot with the intention of being straightforward, without the barriers and complications found on other platforms. They express a mission of making DeFi easy and accessible to more people, and have designed their platform accordingly.[1]

On Reef, users can perform cross-chain trading thanks to how Reef Chain integrates with DeFi from Ethereum, Polkadot, Avalanche, Cosmos and Binance Smart Chain. According to the team, Reef Chain is much more advanced than Ethereum; for instance, it has a higher transaction throughput and low transaction fees, and is more efficient with blockchain storage.[1][2]

On top of trading, users can port their DeFi applications from Ethereum to the Reef Chain without having to modify their Solidity code, and soon, will have access to a liquidity bridge where they can wrap existing DeFi assets and transfer liquidity from Ethereum to the Reef Chain.[1]

REEF is the native token of Reef Finance, and as we’ll soon cover down below, is used for governance and gas fees. It recently launched on Binance, and is available on many DEXes (decentralized exchanges).

Below we take a look at REEF and examine some details and predictions to estimate a reasonable price for 2021, as well as for the upcoming years. It should be noted that while price predictions are based on data, and often are analyzed by AI, they should never be taken as financial advice or a solid basis for an investment. It is always highly recommended users do their own research into the projects whose tokens they wish to invest in.

The whole crypto market is currently on the verge of a real bull run.

There is no broader consensus as crypto analysts are divided as some of them are still calling this market a bull trap.

Others, lead by famous on-chain experts like Will Clemente and Willy Woo, are calling this a preparation stage for a face-melting bull run. As always, bitcoin has the final say and altcoins will follow suit once the flag bearer decides the direction. Right now, Bitcoin is sucking the life out of altcoins but once it settles in the new price range, altcoins will start to pump - we have witnessed this scenario dozens of times in the distanced and more recent history.

Our price prediction model is bullish for the next 90 days with a hint of a bear market at the turn of the year. We expect whales and other bigger players in the market to take their profits around that time which will cause a typical and sudden crypto crash.

CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project.

Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.

Below is a tabular overview of how will REEF develop in the short-term (for the next 90 days), according to our prediction model:

REEF is the native currency of Reef, and it is used for on-chain governance with NPoS (nominated proof-of-stake) and PoC (proof-of-concept). By participating in governance through staking, users can earn rewards in return.[1]

Furthermore they can be used for transaction fees on the platform, which can come in handy for stakers who earn rewards in REEF. The token is also available as ERC-20 on Ethereum and Binance Smart Chain and will be made convertible 1:1 with native Reef Chain tokens.[1]

According to data gathered from Messari and Coinmarketcap:

The max supply of REEF is 20,000,000,000

Of which, the current total sits at ~15,934,019,762, with ~12,670,000,000 in circulation

And an upcoming inflation rate yet to be calculated

Some supplemental data:

According to Coinmarketcap, the top 10 holders hold ~74.88% of REEFs

Messari calculates its current marketcap dominance percent at ~0.0166% 

And Coinmarketcap ranks it at ~#136 in the market

There is a key distinction between “max supply” and “total supply”. Total supply is how many tokens have been created so far, and max supply is the maximum amount that there can ever be. Since the max supply has been determined in the case of REEF, there can be no more than 20,000,000,000 REEF tokens, which means users don’t have to worry about unexpected inflation in the future.

The data presented above can be subject to change, always visit the source for up-to-date information: Messari – Coinmarketcap

Reef was founded by CEO Denko Mancheski in 2020. From a young age Denko was into maths, competitive gaming and computer sciences. He started programming in high school and would compete in algorithmic competitions for a few years before moving into commercial software development, and working for enterprise and healthcare tech companies.[3][4]

Being fascinated by fintech he was interested in blockchain technology early on, and saw its potential upon seeing the difficulty of innovation in fintech on account of overregulation and saturation in the industry.[3]

Reef was born when he witnessed certain problems in the DeFi space, problems such as complexity and technical limitations. He put together what he described as a team of competent individuals with the ability to execute, and as a result, Reef came to be.[3][5]

On Twitter is where they frequently engage with the public and the community, posting updates, statements, news and more. Their posts are often accompanied by their graphical art styles, sometimes including animations and gifs. They are focused more so on their work rather than the token and its price, which is a good indicator and inspires some confidence in the team.

Their company and team info can be viewed on their Linkedin, and for news and updates, the team uploads short articles on their blog page on Medium.

There is nothing that stands out in terms of their tone of voice; it is modern and on par with PR standards, albeit, sometimes including trendy vocabulary. Brand imagery on the other hand is on a different level in contrast to other projects. Beautiful coral landscapes are often depicted, full of diverse marine life, accompanied by the colors of the reef and the sunset. 

Their Twitter currently has ~178,200 followers, where their tweets get hundreds of comments and retweets, and sometimes even thousands of likes. Their Medium blog page has ~4,800 followers, and the articles posted there see hundreds of claps (likes).

They have a Discord channel currently hosting ~1,300 members, and a Telegram group

With ~38,500 members from around the globe. Lastly, ~12,200 members are located in the Reef subreddit, where they share news, start discussions and post memes.

#Reef and $Reef are tweeted several times throughout  the hour.

Overall the community is rather active on several media, and upon observing their attitudes and comments, it seems like they have a lot of faith in the project; which, while is a good thing, may turn some channels into echo chambers, where positive and reinforcing news is circulated, and critical points aren’t given enough attention. Newcomers should always be wary of potential emotional distractions prior to joining groups.

Currently REEF can be traded on ~26 exchanges[6], and there are at least 5 widely-known and trusted wallets in which users can store their REEFs.

Our prediction model sees a temporary switch to a bear market at the beginning of 2022 before we move onto another leg up in Q3 & Q4 of 2022.

Here are what price predictors are forecasting for REEF:

Wallet Investor*

Wallet Investor forecasts a price of ~$0.03 (+50%**) to be reached in a year’s time, and ~$0.08 (+300%**) in 5 years. It ranks REEF as a C in terms of price predictability, which does not signify confidence.

Digital Coin Price*

According to Digital Coin Price, REEF could reach ~$0.03 (+50%**) by the end of 2021, and ~$0.07 (+250%**) by the end of 2026.

Trading Beasts*

Trading Beasts predicts a price of ~$0.02 (+0%**) by the end of 2021, and that of ~$0.05 (+175%**) by the end of 2024.

*These predictions are merely supplemental data and should not be taken as financial advice

**Percentages are based on current value and could change anytime

Our prediction model sees REEF reaching new highs in 2025:

The price of Reef Finance in 5 years could lie around $ 0.133, according to CaptainAltcoin’s prediction model.

REEF can be bought and sold on ~26 exchanges including Binance, Uniswap and FTX.[6]

The process of buying crypto can differ from exchange to exchange, but here are solid guidelines on how to buy REEF:

Already have an account on an exchange that supports REEF?

Or

Note: When buying or swapping tokens, some exchanges may have minimum amounts in place. Additionally, most exchanges issue varying fees for purchases and swaps.

Here are some trusted wallets that support REEF:

Binance

Trust Wallet

MetaMask

Trezor (hardware wallet)

Ledger (hardware wallet)

Note: It is important to keep in mind that not every exchange offers users the private keys to their wallets. Furthermore, some exchanges may have minimum withdrawal amounts and withdrawal fees in place, and these fees differ from exchange to exchange.

Reef is very versatile, and checks most of the boxes for a successful DeFi platform. The interoperability it offers, or the IDO launching on ReefStarter, or wasteless mining… built with scalability and upgradability in mind, it has laid the right foundations for a future-proof platform.

It is a recent project as it only launched last year, and has a lot of features planned to be released in the near future such as NFT baskets, a mobile app and the liquidity bridge. All these factors support the forecasts shared above, making REEF a potentially profitable token.

References & Resources:

[1] Reef.finance

[2] Docs.reef.finance

[3] Reefdefi.medium.com/denko-mancheski

[4] Coinmarketcap.com/reef

[5] Reefdefi.medium.com/introducing-reef

[6] Coinmarketcap.com/reef/markets

Coinmarketcap

Messari

Walletinvestor

Digitalcoinprice

Tradingbeasts

Also, you might want to check out other price predictions:

The post Reef Finance Price Prediction 2022 – 2025 – 2030 | REEF Price Forecast appeared first on CaptainAltcoin.

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