Triaconta Weekly #239

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • What is Reef?

Bundle performance
It seems like spring in the Netherlands, and the new year is off to a particularly good start for the crypto market as well. Several economists expect an end to the European Central Bank’s interest rate hikes this summer and stock markets are usually six months ahead. Most wages in the Netherlands are rising and the price cap on energy costs is also apparently giving crypto investors room to do some additional buying again. The upswingis panning out well for Bundles, which are all showing nice positive returns again this first week of 2023.

Big3:
1 Month: -4.08% | 7D: +3.38% | 24H: 0.13%

Top30:
1 Month: -16.52% | 7D: +8.82% | 24H: -1.63%

Penny:
1 Month: -21.55% | 7D: +8.08% | 24H: -2.02%

DeFi:
1 Month: -12.99% | 7D: +11.54% | 24H: -2.36%

Winners & Losers
Fetch.AI (+39%) is having the very best week with its mission to bring artificial intelligence and machine learning to Web3. Lido DAO (+38%) just passed rival Maker in the amount of crypto locked up on its DeFi platform. Solana (+37%) is bouncing up considerably this week but was also down quite a bit in the 2nd half of last year. Jasmycoin (+26%) and Near Protocol (+20%) give the PennyStock and DeFi bundle an additional push up. We will of course follow whether these gains will continue. One good week is not yet a trend reversal, unfortunately.

What is Reef ?

Reef token is the cryptocurrency of Reef finance which tries to combine the best DeFi solution on a simple and above all user-oriented platform. Reef has been part of the PennyStock bundle since the December revision.

Who is Reef finance ?
Denko Macheski, CEO of Reef recognized a lot of potential future in DeFi but mostly saw a lot of unnecessary complexity that can lead to lack of security and transparency. He also saw the problem only growing with the proliferation of different blockchains and projects with little or no ability to communicate with each other. So at Reef, the focus is entirely on simple access to DeFi and interoperability with other blockchains.

Reef Technology
Reef Finance started as DeFi parachain on Polkadot (DOT) and since November 2021 has its own blockchain today under the name Reef due to the extensions with NFTs & Gaming. Reef is built with Substrate, a development platform that allows you to easily and reliably build difficult things like connections to other blockchains at low cost and with unlimited scalability. Reef consists of several collaborating components.

The Global Liquidity Aggregator can connect to major crypto trading platforms and decentralized exchanges to bring all orders together. The Smart Yield Farming Aggregator lets users use Reef to lock their crypto on other platforms and receive rewards for doing so. This is risky but remains popular in the crypto space.
Reef is also developing some revolutionary combinations of AI and machine learning applied to DeFi. Like all of us, their AI Personalized Smart Engine attempts to create actionable insights from the combination of hard data, social media and news and tailor that to the user to support them in making decisions (Augmented Decision Making) which should then lead to objective and successful portfolio management (Smart Asset Management).

Reef price
Reef did their Initial Coin Offering in September 2020 and sold 4 billion tokens for an average price of $0.00095. The highest price paid for the Reef token is $0.05 on March 15, 2021. 2022 was not a good crypto year and Reef was no exception. The current price is around $0.0025 or 95% below that all-time high. Technically often a good time to get in, and a possible reason for this coin’s high trading volume. Reef is also outperforming similar projects like Orion Protocol and Acala Network. It’s pretty obvious to think that Reef price is going to rise as the number of users grows and their customers use the platform more. As long as Reef stays engaged in bringing together new and existing DeFi capabilities from other platforms and finds more partners who want to combine or integrate the Reef platform with their own financial services, it will work out just fine.