Alameda Research invests $20M in Reef Finance
The investment will reportedly allow Reef to implement more cross-chain integrations with Serum and Raydium on Solana. After investing in travel app Maps.me and decentralized finance protocol Oxygen, Alameda Research will be putting $20 million into Reef Finance, the Polkadot-based DeFi platform.According to Reef Finance, Alameda Research will be purchasing $20 million worth of the firm’s native tokens, REEF — roughly 528 million at the current price of $0.03787. The investment will reportedly allow the two companies to collaborate on technology and strategy “in the near future.” Reef CEO....
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The DeFi market continues to heat up, with Alameda Research identifying Southeast Asia as a potential growth hub. Alameda Research has expanded its investment portfolio by allocating $4 million to Coin98 Finance, an up-and-coming decentralized finance platform from Vietnam, according to Chinese fintech outlet ChainNews.Coin98 Ventures, the venture capital firm behind Coin98, reportedly operates the biggest cryptocurrency fund in Vietnam and is also a key backer of the Solana Ecosystem Fund, which recently raised $40 million in strategic investments from major digital currency exchanges. As....
REEF looks bullish on a lower timeframe Price reclaims 50 exponential moving average (EMA) on the daily timeframe REEF price gets rejected by 200 EMA acting as resistance on the daily timeframe. Reef finance (REEF) has had a tough time recently but has shown great strength bouncing up in a lower timeframe. Reef finance has struggled to remain bullish as the price fell from an all-time high of $0.3 to $0.0048, with the price maintaining a downtrend with little hope of a relief rally or bounce against tether (USDT). (Data from Binance) Related Reading: Optimism Analysis: Latest Figures....
REEF price continues to show the market how it is done as price trends in the green zone for two straight days. REEF trades above key resistance as price breaks out of range holding above 8 and 20-day EMA. The price of REEF eyes a recapture of $0.01 as key resistance was flipped into support. The price of Reef Finance has continued to show its strength as price trends with double-digit gains against tether (USDT) on two separate days in a row. With the crypto market cap bouncing from its weekly low as the market continued to look promising, the price of Reef Finance was not left out as....
Sam Bankman-Fried’s Alameda Research has invested $3 million in trading platform 3Commas.
DeFi on Ethereum is costly and congested. Can other base layers step up? Polkadot's Reef Finance has raised $3.9 million to try.