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Reef (REEF)

REEF price chart

Reef ranks #222 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1742: 1520 of the 1741 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 2022 non-native assets CoinSpectrum lists above it by market cap, about 61% are tokens, 33% are claims on other assets, 5% are memecoins and 1% are NFT collections.

CoinSpectrum Grade	B · 59/100 · provisional, C to A
Rank among cryptocurrencies	#222
Rank counting claims	#1742
Market capitalisation	$1M
Price	$0.0000365
Circulating supply	37,930,403,865 REEF
Maximum supply	no fixed cap
Consensus family	Proof of Stake
Consensus mechanism	NPoS (BABE + GRANDPA, Substrate EVM)
Network purpose	Smart-contract platform
Ledger type	Multi-asset ledger

Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.

CoinSpectrum Grade (Source)

B — 59 out of 100, provisional (from 9 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 46 to 67 (C to A).

Section and criteria	Score	Basis
Consensus	9.1	average of 2 criteria
By leader (its largest chain's market cap) (Source)	9.1	Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap
By family (all its chains' market cap) (Source)	9.1	Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains
Supply	5.9	the supply scale times 0.9, and a point for a fixed cap that holds
Supply (21 million scores 10)	6.5	no fixed maximum; 37.9 billion in circulation
Distribution	7.6	average of 2 parts
Holder concentration (Source)	–	Not yet measured
Active addresses	–	Not yet measured
Premine (allocated at launch)	6.3	37.2% of today's supply allocated at launch to founders, a company, a foundation or investors. Initial supply was 20,154,677,031 REEF (originally ERC-20/BEP-20, later migrated to Reef Chain). Everything except the 29.96% 'protocol emissions and liquidity rewards' pool was an insider or founder-directed allocation: team 16%, Foundation 17.57%, ecosystem 12.4%, seed 7.14%, strategic 8.33%, private 5.6%, Binance Launchpool 3%. That is 70.04%, or about 14.12B, against the current 37,930,403,865 REEF (CoinGecko, 2026-10-23). source
Fundraising (share sold) (Source)	8.9	Sold by its issuer or insiders: 11.1% of supply sold. Seed: 1.43B at $0.0007 ($1.0M). Strategic: 1.67B at $0.0009 ($1.5M). Private: 1.12B at $0.00125 ($1.4M). Total $3.9M. The Binance Launchpool tranche (600M, December 2020) was farmed, not sold. source
Developer share (after launch)	–	Not yet researched
Decentralisation	2.9	average of 4 parts
Governance (Source)	0	An authority can halt the chain or freeze funds: A live sudo key (5FbcwQHJCC74jzipjTpm2GmfmvRQ2LpmGAF2SFmfwypnA355) can dispatch any root call, including Balances.set_balance on any account and runtime replacement; it was used 14 times for set_balance, most recently on 2025-07-28. source
No central team (Source)	0	A central team directs it: Reef Finance / Reef Chain's core team controls the reef-defi repositories and the chain's sudo key; the Deep Current upgrade path is being built by Antier Solutions for Reef. source
Who can mint (Source)	7	Gated by stake: any holder with enough stake can validate: access bought with coins
Nodes (Source)	4.5	23 active validators or block producers (source: Active)
Security	7.3	4.4 of 6 points, 2 not yet measured source
Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points)	10	largest 8.33%, largest three 19.83%
Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points)	–
Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point)	1	not mined: another consensus, 1
Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point)	3	one client, no new version in 48 months (latest Aug 2022)
Open source (Node software)	✓
No 51% attack (Nor a deep reorganisation, five years)	✓
Scalability	—	too few measures yet source
Fees ($0.001 or less 10, $1 or more 0)	–	not yet measured
Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5)	–	not yet measured
Block time (10 minutes 10, less either side)	2.8	a block every 6 seconds
Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth)	–	not yet measured
Features (3 checks)	0	0 of 1 passed, 2 not yet researched
Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11)	✗	Blocks are 10 seconds apart (BABE) and GRANDPA finality follows later, so acceptance takes well over five seconds.
Pruned nodes (Old history dropped, every rule checked · Whitepaper §7)	–	reef-chain-node v10 (2022) state pruning is documented, block pruning was not established.
Light clients (Payments verified from headers · Whitepaper §8)	–	Substrate/GRANDPA light clients exist in general, but support for Reef's 2022 node was not established.
Privacy	3.5	3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source
Protocol level privacy (Keys not tied to an identity · Whitepaper §10)	10	Accounts are user-generated sr25519/ECDSA keys checked by the balances pallet, with no identity condition on transfers.
UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9)	0	An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history.
HD addresses (A new address for each payment, unlinked · Whitepaper §10)	–
Hidden amounts (Amounts confidential)	0	Balances and transfers are public.
Hidden parties (Sender and receiver hidden)	0	Sender and receiver accounts are public.
Network privacy (Origin hidden by default)	0	Substrate libp2p gossips transactions directly; no Dandelion or Tor.
Programmability	7.8	7 of 9 points source
Token issuance (At protocol level)	2	ERC-20 contracts on Reef chain's Substrate EVM, open to any account.
Smart contracts (General-purpose)	2	EVM module on Reef's Substrate chain, open to any account; its explorer indexer last showed blocks in August 2026 and the bridge closed in February 2026, so liveness is medium confidence.
Multisig and time locks (Without a third party)	✓	pallet_multisig and pallet_scheduler in the runtime, plus EVM contracts that check block time.
Atomic swaps (With other chains)	✓	Hash-locked, time-locked contracts can be written for its EVM.
Native DEX (Trades the coin itself, not a claim)	✗	No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04).
Cross-chain messaging (Verified by the chain itself)	✗	Not a parachain and no XCM in the runtime; EVMBridge links its own EVM and native layers only.
NFTs (Carried by the chain's rules)	✓	ERC-721 contracts on its EVM.
Demand	4.1	average of 7 measures
Exchanges (10 or more: 10)	2	2 exchanges
Daily volume ($10K 0, $1B or more 10)	1.4	$58,959 traded in 24 hours; #1909 by volume on the exchanges the site reads (scored on the median day of the last 30, $52,102)
Turnover (volume ÷ market cap, 5% a day: 10)	9.8	4.5% of its market cap a day, median of the last 30 days
Order-book depth (±2% of the price ÷ market cap, 1%: 10)	4.3	$264 within 2% of the price on 1 exchange, 0.02% of its market cap, median of the last 15 days
Market cap ($1M 0, $10B or more 10)	0.4	$1.4M, 0.4 on a scale of 2.5 points per tenfold
Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0)	10	no futures, options or margin on the exchanges read
Wallet support (wallets that hold it, 10 or more: 10)	1	its own node and wallet, counted as 1: no wallet in the site's directory lists it yet
Record	5	average of 3 criteria
Age (years since genesis) (Source)	5	5 full years since 2020-12-29, the first day with a recorded price (genesis not yet researched, so the age can only be understated).
Development (work, fixes, vulnerabilities)	0	0 positive, 1 negative source
Negative
Steady work, 0 of 6	✗	0 commits in 0 of the last 12 months (github.com/reef-defi/reef-chain); The node's last release is reef-chain v10 (github.com/reef-defi/reef-chain, 2022-08-03; last commit 2022-08-18), applied on-chain by sudo set_code the same day. The 'Deep Current' upgrade to polkadot-sdk stable2512 has run only on the Pelagia testnet (opened May 2026), with no mainnet release.
Conduct (origin, claims, halts)	10	3 positive, 0 negative source
Positive record
Launched with a stated purpose, not as a joke	✓
No claims by its founders that contradict its own design	✓
No halt, freeze or reversal in five years	✓

Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.

Proof of Stake coins

Proof of Work coins

Supply

37,930,403,865 REEF are in circulation, against no fixed cap — issuance has no defined end.

Launch and allocation

Premine (allocated at launch)	37.2% of today's supply
Sold by the issuer or insiders	11.1% of today's supply
Nodes or validators	23
Fundraising	Private or venture funding

Initial supply was 20,154,677,031 REEF (originally ERC-20/BEP-20, later migrated to Reef Chain). Everything except the 29.96% 'protocol emissions and liquidity rewards' pool was an insider or founder-directed allocation: team 16%, Foundation 17.57%, ecosystem 12.4%, seed 7.14%, strategic 8.33%, private 5.6%, Binance Launchpool 3%. That is 70.04%, or about 14.12B, against the current 37,930,403,865 REEF (CoinGecko, 2026-10-23).

Seed: 1.43B at $0.0007 ($1.0M). Strategic: 1.67B at $0.0009 ($1.5M). Private: 1.12B at $0.00125 ($1.4M). Total $3.9M. The Binance Launchpool tranche (600M, December 2020) was farmed, not sold.

Not established. In the Reef runtime, NPoS staking rewards go to validators and nominators, the reward remainder is burned (RewardRemainder = ()), and fees are burned, so there is no treasury cut. However, the proof-of-commitment module pays the elected Technical Council 1% of total issuance per year (CouncilInflation). Whether that council is seated and paid on the live chain, and what share of issuance it represents, could not be verified; the public runtime source was last updated in 2022.

The site has no label yet. The allocation table is from Binance Research's project profile; BingX gives different rounds (private 16%, seed 9%). Whether part of Reef Chain's inflation went to a council-controlled treasury rather than stakers was not established; any such share would raise the figure.

Sources: github.com · github.com · binance.com · bingx.com · coingecko.com. Researched 2026-10-26, low confidence.

What a regulator has said

No SEC/CFTC determination — unclassified.

The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.

How CoinSpectrum ranks Reef

Reef is #222 among cryptocurrencies and #1742 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 1520 places between Reef's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.

The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).