The cryptocurrency REEF has experienced a significant drop in value for several reasons:

Delisting from Binance: In August 2024, Binance decided to delist REEF from most of its trading products, including the REEF/USDT and REEF/TRY pairs. Delisting from such a major exchange greatly impacted investor confidence and liquidity. Although perpetual contracts for REEF remained available, the news led to a sell-off among holders​
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Security Breaches on Exchanges: In September 2024, one of the exchanges supporting REEF experienced a hot wallet breach, raising concerns about the safety of assets, which likely contributed to the price decline​
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Despite these setbacks, the REEF project continues to develop its ecosystem, including products like ReefSwap, which could potentially stabilize the price in the future.

Investor confidence in REEF has been shaken due to recent delisting from Binance and security breaches on supporting exchanges. These challenges have undoubtedly impacted the token's value. However, the ongoing development of ReefSwap shows promise for potential price stabilization in the future. Stay tuned for updates on how the project navigates these hurdles.