Coral reefs are of great significance in marine ecosystems as they provide habitat and shelter for a wide variety of marine species. They support biodiversity by hosting numerous fish, invertebrates, and algae species. Additionally, coral reefs contribute to the overall health of the oceans by acting as carbon sinks, protecting coastlines from erosion, and supporting local economies through tourism and fisheries. Overall, coral reefs play a crucial role in maintaining the balance and health of marine ecosystems.