The Request Network’s REQ token has been a massive success story in recent days. The crypto has risen by around 50% in the course of a couple of days, and investors will be keeping an eye on it to see what it does next.
The platform recently ran a hackathon, which was won by a program which promised to be “THE most degen project you’ll find”.
The Request Network did not immediately respond to a request for comment.
But what is Request (REQ)? How does Request work? Let’s see what we can find out, and also take a look at some of the Request Price Predictions that were being made as of October 11 2023.
Let’s examine some of the Request price predictions being made on October 11 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex had a short-term Request price prediction that said the token would climb to $0.1048 by October 16 before going on to reach $0.1062 by November 10. The site’s technical analysis was bullish, with 25 indicators sending positive signals and just eight making bearish ones.
Moving on, DigitalCoinPrice said that REQ would reach $0.36 in 2025. CaptainAltCoin’s Request price forecast said would be worth $0.071 that year. PricePrediction.net claimed the token would trade at $0.19 in two years time.
Looking at a more long-term Request price prediction, DigitalCoinPrice said it would be worth $1.09 in 2030. CaptainAltCoin thought it would trade at $0.1776 that year. PricePrediction.net’s REQ price prediction had it stand at $1.22 at the start of the next decade.
Now, let’s examine some of the highlights and lowlights of the Request price history. While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Request price prediction.
REQ first came onto the open market in October 2017, when it was worth about $0.04. Not long after, the market entered a bubble, and Request reached an all-time high of $1.18 on January 6. The bubble burst, the market entered a so-called crypto winter, and REQ spent much of the next three years below $0.05.
Things got better in early 2021. The market blossomed and REQ traded at more than $0.17 in April. Although it dropped over the summer, things got better later on in the year. On November 26, it traded at $1.08, before it went on to close the year at $0.3721.
2022 was not a good year for either crypto nor for REQ. The token fell below $0.10 in August, and any hopes for recovery were crushed when the FTX (FTT) exchange declared bankruptcy in November. Request closed 2022 at $0.08504, representing a year-on-year loss of more than 75%.
So far, 2023 has been mediocre – but there has been an encouraging twist in the tale. The token initially rallied, breaking past $0.10 in February, but then dropped back down. The aftermath of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges saw REQ sink to a low of $0.06906 on June 12. The crypto then recovered, spiking to $0.1091 on June 7 before dropping again. It closed October 9 at $0.06173. Then, a massive rally took place. The following day, it reached $0.103 and, on October 11 2023, Request was worth about $0.096.
At that time, there were 999.7 million REQ in circulation, representing the total supply. This gave Request a market cap of about $96 million, making it the 185th-largest crypto by that metric.
Request has shot up in recent days. Although its price at the time of writing was 6% down from the previous day, it was still up more than 50% from two days earlier. Not only that, but it is up more than 12% since the start of the year.
It is hard to say. It is unclear whether REQ’s recent movement is a spike or the basis for something more. On one hand, the Network is trying to get more people interested in it. On the other hand, a lot of its issues are summed up by CaptainAltCoin. That site says it is “very improbable” that the Request Network will become a big crypto. It adds: “Use case is definitely interesting but the implementation is miserable.
It goes on to say that “the team appears to be incompetent” and “REQ seems to be heading to zero, dying a slow death”.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in REQ.
No one can really tell right now. While the Request crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in Request, you will have to do your own research, not only on REQ, but on other, related, coins and tokens such as Ripple (XRP). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
The Request Network is a platform which stores payment requests. In effect, it not only allows people to make payments, but also records the context in which they were made.
Crypto entrepreneurs Christophe Lassuyt and Etienne Tatur founded the platform, which is based on the Ethereum (ETH) blockchain, in 2017.
The Request token, also known by its ticker handle REQ, supports the Request Network.
The Request Network allows people to request payments with just a wallet address and amount of crypto. Once the payment is sent, the system makes a record. There is a transaction fee but, because there are no intermediaries, the platform is, at least in theory, relatively inexpensive.
REQ pays for the transaction fees. Holders can also vote on changes to the network. People can also buy, sell, and trade it on exchanges.
On October 11 2023, there were there were 999.7 million REQ in circulation, representing the total supply. It could do, but not for some time. Both DigitalCoinPrice and PricePrediction.net say it can break past the dollar in 2030. Keep in mind that REQ has not traded above $1 since November 2021. The REQ token pays for transaction fees on the Request Network. Holders can vote on changes to the platform, and people can buy, sell, and trade REQ on exchanges.
How many Request are there?
Will Request reach $1?
What is Request used for?
On October 11 2023, there were there were 999.7 million REQ in circulation, representing the total supply.
It could do, but not for some time. Both DigitalCoinPrice and PricePrediction.net say it can break past the dollar in 2030.
Keep in mind that REQ has not traded above $1 since November 2021.
The REQ token pays for transaction fees on the Request Network. Holders can vote on changes to the platform, and people can buy, sell, and trade REQ on exchanges.
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Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.