Key Takeaways
- REQ had a pretty underwhelming 2023.
- The Request Network helps keep a record of crypto transactions.
- Can REQ make a breakthrough?
- One Request price prediction says REQ can reach $0.24 next year.
The Request Network’s REQ token spiked in October 2023, but shot down again. The token is yet to reach the same heights it enjoyed in the autumn, underperforming the market across the course of last year.
Request Network did not immediately respond to a request for comment.
On January 11, 2024, REQ was worth about $0.0982.
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 January 11 2024.
Request Price Prediction
Let’s examine some of the Request price predictions being made on January 11 2024. 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.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $0.20 | $0.24 | $0.69 |
| Prediction #2 | $0.1425 | $0.1317 | $0.3294 |
| Prediction #3 | $0.1234 | $0.1724 | $1.15 |
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.
Request Price Prediction for 2024
DigitalCoinPrice said that Request would reach $0.20 this year. Meanwhile, CaptainAltCoin said it would trade at $0.1425 in December. PricePrediction.net said REQ would be worth $0.1234 in 2024.
Request Price Prediction for 2025
Moving on, DigitalCoinPrice said that REQ would reach $0.24 in 2025. CaptainAltCoin’s Request price forecast said would be worth $0.1317 that year. PricePrediction.net claimed the token would trade at $0.1724 next year.
Request Price Prediction for 2030
Looking at a more long-term Request price prediction, DigitalCoinPrice said it would be worth $0.69 in 2030. CaptainAltCoin thought it would trade at $0.1776 that year. PricePrediction.net’s REQ price prediction had it stand at $1.15 at the start of the next decade.
Google BardAI Price Prediction for Request (as of January 11)
Google’s BardAI platform gave the following price prediction for Bitcoin on January 11. Please remember that price predictions are very often wrong and that artificial intelligence should not be trusted.
Short-term (3-6 months):
- Potential range: $0.10 – $0.20
- Reasons:
- Market sentiment: Broader crypto market trends could significantly impact REQ. A bull run could push it towards $0.20, while a correction might bring it down to $0.10.
- Adoption of Request Network: Increased traction and integration with new platforms and dApps could drive demand for REQ.
- Competitor landscape: Performance of competing oracle networks like Chainlink and Band Protocol could influence REQ’s relative value.
Medium-term (6-12 months):
- Potential range: $0.20 – $0.50
- Reasons:
- Request Network upgrades: Successful implementation of planned network upgrades like Oracles v4 and Keeper Network could enhance efficiency and attract new users.
- Real-world use cases: Growing adoption of Request for real-world data feeds and decentralized finance applications could boost REQ’s utility and value.
- Regulations and partnerships: Favorable regulatory developments or strategic partnerships with key players in the blockchain space could accelerate growth.
Long-term (12 months +):
- Potential range: $0.50 – $2.00 (Highly speculative)
- Reasons:
- Widespread adoption of oracle networks: If oracle services become essential for blockchain applications, REQ could benefit from its early positioning and focus on secure, decentralized data delivery.
- Mass adoption of blockchain technology: Increased mainstream use of blockchain for various applications could create a larger market for oracle services, benefiting REQ’s value.
- Technological advancements: Innovations in blockchain scalability and privacy could further enhance Request Network’s capabilities and appeal.
It added: “Remember, these are just speculative scenarios based on current information. The cryptocurrency market is highly volatile, and unexpected events can significantly impact price movements. Always conduct your own research and understand the risks before making any investment decisions.”
Recent Updates from Request
In December 2023, Request announced that it was undergoing a rebrand. The platform will, however, still be called The Request Network.
REQ Price History
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%.
Request in 2023 and 2024
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 spike took place. The following day, it reached $0.103. The token dropped to $0.06442 on October 19. After that, it made something of a recovery, closing the year at $0.09453. This meant it went up 11% over the course of 2023, a fairly poor return at a time the overall market doubled.
There was some upward movement early in the new year and, on January 11, 2024, Request was worth about $0.0982.
At that time, there were 999.69 million REQ in circulation, representing the total supply. This gave Request a market cap of about $97.9 million, making it the 356th-largest crypto by that metric.
Is Request a Good Investment?
It is hard to say. It is unclear whether the platform can develop into something that will give the token a boost. With REQ underperforming in late 2023, potential investors should exercise caution.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in REQ.
Will Request go up or down?
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.
Should I invest in Request?
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.
Who are the Founders of Request?
Crypto entrepreneurs Christophe Lassuyt and Etienne Tatur founded the platform, which is based on the Ethereum (ETH) blockchain, in 2017.
Who Owns the Most Request (REQ)?
On January 11 2024, a wallet linked to the Request Network held more than 11% of the supply.
Richest REQ Wallet Addresses
On January 11 2024, the wallets with the most REQ were:
- 0x0632dcc37b1fabf2cad20538a5390d23c830962e. This wallet, listed as Request Network: Team Wallet, held 112,325,674 REQ, or 11.24% of the supply.
- 0x60a73a0629df1d8191e541fcbd3fd321042a37fc. This wallet held 100,001,500 REQ, or 10% of the supply.
- 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance 8, held 50,000,000 REQ, or 5% of the supply
- 0xbe0eb53f46cd790cd13851d5eff43d12404d33e8. This wallet, listed as Binance 7, held 40,000,000 REQ, or 4% of the supply.
- 0xf912cfcab7f1cf82b431edb309d681a2a1ba2a22. This wallet held 33,419,390 REQ, or 3.34% of the supply.
Fact Box
| Supply and demand | Figures |
|---|---|
| Maximum supply | 999,877,117 |
| Circulating supply as of January 11, 2024 | 999,681,755 (99.98% of maximum supply) |
| Holder distribution | Top 10 holders owned 42.44% of supply as of January 11, 2024 |
From the Whitepaper
In its technical documentation, or whitepaper , Request says it aims to become “the backbone of world trade”.
It says: “Request is a decentralized network that allows anyone to request a payment (a Request Invoice) for which the recipient can pay in a secure way. All of the information is stored in a decentralized authentic ledger. This results in cheaper, easier, and more secure payments, and it allows for a wide range of automation possibilities.”
Request (REQ) Explained
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.
The Request token, also known by its ticker handle REQ, supports the Request Network.
How Request Works
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.
Bitcoin Attention Tracker
Here is a chart for Bitcoin Google search volume for the past 90 days. This represents how many times the term “Bitcoin” has been Googled over the previous 90 days.
FAQs
It could do, but not for some time. Both PricePrediction.net says it can break past the dollar in 2030 and DigitalCoinPrice thinks it can get there in 2031. 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.Will Request reach $1?
What is Request used for?
Further reading
Bitcoin Price Prediction 2024: What is BTC?
Kaspa Price Prediction 2024: What is KAS?
Solana Price Prediction 2024: What is SOL?
Disclaimer
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.
