What is REQ coin?
REQ is the Ethereum-based ERC-20 token and the utility token of Request Network. The brainchild of Christophe Lassuyt and Etienne Tatur, the platform came into being in 2017 with the sole aim of powering global transactions without the delays and limitations resulting from users’ location, currency legislation, or even language barriers.
The network is a decentralized payment system that offers its users a wide range of functionality:
Request Invoicing that enables freelancers and businesses to send invoices and accept payments in ETH, DAI, USDC.
Request Finance, an application for invoice, expense, payroll, and accounting management fr individuals and organizations.
Request Create, a tool to create and share payment requests.
WooReq, a WooCommerce plugin to process crypto payments.
Moreover, information on the network can be accessed at any given time from anywhere for audits and tax purposes.
The REQ coin is stored in an immutable digital ledger. The maximum amount of tokens that will ever be in supply is 999,983,984 REQ, while the total circulating supply is 999,877,116 REQ, making the token less volatile.
The REQ token is the mode of payment for anyone leveraging services offered by the Request Network. For instance, whenever a transaction takes place on the network, the transaction fees must be paid on the native token. The transaction fees are adjusted based on a number of factors, including exchange rates and the supply of REQ tokens.
Is REQ a good Investment?
Yes, without a doubt. In an era where privacy and financial security are of utmost importance, Request Network has a role to play. By taking on centralized electronic payment systems, Request Network has what it takes to be a big success and generate significant returns for the long-hodl investors.
Request Network has an edge as an investment in the blockchain space – this simple fact stems from the attractive features it offers. Security tops the list of advantages, allowing people to send and receive payments without sharing any banking information. The fact that the system is simple to use and enables instantaneous payment should see it become a big hit in the global payment sector, taking off at the end of 2021.
As Request Network evolves and plays a big role in the future of e-commerce by enabling simpler, secure, and cost-efficient transactions, it stands to generate significant value.
Should I buy REQ today: Crypto technical analysis for REQ?
The broader cryptocurrency market has been on an uptrend for the better part of the year. A good number of high-profile tokens have powered to all-time highs amid strengthened interest in virtual currencies.
However, the REQ token has come under immense pressure in recent months. After powering to record highs in August of $0.48 a coin, REQ has come under immense selling pressure. It is down by about 56% year to date.
Even as other tokens broke out to all-time highs, REQ has been in consolidation mode, trading in a tight trading range between $0.16 and $0.26, as shown above. Rejection above the $0.26 has been the order of the day.
However, the coin skyrocketed on November 25, 2021, gaining 280.52% as The Sandbox announced it would start using Request Finance Invoicing for all its payments. According to The Sandbox COO Sebastien Borget, the implementation of Request Invoicing would reduce the time spent each month on payments on the platform by an incredible 90%.
Consequently, investors’ interest in REQ will now be supported by the growing interest in The Sandbox.
Will REQ hit $2 in a year?
While the REQ price was subdued in a tight range of between $0.16 and $0.26 ever since the initial coin offering, it is bound to hit the new high of $1 at the end of the year. The token can also be worth $2 by the end of 2022.
Worst case scenario
In the worst situation possible, the token may drop back to trade at just $0.21 a coin. However, according to Wallet Investor, even in the worst case scenario, the coin price will meet support at the $0.350 level.
Best case scenario
With the token continuing to grow at ultra high speed amid the bearish crypto market, the continuing uptrend scenario looks more likely based on the Wallet Investor analysis. In this case, the coin price will hit the first resistance level at $1.057, and the next two at $1.338 and $1.764.
What is REQ coin price prediction for 2025?
While the Wallet Investor deems the Request coin price to oscillate around the $1.065 level within the next five years and bring the investors around +17.54% revenue, other sources are more optimistic. For example, Digital Coin Price expects the Req coin to be worth $2.63 in 2025 and $3.92 in 2028.
Where to buy REQ
Some of the most popular exchanges that have added support include Binance, Huobi Global, and Bitfinex. However, the token cannot be brought directly using fiat.