What does Request Network project do & its REQ token?

Highlights 

• The Request Network crypto has appreciated lately, but its price has fluctuated widely in the past
• The project claims to help businesses in adopting crypto payment infrastructure
• The REQ token was in the top 200 crypto assets by market cap at the time of writing

Some experts say that if at all cryptocurrencies have to become a mainstream form of money, there has to be a proper network in place. But critics say cryptos might not move from being speculative tradable assets to being a reliable form of money.

The debate about cryptos’ success or failure aside, one project is claiming to provide the infrastructure for integrating cryptos with any business’s payroll and accounting. Let’s know more.

What is the Request Network?

The project has an app, which is said to provide tools to businesses to manage transactions in cryptos. Besides, the network enables its users to add a plugin, WooReq, which it claims make it easy to accept payments in cryptocurrencies.

Also read: Bombcrypto game: How has BCOIN token fared so far in 2022?

The Request Network mentions support for cryptos of projects like Ethereum, Fantom, and Polygon. In its primary offering, Request Finance, the project is betting on streamlining financial tasks like invoices and salary disbursements in cryptocurrencies. On its website, the project says it supports over 70 crypto assets and even over 10 fiat currencies.

Request crypto (REQ)

Listed on exchanges like Binance, the REQ token can be used for staking, besides its use as a utility token. The token, the Request Network claims, enables network participants to vote on critical decisions that make the ecosystem decentralized.

Also read: Can PancakeSwap (CAKE) token sustain its rally?

Request crypto’s price

As of writing, the REQ token was one of the top 200 crypto assets on the CoinMarketCap list. With a market cap of over US$235 million, REQ was trading at nearly US$0.23. Over 999.8 million tokens are in supply

The trading volume of the REQ token had gained by over 500 per cent over the past 24 hours. But it is notable that Request crypto’s price had reached nearly US$0.4 in mid-January this year, before entering a bearish phase. The price even peaked to US$0.7 in November last year as a result of a sharp, but short-lived rally.

Since the token has remained very volatile, Request crypto’s price prediction for the near-to-medium term is not possible.

Data provided by CoinMarketCap.com

Also read: Is Grayscale’s new fund behind Cardano’s ADA recent rally?

Bottom line

The Request Network project claims to offer an ecosystem that can help businesses to integrate crypto payments. The REQ token is native to the project. It has remained volatile with respect to its price, similar to other cryptocurrencies including ETH and BTC.

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