Do you want to avoid paying high fees, waiting for ages, and dealing with shady intermediaries when you send or receive money? Do you wish there was a better way to pay and get paid that works with any currency or asset? If yes, you must check out this Crypto.
REQ is the excellent token of Request Network, a decentralized protocol that makes payments fun, easy, and reliable for everyone. This article will tell you what REQ crypto is, it’s working mechanism, and why it could go to the moon.
Table of Contents
About REQ Crypto
REQ crypto is an ERC-20 token that runs on the Ethereum platform. It powers the Request Network, an open network where transactions are recorded forever, and requests are processed without anyone messing with them. The Request Network lets anyone securely create, fulfill, and share payment requests using any currency or asset.
The crypto has many uses within the Request Network ecosystem:
- It is a fee for creating and processing payment requests.
- It is used as a governance token that lets holders vote on the future of the network.
- It is a staking token that gives users access to cool features and discounts.
- An incentive token rewards users for helping the network grow and stay safe.
Working Mechanism
REQ crypto lets users interact with the Request Network through various apps and plugins. For example, Request Finance is a suite of financial tools that lets users manage all their crypto transactions in one place. It offers solutions for invoices, expenses, payroll, and accounting. Request Create is another app that lets users create and exchange payment requests in three easy steps. It supports many currencies and assets, including fiat, crypto, stablecoins, and NFTs. Finally, Wooreq is a Woocommerce plugin that uses the Request Network to make it simple for online sellers to accept crypto payments.
It also works by using smart contracts and blockchain technology. Smart contracts are agreements that do what they say automatically. Blockchain technology is a system that records every transaction and requests on the network in a clear and unchangeable way. This makes sure that payments are secure, fast, and verifiable.
Price Analysis
REQ raised $33.6 million in its ICO on October 13, 2017, by selling 500 million tokens at $0.0672 each. The ICO was over in less than half an hour. The team, advisors, partners, community fund, and ecosystem fund got the rest of the 499.8 million tokens.
The potential is there because it has a growing community of users and supporters. The token made a high of $1.18 and is currently below 90% of that level. It has gained 7% in 1 week.
Current Price Analysis
The current price stands at $0.10. It has a market cap of $ 102.3 million with a circulating supply of 999.8 million tokens and a trading volume of $25.3 million. Let’s look at the chart for further analysis:
On a weekly timeframe level, the price action of $REQ is consolidating in a compression level, where the price action is trying to bounce back from its Horizontal Support level while the price action is consolidating within the S/R levels.
Future
REQ crypto has potential because it solves some of the big problems of traditional payment systems. These include high fees, slow processing times, lack of transparency, fraud risks, and compatibility issues. By offering a decentralized payment solution that works with any currency or asset, REQ crypto can lower costs, increase efficiency, improve trust, and enable innovation.
It is not just another cryptocurrency. It is a protocol for payment requests that can change how we pay and get paid. To learn more , visit its official website, whitepaper, or social media channels. Or better yet, buy some REQ crypto today and join the fun!
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