Request price is up over 219% this Thanksgiving, more than tripling in price today. With a market cap of $720 million and a 24-hour trading volume of $414 million, Request Network is the top 141st largest cryptocurrency. What is Request, and why is the price rising? Let’s take a look.
What Is Request (REQ)?
Request describes itself as “The protocol for payment requests.” Its main selling point includes the ability to request payments without the need for a third party.
The platform also offers features like Request Finance, which allows you to manage all your digital asset transactions in one place. In addition, REQ also provides a service called Request Invoicing, which enables users to pay and get paid with cryptocurrency.
Last but not least, Request has a WooCommerce plugin meant for sites running WordPress, which allows admins to integrate crypto payments in their online stores easily.
Why Is REQ Price Rising?
The big question of the day is why did Request’s price more than tripled in the past 24 hours?
The big news about Request is their recent partnership with The Sandbox, the most anticipated Metaverse project on the market.
Request Network will help automate The Sandbox’s payments on the platform, not only for its cryptocurrency transactions and payments to its employees and contractors. Payments are always a challenge for crypto companies, especially when it comes time to pay wages to employees.
REQ Price & Tokenomics
At the time of writing, REQ is trading at $0.71, with a 24-hour trading volume of $413 million. Most of the volume comes from Binance, Bitvavo, and Uniswap – which would be the best exchanges to purchase REQ.
REQ has a total supply of 999 million, with a circulating supply of also 999 million. Since REQ is not a Proof-of-Stake token, the circulating supply is equal to the total supply.
With the recent price hike of over 218%, REQ set a new all-time high of $0.91, currently trading at $0.69. With the alpha release of The Sandbox coming up on November 29th, I wouldn’t be surprised to see REQ hit $1.
Disclosure: This is not trading or investment advice. Please always do your research before buying any cryptocurrency.