Request Network (REQ) Cryptocurrency has entered the Cryptocurrency market in October 2017. Recently it has given 60% return.
Request Network Price Chart Against US Dollar (REQ/USD)
source: coingecko
In a month REQ has made a high at $0.3078 on 28th February, fell to a level of $0.1618 level on 19th March and recovered to $0.2606 level on 26th March. Today REQ is trading at $0.2240 level. Request Network has a current circulating supply of 663 Million coins with a total volume of $8,116,528 at the exchange.
Meanwhile, REQ started trading in October 2017 at a price of $0.05. Till December 2017, the price remained flat at this level. REQ price reached an all-time high of approximately $1.15 but fell in January along with the rest of the cryptocurrency market.
Use of REQ
The Request Network (REQ) is created by the team behind the Moneytis project, which is a service that compares transfer fees for international money transfers. REQ built on top of Ethereum, is a decentralized payment system which allows anyone, anywhere to request a payment and receive money in a secure way. There is no need of trusted third-parties while using REQ, therefore provides a cheaper and more secure payment solution. REQ works with all global currencies.
Morover, REQ integrates with legislation across the world, so that they are compliant with the trade laws of each country. Request Network uses blockchain technology for the production of accurate auditing and accounting services.
Additionally, in Request Network, payments are push generated, therefore the user does not need to share their bank account details.
REQ Competitors
Request Network targets the entire payments space, therefore they have few competitors. The most similar blockchain competitor is OmiseGo, but REQ considers it to be complementary product. Another competitor is from popular crypto cards like TenX. In addition, REQ faces competition with traditional finance like PayPal. However, REQ targets to offer a cheaper, safer, and more transparent solution, which will make the user to make a switch
Further, several cryptos target auditing and accounting but none does have an overall payment system like REQ have.
Future Outlook of the Cryptocurrency
Request Network is trying to compete with PayPal, which is the number one global payment system. Further, REQ is also trying to be involved in all types of payment systems like Invoices, IoT, B2B, Government, etc. REQ already offers some significant advantages over the current systems. As more switch over to REQ will take place, REQ price will be slated to rise.
We are proud to announce our official partnership with @PwC_France, shaping and developing the future of professional services together! 🙏
Read the full release by clicking on the link: https://t.co/pyzxlxCdu0
— Request Network (@RequestNetwork) March 26, 2018
For a horizon of 5 years as per consensus, REQ/USD is expected to touch $3 to $3.5 and can give a return of more than 2000%. Short term target is $0.38-$0.40
Disclaimer: Finance Minutes is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
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