Request price prediction: Payment platform surges

Request is an Ethereum-based decentralised payment system. What’s next for the open-source protocol?

Request logo                                 
REQ has failed to return to the highs reached soon after its launch in 2018, and is ranked 168 by market cap – Photo: Shutterstock
                                

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Since the emergence of Bitcoin, hundreds of decentralised platforms have appeared that claim to improve on BTC’s original offering, namely as decentralised payment systems which, through blockchain technology, do not require intermediaries.

Launched in 2017, the Request network is one of these protocols. Transactions, according to the website, “are immutably recorded and requests are processed without an intermediary”. Businesses and individuals can pay and be paid in a range of digital currencies belonging to a variety of payment networks, including Fantom, Near, Ethereum and Polygon.

With more than 2,000 companies and DAOs using the network, Request claims to have created a secure system whereby everyone can gain access to a global payment system with low fees and high security.

REQ, the network’s native token, performed well in 2021 but has struggled over the course of 2022. So what are the latest REQ price predictions?

Before looking at Request price prediction forecasts, let’s take a quick overview of the coin.

What is Request (REQ)?

Request makes requesting payments simple. The user, after putting details of the amount owed as well as terms and conditions, can share it with the counterparty that owes them money. Users can even upgrade their request into an invoice.

According to the website, the network is allows people to “own their financial data and break away from traditional financial platforms. Anyone, anywhere, can pay and get paid with confidence in a trustless environment.”

The details of the transactions, from request through to payment, are documented and tracked by the platform. Furthermore, the network claims to comply with different legislation in place globally. 

Request Create is the feature which allows the easy request of payments, but Request Finance is an “all-in-one finance solution built for Web3 champions”.

Users can store all important information regarding “invoices, salaries and expenses, all in one place” in Request Finance. Users can “track, verify, and organise all payments requests in a single dashboard” and “get automatic notifications and real-time payment status with on-chain data,” the website says.

Users can also, it says, easily send mass payments, and “process hundreds of payments to different wallet addresses all at once and in just one click,” allowing users to “save time and money paying multiple recipients simultaneously.”

Founders

Request was founded by Christophe Lassuyt and Etienne Tatur. Lassuyt, originally from France and now based in SingaporeHe studied finance at NEOMA Business School in France. After graduating he worked in a range of finance-related roles including as a financial manager at Amaris and as CFO at Euranka. He subsequently worked as a CFO at Virtua, before co-founding Moneytis, a money transfer platform.

Asked why he began developing the concept behind the Request network, Lassuyt said: “Building a fair alternative with our own hands, along with an army of open-source developers, was natural. It is about being a rebel with fair chances of success. It is about changing the world for the sake of financial inclusion. I love the people in the industry who are there to fight for humanity’s freedom from the capitalistic tyranny of centralised institutions.

“Together, we help usher a financial revolution by depriving the big banks of their power over the masses. The point is currencies, technologies and protocols should be controlled by everyone.”

Tatur studied IT engineering at the National Institute of Applied Sciences (INSA) in Lyon. He subsequently worked as a software engineer at Fiducial before working as CTO at Amaris. Before co-founding Request, he worked as CTO Moneytis in San Francisco.

From the Request whitepaper

The Request Network: The Future of Commerce whitepaper was published in 2018 and is 23 pages long.

The document states: “To become the backbone of world trade, Request integrates a general ledger (in the accounting sense of the term), which is universal because it is designed to support 100% of global transactions, regardless of currency, legislation or language. Request is built to last.”

The document goes on to say: “[Request is] smart, because, unlike an existing standard accounting book, Request is at the origin of the exchanges and integrates a computerised trade code, as well as the management of a multitude of payment terms. Today, their absence makes the whole system inefficient and absolutely unready for the digital and IoT (Internet Of Things) revolution that is taking place.”

How does this information impact a Request price prediction for 2022 and beyond? Before looking at any Request coin price predictions, let’s do a quick review of the recent performance of Request.

Coin performance

The REQ coin rose immediately after launch, surging from $0.03562 on 1 November 2017 to $0.9884 on 6 January 2018. Throughout the remainder of 2018, however, it dropped, hitting lows of $0.02643 on 29 November 2018.

The coin traded sideways through 2019 and 2020. It began to surge in 2021, reaching highs of $0.746 on 26 November 2021. REQ subsequently dipped to lows of $0.1896 on 12 March 2022, but recovered slightly to highs of $0.3261 in April, roughly in line with broader crypto sentiment. However, the token subsequently fell in May, like many other cryptocurrencies. The token dipped further to lows of $0.06906 in mid-June, following multiple market-wide crashes.

However, as of 26 July 2022 and at the time of writing, the token is trading at $0.1161. 

Over the past year (July 2021 to July 2022) Request has more than doubled in value. In the 30 days leading up to 26 July, the token has gained almost 20%. It has a market cap of $116m. There is a circulating supply of 999,846,320.46 REQ coins and a max supply of 999,877,117 REQ coins (or 100%).

How does this information impact a Request price prediction?

Request coin price predictions

If you decide to use price predictions as part of your process of choosing whether to invest in a coin, it is important to keep in mind that while they can be useful to indicate which direction a coin could go in, it is best to regard them as possibilities rather than absolutes. 

With this in mind, let’s look at some REQ crypto price predictions.

Gov.capitalin a bullish forecast, thinks that Request could go up to $0.38 in a year’s time and $2.24 in five years’ time.

DigitalCoinPrice thinks that the REQ could rise to $0.16 by the end of August, before receding to $0.15 at the end of the year. For 2023 and 2024, the site forecasts an average value of $0.17. The website’s Request price prediction for 2025 stands at $0.21, hitting $0.52 in 2030.

Another longer-term forecast can be found at PricePrediction.net, which suggests an average value of $0.42 in 2025 and makes a Request price prediction for 2030 of $2.73.

WalletInvestor believes the coin will go down to $0.06 in a year’s time, suggesting the token is a “bad long-term (one-year) investment”.

FAQs

There is a circulating supply of 999,846,320.46 REQ coins and a maximum supply of 999,877,117 (only 30,796.54 coins are left).

Forecasters seem reasonably bullish on the Request price prediction. That said, the coin is still trading significantly lower than it was in 2021, and has failed to recover to the record high it reached in 2018. 

Always keep in mind that crypto coins are highly volatile assets, and that analysts’ forecasts can often be wrong.  

As with all crypto coins, one expert’s guess is as good as another, and Request may or may not increase in price. Remember, never invest any money you cannot afford to lose.

Potentially. Investing is a highly personal endeavour, dependent on your individual investment goals. Remember to do your own research and keep up-to-date on any developments in the REQ space. 

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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