Request Network (REQ) Overview: Very low risk, potentially very high rewards project

REQ Network performance for the last couple of weeks didn’t look too bad. After a September low of $0.028889, the currency went into a decent uptrend. This trend peaked on the 25th with the value of $0.047156 (with almost $3 million worth of daily trade volume behind it. The monthly high was set only a couple notches higher at $0.047648 on the 30th, again with the volume breaking above $3 million. October saw REQ hover above $0.045 for its opening 11 days before a general market drop took the value down to $0.040359. Still, the currency bounced out of this funk almost immediately, going towards its current levels on a rapidly increasing daily trade levels.

At the moment of writing, one REQ can be purchased for $0.057643 USD (22.99% rise in the last 24 hours)/0.00000857 BTC (14.63% rise in the last 24 hours). This price is 95.63% lower than the currency’s all-time high of $1.17. Daily trade volume sits at $1,381,237, most of it coming from Binance (74%). With its market cap of $41,775,250, REQ is the 130th most valuable cryptocurrency on the market.

Trader alanmasters made this analysis a couple of days ago and it still seems very topical:

“Request Network (REQBTC) looks really good on the charts. It retraced 100% from its all-time high back in January and bounced from a Oct. 2017 price low. After this bounce, REQBTC 4.34% is showing signals of a change of trend:

  • Increasing volume. Way above average on the last few green candles.
  • Bounce from a strong support (Oct. 2017 low).
  • RSI coming out of oversold and steadily going up, with plenty of room left available for growth.
  • STOCH is bullish. MACD curving up (bullish divergence and bullish crossover on the daily time frame).
  • The weekly chart also looks pretty good.
  • 900%+ Profits potential. Very low risk, potentially very high rewards.” 

The trader provides the entry zone and recommended targets to sell so do check that out on the link above.

Request Network provided a project update which detailed several recent developments. First noteworthy thing they mentioned was the newly-signed membership in the Wall Street Blockchain Alliance (WSBA). WSBA is an industry leading non-profit trade association with a mission to “guide and promote comprehensive adoption of blockchain technology and crypto assets across global markets”. Ron Quaranta, Chairman of the WSBA, notes:

“We are very happy to have Request Network as a member of the Wall Street Blockchain Alliance family of corporate members. Request Network is at the leading edge the reinvention of global payments, with important use cases from invoicing, to audit and accounting and beyond. We look forward to collaborating with them in guiding the evolution of blockchain technology across global markets.”

The network itself started supporting several new ERC 20 tokens. Calling the event “ERC20 Wave 2”, REQ users can now create new requests for BAT (Basic Attention Token), BNB (Binance Coin), KIN (Kin), ZRX (0x protocol) and LINK (Chainlink). In lieu with these news, a preview of the official Request mobile wallet has been launched. The wallet will be ERC 20 compatible and will be compatible with eCommerce plug-ins WooReq and Reqify. The Request Mobile Wallet comes packaged with a built-in Web3 browser which allows you to interact seamlessly with your favorite decentralized applications (DApps). The full list of features and a demonstration of its functionality can be seen on this link.

In other updates, Request invoicing form has been updated to give more possibilities when sending an invoice on the Request Network. The project also plans to expand their set of development tools.

“You might remember creating a full-stack app in the days before the LAMP stack. Those were dark days. We want to lower the barrier to entry and improve the Request Network DX (Developer Experience) by providing a set of tools to create amazing products. With this in mind, we know that creating applications is complicated by itself and not all places have a fast and reliable internet connection. This is why we created a simple way to get a local blockchain running compatible with all of the Request Network smart contracts,” explained the Request Network team. Finally, the development team was recently expanded with Benjamin Levesque, a former member of Vienna’s Amaris Group. He will work remotely from Paris, France as well as joining the team monthly in Amsterdam.

Overall, Request Network hasn’t been sitting on its thumbs throughout the previous period. If they keep up with such an approach, their future as a survivor of the bear market is almost definitely secured.

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Dobrica Blagojevic
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