Why is REQ Price Up By 30%?

The Request Network (REQ) has seen a sudden and dramatic 30% price surge over the last 24 hours, for reasons that remain unclear.

REQ hit a 24-hour high of $0.1182 before pulling back slightly. This is a significant increase from the recent low of $0.08015. Trading volume also spiked to over $53 million, up a staggering 2563% from typical levels.

The Request Network itself is an Ethereum-based decentralized payment system that allows anyone to request and receive payments securely. The REQ token ensures the performance and stability of the network.

Source: CoinStats – Start using it today

Some potential catalysts for this latest rally:

  • Increased adoption and real-world use of the Request payment system
  • Speculation around potential partnerships and integrations
  • Overall, there is renewed interest and hype around lower-cap altcoins.
  • Technical factors like breaking key resistance levels
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Whatever the reason, REQ’s parabolic surge has made it one of the top gainers on Binance and other exchanges. 

The sustainability of this uptrend remains uncertain, as similar pumps fizzled out before. However, the crypto market is nothing if not unpredictable. REQ may have the momentum to continue charting new highs if the stars align.  

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.