Request (REQ) is one of the top gainers of the day as the cryptocurrency has increased by more than 30%. The cryptocurrency has been on a steady uptrend during the weekly timeframe. The uptrend can be attributed to the positive developments that have been going on in the network. The anticipation of the recent developments has resulted in strong bullish momentum for REQ token. At the time of writing, the cryptocurrency stands at a price level of $0.28 with the daily trading volume having surged by more than 2000%. Currently, the token is under minor market corrections but the uptrend has not been broken yet and is expected to stay that way as the community is highly bullish on the token.
What is Request?
Request is essentially a payment platform powered by the power of blockchain technology. The decentralized nature of the platform removes any intermediaries in the payment industry – central or otherwise. The name comes from the fact that users have to place requests on the platform for payments. Moreover, users can also set the terms and conditions of their requests to alter the transaction to their liking. The platform offers high security, instant transactions, and increased efficiency.
What has been happening in the ecosystem?
Request has been gaining popularity at a steady pace. Data revealed by the platform shows that the cumulative crypto payments made on the platform during 2021 have crossed $175 million. The payments include various functionalities of merchants and businesses – like salaries, expenses etc. Moreover, during the previous year around 8500 new businesses registered on the network and the user-base experienced a growth of 18% per month. Nearly 7000 crypto invoices have been paid since 2021, with USDC, SAND, and DAI being the top picks for crypto transactions. The figures show that the growth trajectory of Request is no less than impressive.
But this is not all. Fantom is the twenty-ninth largest cryptocurrency in the market and Request has managed to impress such a big player in the crypto market. The two protocols have collaborated and REQ will now be managing payments and invoices for the Fantom ecosystem. The Fantom ecosystem is one of the fastest-growing which means that the growth will now experience a trickle-down effect to the Request ecosystem – resulting in growth. In light of the recent developments and the growth of the network, REQ is a good bet in the crypto market.
