Coinbase Custody announced that it has listed the Request Network (REQ). The REQ price climbed up to $ 0.11 after the news. So what are Request Network and REQ tokens?
Request Network (REQ) saw gains of 11% on the weekly chart and an increase of 170% on a monthly basis. The highest price level of REQ token was in January 2018 at $ 1.06.
With a market value of $ 64 million, REQ token saw a trading volume of $ 11 million, with a 6% increase in the 24-hour period.
What are Request Network and REQ tokens?
Request Network; It is a decentralized payment system built on Ethereum. The request aims to eliminate the need for third parties in payment transactions and to make faster and safer transactions. Supporting global payment transactions, Request allows users to make transactions regardless of currency.
The network sets up a financial system between users and institutions. In this system, both parties have full authority over their financial data. Those who want to integrate with the request can make transactions with API, network client or node.
REQ token is the local token used in transactions performed on the Request network. REQ is used for transactions such as billing or rewards on the network. At the same time, REQ tokens are charged for network fees from those who use the Request network. This fee is then burned. The circulating supply of REQ with a supply of 1 billion is 771 million. Among the exchanges where REQ tokens are listed; Binance, UniSwap, KuCoin, Huobi, Bitfinex, Gate.io, YoBit.