Deep Dive
1. Project Development & Tokenomics (Mixed Impact)
Overview: Request Network demonstrates steady development, focusing on its API for crypto payments and invoicing. The project conducts regular, modest token burns – 443 REQ in October 2025, bringing the total burned to 582,846 tokens (Request Network). Partnerships, like powering invoicing for Kryptos Enterprise, show real-world adoption (Kryptos).
What this means: The consistent, though small, burns create a mildly deflationary pressure on the ~797 million circulating supply. Increased API usage directly drives demand for REQ tokens, which are used for fees and governance. This builds fundamental utility, but the impact is gradual and requires sustained adoption to materially affect price against broader market forces.
2. Strategic Partnerships & Narrative (Bullish Impact)
Overview: A key partnership with privacy-focused blockchain Aleo went live in September 2025, enabling private crypto payrolls and processing $3.7 million in ALEO tokens within weeks (Crypto Times). Furthermore, Request Finance is cited as a potential customer for Circle's planned private stablecoin, USDCx (Fortune).
What this means: This positions REQ at the intersection of two growing narratives: enterprise crypto payments and transactional privacy. Successful adoption of these features could significantly expand Request's user base and transaction volume, creating new, substantial demand streams for the REQ token over the medium term.
3. Market Structure & Sentiment (Bearish Impact)
Overview: The token faces liquidity challenges. Gate exchange delisted REQ perpetual futures in September 2025 (Gate), reducing access for leveraged traders. Technically, REQ is in a strong downtrend, trading below all key moving averages (e.g., 200-day SMA at $0.1233). The 14-day RSI of 27.46 indicates oversold conditions.
What this means: The derivatives delisting limits speculative interest and can exacerbate selling pressure. While oversold levels hint at a possible short-term technical rebound, the dominant trend is bearish. Furthermore, the entire crypto market is in "Extreme Fear" (index 15), which typically suppresses buying across altcoins like REQ, regardless of project-specific news.
Conclusion
REQ's path hinges on whether its tangible adoption can eventually decouple from a fearful macro crypto climate. Holders are betting on its utility in a niche, but must navigate thin liquidity and broad market pessimism.
Will the next monthly burn or partnership announcement be enough to break the persistent downtrend?