Request (REQ)
Decentralized payment requests and invoicing. Crypto accounting.
Ranked 155th of 251 rated tokens. Scoring pass 18 Sept 2026.
What the numbers say
REQ scores 97 of 250 across the 25-variable framework, which places it 155th of 251 rated tokens and inside the lower half of the set. The framework verdict is PASS.
The score rests on P/S Multiple 5/10, 38th of 251, Insider Selling 5/10, 42nd of 251, Holder Concentration 4/10, 58th of 251 and Vesting Schedule 6/10, 59th of 251.
Only 79.7% of REQ's maximum supply is in circulation, so 1.26x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 20.3% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
REQ trades 94.9% below its all-time high of $1.06. Recovering that level is a 19.6x move, not a 94.9% one, which is the arithmetic most drawdown charts hide.
The framework score gained 97 points against the previous pass (0 to 97). Revisions of this size follow a change in the underlying variables, not a change in price.
REQ clears 7 of 10 on none of the 25 variables. Its best three are Vesting Schedule at 6, Circulating / FDV Ratio at 6, P/S Multiple at 5. The market prices none of those, so there is nothing here it is failing to notice either. This is a low score on things nobody is bidding for. It is weak on Active Users, Market Share, Institutional Adoption, Catalyst Calendar and Social Mindshare, which the market does price, so that damage is already done and visible in the valuation.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 3 | 98th of 251 | |
| Revenue Trend | 3 | 117th of 251 | |
| P/S Multiple | 5 | 38th of 251 | |
| Real Staking Yield | 3 | 143rd of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 6 | 59th of 251 | |
| Circulating / FDV Ratio | 6 | 88th of 251 | |
| Buyback and Burn | 3 | 63rd of 251 |
Ownership
| Smart Money Flows | 3 | 149th of 251 | |
| Insider Selling | 5 | 42nd of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 3 | 111th of 251 | |
| Active Users | 3 | 149th of 251 | |
| Developer Activity | 5 | 83rd of 251 | |
| Network Growth | 3 | 156th of 251 |
Position
| Market Share | 3 | 131st of 251 | |
| Competitive Moat | 4 | 114th of 251 | |
| Institutional Adoption | 3 | 115th of 251 | |
| Exchange Depth | 4 | 157th of 251 | |
| Social Mindshare | 3 | 157th of 251 |
Risk
| Regulatory Safety | 5 | 102nd of 251 | |
| Catalyst Calendar | 3 | 158th of 251 | |
| BTC Alpha Potential | 3 | 114th of 251 | |
| Team Execution | 4 | 147th of 251 | |
| Treasury Runway | 5 | 74th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Decentralized invoicing and payment requests for DAOs and enterprises; multi-chain expansion.
Principal risk
Slow B2B adoption; competition from traditional fintech and newer blockchain payment rails.
Market and supply
| Price | $0.0537 |
| Market cap | $42.8Mrank 532 |
| All-time high | $1.065 Jan 2018 |
| Circulating supply | 796,694,831 |
| Eventual supply (max supply) | 1,000,000,000 |
| Dilution to full supply | 1.26x |
| Listed on | Binance, Coinbase, KuCoin |
Price, market cap, supply and all-time high from CoinGecko, fetched 7 Oct 2026. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to REQ measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
REQ compared head to head
Both sides of each comparison were scored by the same framework in the same pass, so the gap between them is a measurement rather than two readings taken with different rulers.
Common questions
- What is the Early Thunder score for Request (REQ)?
- REQ scores 97 out of 250 on the 25-variable framework, ranking 155th of 251 rated tokens (lower half). The framework verdict is PASS.
- What are REQ's strongest fundamentals?
- REQ ranks highest on P/S Multiple 5/10, 38th of 251, Insider Selling 5/10, 42nd of 251, Holder Concentration 4/10, 58th of 251 and Vesting Schedule 6/10, 59th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- How much REQ supply is still to enter circulation?
- 79.7% of eventual REQ supply is circulating today, leaving 1.26x the current float still to arrive. At a flat price per token that is 20.3% of fully diluted value ahead of current holders.
- How far is REQ from its all-time high?
- REQ trades 94.9% below its all-time high of $1.06. Returning to that high requires a 19.6x move from the level used in this scoring pass.
- Which tokens have a similar profile to REQ?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to REQ are RLC (94), FORTH (84), SNT (92) and MCB (76). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for REQ?
- Decentralized invoicing and payment requests for DAOs and enterprises; multi-chain expansion.
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.