Koinex, India’s most advanced digital assets exchange, is currently ranked the second highest exchange globally, by trade volume for REQ tokens. REQ is the token from Request Network which was one of the latest crypto-assets that was listed on Koinex exchange. The token was listed on Thursday, 22 February at 10:30 pm and within 15 mins post listing, the exchange garnered over 1.5 million REQ tokens trading volume and after an hour the numbers were at a staggering 4.5 million. This volume trade on Koinex influenced the global crypto-market as the price of REQ token went up by 40%. This is a white-knuckle moment for the domestic crypto-market, as India is driving the global market, which also sets precedence to our prominence in the crypto-assets segment globally.
Elated by the affability shown for REQ by traders on the exchange, Mr. Rahul Raj & Mr. Aditya Naik, Co-Founders, Koinex said, “This tremendous response for REQ validates our robust research-led approach used to identify the right token to be listed on Koinex. No one ever imagined that an Indian exchange would influence the global crypto-assets market in such a significant manner. It only shows the impact and the strong voice we command in the digital assets segment. This is not only reverence for us but also an Indian success story being scripted here.”
Adding to it, Mr. Rakesh Yadav, CTO, Co-Founder, Koinex said, “Koinex is built over cutting-edge technology, offers a proprietary trading engine, wallet and platform architectures and grade A security that make it seamless for the users. We optimised our trade engine and I am proud of the engineering team which efficiently managed such a huge traffic within a short period”
The Request Network (REQ token) is based on Ethereum platform and aims to be a decentralised network that allows anyone to request a payment, for which the recipient can pay directly in a secure way. Essentially, here the need for a third party (payment gateway) in the financial transaction is eliminated, thus saving cost and being secure, quick and efficient at the same time. It also gives scope for wide range of automation possibilities. All the transactions are saved on an irreversible, authentic ledger, which is beneficial for accounting and auditing processes. The platform aims to work with every global currency and will be designed to be flexible and be compatible with IoT or any future systems.
Currently Koinex has clocked over 10 million trade volume for REQ token in less than a day and continues to lead the global market.