The Rally (RLY) crypto soared over 56% in the last 24 hours to Wednesday morning, while its trading volume surged 1777% in the same period for no apparent reason.
What is Rally (RLY)?
It is a social-token protocol allowing creators to launch tokens while building a digital economy around their work.
It lets streamers, artists, gamers, or other content creators connect with their communities and provide perks to recruit, retain, or monetize their following.
Each creator gets fully customizable crypto, which they can use in any way they wish.
For example, the creators could offer exclusive access to their content or events to fans or monetize their fan-following without paying platform fees.
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On the other hand, fans can show support to the creator after receiving exclusive access and perks. Both the creators and fans get weekly community network rewards in RLY tokens.
Rally was founded in 2020 and led by its CEO Bremner Morris.
Unlike the traditional media or social media platforms, Rally does not focus on maximizing profit; instead, it provides services without transaction or platform fees. It aims to strengthen the relationship between the creators and their fans through the network.
RLY is a utility and governance token of the Rally network. The token holders could use the token to participate in governance and earn rewards by depositing it into a liquidity pool.
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Source: *Data provided by CoinMarketCap.com
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RLY token: Pricing and performance
The token was priced at US$0.377 at 10:42 am ET on February 16, up 56.99%. It has a market cap of US$932.91 million, and its fully diluted market cap is US$5.65 billion. Its trading volume for the last 24 hours to Wednesday morning was US$78.70 million.
The RLY token saw the highest price of US$1.40 and the lowest price of US$0.203 in the last 52 weeks. It reached an all-time high of US$1.40 on April 2, 2021.
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Bottomline
The RLY token saw significant gains in recent quarters. It returned 27.89% gains in the past 12 months. Its maximum and total supply are 15 billion, and its circulating supply is 2.47 billion. The token is available on Uniswap (V2), Huobi Global, Coinbase Exchange, etc.
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