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Rally Token (RLY) Records 85% Surge After RallyIO Shutdown

The Rally Token (RLY) has surged by 85% in the last 24 hours, according to TradingView data. This impressive increase saw the RLY token rise from as low as $0.0149 to as high as $0.0313, before settling at around $0.0248 at the time of writing.

RLY / USDT 4 hours chart on Coinbase | Source: TradingView

This sudden surge comes as a surprise, especially considering that the Rally sidechain, RallyIO, was shut down on January 31, causing the RLY price to drop by 10%. However, the RLY token has still managed to record an impressive 108.96% and 121.61% increase in the last seven and 30 days, respectively.

The Rally team has attributed this recent surge to the disclosure of the treasury holdings and future plans in a thread published on the project’s official Twitter account on March 1. The team has expressed optimism about the future of the RLY ecosystem and community, despite the shutdown of RallyIO.

The RLY Network Association was created and voted by the community to assist in governance for the overall ecosystem. The focus of the association is to continue the proliferation of the RLY community and ecosystem, including the existing protocol, token, and new initiatives. The community treasury currently holds over 20 million USDC and more than 7 billion RLY tokens, which will be used to continue innovating and supporting the ecosystem.

The RLY Token Bonding Curve Protocol, which enables developers to launch new tokens, is an important part of the technical offering to grow the RLY ecosystem. RallyIO was one application built on this protocol, but there are many other developers and applications using it. The team has also announced that they will soon be adding new open-source software and infrastructure to bring more developers on-chain and into the RLY ecosystem.

The RLY ecosystem is robust and growing, with companies and projects using the technology and token, such as Taki, Hotline, Joyride, PlayZap, and Superlayer. The RLY blockchain presence and deployments are also expanding, with deployments on Polygon, Solana, Flow, and others.

In conclusion, the RLY token’s impressive surge of 85% in the last 24 hours, coupled with the overall growth of the RLY ecosystem and community, is a promising sign for the project’s future. The disclosure of the treasury holdings and future plans has instilled confidence in the community, and the team’s focus on innovation and growth will undoubtedly drive the project forward.

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