• The Rally Token (RLY) surged by 83.73% over the last 24 hours, according to CryptoSlate data.
• The project team has disclosed their treasury holdings and future plans on March 1, assuring the community that the RLY ecosystem is still viable.
• Over 20 million USD Coin (USDC) and more than seven billion RLY tokens are currently held in the community treasury.
Rally Token (RLY) Surge
The Rally token recorded an 83.73% increase in the last 24 hours, surging from $0.0149 to as high as $0.0313 according to CryptoSlate data. This was followed by a 108.96% and 121.61% surge in the last seven and 30 days, respectively.
Project Team Disclosure
The token’s daily surge was recorded after the project team published a thread on its official Twitter account to disclose their treasury holdings and future plans on March 1st. The Rally team addressed concerns about financial viability of the protocol after their side chain shut down, noting that they had significant funds to continue innovating and supporting their ecosystem with over 20 million USD Coin (USDC) and more than seven billion RLY tokens held in the community treasury at present time.
The project team announced that they will soon be announcing new additions to their open-source software to support and grow their RLY ecosystem and community, such as Polygon (MATIC), Solana (SOL), Flow (FLOW), and other protocols which will help build up the RLY blockchain further .
Overall, with this announcement from the project team regarding their financial situation, it seems like there is still potential for growth within the RLY protocol despite previous setbacks experienced due to shutdowns of certain applications built on top of it.