Rally (RLY) has been trending upwards as the crypto has been able to record a phenomenal growth of 60% during the past twenty-four hours. The uptrend of the token has been going strong over the past couple of days albeit with a few minor breaks in the momentum but, all in all, the bullish momentum appears to be strong enough to continue for a while. At the time of writing, the crypto stood at a price of $0.39. Along with the price growth, RLY token is also surrounded by hype which has resulted in a staggering increase of nearly 2,000% in the daily trading volume. Rally currently stands at a market rank of #86.
What is Rally (RLY)?
The blockchain technology is considered to be revolutionary because of its liberating properties. The decentralization aspect is the selling point of the technology and it enables efficiency in the market. Rally is a specialized token that is geared towards social networks. It enables content creators to enter the blockchain world easily by enabling them to create their exclusive cryptocurrencies and build their own virtual worlds with a functioning economy.
The network is designed to empower creators. Creators are given full-fledged crypto which they can customize according to their needs. Creators have full control over their content and their community. They can choose to offer whatever benefits they want to their token holders and create monetization streams for themselves. Rally also aims to increase accessibility to blockchain technology which is why it does not charge any fees and allows integration of creators’ tokens with other platforms. Moreover, the network has also ensured to minimize their environmental impact.
What to expect from RLY?
The current surge of the token does not indicate bullish price movements in the future but it can hint towards the interest in the token. Rally token also has a strong footing in the market and is one of the leading tokens in the decentralized social realm. The network is also holding the fifth iteration of its hackathon in partnership with FWB which may further its current surge.
The long-term outlook of the token is bullish. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $0.54 by the end of the year while the five-year projection places it above $1.
