Is Rally (RLY) A Good Investment?

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tl;drThe Rally, which describes itself as a “decentralized organization,” was founded in 2018 by CEO Kevin Chou, and is backed by initial startup funding from venture capital firms Andreessen Horowitz, Canaan, Battery Ventures, and Green Bay Ventures. It launched its first creator product, Cameo competitor Taki, in February 2020. Rally (RLY) price today is $0.613981 with a 24-hour trading volume of $7,486,562. RLY price is down -1.8% in the last 24 hours. It has a circulating supply of 300 Million RLY coins and a total supply of 15 Billion. At the time of writing this post (Oct 20, 2021), RLYI's Return On Investment (ROI) over the past year was 19%, underperformed in the 'Yield Farming, Social Money' categories which had 114% growth over the past year. It underperformed in the crypto market which had 13194% growth over the past year. RLY's Twitter account saw a growth of 39% over the last months in the number of followers, which is considerable. Although, the number of RLY Reddit and Telegram subscribers decreased by 0% over the last months so it needs to work better on these social media by marketing networks. RLY's Market Capitalization rank followed an overall increasing trend, starting at the rank of 313-307 on May-Oct 2021. However, by the time of writing this post, RLY's market cap value is $187,238,203 Million. Moreover, its liquidity score is 37% under the market's average score, making it relatively harder to sell in bear markets.

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Introduction

The Rally, which describes itself as a “decentralized organization,” was founded in 2018 by CEO Kevin Chou, and is backed by initial startup funding from venture capital firms Andreessen Horowitz, Canaan, Battery Ventures, and Green Bay Ventures. It launched its first creator product, Cameo competitor Taki, in February 2020. Then, last October, it unveiled the Rally Network, an Ethereum-based crypto project. The Rally Network allows creators to make their own cryptocurrencies, called Creator Coins, that are traded on the Ethereum blockchain. Fans can then purchase Creator Coins using traditional currency via a credit or debit card, or with cryptocurrency. Users can also buy Rally’s cryptocurrency, $RLY.

How Does Rally (RLY) Work?

Rally is an open network that lives on the Ethereum blockchain. The protocol enjoys the full guarantees of the largest DeFi ecosystem in the world. This technical structure also means that Rally users can interact with the vast Ethereum DeFi ecosystem in a seamless manner.

Rally enables creators and online communities to launch their own cryptocurrencies. By creating these so-called “social tokens,” fans can gain access to benefits like unreleased content or merch, while creators can unlock new forms of revenue.

Financial Analysis:

Rally (RLY) price today is $0.613981 with a 24-hour trading volume of $7,486,562. RLY price is down -1.8% in the last 24 hours. It has a circulating supply of 300 Million RLY coins and a total supply of 15 Billion. At the time of writing this post (Oct 20, 2021), RLYI's Return On Investment (ROI) over the past year was 19%,underperformed in 'Yield Farming, Social Money' categories which had 114% growth over the past year. It underperformed in crypto market which had 13194% growth over the past year.

Another critical factor in the success of any project is gaining public attention. Our data shows that RLY's Twitter account saw a growth of 39% over the last months in the number of followers, which is considerable. Although, the number of RLY Reddit and Telegram subscribers decreased by 0% over the last months so it need to work better on these social media by marketing networks.

Over the last five months, RLY's Market Capitalization rank followed an overall increasing trend, starting at the rank of 313-307 on May-Oct 2021. However, by the time of writing this post, RLY's market cap value is $187,238,203 Million. Moreover, its liquidity score is 37% under the market's average score, making it relatively harder to sell in bear markets.

You are saying that Rally (RLY) is the best cryptocurrency to invest in?

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