Coinbase-Backed Crypto Project RLY Network Surges 160% in Just One Day

The Coinbase-backed crypto project RLY Network (RLY) briefly surged 166% on Wednesday after the project revealed its financial holdings and future plans.

The RLY Network (RLY), an ecosystem of on-chain consumer apps, surged from buying and selling round $0.015 on Wednesday to a high of $0.04 later in the day.

The 276th-ranked crypto asset by market capitalization has since partially retreated, trading around $0.0224 at the time of writing, however it is still up 50% from its initial value on Wednesday.

In late January, One of the projects on RLY Network, Ethereum sidechain RallyIO shut down, the project appears to be weathering the controversy

https://twitter.com/RLYNetworkAssoc/status/1620901063909085187

However on Wednesday, RLY Network tried addressed the way forward for the project and its’ community.

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https://twitter.com/RLYNetworkAssoc/status/1631058884034183168