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

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

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