Rally price prediction: Will the hype continue?
Rally is on a mission to empower creatives, but what is the native token’s (RLY) latest price prediction?
- What is Rally (RLY)?
- Recent coin performance
- Rally coin price prediction – Expert opinion
From helping the unbanked gain access to financial services to ensuring charitable donations make their way to intended recipients, it has been well publicised the possible ways in which blockchain technology can help empower and support a variety of groups.
Among those groups are creatives, from musicians to artists and designers. They are sorely dependent on social media and streaming platforms to distribute and monetise their content. Now cryptocurrencies are emerging that attempt to harness decentralisation to place power back into the creator’s hands.
Rally (RLY) is one of these start-ups. A social token-oriented project, Rally allows creatives and creative communities to launch branded cryptocurrencies in order to build a digital economy around their offering, one that does not rely on intermediaries. RLY is the Ethereum token that powers the Rally network.
While this project, founded in 2020, certainly seems interesting, does it have legs? What is the latest Rally price prediction?
Before looking at forecasts, let’s examine a quick overview of the coin.
What is Rally (RLY)?
Rally allows creatives to launch their coins to monetise their fans in a variety of different ways, from providing access to new content to selling merchandise and events. The company claims the platform can empower creatives to fully capitalise on what they produce.
Defining itself as a “crypto for creative communities”, Rally claims to operate without platform and transaction fees, differentiating the operation from traditional centralised digital platforms.
Coins launched by creators are issued according to what Rally calls a “token bonding curve”. This is a linear curve with a starting price of 1% of the current price of the RLY coin.
Holders of tokens are rewarded, earning a share of community rewards proportional to the number of tokens they possess. This means that the more people get involved in the platform and the more people invest in coins, the more each holder is rewarded.
The platform also allows token holders to buy, sell and collect NFTs.
There is a cap to how much flow can be withdrawn from the ecosystem. Only 5% of the coin supply of a creator coin can be withdrawn in any given week.
RLY, the native token of Rally, is an ERC-20 token, meaning Rally is built on the Ethereum blockchain. The creator coins exist on a sidechain operated by Rally. To purchase creator coins, users must bridge their RLY to this sidechain. A bridge or blockchain bridge basically refers to the transfer of data or tokens between blockchain projects.
Brenmer Morris is the CEO. Based in San Francisco, California, Morris received a BA in financial economics and government from Claremont McKenna College, graduating in 2009. Before becoming the CEO of Rally, he worked as head of global go-to-market and revenue for Patreon, a platform designed to empower and create investment opportunities for creative communities. According to CoinMarketCap: “Rally was founded in 2020 by a team of creators and media professionals with deep experience in these sectors. CEO Bremner Morris is a thought-leader in the creator economy that previously oversaw the development of Patreon's go-to-market organisation.”
How does this information impact a Rally price prediction for 2022?
Before we look at forecasts, let’s look at the recent performance of the RLY coin.
Recent coin performance
Soon after the RLY coin was released, it rose in value from $0.07997 on 27 December 2020 to $1.1212 on 18 March 2021. RLY subsequently underwent a correction, dropping to $0.7966 on 24 March before surging to $1.3786 on 2 April. After hitting $1.1507 on 3 May 2021, the coin began to fall, dropping to $0.4099 by 9 June. Despite rising to $0.8802 on 3 September, it has since been on a general downward trend. On 9 January 2022, the RLY price hit $0.286 before falling to $0.2306 on 13 February.
The descent continued well into the second quarter of 2022, falling below the launch price ($0.068) on 12 May, and further to a new all-time low of $0.02908 on 18 June. The token has made some headway in the current bear market and at the time of writing, RLY is trading at $0.04406, up over 25% in a recent 24-hour trading window.
There is a maximum supply of 15 billion RLY coins and a current circulating supply of 2.86 billion coins. The platform has a market cap of $126m.
How does this data impact a Rally price prediction?
Rally coin price prediction – Expert opinion
Predictions can be helpful as an indicator but should be viewed as possibilities rather than absolutes. Long-term forecasts are likely to be completely off the mark, because of the inherent volatility of the crypto market and the many unknowns that could impact future prices. With this in mind, let’s look at some Rally price predictions.
First up is WalletInvestor, which in a bearish forecast, sees Rally dropping to $0.003 in a year’s time.
DigitalCoinPrice thinks that Rally could be worth $0.072 in one year’s time, and increase to an average of $0.0647 in 2024. The website’s Rally price prediction for 2025 stands at $0.0886, before decreasing slightly to $0.0832 in 2026. The site then forecasts a general year-on-year uptrend, making a Rally price prediction for 2030 of $0.21.
PricePrediction.net makes a long-term Rally crypto price prediction for 2025 of $0.25 and an RLY price prediction for 2030 of $1.48.
Remember, these forecasts are indicators rather than absolutes. The crypto market is highly volatile and prices can fall as well as rise. Never invest more than you can afford to lose.
As of 23 June, there is a maximum supply of 15 billion RLY coins and a current circulating supply of 2.86 billion coins.
Potentially. It has an interesting proposition and a solid team behind it. It also has gained a lot of recent publicity, which could signal future growth.
Nevertheless, it is always worth remembering that the crypto market is highly volatile and the price of all tokens and coins can go down as well as up.
Some experts predict the coin could go up while others think the coin could go down in the future.
It is always worth remembering that forecasts, especially long-term ones, should be viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up-to-date on any developments within the Rally ecoystem that could boost or dampen its prospects.
Remember, investing can be risky: it is important never to invest more money than you can afford to lose.