A new Ethereum-based token is getting a big boost from Coinbase.
The top US exchange just announced that it is now supporting Rally (RLY) deposits and withdrawals.
Coinbase is an investor in Rally, an incentive platform that allows users to easily create their own branded cryptocurrency on the Ethereum blockchain.
The network aims to connect content creators and fans who can buy, donate and keep their favorite creator’s coin.
The rally network uses its RLY governance token to compensate users, influencers and local ambassadors, process transactions anywhere in the world and vote on community proposals.
Since joining the platform, the RLY token has increased 10.4% from $ 0.31 to $ 0.35 at the time of publication, according to CoinGecko.
The project is also supported by a16z, Battery, Canaan, Kinetic, 1confirmation, Altos Ventures, SparkLabs and The House Fund.
Rally is the second crypto asset to be supported by Coinbase Custody in one month. Injective Protocol (INJ) rose 33% in late December after adding it to the platform.
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Featured image: Shutterstock / Sergey Nivens