iExec RLC
About iExec RLC
The price of iExec RLC (RLC) is $1.40 today, as of Sep 16 08:27 p.m., with a 24-hour trading volume of $4.25M. Over the last 24 hours, the price has decreased by -4.58%. iExec RLC currently has a circulating supply of 72.38M and a market cap of $101.48M.
RLC is the native cryptocurrency of iExec, a decentralized computing platform built on the Ethereum blockchain that allows users to make money on their spare computing power by renting it out to others.
This computing power can be used to power decentralized applications, run off-chain computations or perform a range of other functions.
The native token RLC – which stands for “Run a Lot of Computers” – powers iExec. Users can exchange the RLC token for computing power on the platform.
iExec’s token sale in 2017 raised $12 million, the sixth-largest sum for a token sale at the time. According to iExec’s blog post, iExec’s total supply is capped at 87 million RLC tokens. Sixty-nine percent of the tokens go to the crowdsale participants, 17.2% to founders and early investors, 6.9% to bounties and research and development, and 6.9% to “contingency” needs.
RLC’s price hit a peak of $3.80 in 2018, roughly half a year after the token was introduced, according to price data provider CoinMarketCap. Between 2019 and 2020, RLC’s price bounced around in the $0.18 to $1.80 range. In 2021, RLC’s soared amid the crypto-wide bull run, hitting its all-time high of $11.65 in May. RLC’s price dropped drastically afterward, falling to a low of $2.13 in July.