The full-back this morning agreed a deal which sees him remain at Ibrox until the summer of 2017.
Wallace has emerged as one of the key players in Ally McCoist’s team both last season and this term following his move from Hearts.
And the fact he is enjoying playing for the Light Blues so much was another factor in him putting pen to paper on a brand new five-year contract.
Wallace has been continually impressed by the way Gers supporters have got behind their team, particularly during the dark months of administration.
And speaking exclusively to RangersTV.tv tonight, he highlighted how much the good feeling at the club has had an effect on him.
Wallace told Blues News: “I’ve said on a number of occasions that the fans have held us together in a lot of ways. They’ve been tremendous.
“They were a major factor in me wanting to sign on. When things weren’t going well towards the end of last season, they were still supporting us in their numbers.
“Even on the back of some poor defeats, they were standing up applauding us and the atmosphere was still great.
“They’ve been a huge factor in a number of the boys who have come here signing on as well and it’s great.
“It has been a great time since the start of the season. The prospect of going into the Third Division was a bit of a downside at the time.
“But having now experienced it and having come in to train every day, it has been great and I’ve been enjoying it.
“The new guys who have come in have brought a real freshness to the squad and improved it which was good.
“I was happy to sign the deal. It gives me a bit of long-term security and I’m enjoying the adventure we are going on.”
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