- Railgun token (RAIL) surged more than 139% following Vitalik Buterin’s X.com piece endorsing the privacy pools concept.
- DeFi transactions and private smart contracts are made possible by the privacy protocol Railgun.
Following a post by Vitalik Buterin on X.com highlighting Railgun’s privacy benefits, the company reported a triple-digit percentage growth. The Railgun token increased in value by more than 123%.
At the time of writing, Railgun—which trades under the ticker RAIL is trading for $1.35.
“It is normal to be private. Railgun adheres to the privacy pools protocol, which significantly increases the barrier to entry for malicious actors without jeopardizing users’ privacy,” Buterin wrote on X.com.
Buterin appears to have supported his statements with deeds, as seen by his Monday transfer of a sizable quantity of ether to Railgun, according to Arkham Intelligence. Data indicated that his vitalik.eth address had transferred 100 ETH, or roughly $325,000.
Based on Arkham Intelligence’s on-chain data, it was discovered that Buterin had been utilizing tiny quantities of ether almost every month to communicate with the Railgun for the previous six months.
The surge in the token’s price coincides with the cryptocurrency market value, which according to CoinGecko has climbed by more than 3.5% in the last day to $2.59 trillion. Ether gained over 5% while Bitcoin grew by 2.56%.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
