{"id":604110,"date":"2024-04-19T19:00:19","date_gmt":"2024-04-19T19:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=604110"},"modified":"2024-04-19T15:20:11","modified_gmt":"2024-04-19T15:20:11","slug":"railgun-among-crypto-market-top-gainers-why-is-rail-53-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/railgun-among-crypto-market-top-gainers-why-is-rail-53-up\/","title":{"rendered":"Railgun Among Crypto Market Top Gainers: Why Is RAIL 53% Up?"},"content":{"rendered":"<p style=\"font-weight: 400\">Recently, the crypto market fluctuations have seen most cryptocurrencies exhibit red numbers. While many remain unfazed by the market dynamics, some sectors of the crypto community have turned more pessimistic, and their bags are seemingly going down instead of up.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/are-altcoins-cooling-off-analyst-weighs-in-on-this-cycles-market\/\" target=\"_blank\" rel=\"noopener \">Are Altcoins Cooling Off? Analyst Weighs In On This Cycle\u2019s Market<\/a><\/div>\n<p style=\"font-weight: 400\">Despite this, some projects have shown a remarkable performance this week. Among the top gainers today, privacy protocol Railgun has skyrocketed 53% in the last 24 hours after a week of support from crucial figures in the crypto industry.<\/p>\n<h2 style=\"font-weight: 400\">Vitalik Buterin Shows Support To Privacy Tools<\/h2>\n<p style=\"font-weight: 400\">On Monday, news broke that Ethereum\u2019s founder Vitalik Buterin had transferred 100 ETH, worth around $325,000, to Railgun. The project is an Ethereum Virtual Machine (EVM) privacy protocol that allows DeFi private transactions.<\/p>\n<p style=\"font-weight: 400\">Although the move raised criticism, most replies supported his use of <a href=\"https:\/\/wncen.com\/news\/spain-blocks-worldcoin-project-over-data-privacy-concerns-wld-token-slides-7\/\" target=\"_blank\" rel=\"noopener \">privacy tools<\/a>. Some users pointed out that Buterin\u2019s every on-chain move is watched and speculated on.<\/p>\n<p style=\"font-weight: 400\">Ethereum\u2019s founder later addressed the news, expressing support for the project&#8217;s use of the Privacy Pools protocol, which \u201cmakes it much harder for bad actors to join the pool without compromising users&#8217; privacy.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Privacy is normal.<\/p>\n<p>Railgun uses the privacy pools protocol ( <a href=\"https:\/\/t.co\/DekkatsMR5\" rel=\"nofollow\">https:\/\/t.co\/DekkatsMR5<\/a> ) which makes it much harder for bad actors to join the pool without compromising users&#39; privacy.<a href=\"https:\/\/t.co\/MG0huDzpAu\" rel=\"nofollow\">https:\/\/t.co\/MG0huDzpAu<\/a><\/p>\n<p>&mdash; vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/24253369?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 15, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400\">Buterin also stated in his post that \u201cprivacy is normal,\u201d an idea he has expressed several times before. He has researched the use of Privacy Pools to achieve an equilibrium between blockchain privacy and regulatory compliance.<\/p>\n<p style=\"font-weight: 400\">After the post, Railgun (RAIL) skyrocketed 257%. The token went from trading at $0.56 to changing hands for $1.97 in a few hours. Moreover, the rest of the privacy tokens market saw a pump, with tokens like Monero (XRM) and Oasis Network (ROSE) rising 7% and 12.3%, respectively. As of this writing, privacy tokens are 4.7% up, per CoinGecko data.<\/p>\n<h2 style=\"font-weight: 400\">Railgun Defends From Crypto Laundering Allegations<\/h2>\n<p style=\"font-weight: 400\">On Tuesday, the crypto news platform Wu Blockchain highlighted the alleged links between the privacy protocol and the North Korean hacker group <a href=\"https:\/\/wncen.com\/news\/crypto-money-laundering-plummets-by-29-in-latest-chainalysis-findings\/\" target=\"_blank\" rel=\"noopener \">Lazarus Group<\/a>. The post affirmed that Lazarus Group \u201cis also a user of the coin mixer Railgun.\u201d<\/p>\n<p style=\"font-weight: 400\">Moreover, the news platform pointed out that, in January 2023, the US FBI claimed over $60 million worth of stolen ETH was laundered through Railgun. Additionally, the post stated that the privacy protocol became the \u201cmain alternative\u201d after the Tornado Cash sanctions.<\/p>\n<p style=\"font-weight: 400\">Railgun shut down Wu Blockchain\u2019s claims, <a href=\"https:\/\/twitter.com\/RAILGUN_Project\/status\/64068694\" target=\"_blank\" rel=\"noopener nofollow\">deeming<\/a> them \u201cnot true and false reporting.\u201d The post stated the news was \u201ca mistaken, false allegation in the first place.\u201d<\/p>\n<p style=\"font-weight: 400\">However, they clarified that the Lazarus Group is blocked from using the protocol\u2019s system due to the \u201cPrivate Proofs of Innocence\u201d (Private POI).<\/p>\n<p style=\"font-weight: 400\">The Private POI tool was implemented a year ago and gives \u201ccryptographic assurance that funds entering the RAILGUN smart contract are not from a known list of transactions or actors considered undesirable by respective wallet providers.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Congratulations to the exchange website <a href=\"https:\/\/twitter.com\/Poloniex?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@Poloniex<\/a> who since yesterday are serving spot markets for <a href=\"https:\/\/twitter.com\/search?q=%24RAIL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$RAIL<\/a> token! <a href=\"https:\/\/t.co\/P1RL8bKWsZ\" rel=\"nofollow\">pic.twitter.com\/P1RL8bKWsZ<\/a><\/p>\n<p>&mdash; RAILGUN &#8211; Private &amp; Anonymous DeFi (@RAILGUN_Project) <a href=\"https:\/\/twitter.com\/RAILGUN_Project\/status\/44404160?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400\">Despite the controversy, the price of RAIL remained above the $1 support level, hovering between $1.00 and $1.30 in the following days. RAIL continued an upward trajectory after its <a href=\"https:\/\/wncen.com\/meme-coins\/cat-themed-memecoin-surges-14-9-after-major-exchange-listing-and-whale-frenzy\/\" target=\"_blank\" rel=\"noopener \">listing<\/a> on the crypto exchange Poloniex.<\/p>\n<p style=\"font-weight: 400\">At writing time, RAIL is trading at $1.85, an 18.2% surge in the last hour. According to an <a href=\"https:\/\/x.com\/roxik901\/status\/35011718\" target=\"_blank\" rel=\"noopener nofollow\">X user<\/a>, a whale recently bought 152,034 RAIL tokens, which could have fueled the price jump.<\/p>\n<p style=\"font-weight: 400\">Moreover, following its remarkable week, RAIL has increased 156% in the last seven days, with its daily trading volume rising a stellar 376% from yesterday.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-halving-hysteria-will-history-repeat-itself\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Halving Hysteria: Will History Repeat Itself Or Are We Heading For A Market Meltdown?<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-604113 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/RAILUSDT_2024-04-19_10-26-54.png?w=860&#038;resize=860%2C410\" alt=\"crypto, Railgun, RAIL, RAILUSDT\" width=\"860\" height=\"410\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/RAILUSDT_2024-04-19_10-26-54.png?w=1077 1077w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/RAILUSDT_2024-04-19_10-26-54.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/RAILUSDT_2024-04-19_10-26-54.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/RAILUSDT_2024-04-19_10-26-54.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/RAILUSDT_2024-04-19_10-26-54.png?w=750 750w\" sizes=\"(max-width: 860px) 100vw, 860px\"><\/p>\n<pre style=\"text-align: center\">Railgun performance in the 7-day chart. Source: RAILUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/1VjLHMDy\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recently, the crypto market fluctuations have seen most cryptocurrencies exhibit red numbers. While many remain unfazed by the market dynamics, some sectors of the crypto community have turned more pessimistic, and their bags are seemingly going down instead of up. Related Reading: Are Altcoins Cooling Off? Analyst Weighs In On This Cycle\u2019s Market Despite this, some projects have shown a remarkable performance this week. Among the top gainers today, privacy protocol Railgun has skyrocketed 53% in the last 24 hours after a week of support from crucial figures in the crypto industry. Vitalik Buterin Shows Support To Privacy Tools On Monday, news broke that Ethereum\u2019s founder Vitalik Buterin had transferred 100 ETH, worth around $325,000, to Railgun. The project is an Ethereum Virtual Machine (EVM) privacy protocol that allows DeFi private transactions. Although the move raised criticism, most replies supported his use of privacy tools. Some users pointed out that Buterin\u2019s every on-chain move is watched and speculated on. Ethereum\u2019s founder later addressed the news, expressing support for the project&#8217;s use of the Privacy Pools protocol, which \u201cmakes it much harder for bad actors to join the pool without compromising users&#8217; privacy.\u201d Privacy is normal. Railgun uses the privacy pools protocol ( https:\/\/t.co\/DekkatsMR5 ) which makes it much harder for bad actors to join the pool without compromising users&#39; privacy.https:\/\/t.co\/MG0huDzpAu &mdash; vitalik.eth (@VitalikButerin) April 15, 2024 Buterin also stated in his post that \u201cprivacy is normal,\u201d an idea he has expressed several times before. He has researched the use of Privacy Pools to achieve an equilibrium between blockchain privacy and regulatory compliance. After the post, Railgun (RAIL) skyrocketed 257%. The token went from trading at $0.56 to changing hands for $1.97 in a few hours. Moreover, the rest of the privacy tokens market saw a pump, with tokens like Monero (XRM) and Oasis Network (ROSE) rising 7% and 12.3%, respectively. As of this writing, privacy tokens are 4.7% up, per CoinGecko data. Railgun Defends From Crypto Laundering Allegations On Tuesday, the crypto news platform Wu Blockchain highlighted the alleged links between the privacy protocol and the North Korean hacker group Lazarus Group. The post affirmed that Lazarus Group \u201cis also a user of the coin mixer Railgun.\u201d Moreover, the news platform pointed out that, in January 2023, the US FBI claimed over $60 million worth of stolen ETH was laundered through Railgun. Additionally, the post stated that the privacy protocol became the \u201cmain alternative\u201d after the Tornado Cash sanctions. Railgun shut down Wu Blockchain\u2019s claims, deeming them \u201cnot true and false reporting.\u201d The post stated the news was \u201ca mistaken, false allegation in the first place.\u201d However, they clarified that the Lazarus Group is blocked from using the protocol\u2019s system due to the \u201cPrivate Proofs of Innocence\u201d (Private POI). The Private POI tool was implemented a year ago and gives \u201ccryptographic assurance that funds entering the RAILGUN smart contract are not from a known list of transactions or actors considered undesirable by respective wallet providers.\u201d Congratulations to the exchange website @Poloniex who since yesterday are serving spot markets for $RAIL token! pic.twitter.com\/P1RL8bKWsZ &mdash; RAILGUN &#8211; Private &amp; Anonymous DeFi (@RAILGUN_Project) April 19, 2024 Despite the controversy, the price of RAIL remained above the $1 support level, hovering between $1.00 and $1.30 in the following days. RAIL continued an upward trajectory after its listing on the crypto exchange Poloniex. At writing time, RAIL is trading at $1.85, an 18.2% surge in the last hour. According to an X user, a whale recently bought 152,034 RAIL tokens, which could have fueled the price jump. Moreover, following its remarkable week, RAIL has increased 156% in the last seven days, with its daily trading volume rising a stellar 376% from yesterday. Related Reading: Bitcoin Halving Hysteria: Will History Repeat Itself Or Are We Heading For A Market Meltdown? Railgun performance in the 7-day chart. Source: RAILUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":604115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[16872,8323,87083,92127,85894,92125,92124,92126,4398],"class_list":["post-604110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bancor-ethereum-eos","tag-eth","tag-lazarus-group","tag-privacy-protocol","tag-privacy-tokens","tag-rail","tag-railgun","tag-railusdt","tag-vitalik-buterin"],"acf":[],"yoast_head":"\n<title>Railgun Among Crypto Market Top Gainers: Why Is RAIL 53% Up?<\/title>\n<meta name=\"description\" content=\"Privacy protocol Railgun seems to be among today&#039;s top gainers in the crypto market after a week of support from an important figure.\" 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/wncen.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Railgun Among Crypto Market Top Gainers: Why Is RAIL 53% Up?","description":"Privacy protocol Railgun seems to be among today's top gainers in the crypto market after a week of support from an important figure.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/railgun-among-crypto-market-top-gainers-why-is-rail-53-up\/","og_locale":"en_US","og_type":"article","og_title":"Railgun Among Crypto Market Top Gainers: Why Is RAIL 53% Up?","og_description":"Privacy protocol Railgun seems to be among today's top gainers in the 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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