RAIN Token Explodes 100% Hourly: Did Italy’s Former PM Fuel the Surge?
The cryptocurrency market has consolidated in the previous 24 hours, with most main digital belongings registering delicate good points or insignificant losses.
However, one moderately unfamiliar token skyrocketed by greater than 100% in the previous hour following a multi-million greenback initiative that includes the former Italian Prime Minister Matteo Rizi.
What a Pump
Enlivex Therapeutics (a clinical-stage immunotherapy firm) announced that it has entered right into a securities buy settlement for a non-public funding in public fairness for the buy and sale of 212 million strange shares at a worth of $1 per unit.
The group plans to make use of the proceeds to implement the first RAIN prediction markets token treasury technique. Speaking on the matter was Shai Novik, Chairman of the Board of Directors of Enlivex:
“We consider that following the closing of this transaction and the implementation of the RAIN treasury technique, Enlivex will turn into the first U.S.-traded public firm to supply traders with an publicity to prediction markets, considered one of the fastest-growing sectors in the crypto trade. RAIN’s decentralized protocol makes use of blockchain know-how to let contributors commerce on expectations of future occasions, and we consider it would turn into a dominant power on this increasing market section.”
RAIN – the native token of the RAIN Protocol – shot by roughly 100% after the information, with its worth reaching an all-time high of roughly $0.006974 (per CoinGecko’s knowledge). Its market capitalization exceeded $1.7 billion, making the asset the Sixty fifth-biggest in the whole trade and flipping altcoins like Aptos (APT), Ondo (ONDO), Worldcoin (WLD), Official Trump (TRUMP), and others.
Meanwhile, Chairman Novik revealed that Matteo Renzi (former Prime Minister of Italy who served from 2014 to 2016) has joined the Board of Directors of Enlivex.
What is RAIN?
Rain Protocol is a decentralized protocol constructed on Arbitrum that allows customers to create choices on quite a few topics with out permission. People can outline their very own markets and choose the outcomes, as the entity’s imaginative and prescient is to permit most decentralization, transparency, and management for every participant.
The challenge’s native token is RAIN, which started buying and selling in September this yr. Some exchanges that provide buying and selling companies for the asset embrace MEXC, BitMart, and BingX.
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