Over the past 12 months, bitcoin (BTC) has appreciated more than 168% against the U.S. dollar, a notable performance compared to other asset classes globally. However, seven out of the top ten gainers in the past year have been meme coins, with the crypto assets TRUMP, WIF, BOME, BONK, MOG, and TURBO leading the charge. […]
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Double-Digit Gainers and Losers Define a Turbulent Week in Crypto
At press time on Monday, the global cryptocurrency market is valued at .53 trillion, reflecting a 0.89% decline over the last day. In the past week, six tokens have experienced double-digit gains, with the meme coin brett (BRETT) increasing by 65.8%. Meme Coin BRETT Leads Weekly Gains Amidst .53T Crypto Market Decline Over the past […]
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This Week’s Crypto Gainers and Losers: NOT Leads With 214% Gain, BTC and ETH Remain Flat
Both bitcoin and ethereum experienced a tepid week over the last seven days, with BTC seeing a slight increase of 0.5% and ETH declining by 3.8%. Conversely, several crypto assets posted gains, with notcoin (NOT) rising 214% against the U.S. dollar. NOT Tops the Charts With 214% Increase, TAO Declines 14% The TON-based crypto asset […]
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Pepe, Super Trump, Brett, WienerAI Lead May’s Top Meme Coin Gainers
Meme coin season is back in full swing as Pepe, Super Trump, and Brett experienced huge gains in May. Meanwhile, the new presale crypto WienerAI is emerging as a top prospect as its total raise surges toward .5 million. Are these meme coins set to continue their growth into June? PEPE, STRUMP, BRETT Bullish as […]
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The Week’s Biggest Crypto Gainers and Losers: PENDLE Soars, WLD Plummets
This week bitcoin appreciated over 6% against the U.S. dollar, while ether increased more than 3% in the same period. Meanwhile, more than twelve alternative cryptocurrencies saw double-digit gains between 10% and 33.4%. Weekly Crypto Highlights: Double-Digit Gains and Losses Across the Board As of Monday, the total value of the crypto economy stands at […]
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This Week’s Biggest Crypto Gainers and Losers: Cheelee Rises as Pendle Falls
On Monday, the cryptocurrency market maintained steady growth, with its valuation reaching .3 trillion—an increase of 1.72% over the last 24 hours. Over the past week, six cryptocurrencies have posted double-digit gains, while around two dozen have experienced significant losses. Crypto Asset Market Sees Varied Performance This week saw a mixed performance within the crypto […]
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This Week’s Crypto Gainers: Worldcoin Leads Surge, ZBC and SEI See Largest Declines
Although last week saw some progress compared to the previous one, bitcoin has only experienced a slight 2% increase, whereas ethereum has incurred a 1.6% loss during the same period. Among alternative cryptocurrencies, worldcoin (WLD) emerged as the standout performer, surging by 32.4% against the U.S. dollar, while render (RNDR) experienced a notable spike of […]
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Railgun Among Crypto Market Top Gainers: Why Is RAIL 53% Up?
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.
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’s founder Vitalik Buterin had transferred 100 ETH, worth around 5,000, 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’s every on-chain move is watched and speculated on.
Ethereum’s founder later addressed the news, expressing support for the project’s use of the Privacy Pools protocol, which “makes it much harder for bad actors to join the pool without compromising users’ privacy.”
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' privacy.https://t.co/MG0huDzpAu
— vitalik.eth (@VitalikButerin) April 15, 2024
Buterin also stated in his post that “privacy is normal,” 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 .56 to changing hands for .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 “is also a user of the coin mixer Railgun.”
Moreover, the news platform pointed out that, in January 2023, the US FBI claimed over million worth of stolen ETH was laundered through Railgun. Additionally, the post stated that the privacy protocol became the “main alternative” after the Tornado Cash sanctions.
Railgun shut down Wu Blockchain’s claims, deeming them “not true and false reporting.” The post stated the news was “a mistaken, false allegation in the first place.”
However, they clarified that the Lazarus Group is blocked from using the protocol’s system due to the “Private Proofs of Innocence” (Private POI).
The Private POI tool was implemented a year ago and gives “cryptographic assurance that funds entering the RAILGUN smart contract are not from a known list of transactions or actors considered undesirable by respective wallet providers.”
Congratulations to the exchange website @Poloniex who since yesterday are serving spot markets for $RAIL token! pic.twitter.com/P1RL8bKWsZ
— RAILGUN – Private & Anonymous DeFi (@RAILGUN_Project) April 19, 2024
Despite the controversy, the price of RAIL remained above the support level, hovering between .00 and .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 .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.
Crypto Gainers of the Week: Nervos Leads With a 47.1% Jump, Bitget Token and Bittensor Follow
In the recent week, bitcoin and ethereum have regained their pace, with a specific set of nine cryptocurrencies posting significant gains in the double digits. During this period, CKB enjoyed a 47.1% uptick, BGB ascended by 21.6%, and TAO increased by 19.3%. Highlighting the Week’s Crypto Victors and Losers On Monday, April 8, 2024, the […]
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Weekly Crypto Gainers: ONDO Tops the Chart, With ICP and XEC Making Strong Showings
Bitcoin and ethereum have recaptured some of their losses from the previous week, but a group of crypto assets have seen their values climb by double digits in the last seven days. About nine cryptocurrencies experienced increases of 20% or more, with ondo (ONDO) leading the charge with a 94% leap this week. The Week’s […]
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