RAIL (Railgun) has pumped 83.29% in the last 24 hours.

Gate News Bot news, October 09, according to CoinMarketCap data, as of the time of writing, RAIL (Railgun) is currently priced at $2.22, with a rise of 83.29% in the last 24 hours, reaching a high of $2.20 and a low of $1.06, with a 24-hour volume of $1.64 million.

RAILGUN is a smart contract system that enables zero-knowledge privacy for any on-chain dApp. It is a fully decentralized system governed by the RAILGUN DAO, with no centralized company. RAILGUN uses on-chain zk-SNARKs to provide privacy protection for the existing ecosystem, easily integrating with all applications, assets, and liquidity. It offers a complete private DeFi experience, allowing users to swap, transfer, lend, and earn yields on desktop, web, or mobile devices. RAILGUN does not require bridging, independent chains, or decentralized liquidity, and its security and usability are the same as the underlying chain.

Important news about RAI recently:

1️⃣ Ripple plans to acquire RAI, promoting the development of stablecoin business Ripple is planning to acquire the stablecoin payment company RAI for $200 million. This strategic move aims to strengthen Ripple's position in the stablecoin sector, particularly in promoting the development of its RLUSD stablecoin. This acquisition will bring more resources and technical support to the RAI project, potentially enhancing its status and influence in the cryptocurrency market.

2️⃣ USDT will be issued on the Bitcoin network via the RGB protocol Tether plans to issue USDT stablecoin on the Bitcoin network using the RGB protocol. This initiative will introduce a native stablecoin payment channel to the Bitcoin network, which may increase the application scenarios and demand for privacy protection protocols like RAI in the Bitcoin ecosystem.

3️⃣ Regulatory environment may be favorable for the development of stablecoin infrastructure The Bank of England's recent exemption policy for stablecoin regulation may accelerate the development of stablecoin payment channels within mainstream cryptocurrency networks like Bitcoin and Ethereum. This trend could indirectly promote the application of privacy protection protocols such as RAIL, as the increase in stablecoin volume may also lead to a rise in user demand for privacy protection.

From a technical point of view, the recent significant increase in RAIL prices may be related to the market's optimistic expectations about its future development prospects. However, investors still need to be wary of the risk of a possible correction in the near term.

This message is not intended as investment advice; investors should be aware of market volatility risks.