The cryptocurrency market has consolidated previously 24 hours, with most main digital property registering delicate positive factors or insignificant losses.
Nonetheless, one somewhat unfamiliar token skyrocketed by greater than 100% previously hour following a multi-million greenback initiative that includes the previous Italian Prime Minister Matteo Rizi.
What a Pump
Enlivex Therapeutics (a clinical-stage immunotherapy firm) introduced that it has entered right into a securities buy settlement for a non-public funding in public fairness for the acquisition and sale of 212 million unusual shares at a worth of $1 per unit.
The group plans to make use of the proceeds to implement the primary RAIN prediction markets token treasury technique. Talking on the matter was Shai Novik, Chairman of the Board of Administrators of Enlivex:
“We consider that following the closing of this transaction and the implementation of the RAIN treasury technique, Enlivex will change into the primary U.S.-traded public firm to supply buyers with an publicity to prediction markets, one of many fastest-growing sectors within the crypto business. RAIN’s decentralized protocol makes use of blockchain expertise to let members commerce on expectations of future occasions, and we consider it should change into a dominant pressure on this increasing market phase.”
RAIN – the native token of the RAIN Protocol – shot by roughly 100% after the information, with its worth reaching an all-time excessive of roughly $0.006974 (per CoinGecko’s knowledge). Its market capitalization exceeded $1.7 billion, making the asset the Sixty fifth-biggest in your complete business and flipping altcoins like Aptos (APT), Ondo (ONDO), Worldcoin (WLD), Official Trump (TRUMP), and others.
In the meantime, Chairman Novik revealed that Matteo Renzi (former Prime Minister of Italy who served from 2014 to 2016) has joined the Board of Administrators of Enlivex.
What’s RAIN?
Rain Protocol is a decentralized protocol constructed on Arbitrum that allows customers to create choices on quite a few topics with out permission. Individuals can outline their very own markets and choose the outcomes, because the entity’s imaginative and prescient is to permit most decentralization, transparency, and management for every participant.
The venture’s native token is RAIN, which started buying and selling in September this 12 months. Some exchanges that provide buying and selling companies for the asset embrace MEXC, BitMart, and BingX.
The submit RAIN Token Explodes 100% Hourly: Did Italy’s Former PM Gasoline the Surge? appeared first on CryptoPotato.