Ethereum (ETH) co-founder Vitalik Buterin has made a substantial investment in a decentralized finance (DeFi) project.
According to on-chain analysis platform Arkham Intelligence, Vitalik Buterin recently invested hundreds of thousands of dollars in a DeFi project called Railgun (RAIL).
Data shows that Buterin sent 100 Ethereum worth $325,000 to Railgun wallets. Over the past 6 months, Buterin has been regularly sending small amounts of Ethereum to Railgun wallets to attract attention.
Railgun stands out as an EVM privacy protocol that enables DeFi transactions, allowing cryptocurrencies to be used on DeFi platforms without the need for bridging.
According to CoinGecko data, RAIL, stimulated by Buterin’s investment, surged 50% in the last 24 hours, climbing to $0.84.
