Ethereum (ETH) co-founder Vitalik Buterin made a significant 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 revealed that Buterin sent 100 Ethereum worth $325,000 to Railgun wallets. Over the past 6 months, Buterin had been drawing attention by regularly sending small amounts of Ethereum to Railgun wallets.
Railgun stands out as an EVM privacy protocol that allows DeFi transactions, enabling cryptocurrencies to be used on DeFi platforms without the need for bridging processes.
According to CoinGecko data, RAIL surged by 50% in the last 24 hours to reach $0.84 as a result of Buterin’s investment.
