The crypto community was abuzz with speculation when Ethereum’s Vitalik Buterin deposited $330,000 in crypto into Railgun’s privacy protocol. Buterin transferred 100 Ether (ETH) to Railgun using his ENS-tagged wallet, vitalik.eth. Reports indicated that Buterin has been using the protocol for the past six months, depositing small amounts of ETH.

Railgun is an EVM dapp that offers privacy features for on-chain lending and token swaps. It utilizes zk-SNARK encryption technology to ensure privacy while proving asset ownership. Since its launch in January 2021, Railgun has locked in nearly $35 million in total value.

Buterin clarified his use of Railgun, stating that privacy is a normal feature and that the protocol offers anonymity without compromising security. Following his statement, Railgun’s native token RAIL saw a 140% surge in price, trading at around $1.36.

This isn’t the first time a token endorsed by Buterin has experienced a price increase. In January, after Buterin mentioned the Ethereum Name Service in a blog post, the protocol’s native crypto ENS rose by nearly 40%.

Vitalik Buterin’s involvement in projects like Railgun continues to impact the cryptocurrency market, driving interest and investment in innovative blockchain technologies.

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