A recent development has emerged from Vitalik Buterin, co-founder of Ethereum (ETH), which has had a positive impact on the market and the price of a related altcoin through his endorsements and statements.

Vitalik Buterin's support for the altcoin called Railgun (RAIL) has resulted in an unprecedented price surge of up to 240% for RAIL.

Buterin expressed his support for RAIL through a post from his X account, also commending its innovative privacy pools protocol.

Before this announcement, it was disclosed by Arkham that Vitalik Buterin (vitalik.eth) transferred 100 ETH (approximately $325,000) to Railgun on the same day. Additionally, Chinese journalist Wu Blockchain revealed that Vitalik Buterin had been regularly interacting with Railgun for the past six months, using a small amount of ETH almost every month.

Quoting a post from Wu Blockchain, Vitalik Buterin commented on Railgun as follows:

"Privacy is a fundamental right.

Railgun utilizes the privacy pools protocol, significantly raising the bar for malicious actors attempting to infiltrate the pool without compromising users' privacy."

Railgun is an EVM privacy protocol that facilitates DeFi private transactions. By utilizing Railgun, your wallet addresses can be anonymized in your activities and transactions on blockchains where your information was previously visible to the public.

Following Vitalik Buterin's endorsement, RAIL surged by up to 240% and is currently trading at $1.66, representing a 191% increase at the time of this writing. #Altcoinseason2024 #Altcoins👀🚀 #Cryptocurrencies #ETH🔥🔥🔥