Railgun's $RAIL is down 72% since its hyped integration in Kohaku privacy wallet by Ethereum Foundation. CT was bullish on $RAIL for months, and most recently in June as a privacy narrative trade. Yet unlike $ZEC, $RAIL retraced almost all gains. Still, Railgun's metrics are all near ATHs (fees, growing private volume, high staking (72%), TVL etc). Fundamentals are strong but $RAIL got overhyped and as a mid-cap liquidity is relatively shallow. Rail probably will make a comeback when privacy gets hot again.
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