The nature-themed cryptocurrency Rain [RAIN] rallied over 11% in 24 hours, extending its January gains beyond 25%. The surge comes as institution RADR Labs acquired $5,000 worth of RAIN and the Rain exchange deposited over 320,000 tokens into a shielded pool to launch privacy-focused trading, attracting investor interest amid mixed on-chain activity.
The crypto market’s narrative has shifted daily, with nature-themed tokens recently outperforming the broader market. In the past 24 hours, Rain [RAIN] rallied over 11% at the time of writing.
The rise saw the altcoin extend by over 25% for the month of January. With the current momentum, institutions are embracing the altcoin, with the RAIN exchange now venturing into the privacy sector.
RADR Labs acquired about $5,000 worth of RAIN on the day, according to a post on X. The exchange has deposited over 320,000 RAIN into a shielded pool to begin the anonymity set, allowing participants to trade privately.
Such an initiative attracts more users, especially those who want to be anonymous. The total number of transfers exceeded 1.23 million but had dropped by about 37%, with the day’s record at 15,850.
On the holders’ side, the number climbed sharply above 170,000, though it was stagnant over the past week. This on-chain data showed it was not an outright bullish trend on all fronts, as it was mixed.
At press time, RAIN was trading between $0.006830 and $0.009198. The token broke above its upper resistance and showed momentum to rally further.
This move coincided with a bullish MACD crossover. RAIN’s market cap was just over $3.38 billion, with $4 billion approaching on the horizon.
However, the bulls were under a test to sustain the price staying above the broken resistance. The Cumulative Volume Difference was slightly bearish with a reading of negative $537,000.
