Prediction markets token RAIN surged more than 100% after the biotech firm Enlivex announced a $212 million investment to establish the world’s first treasury strategy centered on the token.
Rain, a fully decentralised prediction market protocol that is built on the Arbitrum chain, spiked after Enlivex announced a private placement of $212 million. Enlivex will become the first company to establish a corporate treasury with the prediction market protocol token.
Users of the rain protocol can create, trade, and resolve event prediction markets using a combination of DeFi mechanisms and AI-assisted dispute resolution to ensure fairness and accuracy. The protocol is designed to be permissionless, transparent, and it will be governed by RAIN token holders through a decentralized autonomous organization (DAO).
But the highlight is not RAIN being used for a treasury, but the former prime minister of Italy, Matteo Renzi, being selected as one of the board of directors. Renzi stated:
Good leadership depends on understanding what may come next. I believe innovation must always be responsible and purposeful. I see real potential in blockchain technologies and in the emergence of prediction-driven models that encourage greater clarity, participation, transparency, and long-term thinking.
Meanwhile, there has been a trend of crypto projects getting only politicians involved out of all the celebrities. This could be a workaround method that project founders use to get these public figures involved, rather than having them shill, which is illegal. Just a few months ago, former Prime Minister of Ethiopia, Tamrat Layne Admassu, got involved in a crypto project called Kula.
When a public figure moves into the picture, the whole narrative of the project changes. The credibility of the project increases, the venture capital and institutional investors will be comfortable in investing in projects that have a well-known personality.
Furthermore, a political figure will likely have connections with government channels and regulatory bodies, which can help with help a project secure strategic alliances, licenses, cross-border opportunities, or favorable regulatory dialogue.
$RAIN broke out from a bull flag and spiked by 118% after Enlivex made the announcement. RAIN, which was trading inside a bull flag, broke out upwards, hitting $0.0076 from $0.0035.
However, the token is currently overbought according to the Relative Strength Index (RSI) indicator. As such, the market could correct the prices, and RAIN could head downwards.
