The crypto market narrative is evolving daily, with nature-themed tokens recently outperforming the broader market.
During the last 24 hours, Rain (RAIN) has increased by more than 11% at the time of writing. The rise saw the altcoin expand by more than 25% for the month of January, according to CoinRank data.
With the current momentum, institutions are adopting the altcoin, and the RAIN exchange is now venturing into the privacy sector.
Institutions Accumulate as RAIN Exchange Embraces Privacy
Rain’s native exchange token, RAIN, has attracted the attention of institutions. RADR Labs acquired approximately $5,000 worth of RAIN that day, according to a post on X (formerly Twitter).
Regarding this, the exchange has deposited over 320,000 RAIN into the protected pool to begin anonymity. This would allow participants to negotiate privately, thereby reinforcing trends in the privacy industry.
Such an initiative attracts more users, especially those who wish to remain anonymous. With this in mind, it was also crucial to examine the performance of the channel’s business.
Decoding on-chain activity
The total number of transfers exceeded 1.23 million at the time of writing. However, this figure fell by around 37%, with a high for the day at 15,850.
On the holder side, the number has climbed sharply above 170K, although it has stagnated over the past week. This indicates that although holders increased their stakes during the first month of the year, momentum was slowing.
Source: Arbiscan
This on-chain data showed that it was not a purely bullish trend on all fronts, as it was mixed. In the short term, the data was bearish, while the long-term outlook was bullish.
Will the technical structure allow the momentum to be maintained?
Will the price maintain the trend?
The charts showed a staircase movement for RAIN/USDT, with sideways consolidations giving way to a bullish surge. The second upward move after the launch was a 137% rally, taking the price action to its second stage of accumulation.
At press time, RAIN was trading between $0.006830 and $0.009198. Notably, the token broke above its upper resistance and showed momentum to continue its recovery.
This move coincided with a bullish crossover in the MACD. RAIN’s market cap stood at just over $3.38 billion, with $4 billion on the horizon.
Source: TradingView
However, the bulls were being tested to keep the price above the broken resistance.
The cumulative volume difference (CVD) was slightly bearish with a negative reading of $537,000. This meant that bearish orders were filling the RAIN market.
Final Thoughts
- RAIN increases by 10% amid institutional accumulation and inclusion of the privacy layer.
- RAIN is eyeing a market cap of $4 billion as the price exits a sideways consolidation.
