Rain Token Rises 20% as Team Burns $108 Million Worth of Tokens

Rain Protocol's native token RAIN has reached an all-time high after soaring 20% in a day. The surge comes as the team burns $108 million worth of tokens, exactly as requested by the community during the first DAO governance vote.

This move caught the attention of multiple industry participants, including X user Route 2 FI, who claimed Rain Protocol is building the infrastructure layer so that anyone can make markets for anything. They have invested in the project.

Rain's recent integration with HyperliquidX has also contributed to its price increase. The decentralized exchange allows users to trade RAIN with permissionless protocol and venue, which may help boost trading volume according to AltcoinSherpa.

Keval Gala highlighted four main reasons for his bullish stance on the token: the major burn, Hyperliquid's integration, the upcoming V2 with $100 million committed, and that 2.5% of trading volume is directed toward buybacks and burns. However, he also warned that a drop below the $0.017-$0.018 range could trigger a deeper pullback.