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.(Ignas)