Enlivex Unveils $212M Rain Token DAT Strategy as RAIN Surges Over 120%

Key Notes

• The biotech firm's treasury pivot sparked RAIN token to surge over 120% to new all-time highs within a day of the announcement.
• Enlivex shares jumped 18% following the disclosure of the $212 million PIPE financing deal priced at $1.00 per ordinary share.
• Rain Protocol enables decentralized prediction markets on Arbitrum, competing in the growing space alongside Polymarket and Kalshi.

Nasdaq-listed Enlivex Therapeutics has unveiled plans to raise about $212 million in a private placement to build a Rain token-focused digital asset treasury, positioning the project as the first prediction-markets-oriented DAT strategy by a US-listed company.

The announcement coincides with a sharp move in the RAIN price on the market, where the token has gained more than 120% over the last 24 hours, according to CoinGecko .

Enlivex targets $212M for Rain-focused treasury

Enlivex said it has entered into a securities purchase agreement for a private investment in public equity (PIPE) financing of approximately 212 million ordinary shares (or equivalents) at $1.00 per share, a price that reflects an 11.5% premium to its November 21 closing level on Nasdaq. Gross proceeds are expected to reach around $212 million, funded in a mix of US dollars and USDT, according to its press release .

$ENLV just made it rain – big time!

Enlivex, a @Nasdaq -listed company, announced a $212M private financing and became the first public company to adopt a digital-asset treasury strategy built around prediction markets – with $RAIN at the center of that strategy.

Just hours… pic.twitter.com/THtjBbi9Zu

— Rain (@Rain__Protocol) November 24, 2025

RAIN powers a decentralized predictions and options protocol on Arbitrum, allowing users to create and trade custom markets on a wide range of events through permissionless smart contracts. This platform is following the trend of prediction markets led by Polymarket and Kalshi , which are attracting significant funding and even recognition from Google , which is integrating their data into its search results.

RAIN token and Enlivex stocks jump on treasury news

RAIN has seen heavy speculative interest ahead of the treasury announcement, with CoinGecko data showing the token up by well over 120% in the last 24 hours at the time of writing, setting a new all-time high. Trading volumes have also expanded sharply, to more than $46 million, pushing RAIN into the ranks of the day’s stronger performers among smaller-cap assets. Worth mentioning is the token launched 2 months ago, and it’s listed on a few big exchanges like BingX, MEXC, and BitMart.

Now in the Nasdaq market, the announcement led to an increase in ENLV’s stock price. At the time of writing, its share price was up 18% in less than 24 hours, with a volume of 201 million shares and a market cap of $28.425 million, according to Yahoo! Finance .

The announcement has generated significant interest among participants in the first treasury of a prediction market token by a public company in the United States. Although the cryptocurrency market has been declining over the last month, prediction market platforms are having a good year in 2025, and it seems that Rain is no exception.

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