Rain Coin (RAIN)

BREAKING: RAIN flipped USDC and ETH as Arbitrum's largest asset despite L2Beat removing $7B of team-controlled tokens from TVS.

RAIN still accounts for ~$2.6B in total value secured after the adjustment. L2Beat researchers called the situation "clearly absurd" and said the token appears "heavily manipulated." The prediction market protocol raised $100M in liquidity commitments in May.

L2Beat Says RAIN Token Appears "Heavily Manipulated" After Removing $7B of Team-Controlled Supply From Arbitrum TVS

L2Beat said it has removed around $7 billion worth of non-circulating RAIN tokens held in team-controlled multisigs from Arbitrum's Total Value Secured (TVS) metric. Despite the adjustment, RAIN still accounts for around $2.6 billion in TVS, making it the largest asset on Arbitrum, surpassing USDC and ETH. L2Beat researchers described the situation as "clearly absurd" and said the token appears to be "heavily manipulated," adding that further investigation is underway.

RAIN is a prediction market protocol built on Arbitrum. The project announced a $100 million liquidity commitment in May and briefly became one of the three largest prediction market protocols by valuation.

L2Beat states that about $7 billion worth of non‑circulating RAIN tokens controlled by the project team's multi‑sig wallet have been removed from the Arbitrum TVS statistics. L2Beat further points out that even after excluding those assets, RAIN still ranks as the largest asset on Arbitrum with a size of roughly $2.6 billion, surpassing USDC and ETH, and describes this situation as “clearly unreasonable,” suggesting the token shows signs of serious human manipulation and is currently under further investigation. https://t.co/mpMVGWjmuV