Wu Blockchain (@WuBlockchain): L2Beat Says RAIN Token Appears "Heavily Manipulated" After Removing $7B of Team-Controlled Supply From Arbitrum TVS
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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.