RAIN, the cryptocurrency associated with Rain Protocol, has come under scrutiny after cryptocurrency traders and on-chain investigator ZachXBT raised questions about the supply structure, liquidity activity, and links to the project.
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- FabianoSolana claimed that RAIN reached $9 billion in FDV while 81 wallets held almost all of the supply.
- ZachXBT said wallets linked to the RAIN distributor were active in Uni V3 liquidity positions.
- These claims add new pressure to thinly traded tokens with hidden supply and internal concerns.
The discussion started after Fabiano Solana claimed that RAIN has become among the top 15 cryptocurrency tokens with a fully diluted value approaching $9 billion. The calculation also claims that the top 81 wallets hold 99.97% of the token supply.
This claim has not been independently confirmed by the project in the posts reviewed. However, it has drawn attention because high portfolio concentration can increase price risk if insiders, early holders, or related parties control most of the available supply.
Fabiano Solana also pointed out Rain Protocol’s claim to be the third largest prediction market. Rain recently caught the market’s attention after its foundation reportedly injected $100 million in liquidity ahead of the launch of V2 and the 2026 World Cup.
RAIN market data shows commerce Close to $0.014, with a market capitalization approaching $8.9 billion. The token’s rapid rise has made it one of the most watched smaller assets this week.
ZachXBT checks activity associated with the publisher
ZachXBT said he briefly examined RAIN’s on-chain activity and saw the publisher and related addresses creating several Uniswap V3 liquidity positions. He also said the team appeared to be linked to Enlivex and Gems.vip, which he described as unclear.
He warned that few people care about tokens that are highly manipulated with hidden supply. ZachXBT also said that centralized exchanges often only act concerned after these tokens crash.
“I discourage trading this type of currency because you only provide exit liquidity to insiders,” ZachXBT wrote in his post. He said the best response for traders is to ignore such assets.
Later to replyZachXBT said that co-founders associated with Rain, Enlivex, and Gems seemed skeptical to him due to their limited prior experience in the cryptocurrency industry. “You don’t show up with 9 figures of capital out of nowhere,” he added.
Adds gem link to market quests
The discussion also revived an old post from Gems Launchpad. In September 2025, the launchpad said RAIN rose 1,400% from presale to an all-time high, while the price of another token, LUCK, rose 700%.
This post is now being viewed in a different light as traders evaluate whether RAIN’s rise reflects real demand or concentrated control of supply. Premarket gains can attract attention, but they can also raise questions about early allocation and exit risks.
Ditto I mentioned By crypto.news ZachXBT recently made similar allegations in another case involving LAB. He accused insiders linked to LAB of hiding token distribution details while retaining control of more than 95% of the supply.
Previous reports also covered his claim to be the founder of LAB partner In centralized manipulation of the stock market that harmed retail investors. These reports don’t prove the same behavior at RAIN, but they do explain why ZachXBT’s latest warning quickly attracted attention.
The current RAIN discussion focuses on transparency. Traders wonder if the token’s high valuation, portfolio concentration, and liquidity setup give insiders too much control over its price action.
No exchange or regulator has announced formal action against RAIN at the time of writing. Rain Protocol also did not issue a public response in the materials reviewed for this article.
