RAIN, the token linked to Rain Protocol, has come under scrutiny after crypto traders and on-chain investigator ZachXBT raised questions about its supply structure, liquidity activity and project links. Summary FabianoSolana claimed RAIN reached a $9B FDV while 81 wallets held nearly all supply. ZachXBT said RAIN deployer-linked wallets were active in Uni V3 liquidity positions. The claims add fresh pressure to thinly traded tokens with hidden supply and insider concerns. The discussion began after FabianoSolana claimed that RAIN had become a top 15 crypto token with a fully diluted valuation near $9 billion. The account also alleged that the top 81 wallets hold 99.97% of the token supply. That claim has not been independently confirmed by the project in the posts reviewed. However, it drew attention because high wallet concentration can increase price risk if insiders, early holders or related parties control most available supply. FabianoSolana also pointed to Rain Protocol’s claim that it is the third-largest prediction market. Rain recently drew market attention after reports said its foundation injected $100 million in liquidity ahead of its V2 launch and the 2026 World Cup. Market data shows RAIN trading near $0.014, with a market cap close to $8.9 billion. The token’s fast rise has made it one of the most watched smaller-market assets this week. ZachXBT checks deployer-linked activity ZachXBT said he briefly checked RAIN on-chain activity and saw the deployer and related addresses creating several Uniswap V3 liquidity positions. He also said the team appeared tied to Enlivex and Gems.vip, which he described as sketchy. Briefly checked the chain for RAIN and saw the deployer and related addresses are doing lots of Uni V3 LPs. Team is tied to a sketchy DAT Enlivex & launchpad Gems[.]vip Few people actually care about the problem of these highly manipulated tokens with hidden supply.CEXs only… pic.twitter.com/Oi5UWSowRl— ZachXBT (@zachxbt) May 31, 2026 He warned that few people care about highly manipulated tokens with hidden supply. ZachXBT also said centralized exchanges often act concerned only after such tokens crash. In his post, ZachXBT wrote, “I do not encourage trading these type of tokens as you only provide exit liquidity for insiders.” He said the best response for traders is to ignore such assets. In a later reply, ZachXBT said the co-founders linked to Rain, Enlivex and Gems appeared suspicious to him due to limited prior crypto industry experience. He added, “you do not appear with 9 figures of capital out of nowhere.” Gems link adds to market questions The debate also revived an older post from Gems Launchpad. In September 2025, the launchpad said RAIN had gained 1,400% from presale to all-time high, while another token, LUCK, had gained 700%. That post is now being viewed in a different light as traders assess whether RAIN’s rise reflects real demand or concentrated supply control. Presale gains can attract attention, but they can also raise questions about early allocation and exit risk. As previously reported by crypto.news, ZachXBT recently made similar claims in another case involving LAB. He accused LAB-linked insiders of hiding token distribution details while allegedly maintaining control over more than 95% of supply. Earlier reports also covered his claim that a LAB founder participated in centralized exchange manipulation that harmed retail investors. Those reports do not prove the same conduct in RAIN, but they show why ZachXBT’s latest warning gained attention quickly. RAIN’s current debate centers on transparency. Traders are asking whether the token’s high valuation, wallet concentration and liquidity setup give insiders too much control over price action. No exchange or regulator has announced formal action against RAIN at the time of writing. Rain Protocol has also not issued a public response in the material reviewed for this article.
