L2Beat excludes 7000000000 from RAIN data due to price manipulation suspicion
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Ethereum Layer 2 data platform L2Beat has partially excluded Rain Protocol (RAIN) from its data aggregation due to suspected price manipulation. This decision follows a significant price increase of the Arbitrum-based prediction market token last month. L2Beat removed 7000000000 worth of non-circulating RAIN held in a team-controlled multisig from its collateral calculations. The remaining 2600000000 is believed to be used as collateral on Arbitrum, making it the largest collateralized asset within the protocol, surpassing ETH and USDC. L2Beat described the situation as absurd and is conducting further investigation into the token's price manipulation.
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