Rain by Virtuals (RAIN)

I just saw @Rain__Protocol trending on @coingecko.

For your ref, Rain is an infrastructure platform for launching prediction market apps.

An investment here could go 1 of 2 ways:

1/ Bull case

• Rain + @Enlivex continue with quality distribution
• Platform continues riding an already hot prediction market narrative
• More CEX listings
• More apps start launching on Rain's stack

2/ Bear case:

• Thin traction
• Enlivex holds 7% of supply and could dump at any time
• RAIN cost basis + unlock schedule aren't public

IMO, they’re leaning hard into the prediction market + World Cup narrative, and it makes me cautious.

This could end very badly if you ask me.

According to Protos, Nasdaq-listed Enlivex (formerly engaged in arthritis biotherapy development) saw its stock fall to a historic low of $0.42 after shifting to a “Prediction Market Digital Asset Treasury (DAT)” strategy, down 30% YTD and a cumulative 94% drop over the past five years. The company previously raised $200M in a private placement and heavily loaded its balance sheet with RAIN tokens, now holding 12% of the circulating supply. On-chain sleuth ZachXBT points out that the RAIN token is linked to Israeli entrepreneur Moshe Hogeg, who is under a $290M law-enforcement investigation. Although Enlivex’s RAIN holdings are valued on the books at $1.2B, its own market cap is just $118M, and some assets are pledged or burdened with serious liabilities. https://t.co/JY7VBSKSmA