RAIN Token Price Slumps 14.5% Amidst Massive October Unlock

The prediction market token RAIN has lost 14.5 percent in value over a single day, trading at $0.0103 on October 2nd. This loss can be attributed to an upcoming unlock event scheduled for October, where tokens worth around $785.5 million will become freely tradable.

This figure is significantly larger than the token's daily turnover, which stands at approximately $17.59 million. The market capitalization of RAIN is $7.31 billion, placing it at rank 20 among all crypto assets.

The unlock event in October marks the seventh largest token release of the month, with a total of $1.08 billion being made available to the market. This means that RAIN accounts for nearly three-quarters of the entire volume, while the remaining six projects share the other $294.5 million.