Why is Rain down today?

Rain is down 13.6% over 24 hours and 17.8% on the week, a move that the broader market does not explain: Bitcoin is essentially flat at $79,677 (-0.3% on the day, -2.5% on the week). There is no Rain-specific news in today's feed, so the decline looks idiosyncratic — concentrated selling into thin liquidity, with just $18.15 million of 24-hour volume against a $5.13 billion market cap, roughly 0.35% turnover.

The backdrop is a run of security incidents that has cooled risk appetite across smaller tokens. Bloom Trading lost nearly $1 million after an attacker drained 49 wallets belonging to nine users, with 9,408 SOL moved from 48 Bloom-linked wallets in 94 seconds; CertiK separately traced Tornado Cash deposits to the wallet behind a $1.58 million drain. Keystone is destroying 18,835 hardware wallets after a stolen device authentication key exposed nearly 26,000 customers.

Policy news skewed constructive — Ripple won final OCC approval for a national trust bank covering RLUSD reserves, and the SEC proposed a tailored crypto custody framework — but neither touches Rain directly.