Berachain TVL Breaks Records: Is It the Next Big DeFi Player to Watch?

Berachain TVL Breaks Records: Are You Ready for the DeFi Revolution?

Layer-1 blockchain Berachain‘s total value locked (TVL) has surpassed $3.26 billion, marking a noteworthy milestone. According to the DeFi statistics tracker DefiLlama, this accomplishment places it as the sixth-largest blockchain network in decentralized finance (DeFi). As of February 24, Berachain’s TVL was higher than Base’s and Arbitrum’s, which was a major accomplishment for the network. As of this writing, the Berachain (BERA) token was worth $6.75, with a fully diluted valuation (FDV) of $3.3 billion and a market capitalization of $715 million. The blockchain now holds 2.98% of the value locked in the whole DeFi ecosystem.

Could Berachain’s BERA Token Become the Next Rival to Ether?

In an interview with Cointelegraph last September, Vance Spencer, co-founder of Framework Ventures, which co-led a $100 million Series B round for Berachain, stated that the company’s token might be the next big rival to Ether. According to Spencer, a completely aligned blockchain ecosystem may be ushered in by the network’s proof-of-liquidity consensus.

When you stake BERA, you have to direct the liquidity you get toward these primitives. And so all the fees stay in the ecosystem,

Spencer

The Bera Foundation gave 80 million BERA tokens to qualified users on February 6. One of the biggest airdrops in cryptocurrency history, the tokens are projected to be worth $632 million.

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