- Berachain native token BERA price dropped by 16% today.
- Berachain layer-1 mainnet launched on Feb 06, 2025 along with its token airdrop.
Berachain is making waves in the industry with its recent mainnet launch and token airdrop. Its Proof-of-Liquidity consensus mechanism is grabbing attention across the community. After launching one of the largest crypto airdrops, BERA token is now trading at $7 price range. But, is the project worth the hype?
Berachain token airdrop was launched yesterday after much anticipation from the crypto community. Its tokenomics stated that a total of 500 million initial supply of BERA tokens. Out of the total supply, 79 million tokens are allocated for airdrop starting from Feb 6.
After the airdrop launch, BERA token reached a peak of $14.46 within a few hours, as a result of built up interest and enthusiasm in the crypto community. However, it is currently trading at $7.39 as the initial excitement subsides.
Major crypto exchanges such as OKX, Upbit, Bithumb, Coinbase, and Binance listed BERA spot trading pairs after the airdrop launch. The addition of BERA tokens on top crypto exchanges further added to the increased hype around Berachain.
Amidst the BERA token airdrop hype, a whale made a profit of $589K within a couple of hours. This whale deposited 1.6 million USDC to hyperliquid and withdrew $2.19 million by shorting BERA tokens. On the other hand, another whale deposited 2.5 million USDC into hyperliquid to buy BERA. The increase in trading activity led to a thousand-fold increase in its 24-hour trading volume.
Is Berachain Worth the Hype?
The Berachain project launch was one of the highly anticipated project launches in crypto. Three pseudonymous co-founders Smokey the Bear, Homme Bera, and Dev Bear, developed Berachain. It has several innovative features like its PoL consensus, triple token system, and EVM compatibility.
The PoL consensus claims to align incentives across the network and create a cooperative economy. While BERA is the native utility token of the project, HONEY is native stablecoin, and BGT is the governance token.
From starting as an NFT project to launching its own layer-1 mainnet, the project came a long way. Unlike existing crypto projects, it prioritizes liquidity and incentive mechanisms since the beginning of the launch. Its tough competition to established crypto projects such as Ethereum and Solana makes it intriguing to watch Berachain.
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