Berachain token Surges as DeFi Ecosystem thrives
Berachain’s token experienced a notable boost on Monday, hitting its highest point since early march. The BERA token soared to $7.45,marking a 42% increase from its lowest point this year. This surge has pushed its market cap above $795 million.
The token’s rise coincides with the growth of its decentralized finance (DeFi) ecosystem. The network’s total value locked (TVL) reached a new record of $3.2 billion, up from $770 million at its lowest point this year.This growth reflects the increasing popularity of its DeFi assets.
Several key factors contributed to this surge. The network’s DeFi ecosystem has seen a massive influx of assets. Infrared Finance, a liquid staking platform on Berachain, now holds over $2.13 billion in assets, a 38% rise from the previous month. This growth indicates a strong user engagement.
BERA’s price hike also stems from the launch of the Proof of Liquidity feature. This innovation lets users earn rewards through 37 new vaults, distributing BGT emissions. Active incentives soared to $355,000 shortly after launch, with the top vault offering a 215% annual return. Learn more about Berachain’s updates here.
Technical analysis shows BERA’s price has broken above a key resistance at $7.08, forming an ascending triangle—a bullish sign. The price is now near the Murrey math Lines’ ultimate resistance at $7.8125. if the trend continues, it could reach $8.60, its highest since March 3. However, a drop below $7 would signal a potential reversal.
