Berachain TVL reaches $3.26 billion
Berachain (CRYPTO:BERA), a Layer-1 blockchain, has surpassed $3.26 billion in Total Value Locked (TVL), making it the sixth-largest network in the decentralised finance (DeFi) sector, according to DefiLlama.
As of February 24, Berachain's TVL exceeded Arbitrum's (CRYPTO:ARB) $2.9 billion and Base's $3.24 billion.
The Berachain (BERA) token is currently trading at $6.75, with a market capitalisation of $715 million and a fully diluted valuation of $3.3 billion.
The rise in TVL reflects increasing liquidity, adoption, and usability within the network.
Berachain now holds 2.98% of the total DeFi TVL.
Infrared Finance, a liquid staking protocol, leads Berachain with a TVL of $1.52 billion, followed by Kodiak, a decentralised exchange at $1.12 billion, and Concrete, a yield farming protocol, with nearly $800 million.
Ethereum (CRYPTO:ETH) remains the largest DeFi network, with $58 billion in locked assets, accounting for 53.4% of the total market.
Solana (CRYPTO:SOL) ranks second with $8 billion, holding a 7.45% market share.
Vance Spencer, co-founder of Framework Ventures, believes Berachain’s proof-of-liquidity consensus mechanism could position it as a major competitor to Ethereum.
On February 6, the Bera Foundation distributed 80 million BERA tokens to eligible users, valued at approximately $632 million.
At the time of reporting, the Berachain (BERA) price was $7.00.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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