Berachain \u2013 EVM-identical Layer 1 blockchain \u2013 has reached a new milestone this week.<\/p>\n
Within 20 days of its Mainnet launch, Berachain has surpassed major blockchains such as SUI, Avalanche, and Arbitrum, in Total Value Locked (TVL), after hitting $3.27 billion before retreating mildly. Berachain secured the sixth position in DeFi TVL following the new feat before slipping the seventh spot right behind Base.<\/p>\n
The latest figure outpaced SUI\u2019s $1.4 billion and AVAX\u2019s $1.23 billion TVL. Despite most native protocols yet to launch \u2013 suggesting potential for further growth \u2013 Berachain currently holds a $700 million circulating market cap. It ranks among the top 100 on CoinMarketCap and is trading at $6.7 at the time of writing.<\/p>\n
Meanwhile, DeFiLlama\u2019s data<\/a>\u00a0revealed that Berachain topped other chains in terms of net bridge inflows over the past seven days.<\/p>\n According to market experts<\/a>, this rapid ascent by Berachain presents an asymmetric bet with significant upside potential.<\/p>\n Berachain\u2019s<\/a> expansion has been fueled by major protocols. For instance, liquid staking platform Infrared Finance stands at the forefront, holding $1.52 billion in TVL. Decentralized exchange Kodiak followed closely with $1.1 billion, while yield farming protocol Concrete contributed nearly $1.11 billion in locked assets.<\/p>\n The Bera Foundation distributed released BERA airdrops to community members after the successful launch of the Proof-of-Liquidity Layer 1 network on February 6. This was heralded as one of the biggest airdrops ever in the industry, covering 15.75% of its 500 million token supply. But the airdrop sparked<\/a> community backlash over perceived unfair allocations.<\/p>\n Despite long-term engagement, the testnet users received just 1.65%, while Bong Bears NFT holders got 6.9%, which prompted criticism on social platforms. The Berachain Foundation defended the distribution and cited targeting challenges.<\/p>\n Berachain emerged as one of the most talked-about crypto projects at Token 2049. In April, it raised $100 million in a Series B round co-led by Brevan Howard Digital\u2019s Abu Dhabi branch and Framework Ventures. The fund also witnessed backing from Polychain Capital, Hack VC, and Tribe Capital. In a statement<\/a> to Bloomberg, Berachain co-founder \u201cSmokey The Bera\u201d had said,<\/p>\n \u201cWe see this raise as a major validation of our approach to building a blockchain that\u2019s built on feedback from real users and developers, and driving value to those groups who are actually contributing to the network\u2019s growth.\u201d<\/p>\n The company said the new funding would strengthen its presence in Hong Kong, Singapore, Southeast Asia, Latin America, and Africa.<\/p>\n The post Berachain Surpasses Major Blockchains in TVL Within 20 Days of Mainnet Launch<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Berachain \u2013 EVM-identical Layer 1 blockchain \u2013 has reached a new milestone this week. Within 20 days of its Mainnet launch, Berachain has surpassed major blockchains such as SUI, Avalanche, and Arbitrum, in Total Value Locked (TVL), after hitting $3.27 billion before retreating mildly. Berachain secured the sixth position in DeFi TVL following the new […]<\/p>\n","protected":false},"author":0,"featured_media":47414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47413"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47413"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/47414"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BERA Airdrop Controversy<\/h2>\n