In the grand tapestry of decentralized finance, a new thread weaves a story of ascendancy. Behold, Berachain, a Layer-1 blockchain, has vaulted over the $3.26 billion milestone in total value locked (TVL), ousting Arbitrum and Base from their thrones. DefiLlama, the keeper of DeFi’s numerical secrets, confirms this coup d’état.
As of this day, the 24th of February, Berachain stands tall, its TVL a testament to its might. The BERA token, like a phoenix from the crypto ashes, trades at $6.75, its market cap a modest $715 million, while its fully diluted valuation (FDV) soars to $3.3 billion. 🚀
TVL, for the uninitiated, is the amount of crypto gold locked in digital strongboxes known as smart contracts. An increase in TVL is often a harbinger of liquidity, popularity, and usability—three musketeers of the DeFi world. More capital locked in means more yields for the ecosystem’s dwellers, while less locked in translates to fewer coins for the taking. 🤑
With its TVL now the sixth-largest, Berachain has vanquished its foes, leaving Arbitrum with its $2.9 billion and Base with its $3.24 billion in the dust. The blockchain now lays claim to 2.98% of the DeFi kingdom’s riches. 🏰
In this new world order, Infrared Finance, a liquid staking protocol, leads the charge with a TVL of $1.52 billion, followed by Kodiak, the DEX, and Concrete, the yield farming protocol, each holding a significant slice of the pie. Meanwhile, Ethereum remains the unyielding sovereign, with a TVL of $58 billion, and Solana, the feisty prince, with $8 billion. 🤴👸
Vance Spencer, co-founder of Framework Ventures, a knight in shining armor for Berachain, spoke of grand dreams in a CryptoMoon interview. Spencer believes BERA could be the next knight to challenge the reign of Ether (ETH). With proof-of-liquidity consensus, Berachain could become a fully-aligned ecosystem where staking BERA directs liquidity to the heart of the network. And so, the fees remain within the realm, enriching its own coffers. 💰
On the 6th of February, the Bera Foundation, like a benevolent deity, rained down 80 million BERA tokens upon the worthy. An airdrop worth $632 million, it stands as one of the grandest gestures in crypto history. 🌈
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2025-02-24 12:01