Berachain’s currency is trading at its lowest point ever, down more than 70% from its March high. At one time, Berachain was a cherished blockchain project, but both investor trust and user activity have fallen sharply.
BERA can be purchased for $2.689, down from its recent top of $9.1823 in March. The token’s market cap now stands at $339 million, after falling heavily from $920 million just two months before.
Berachain Activity Plunges Across Key Metrics
According to data from Nansen, Berachain does not look healthy at this time. In the past week, the number of active addresses on Near has dropped to just 104,000, falling behind peers such as Sui and Base. In the same period, transactions fell 40% to total 4.25 million and fees dropped 37% to earn only $5,200.
Things seem even worse over the last month. The number of network transactions has gone down by a massive 67%, dropping to 26.78 million and total fee income has dropped by half to $36,000.
Crypto capital aimed at stablecoins is also leaving the industry. The amount of stablecoins on Berachain has fallen from $1.34 billion at its highest this year to around $197 million. During the past month, PayPal USD decreased by around 42% and Honey stablecoins saw a 68% fall.
Berachain Suffers Crypto’s Sharpest Recent Collapse
Crypto has seen net withdrawals daily since March 27 and there has also been a 50% decrease in the amount of money locked in DeFi, so TVL is now $2.92 billion. Technically, BERA looks like it wants to trade in a double-bottom form near $2.70 which is often an indicator for upward price moves.
Despite this, the token is still below the 50-period and 100-period moving averages which tells us that any short-term recovery isn’t reliable. According to analysts, ever-lower BERA prices could lead to stronger bearish trends and take the price to the strong support area of $2.50 per coin.
The deep slide in prices for Berachain is considered the worst recent collapse in the crypto sector, leading to questions about whether newer blockchain ecosystems can survive such sharp changes in the market.
