Berachain Surpasses Base and Arbitrum with $3.2 Billion TVL

The total value locked (TVL) in Berachain has risen to $3.24 billion, placing the network in sixth position, ahead of Base ($3.21 billion) and Arbitrum ($2.91 billion).

Over the past seven days, Berachain’s TVL increased by 20% amidst a general downturn among its competitors.

Berachain hosts 33 protocols. The leading platform is the LST platform Infrared Finance ($1.51 billion), followed by DEX Kodiak ($1.11 billion) and the yield aggregator Concrete ($803 million).

The native cryptocurrency of Berachain (BERA) is trading at $6.94. The coin ranks 115th by market capitalization at $748.6 billion. The fully diluted valuation (FDV) stands at $3.48 billion.

Berachain is a modular first-layer blockchain with EVM support. The network employs a Proof-of-Liquidity consensus algorithm, a variation of delegated Proof-of-Stake. This model involves three assets: BERA for gas fees, BGT for governance, and HONEY as a stablecoin.

In April 2023, Berachain developers raised $42 million. A year later, they secured another $100 million.

The mainnet launch and BERA airdrop occurred on February 6.