Berachain’s BERA Token Plummets 70%, Network Activity, TVL, and Stablecoin Holdings Collapse Amid Aggressive Sell-Off

Berachain’s BERA token has experienced a steep decline, crashing more than 70% from its yearly high to a historic low of $2.689. This downturn was triggered by a massive $2.7 billion token unlock from the Boyco Vaults pre-launch liquidity program, which released 2% of BERA’s total supply into the market and led to sustained selling pressure. As a result, Berachain’s market capitalization plunged from over $920 million in March to just $339 million. Network activity has been in rapid decline, with active addresses shrinking to only 104,000—significantly less than competitors like Sui and Base. In the past week, transactions fell more than 40% to 4.25 million and associated fees dropped 37% to $5,200. Over the last month, transactions declined by 67% and fees were halved. Stablecoin reserves on Berachain have plummeted, falling to $197 million from $1.34 billion at the start of the year, with major stablecoins like PayPal USD and Honey seeing sharp drops in supply. Continuous USD outflows since late March contributed to a 50% decrease in total value locked (TVL), now at $2.92 billion. Trading volume has surged amid heightened volatility—24-hour spot volume up 105% to $120.7 million and derivatives volume up 71% to $218.3 million—while open interest dropped 6.3% to $81.4 million as some traders reduced exposure. Technical indicators show BERA is oversold with the RSI below 30, though bears remain in control and price is hovering above key psychological support at $2.80. If the price falls below $2.7021, further downside towards $2.50 looms. The token remains among the worst-performing crypto assets recently, and traders should closely monitor for continued volatility driven by network weakness, outgoing liquidity, and declining TVL.