Berachain has seen over $300 million in capital outflows in just over a week. The drop has also caused its native token, $BERA, to lose 40% of its value, while daily active users have fallen by more than half.
Sharp Decline in Value and User Engagement
In the last nine days, Berachain reported a net outflow of $308 million, far higher than any other chain during the same period. According to TokenTerminal, daily active users have decreased from 60,000 at the start of March to just 23,000 now. Although the platform reported an initial spike of 295,000 users on launch day in February, experts believe that was likely driven by bots and airdrop hunters.
The network’s total value locked (TVL), which measures the amount of funds stored in its smart contracts, has also dropped. From its peak of $3.5 billion in late March, Berachain’s TVL now stands at $2.7 billion, a 23% decrease. Despite the fall, it still ranks as the seventh-largest blockchain by TVL, according to data from DefiLlama.