Is this the best crypto to buy now? Let’s explore whether BERA is set for more gains or whether other altcoins could prove better investments.
Berachain’s Huge Volume on Opening Trading DayBerachain is a new layer 1 blockchain that introduces a concept called “Proof-of-Liquidity,” aiming to concentrate liquidity at the blockchain level and remove fragmentation that occurs when funds are spread among protocols.
DeFi apps such as decentralized exchanges, perpetual futures exchanges, and lending services will be integrated into the blockchain and powered by network validators.
The innovative L1 model caught the attention of top industry venture capitalists, including Brevan Howard Digital, Polychain, Framework Ventures, and Hack VC, who have invested in the project.
The Berachain token ($BERA) launched on Thursday and has seen a whopping $2.68 billion in 24-hour trading volume, illustrating the massive hype that surrounds it.
Over 39% of that volume has taken place on Binance, 4.76% on ByBit, and just 0.34% on Coinbase so far.
Based on volume, Berachain is the eighth most-active cryptocurrency in the past 24 hours, trailing only market titans Bitcoin, Ethereum, XRP, and Solana, alongside some stablecoins.
Currently, Berachain is trading at $7.75, jumping 4.7% in the past hour and over 670% since launching. It holds a $830 million market cap.
$BERA $25M Perp Liquidations and Mixed Community SentimentTrading activity isn’t just high in the spot market for Berachain. Perps traders have cashed in, too.
Coinglass data shows that $BERA already has over $224 million in Open Interest (the combined value of all open futures trading positions), up 5.2% in the past hour.
Based on Open Interest, Berachain is the 20th largest cryptocurrency. However, based on liquidations, it is the third largest, with $25 million wiped out in the past 24 hours.
Berachain’s funding rate is -0.1117%, meaning short sellers must pay a hefty fee to long buyers in order to keep their positions open.
Analyst TimelessBeing noticed this and suggests a move to the upside is coming.
$BERA on the move I am going to keep long as they continue to pay me to do soManage the risk and enjoy the pop BOTTOM IS IN THE MAKING pic.twitter.com/oZ060tC3Kq
— TimelessBeing (@Timeless_Crypto) February 7, 2025That said, the funding rate is negative because there are notable bearish opinions surrounding Berachain. Analysts have highlighted the project’s poor tokenomic structure and vesting agreement for VCs, which may enable them to extract profits before the public-facing vesting dates.
Berachain $BERAI think this is the ultimate grift L1. It is a pure fork that brings nothing to the table. It's almost as useless as Blast. It is just another VC insider grift, people wanting to get rich off of Ethereum tech.A huuge supply is given to founders and early… pic.twitter.com/qUKgxQdlKP
— yugo (@yugoviking) February 6, 2025While it certainly has potential, Berachain comes with risk. It has lost credibility, and traders are willing to pay a high fee to bet on its downfall. It’s likely not the best investment to make right now.
Let’s explore two alternatives to watch instead.
These 2 Meme Coins Are Tipped to Explode in 2025The main concern about Berachain is the involvement of major VC firms, thereby veering away from the “community-first” principles that everyday investors like to see.
So, the launch of Wall Street Pepe is a breath of fresh air. They’re giving the community day-one access with a publicly available presale, and there are no VC reserves.
Wall Street Pepe has proved to be the largest meme coin presale of all time, raising $71 million in just two months.
The project is raising funds to build a trading insights ecosystem to provide institutional-grade trading signals, meme coin picks, a trading insider group, staking, and trading rewards.
The aim is to provide everyday investors with the same opportunities as smart money whales.
In a video on the 99Bitcoins YouTube channel, analyst Jacob Bury recently speculated that $WEPE could see 100x gains.
However, the presale ends in nine days, so prospective investors should act quickly.
Another trending presale token is Solaxy. The project is building the world’s first Solana layer 2 blockchain to remove the network’s long-standing congestion issue with faster speeds, lower fees, and increased reliability.
It’ll use off-chain computation and transaction bundling technology to do this.
The team recently released an update revealing that they have successfully integrated the Solana Virtual Machine (SVM) into their roll-up. This is a significant technological feat that underlines its prowess.
Solaxy was recently dubbed Solana’s “scalability savior” by prominent trader Crypto Wire in a YouTube video.
The project has also been audited by Coinsult, which found its code to be safe and secure.
So far, Solaxy has raised $18.5 million in its token presale.
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