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Simon Chandler
Simon Chandler
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The price of Berachain (BERA) has risen by as much as 71% overnight, as the new layer-one network launches its mainnet and lists its native token on several major exchanges.
Berachain allocated 15.75% of its 500 million BERA supply to its airdrop, with various contributors, community members and key partners eligible to receive the new token.
However, BERA has since dropped after spiking to a current record high of $14.83, with its fall to $7.56 representing a drop of 48.7%.
But with the ‘proof-of-liquidity’ Berachain aiming to offer a more decentralized and efficient form of staking, its fundamentals make it one of the best new tokens to buy now.
Berachain’s BERA Airdrop Surges 71% – Can it Overtake Solana?
Berachain has launched with some serious momentum, with Brevan Howard Digital and Framework Ventures leading a $100 million Series B funding round for the network in April.
Its distinguishing feature is its proof-of-liquidity consensus mechanism, which aims to align security and liquidity within its network.
It involves directing greater rewards towards apps and validators that provide more in-demand services, thereby ensuring that growth remains in sync with utility.
This basic premise has helped Berachain to generate significant hype, as evidenced by its listing yesterday on various exchanges, including Coinbase, OKX, Binance, Kraken and Bitget.
Its airdrop is also underway, with eligible participants needing to use one of several Ethereum-compatible wallets, including MetaMask and OKX Wallet.
Despite the excitement for the airdrop, it seems that the drop has led to many recipients dumping their BERA tokens already.
Its chart today shows a clear decline since yesterday’s peaks, which can be normal for newly listed tokens.
While the chart above does look disconcerting at first glance, one positive note is that BERA is actually up by 8% since reaching its current low some eight hours ago.
The market’s current mood – which is still reacting to the shocks of a possible trader war between the US and other nations – also hasn’t helped BERA to have a more sustained opening rally.
Yet, given the backing behind it and its novel fundamentals, it has every chance of becoming the next big layer-one network, even if it may not overtake Solana anytime soon.
As such, BERA could return to $10 in the next couple of weeks before setting a new record high by H2.
Presale Tokens Could Bring the Biggest Returns
As promising as BERA looks at the moment, many traders may be disappointed about missing out on its airdrop.
Yet there are options for investors who want to enter a trade at the very beginning, before any potential rallies.
One option is to look at presale tokens, which can often generate enough momentum to have a big surge when they list for the first time.
And one of the most exciting new presales right now is Solaxy (SOLX), which has already raised a very impressive $18.5 million in its token offering.
Investors are showing strong interest in Solaxy because it will launch Solana’s first-ever layer-two network, helping users to avoid common issues such as failed transactions, network congestion and outages.
SOLX will be the native token of Solaxy, and will serve to pay for the network’s low transaction fees. This gives it significant utility, and as the platform gains traction, demand for SOLX could grow substantially.
Additionally, holders will have the opportunity to stake their tokens, further increasing demand over time.
The presale will end in the next few weeks, but latecomers can still join it by visiting Solaxy’s website, where SOLX is selling at $0.001628.
This price will continue to rise before the sale ends, so those interested in Solaxy should act quickly to secure the best possible returns.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
