Basri Caneri 
Layer-1 blockchain Berachain has surpassed $3.26 billion in total locked assets (TVL), making it the sixth largest network in the decentralized finance (DeFi) ecosystem. Having overtaken Base and Arbitrum, Berachain is attracting attention with its rapidly rising TVL value.
Berachain Gains Strength in the DeFi Market
According to February 24 data from DeFi data tracking platform DefiLlama, Berachain’s TVL surpassed $3.26 billion, surpassing Arbitrum’s $2.9 billion and Base’s $3.24 billion.
With this growth, Berachain now holds 2.98% of the total locked assets in the DeFi ecosystem, making it the sixth largest blockchain.
Other important data on the rise of Berachain:
- Berachain (BERA) token price: $6.67
- Market capitalization: 717 million dollars
- Fully diluted value (FDV): $3.33 billion
Which Projects Stand Out in the Berachain Ecosystem?
The DeFi protocols that played a key role in Berachain’s TVL growth are listed below:
- Infrared Finance (Liquidity staking protocol) – $1.52 billion
- Kodiak (Decentralized exchange – DEX) – $1.12 billion
- Concrete (Yield farming protocol) – $800 million
These projects grow Berachain’s ecosystem, attracting more liquidity to the platform. Networks with a high TVL value are able to lock more capital and generate more returns in the DeFi ecosystem.
Could Berachain Be a Competitor to Ethereum and Solana?
Vance Spencer, co-founder of Framework Ventures, said in an interview last September that Berachain could be a next-generation Ethereum competitor.
Berachain’s biggest difference is that it uses the proof-of-liquidity consensus mechanism, in which users who stake BERA tokens are forced to redirect the liquidity they obtain into the ecosystem. Thus, all fees remain within the network and the sustainability of the ecosystem increases.
Also, on February 6, Bera Foundation distributed 80 million BERA tokens to eligible users. This airdrop, worth $632 million, was recorded as one of the largest airdrops in crypto history.
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