Berachain's price faces severe heat against the backdrop of broader market volatility, now showcasing an alarming downward spiral and losing 14% in a day.
Berachain (BERA) price displayed a concerning 14% intraday loss on Friday, showcasing a sharp decline from its recent highs. The token slid to the $5 level after trading as high as $15 earlier this week.
However, the asset’s price crash has brought about a wave of discussions regarding its future prospects, especially in the context of the project’s TGE (token generation event).
In a recent statement, BitMEX co-founder Arthur Hayes advised shitcoin founders to work with their market makers and exchange partners and open the market at lower prices.
According to Hayes, the crash might be attributed to the asset’s price being too high rather than the project being of less utility. These statements sparked discussions concerning the ambiguity surrounding BERA price’s future prospects.
Top market expert Michaël van de Poppe also joined the conversation, expressing support for Hayes’ statements on X. Michaël believes that listing at lower valuations is crucial for building up an organic chart. He adds that this ultimately leads to VC rounds at significant lower valuations in the coming years.
Meanwhile, another aspect putting pressure on the coin’s price is the unlocking of 2.6% of the total BERA supply today, as per the ‘Orderly Network’ DEX on X. The increased supply pressure might be exacerbating the token’s current price crash.
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