Berarakhain Price continued strong sales, reaching its lowest level ever this week with a decrease in the amount of Stablecoins in the network. The BERA code fell to $ 2.95 on Wednesday, a decrease of 70 % of its highest level this year. This article explains the reason for the low price of BERA and whether it is safe to buy DIP.
Why did the price of Pirachen decrease?
The continuous collapse of the BERA price scanned $ 620 million, as the maximum market decreased to $ 344 million from $ 963 million from AFTE Airlop.
There are some reasons behind her crash. First, berachain is a very encrypted currency due to the distinctive symbol. According to Coinmarketcap, there are 119.3 million BERA symbols for a total of 501.8 million icons.
Millions of symbols will start online arrival on the market in February next year. It will be the first opening of 63.75 million BERA symbols of more than $ 184 million. after that. The network will make 13.28 million icons, at a value of $ 38.4 million today, every month.
Usually, the distinctive symbol operations are declined because it leads to high width, which is risky when there is no demand.
Secondly, there are signs that the Berathene Protocol does not work well. One of the best numbers that show this is the maximum Stablecoin market. according to Davi LamaThere is Stablecoins worth $ 356 million in the network, a decrease of $ 1.34 billion a few months ago. This is a sign that the network activity is struggling to gain traction.
More ecosystem data shows that the amount of closed assets on the berachain protocol has recently decreased sharply. There are 1.75 billion BERA symbols on the network, a decrease from the highest level from 2.04 billion.
Read more: Berachain faces the liquidity crisis with the growth of external flows: What is the next for the price of bera?
The largest players in the Berasshain ecosystem, such as Kodiak and Infrared Finance, threw the assets in the last 30 days. On the other hand, Veda, Concrete, Birdorrow and Satlay’s origins have grown with double numbers in the same period.
Price Peruchane fell after opening $ 2.5 billion on Tuesday. Boyco is a project that the developers hoped to give DAPS a way to secure deep liquidity before the first day of the launch of Mainnet. This feature attracted more than $ 2.5 billion across markets like ETH and WBTC.
the Boyko locks It was opened on Tuesday, allowing users to receive Bera and Silididal Servide receipts (LP).
Prara prices analysis
The daily graph shows that the price of the bera was in a strong bear market in the past few months. It reached its peak at $ 9.6 in March and then decreased to $ 3 today.
The currency fell to less than the important support level at $ 4.90, its lowest level in February. It remains less than all the moving averages, while the average trend index (ADX) has jumped, indicating that the declining direction is strong. All the oscillators such as the RSI and Stockicc Index indicated down.
Therefore, with a decrease in the maximum Stablecoin market, there is a possibility that the price of the BERA will continue to decrease, with the next point for watching $ 1.
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