Flight to Quality (Berachain) as the Market Pulls Back Slightly

Crypto markets pulled back slightly early Friday before open. Berachain remains an exception as the token gave back some of its recent gains but remains up 1% overnight and just under 30% on the week.

TA shows that Berachain's price recently broke out from a short-term ascending parallel channel, which may be indicative of the start of a new rally. Speculators may believe that this technical movement has positioned BERA to potentially reach new all-time highs. In terms of tokenomics, the project’s PoL system incentivizes users to stake BERA tokens and provide liquidity, offering rewards of up to 18%. It’s likely that these incentives have led to a significant increase in the Total Value Locked (TVL) within the ecosystem, peaking at approximately $3.32 billion. This is probably one to watch both for active speculators and those just keeping track of market developments.