Berachain Price Down 40% MTD, Is The Ghostchain Thesis True?

Key Insights:

• Berachain price continues to plunge despite a broader crypto market rally.
• Targeted network-focused campaigns may help revive the chain’s adoption cycle amid growing competition.
• The purported altcoin season may set the coin on a rare bullish path moving forward.

Berachain price has been witnessing a sharp decline as fresh concerns over its future rise. This protocol’s current development marks a rough patch many did not see coming.

In the past month alone, the Layer 1 chain has lost 40% in value, with users and capital fleeing.

Once a rising star after its lively testnet run, the chain is now caught in what some call the “ghostchain” cycle.

The Berachain Price and Market Outlook Is Worrying

The price of Berachain’s native token, BERA, has dropped 82% from its all-time high. As of June 8, 2025, it trades at just $2.37.

Notably, the market cap is pegged at $283 million, and the fully diluted valuation is $1.18 billion.

These figures are a sharp decline for a project that once stirred so much excitement in the crypto ecosystem.

According to historical market data, the total value locked (TVL) in the chain stood at $1.6 billion just before its mainnet launch in January.

That figure has dropped by 70%, barely over $1 billion. The token saw net outflows of $1.1 billion in the last three months, signaling that investors are pulling out with no plan to return soon.

The Proof of Liquidity (PoL) model was supposed to tie the chain’s security to liquidity amid a historical funding push.

Validators must stake between 250,000 and 10 million $BERA to keep things running.

However, as the price drops, the incentive to secure the network weakens, leaving the entire system at risk.

Network Stats That Point to Fading Trust in Berachain

The numbers around Berachain now tell a different story than the one it hoped to write. Its chain revenue is only $500, suggesting almost no usage.

According to The Defiant, the network lost 50% of its active users by April, and this trend appears to have continued.

CoinMarketCap lists Berachain’s 24-hour trading volume at $38.12 million, down 5.17% in the last 24 hours.

It still shows a 1.15% gain in the past day, in line with the general altcoin market breakout.

Many early supporters, often called “power users,” have left. Most are now looking for the next big airdrop opportunity.

The community that once fueled hype around the testnet has gone quiet, and the Bera Baddies campaign has not helped much either.

Despite being bold and creative, it has done little to shift real market activity or attract new users.

Can Berachain Price Find Its Way Back as Altcoins Wake Up?

There is still a slight chance for Berachain price to rebound if the altcoin market gains momentum.

Its EVM compatibility may still appeal to developers. Some planned events, like “Hot Bera Summer,” could inject new energy if executed well.

Partnerships with Union and BeraLand also offer glimmers of hope.

However, the loss of $1.1 billion in net outflows will not be easy to recover from. The buzz is now elsewhere.

In short, Berachain needs more than events and branding. It must fix user retention and boost real chain activity. Without that, the ghostchain tag may stick for good.

Overall, the clamor around the altcoin season may have a significant rub-off on Berachain overall.

Since Bitcoin has jumped above the $106,000 mark after weeks of consolidation, altcoins like Berachain may benefit from this hype to stage a unique recovery.