Can't help it, stocked up a bit at around $3.7

Bear Chain (Berachain) is truly a unique presence in the L1 landscape. Over the past two months, its TVL has remained stable above 2 billion, ranking seventh among public chains.

However, the token price has been quite dismal, possibly due to the negative impact of early VC tokens. After several rounds of peaks and corrections, it has started to decline steadily, failing to break the $9 high point twice.

Currently, the price is $3.7, with a previous low of $3.2, a circulating market cap of 410 million, and an FDV of 1.9 billion. It is really one of the few projects where you can find a token market cap lower than its on-chain TVL. Among the top ten, it is the only one with an FDV below 10 billion.

Not to mention the market cap lower than that of the $SUI ranked behind it, even $APT hasn't outperformed it. Among all public chains, Berachain should now offer the best value for money. It's time for the 'dog' to showcase its strength.

The market has been consolidating between $3.2 and $3.8 for a while, showing signs of halting the decline. There may be a slight pullback, and if you choose to build a position, it is advisable to leave room for additional purchases and enter in batches.