Why are multiple hedge funds listing $ERA as a key holding for Q3?

In the third quarter of 2025, the Caldera ecological token $ERA became a favorite in hedge fund portfolios. The underlying logic can be analyzed from three aspects: technical value, market popularity, and capital layout:

1. The benefits of the modular Rollup track

Caldera, as a leading modular Rollup platform, addresses the pain points of high Gas fees and low throughput on Ethereum through one-click chain deployment tools and cross-chain interoperability technology. Its token $ERA serves as a core asset for Web3 infrastructure, combining governance, transaction fuel, and staking functions. A Goldman Sachs report shows that similar Layer2 project tokens averaged over 300% growth in bull markets, attracting institutional investors to position themselves early.

2. Capital endorsement and ecological expansion

Caldera has completed $24 million in financing, supported by top institutions like Sequoia Capital and Dragonfly. During Q3, its ecological Total Value Locked (TVL) exceeded $800 million, and it reached partnerships with Celestia, Arbitrum, etc., forming a dual-driven model of “technology + capital.” Hedge funds are betting on the ecological synergy through their holdings of $ERA.

3. Market sentiment and liquidity premium

After $ERA was listed on Binance in July, trading volume surged, and large holdings by market makers like GSR Markets boosted liquidity. Some funds adopted a “Chinese concept stock recovery” strategy, believing that after a pullback, $ERA's valuation still lags behind similar projects, presenting an opportunity for price recovery.

Risk warning: Attention should be paid to the impact of concentrated token unlocks (with the team holding 50%) and intensified competition in the Layer2 track.@Caldera Official #caldera