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THE GOOD

Berachain launched its highly anticipated mainnet, introducing its native token BERA to the market. To reward its community and early supporters, Berachain distributed 79 million BERA tokens, representing 15.75% of the total token supply.

In the fast-paced world of cryptocurrency, crypto airdrops have become a lucrative opportunity for both seasoned traders and newcomers looking to earn free tokens. Following the massive success of Hyperliquid’s billion-dollar airdrop, Berachain has now positioned itself as the latest major win for airdrop farmers. With its recent mainnet launch and an impressive $1.1 billion token distribution, Berachain has made waves in the crypto airdrops scene.

Berachain Airdrop Details: A Game-Changer in Crypto Airdrops

On February 6, 2025, Berachain launched its highly anticipated mainnet, introducing its native token BERA to the market. To reward its community and early supporters, Berachain distributed 79 million BERA tokens, representing 15.75% of the total token supply. The airdrop targeted community members, liquidity providers, and decentralized applications that contributed to the ecosystem’s growth.

THE BAD

Bears strike Berachain

Berachain, the $3.2 billion bear-themed blockchain, isn’t living up to the hype.

Insider selling and a high initial valuation have weighed on the project since its February 6 launch.

Berachain’s native token, BERA, opened trading at around $13. It now trades for around $5 — a more than 60% drop.

Onchain records first identified by pseudonymous DeFi researcher Ericonomic show a wallet address linked to one of Berachain’s pseudonymous co-founders sold almost $1 million worth of BERA tokens received in the Berachain airdrop.

“He might be testing things in production or just adding liquidity, but even if this is the case, this should be addressed and explained immediately,” Ericonomic said.

The co-founder in question, Itsdevbear, who also acts as the project’s chief technical officer, did not respond to a request for comment.

Several investors, including Arthur Hayes of Maelstrom, say that the BERA token’s high initial valuation is the main reason for the asset’s declining value.

Investors have previously criticised crypto projects launching tokens at high valuations.

“Investors don’t believe there is upside potential if a project launches with an 11 figure valuation,” Marc Weinstein, a partner at crypto investment firm Mechanism Capital, previously told DL News.

THE UGLY

Berachain Co-Founder Accused of Dumping Tokens and Receiving Large Airdrop

Just days after its mainnet launch and airdrop, the Berachain community is concerned about the project’s visible favoritism toward private investors. There are also allegations about the network’s lead developer swapping large amounts of airdropped BERA tokens.

Despite this, however, Berachain does have a chance to rebuild public trust. If its Proof of Liquidity system gets implemented and becomes operational, it would be a truly novel project.

Berachain, the new layer-1 blockchain network, has created notable engagement in the crypto space due to its airdrop and mainnet launch last week. Although the firm has a clear vision to become a novel network with its unique ‘Proof of Liquidity’ mechanism, its marketing and hype are evocative of meme coin culture.

Its pre-launch liquidity platform attracted $2.3 billion in deposits. Berachain also started one of the biggest airdrops this year with its mainnet launch on February 6. Its BERA token also received Binance listing immediately after TGE, along with other major exchanges.

However, trouble has been brewing. When the airdrop happened, users complained that testnet farmers got minuscule BERA token rewards.

Berachain’s blockchain is designed as a self-contained system of three tokens: BERA, BGT, and HONEY, which serve different functions. However, by staking and burning different tokens, users can exploit the system.