Berachain Surpasses $3.26B TVL, Becomes Sixth-Largest DeFi Blockchain

Layer-1 blockchain Berachain has achieved a significant milestone, with its total value locked (TVL) surpassing $3.26 billion, according to data from DeFi analytics platform DefiLlama.

The accomplishment places Berachain as the sixth-largest blockchain network in decentralized finance (DeFi), ahead of notable competitors like Arbitrum and Base.

As of February 24, Berachain’s TVL edged past Arbitrum’s $2.9 billion and Base’s $3.24 billion.

At the time of writing, Berachain’s native token (BERA) is trading at $6.75, with a market capitalization of $715 million and a fully diluted valuation (FDV) of $3.3 billion.

Key Protocols Fuel Berachain’s Rapid Growth in DeFi

Berachain’s recent growth has been driven by several key protocols.

Liquid staking platform Infrared Finance leads the network with a TVL of $1.52 billion, followed by decentralized exchange Kodiak at $1.12 billion and yield farming protocol Concrete with nearly $800 million in locked assets.

Despite Berachain’s impressive rise, Ethereum remains the dominant player in the DeFi space, boasting a TVL of $58 billion, which accounts for 53.4% of the total DeFi market.

Solana holds the second position with $8 billion in locked assets, representing a 7.45% market share.

Breaking: @Berachain has officially surpassed @Base and become the 6th highest chain with a TVL of $3.26B.

And Bera isn’t even a month old yet. It's time to bridge, anon pic.twitter.com/lWIoyH1RWr

— Berachain Today 🐻⛓️ (@BerachainToday) February 24, 2025

Berachain’s momentum has been bolstered by strong investor backing.

In September, Vance Spencer, co-founder of Framework Ventures—which co-led Berachain’s $100 million Series B funding round—described BERA as a potential major competitor to Ethereum.

Spencer highlighted the network’s unique proof-of-liquidity consensus mechanism, which requires users to stake BERA and direct liquidity into core DeFi protocols, ensuring that transaction fees remain within the ecosystem.

Adding to the excitement, the Bera Foundation conducted a substantial airdrop on February 6, distributing 80 million BERA tokens to eligible users.

Valued at approximately $632 million, the event ranks among the largest token distributions in cryptocurrency history.

TVL, which measures the total value of crypto assets locked within a blockchain’s DeFi protocols, is a critical indicator of network health and user engagement.

An increase in TVL typically signals improved liquidity, enhanced protocol usability, and growing investor confidence.

Higher TVL figures also often translate into greater yields for participants in the ecosystem, while lower values can indicate limited capital availability and reduced returns.

DeFi TVL Reaches $60 Billion

Earlier this month, the TVL deposited on DeFi-focused blockchains reached $60 billion, marking the highest level since August 2022.

DeFi deposits surged from $17.3 billion in January 2021 to nearly $178 billion in December of the same year, only to drop below $40 billion in December 2022, as per data from DeFi Llama.

Daily trading volumes on DeFi protocols have also surged, reaching as high as $7.3 billion in early January, the highest since March 2023.

The market capitalization of DeFi-linked crypto tokens has risen from $72 billion to $77 billion since the beginning of December.