TLDR
- BERA has surged 11% in the past 24 hours, ranking among top market gainers
- Daily transactions increased from 1.3 million to 2.2 million since February 23
- BERA is trading in a bullish symmetrical triangle pattern with potential 95% rally to $15.50
- Sky (formerly MakerDAO) announced integration with Berachain through Polaris
- Open Interest has risen 14.17% with strong buying pressure in derivatives markets
BERA, the native token of Berachain, has been showing strong upward momentum over the past 24 hours, posting an 11% gain and ranking among the top performers in the crypto market. This price action comes amid increased transaction activity on the blockchain and a major partnership announcement with Sky, formerly known as MakerDAO.
BERA Price
Trading volume for BERA has reached $500 million during this surge, showing healthy market participation. This rise in volume often indicates growing investor interest and can be a sign of a sustained price movement.
On-chain metrics from Artemis show that daily transactions on Berachain have jumped from 1.3 million on February 23 to 2.2 million at the time of writing. This growth in blockchain activity suggests users are finding value in the Berachain ecosystem and are actively engaging with its services.
The number of daily active addresses has also climbed to a new high of 29,600, the highest since February 21 when it was above 46,000. More active addresses point to broader adoption and a growing user base, which is often a positive indicator for a blockchain project’s health.
When looking at the technical chart, BERA is trading within a bullish symmetrical triangle pattern on the 4-hour timeframe. This pattern often precedes further upward price movement. At present, BERA is testing the resistance level of this pattern.
Should BERA break through this resistance, technical analysts predict two potential price targets: a short-term move to $9.80 and a longer-term surge to $15.50. The latter would represent a 95.26% increase from current levels.
Even if the breakout attempt fails in the short term, BERA could continue to consolidate within the triangle pattern. This would allow market participants to build positions at lower prices ahead of a potential rally.
The derivatives market for BERA also shows bullish signals. Open Interest, which measures the total amount of outstanding derivative contracts, has increased by 14.17% in the past 24 hours. This represents an additional $22.69 million in liquidity, bringing the total from $94.26 million to $116.95 million.
The Long-to-Short ratio, which compares buying versus selling volume in derivatives markets, remains above 1. This indicates stronger buying activity than selling, reflecting positive sentiment among traders placing directional bets on BERA’s future price.
Sky Connection
Sky (formerly MakerDAO) announced on February 27 that it has connected to Berachain through its “agent framework.” This integration involves deploying Polaris, one of Sky’s newest ecosystem products, onto the Berachain network.
The partnership aims to combine Sky’s robust liquidity platform—backed by over $7.5 billion in USDS stablecoin—with Berachain’s architecture. Berachain uses a Proof of Liquidity (PoL) consensus mechanism that rewards users for providing liquidity while keeping their assets usable in DeFi protocols.
Sky founder Rune Christensen commented on social media:
“This is a great example of how fast it’s possible to move with the Sky Agent Framework when you have founders and capital—and it will be a good showcase of how much scale Sky can bring to the table to new and growing ecosystems.”
The Berachain Foundation stated that “Polaris taps into $7.5 billion of Sky ecosystem’s USDS to deploy capital into the Berachain ecosystem, combining one of DeFi’s most robust liquidity engines with Proof of Liquidity.”
The initial phase of this integration focuses on expanding USDS stablecoins cross-chain. This means USDS holders could engage with Berachain’s DeFi offerings, including lending, trading, and yield farming.
Sky operates primarily on the Ethereum blockchain and gained prominence by creating the DAI stablecoin (now USDS) in 2017. The Sky ecosystem is built around the USDS stablecoin and the SKY governance token, which are the successors to MakerDAO’s DAI and MKR tokens.
