- BERA’s perpetual contract volume surpasses $4.8 billion within the first 24 hours
- It opened at $15.5, then dropped to roughly $8
- BERA has a negative fee of -2,400% on Binance and -2,890% on Bybit
Following its launch yesterday, the Berachain (BERA) token experienced substantial trading activity, with perpetual contract volume topping $4.8 billion within the first 24 hours.
However, price volatility soon followed as BERA opened at $15.5 but quickly dropped to around $8.
At the time of writing, its price stands at $7.55.
Such a steep decline suggests heavy sell-offs, liquidations, or profit-taking after the airdrop. It’s worth noting that a rapid price drop is typical for new tokens, especially those with airdrops since early recipients often sell immediately.
Unusual Negative Fees on Exchanges
What is interesting here is that BERA has unusual negative fee rates on Binance (-2,400%) and Bybit (-2,890%). These could indicate that traders are being paid to provide liquidity rather than being charged.
This usually happens when exchanges offer incentives to drive trading activity, potentially due to high market demand or aggressive competition am…
The post Berachain’s BERA Token Racks Up Over $4.8 Billion in 24-Hour Perpetual Contract Trading Volume appeared first on Coin Edition.
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