Market expectations are that the BERA token will trade in the range of $6 to $10 upon its launch.
Berachain (BERA), cryptocurrency being distributed by Binance. Source: Berachain.
Binance, the world's largest crypto broker, announced this Wednesday (5) the distribution and listing of the Berachain (BERA) project. In total, 10 million tokens will be distributed to the broker's users who previously used Simple Earn services.
BERA's listing on Binance is scheduled for this Friday (6), receiving 6 trading pairs.
Before that, in January, the broker had already carried out the airdrop of 500 million Animecoin (ANIME). According to data from CoinMarketCap, ANIME is down 77% compared to its launch. Although each project is different, this information can be useful for investors.
Binance announces airdrop of Berachain project
Berachain is a layer-one blockchain built on the concept of Proof of Liquidity, rewarding its users based on the liquidity they provide to the network. In other words, it is an alternative model to Bitcoin's Proof of Work and Ethereum's Proof of Stake, for example.
In total, Binance will be distributing 10 million BERA tokens to users who used Simple Earn products between January 22 and 26. The amount to be distributed represents 2% of the project’s total coin supply.
“Multiple snapshots will be taken of user balances and total pool balances at any given time each hour to calculate the average hourly balances of users across Simple Earn products (Flexible and/or Locked),” the broker explained about its calculation method.
“Binance will use historical snapshots of user balances at random periods after this announcement to calculate rewards.”
Binance reveals airdrop and listing of Berachain (BERA) project. Source: X.
Eligible users will receive the tokens in their Binance accounts up to one hour before the official listing, which will take place this Friday (6) at 10 am Brasília time. The pairs to be added are BERA/BTC, BERA/USDT, BERA/USDC, BERA/BNB, BERA/FDUSDC and BERA/TRY.
Market expects token to trade in the range of 6 to 10 dollars
Since BERA is not yet listed on any exchange, some users are trying to guess what the market value of the project will be after its launch. According to bets on Polymarket, the cryptocurrency is expected to reach a market cap of between 3 and 5 billion dollars.
Users place bets on the market value of Berachain (BERA) at its launch. Source: Polymarket.
In conversion, this means that each token could trade in the range of $6 to $10 at launch, according to betting odds.
As this is the 7th ‘HOLDer airdrop’ made by Binance, investors can also analyze market behavior in past distributions to assess which is the best strategy to take.
However, it is worth noting that every project is different and demand can vary greatly from one to another.