"Berachain's 14% Plunge: Hayes, Van de Poppe Weigh In on Sustainability Concerns"

Berachain's price has dropped by 14% in a single day, trading at around $5 after reaching a high of $15. This significant decline has raised concerns about the project's sustainability and future prospects. The coin's massive supply unlock has added further pressure to its price, with 2.6% of the total BERA supply set to unlock today.

BitMEX co-founder Arthur Hayes has weighed in on the price crash, stating that the asset's price was too high, rather than the project being of less utility. He advised shitcoin founders to work with market makers and exchange partners to open the market at lower prices. Hayes' comments have sparked ambiguity surrounding BERA price's future prospects.

Renowned market expert Michaël van de Poppe has also shared his thoughts on the matter, supporting Hayes' statements. He believes that listing at lower valuations is key to building up an organic chart. However, market watchers continue to question Berachain's long-term sustainability as a crypto project, with concerns that VC rounds in the coming years may be at significantly lower valuations.

Moonrock Capital CEO Simon has also posted on the matter, highlighting how the coin is down nearly 70% from its peak. He stated that airdrops are nothing but bullshit, sparking bearish concerns surrounding the asset's price despite its significant traction across the market.