儘管推出了RFRV批次8，但Berachain的TVL跌至1B美元以下，因為Capital離開了協議

5月20日，Berachain批准了RFRV批次8，這是最新的治理提案，重點是擴大流動性功能。

May 20 saw Berachain approve RFRV Batch 8, its newest governance proposal. This batch focused on expanding Proof-of-Liquidity functionality with multiple vaults designed to improve token utility and boost user engagement. Among the most notable is the STG/HONEY vault, seeded with $5 million in liquidity by Stargate DAO. This vault allows omnichain users to earn yields on OFT-based assets, opening the door to crosschain reward opportunities.

5月20日，Berachain批准了其最新的治理建議RFRV批次8。該批次著重於擴展流動性功能，旨在改善令牌實用程序並促進用戶參與度。最值得注意的是STG/Honey Vault，Stargate Dao的流動性為500萬美元。該保險庫允許Omnichain用戶在基於基於的資產上賺取收益率，從而為交叉鏈獎勵機會打開了大門。

Another addition is the QIA buy-and-burn vault. This uses protocol emissions to purchase and destroy QIA tokens from the open market, offering passive rewards to tokenholders without requiring active staking or liquidity provisioning. This deflationary design is one of Berachain’s most interesting incentive models to date.

另一個補充是QIA購買和燃燒庫。這使用協議排放來購買和銷毀公開市場的QIA令牌，從而向代幣持有人提供無源獎勵，而無需積極積分或流動性提供。這種通縮設計是迄今為止貝拉切因最有趣的激勵模型之一。

Despite these protocol improvements, the market’s response has been largely muted.

儘管有這些協議的改進，但市場的反應在很大程度上仍然存在。

TVL Drops Below $1B as Capital Leaves Berachain

當Capital離開Berachain時，TVL跌至$ 1B以下

Berachain’s total value locked (TVL) has plummeted from an early April peak of over $3.5 billion to around $900 million as of May 20, 2025. This sharp decline suggests a significant capital outflow, even as new vaults are activated.

Berachain的總價值鎖定（TVL）從4月初的峰值超過35億美元，截至2025年5月20日的9億美元。這種急劇下降表明，即使激活了新的保險庫，也有很大的資金流出。

Over a month saw nearly a 75% drop in TVL, highlighting concerns that current incentive programs may not be enough to retain long-term liquidity or ecosystem participants. Technical analysis suggests the bears are still in control, at least in the short term.

一個多月以來，TVL下降了近75％，強調了當前激勵計劃可能不足以保留長期流動性或生態系統參與者的擔憂。技術分析表明，至少在短期內，熊仍處於控制之中。

From a technical perspective, BERA/USD has remained locked within a descending channel since its sharp sell-off from the May 11 high of $4.80. As of press time, the pair is trading around $3.11, with intraday price action showing little momentum to the upside.

從技術角度來看，Bera/USD自5月11日高點4.80美元的高級拋售以來，它一直鎖定在下降渠道中。截至發稿時，兩人的交易約為3.11美元，日內價格動作幾乎沒有上漲。

The relative strength index (RSI) on the 4-hour chart currently reads near 42, recovering from oversold levels reached on May 17. However, the rebound has failed to breach the neutral 50 level, indicating that bearish sentiment still dominates in the short term.

4小時圖表上的相對強度指數（RSI）目前讀取接近42，從5月17日達到的超售水平恢復。但是，籃板未能違反中性50水平，表明短期看跌的情緒仍然占主導地位。

A clear rejection from the $3.20 resistance—near the upper boundary of the descending channel—suggests the market has not yet priced in the impact of the new vaults or has simply lacked the liquidity and conviction to shift sentiment.

3.20美元的電阻（降低渠道的上限）的明確拒絕表明，市場尚未定價在新保險庫的影響下，或者只是缺乏轉變情緒的流動性和信念。

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Exponential Moving Averages (EMAs) across multiple timeframes are stacked bearishly, with BERA still trading below the 20, 50, 100, and 200-period averages. The EMA-20 sits near $3.18, while the EMA-50 and EMA-100 are positioned at $3.37 and $3.49, respectively. The long-term EMA-200 at $3.75 remains a significant hurdle that bulls must reclaim to confirm a trend reversal.

跨多個時間表的指數式移動平均值（EMA）佔據看跌，而貝拉仍低於20、50、100和200週期的平均值。 EMA-20售價接近3.18美元，而EMA-50和EMA-100的位置分別為3.37美元和3.49美元。長期的EMA-200售價為3.75美元仍然是公牛必須恢復的重大障礙，以確認趨勢逆轉。

If BERA fails to break above the $3.20 resistance in the coming days, the price could revisit the channel’s lower boundary around $2.85. A close below that level could accelerate losses toward the $2.60-$2.50 region, which acted as previous support in early May.

如果Bera在未來幾天未能超過3.20美元的電阻，那麼價格可能會在2.85美元左右重新審視該頻道的下邊界。低於該水平的接近可能會加速損失2.60- $ 2.50的地區，該地區在5月初以前的支持。

However, if the token manages to push above $3.20 and gains follow-through buying, it could attempt a short-term rally toward $3.50, where the EMA-100 currently resides. A successful close above that would open the door to $3.75-$3.80, aligning with the EMA-200 and a critical resistance zone.

但是，如果代幣設法提高了3.20美元並獲得後續購買，則可以嘗試進行短期集會，直到3.50美元，EMA-100目前居住。成功的近距離上方，將為$ 3.75- $ 3.80打開門，與EMA-200和關鍵阻力區保持一致。

For now, the market appears to be consolidating below resistance, and unless macro or protocol-specific catalysts drive fresh interest, price action is likely to remain muted or bearish.

目前，市場似乎在阻力以下鞏固，除非宏觀或協議特定的催化劑驅動新的興趣，否則價格行動可能會保持靜音或看跌。