尽管推出了RFRV批次8，但Berachain的TVL跌至1B美元以下，因为Capital离开了协议

5月20日，Berachain批准了RFRV批次8，这是最新的治理提案，重点是扩大流动性功能。

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议RFRV批次8。该批次着重于扩展流动性功能，旨在改善令牌实用程序并促进用户参与度。最值得注意的是STG/Honey Vault，Stargate Dao的流动性为500万美元。该保险库允许Omnichain用户在基于基于的资产上赚取收益率，从而为交叉链奖励机会打开了大门。

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.

另一个补充是QIA购买和燃烧库。这使用协议排放来购买和销毁公开市场的QIA令牌，从而向代币持有人提供无源奖励，而无需积极积分或流动性提供。这种通缩设计是迄今为止贝拉切因最有趣的激励模型之一。

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

尽管有这些协议的改进，但市场的反应在很大程度上仍然存在。

TVL Drops Below $1B as Capital Leaves Berachain

当Capital离开Berachain时，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的总价值锁定（TVL）从4月初的峰值超过35亿美元，截至2025年5月20日的9亿美元。这种急剧下降表明，即使激活了新的保险库，也有很大的资金流出。

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.

一个多月以来，TVL下降了近75％，强调了当前激励计划可能不足以保留长期流动性或生态系统参与者的担忧。技术分析表明，至少在短期内，熊仍处于控制之中。

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.

从技术角度来看，Bera/USD自5月11日高点4.80美元的高级抛售以来，它一直锁定在下降渠道中。截至发稿时，两人的交易约为3.11美元，日内价格动作几乎没有上涨。

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小时图表上的相对强度指数（RSI）目前读取接近42，从5月17日达到的超售水平恢复。但是，篮板未能违反中性50水平，表明短期看跌的情绪仍然占主导地位。

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美元的电阻（降低渠道的上限）的明确拒绝表明，市场尚未定价在新保险库的影响下，或者只是缺乏转变情绪的流动性和信念。

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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.

跨多个时间表的指数式移动平均值（EMA）占据看跌，而贝拉仍低于20、50、100和200周期的平均值。 EMA-20售价接近3.18美元，而EMA-50和EMA-100的位置分别为3.37美元和3.49美元。长期的EMA-200售价为3.75美元仍然是公牛必须恢复的重大障碍，以确认趋势逆转。

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在未来几天未能超过3.20美元的电阻，那么价格可能会在2.85美元左右重新审视该频道的下边界。低于该水平的接近可能会加速损失2.60- $ 2.50的地区，该地区在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，如果代币设法提高了3.20美元并获得后续购买，则可以尝试进行短期集会，直到3.50美元，EMA-100目前居住。成功的近距离上方，将为$ 3.75- $ 3.80打开门，与EMA-200和关键阻力区保持一致。

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，市场似乎在阻力以下巩固，除非宏观或协议特定的催化剂驱动新的兴趣，否则价格行动可能会保持静音或看跌。