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Berachain – EVM-identical Layer 1 blockchain – has reached a new milestone this week. Within 20 days of its Mainnet launch, Berachain has surpassed major blockchains such as SUI, Avalanche, and Arbitrum, in Total Value Locked (TVL), after hitting $3.27 billion before retreating mildly. Berachain secured the sixth position in DeFi TVL following the new feat before slipping the seventh spot right behind Base. Berachain’s Rapid Growth And Expanding Ecosystem The latest figure outpaced SUI’s $1.4 billion and AVAX’s $1.23 billion TVL. Despite most native protocols yet to launch – suggesting potential for further growth – Berachain currently holds a $700 million circulating market cap. It ranks among the top 100 on CoinMarketCap and is trading at $6.7 at the time of writing. Meanwhile, DeFiLlama’s data revealed that Berachain topped other chains in terms of net bridge inflows over the past seven days. According to market experts, this rapid ascent by Berachain presents an asymmetric bet with significant upside potential. Berachain’s expansion has been fueled by major protocols. For instance, liquid staking platform Infrared Finance stands at the forefront, holding $1.52 billion in TVL. Decentralized exchange Kodiak followed closely with $1.1 billion, while yield farming protocol Concrete contributed nearly $1.11 billion in locked assets. BERA Airdrop Controversy The Bera Foundation distributed released BERA airdrops to community members after the successful launch of the Proof-of-Liquidity Layer 1 network on February 6. This was heralded as one of the biggest airdrops ever in the industry, covering 15.75% of its 500 million token supply. But the airdrop sparked community backlash over perceived unfair allocations. Despite long-term engagement, the testnet users received just 1.65%, while Bong Bears NFT holders got 6.9%, which prompted criticism on social platforms. The Berachain Foundation defended the distribution and cited targeting challenges. Berachain emerged as one of the most talked-about crypto projects at Token 2049. In April, it raised $100 million in a Series B round co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures. The fund also witnessed backing from Polychain Capital, Hack VC, and Tribe Capital. In a statement to Bloomberg, Berachain co-founder “Smokey The Bera” had said, “We see this raise as a major validation of our approach to building a blockchain that’s built on feedback from real users and developers, and driving value to those groups who are actually contributing to the network’s growth.” The company said the new funding would strengthen its presence in Hong Kong, Singapore, Southeast Asia, Latin America, and Africa. The post Berachain Surpasses Major Blockchains in TVL Within 20 Days of Mainnet Launch appeared first on CryptoPotato.

The Virtual Assets Regulatory Authority (VARA) of Dubai has issued an official alert regarding the company MKAN Coin DMCC. In a statement on the official VARA website, they cautioned that MKAN Coin has been operating in the UAE without the right regulatory approval. The company has been advertising virtual asset services as available in Dubai, even though it doesn’t have the licenses it needs. VARA made it clear that MKAN Coin is not allowed to provide virtual asset services in or from Dubai. This means they are breaking VARA rules. The platform’s services are considered illegal in Dubai, which puts users who use it at serious risk. These risks cover possible financial losses, legal trouble, and breaking criminal laws by dealing with an unregulated platform. Related: Dubai’s VARA: Striking the Right Balance in Crypto Regulation Under Dubai Law No. (4) of 2022 and Cabinet Resolution No. 111/2022, all virtual asset service providers must be licensed to legally operate in the Emirate. Because MKAN Coin doesn’t meet these regulatory needs, VARA has ordered the company to stop all its activities and has charged them a fine. To safeguard users, VARA has suspended access to the MKAN Coin website and advised consumers and investors to avoid engaging with the platform. VARA encourages the public to report any unlicensed virtual asset activities to help protect the integrity of the market. As the authority in charge of regulating virtual asset activities in Dubai, VARA is still focused on protecting consumers and making sure there’s a secure investment environment. In addition, in December 2024, VARA issued warnings about seven crypto entities falsely claiming to be registered and licensed in Dubai. These entities include Koto Crypto, Crypto Force, Finchain, BTC Bay, and XT.com. According to the notice, any virtual asset-related activities on these platforms do not follow VARA rules. Users who use unlicensed platforms face significant financial risks and could run into legal problems. Related: Dubai’s VARA Issues New Crypto Marketing Guidelines, Mandates Risk Disclaimers On February 13, 2025, VARA issued an alert about the high risks of investing in meme coins, labeling them as highly speculative, volatile, and often manipulated. It warned that these assets lack intrinsic value and are influenced by social media trends, posing a risk of significant financial loss. VARA stressed that all virtual assets in Dubai must follow local regulations, and unauthorized activities could lead to enforcement actions. Consumers are being told to be careful, as access to meme coin platforms might be limited, and to protect their financial security. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Dogecoin (DOGE) is on the brink of a significant price movement as it approaches the completion of its fourth falling wedge pattern, a historically bullish technical formation. Traders and analysts are closely watching this development, anticipating another explosive rally similar to previous breakouts. #Dogecoin nears completion of the forth falling wedge 🔥$Doge has performed exceptionally well after the breakouts of falling wedges:– The 1st falling wedge breakout resulted in a +88% gain.– The 2nd falling wedge breakout resulted in a +208% gain.– The 3rd falling wedge… pic.twitter.com/0BnomlpF9w — Trader Tardigrade (@TATrader_Alan) February 24, 2025 Dogecoin’s price history reveals a strong pattern of gains following falling wedge breakouts. The first breakout saw an impressive 88% surge, setting the stage for continued upward momentum. The second falling wedge led to a staggering 208% increase, further solidifying DOGE’s reputation as a volatile yet lucrative asset. The third and most substantial breakout resulted in a massive 445% rally, catapulting Dogecoin to new heights. These patterns highlight the cryptocurrency’s tendency to experience significant price pumps after breaking out of falling wedges. According to the latest technical analysis, Dogecoin is nearing the end of its fourth falling wedge, as depicted in the accompanying chart. Historically, breakouts from such patterns have triggered substantial price gains, raising expectations of another explosive move. Analysts speculate that if DOGE follows its previous trajectory, the next breakout could lead to a major rally. This anticipation is fueled by the consistent bullish performance observed in past falling wedge formations. The breakout could serve as a catalyst for renewed interest and trading volume, potentially driving Dogecoin to new price levels. Sentiment, Key Levels, Bullish Dogecoin Outlook The Dogecoin community is buzzing with excitement as traders prepare for the potential breakout. Social media platforms are abuzz with speculation about how high DOGE might go, with some optimistic predictions pointing to new all-time highs. The anticipation is further fueled by historical precedents, which show Dogecoin’s propensity for explosive rallies following falling wedge breakouts. This pattern of rapid price appreciation has attracted both retail and institutional investors, adding to the growing bullish sentiment. Technical analysts are closely monitoring key resistance and support levels as Dogecoin approaches the breakout point. The completion of the fourth falling wedge is marked by a tightening range, suggesting an imminent breakout. If DOGE breaks above the resistance level, traders expect a sharp upward movement, potentially mirroring the gains from previous breakouts. Conversely, failure to break resistance could lead to a period of consolidation before the next significant move. As Dogecoin nears the completion of its fourth falling wedge, market sentiment remains bullish, with traders anticipating another substantial rally. Historical data supports the likelihood of a breakout, given the impressive gains seen after previous falling wedge formations. With the crypto community eagerly awaiting the next move, Dogecoin’s price action in the coming days could provide a decisive indication of its short-term direction. Investors are advised to watch key technical levels and stay informed about market developments as DOGE prepares for what could be its next explosive run.

Infini, a well-known DeFi platform, has recently experienced a significant exploit. As per data from Cyvers Alerts, a blockchain security platform, Infini has gone through a $USDC breach. The attack has incurred $49M as the attacker abused retained admin privileges. The blockchain security platform took to social media to disclose this incident. 🚨ALERT🚨Today, @0xinfini suffered a $49M $USDC exploit due to an attacker abusing retained administrative privileges.The attacker, operating from 0xc49b5e5b9da66b9126c1a62e9761e6b2147de3e1, had initially developed the contract as part of the Infini project. However, after… pic.twitter.com/olguOyNCJr — 🚨 Cyvers Alerts 🚨 (@CyversAlerts) February 24, 2025 Attacker Exploits Unrevoked Admin Privileges to Draine $49M $USDC from Infini Cyvers Alerts associates the exploit of Infini with the abuse of reserved admin privileges by the attacker. Particularly, the attacker exploited the respective privileges in the smart contract of Infini. The blockchain security firm revealed “0xc49b5e5b9da66b9126c1a62e9761e6b2147de3e1” as the attacker’s wallet address. The attacker had reportedly been engaged in the establishment of the smart contract of Infini. Following that, the smart contract was delivered to Infini’s project team. Nonetheless, the developer security had reserved administrative access. The respective loophole permitted the attacker to exploit the smart contract. Hence, a considerable time after the launch of the project, the attacker exploited it. Approximately, the attacker executed this exploit up to one hundred days following the project’s completion. Hence, the attacker initiated a scheme by funding address via Tornado Cash which is a privacy-focused crypto mixer to obfuscate transfer trails. Subsequently, the exploiter sent a minor $ETH transfer to recompense the gas fee for the exploit’s execution. Ultimately, the attacker drained the whole fund of Infini through the smart contract. DeFi Projects Need Preemptive Measures to Prevent Future Attacks According to Cyvers Alerts, the Infini exploit highlights inadequate access control processes as well as a failure to invalidate administrative privileges. Hence, the teams behind the DeFi projects should pay considerable head to such loopholes to avoid exploits. Additionally, there is a requirement for real-time threat discovery, proactive security observation, routine audits, and strict access control mechanisms.

Telcoin (TEL) has attracted market attention with its incredible price surges over the past few months. However, its recent pullback over the past week prompted traders to raise concerns about the asset’s future price movement. In response, crypto analyst Ali Martinez shared metrics projecting that TEL could see price growth soon. #Telcoin $TEL is setting up for a 22% price move! pic.twitter.com/N41fFsW2nc — Ali (@ali_charts) February 24, 2025 Telcoin to rise 22% According to a technical chart reported by Martinez today, Telcoin has formed a falling wedge bullish pattern on its four-hour timeframe. This chart normally forms before a significant upward momentum happens. Since TEL is currently trading at $0.01091, it remains to see if can break through the crucial $0.0127 resistance level. A successful move could create a 22% jump, bolstering the price to around $0.0154. TEL price updates Telcoin is currently facing significant challenges after recording a decrease of 7.7% over the past seven days. Despite the ongoing decline, TEL had experienced massive uptrends over several months ago. At press time, its price is standing at $0.01091, after experiencing a decline of 2.1% over the previous day. Despite a decrease in transaction volume by 26.10%, traders are showing interest in the asset, suggesting a possible breakout from the current fall. Social media sentiment on the asset remains bullish as multiple users talk about the asset. Over the past 24 hours, active addresses have increased by 17% while the figures for social mentions have risen by 42%. This growth in active addresses suggests that traders are increasingly creating new positions in the asset. Despite the current slump, the token has been facing huge withdrawals from exchanges, indicating accumulation by whales and reducing selling pressure. Whales’ accumulation is reflected in TEL’s price. Over the past 30 days, 60 days, and 90 days, the asset’s price rose by 58.08%, 96.49%, and 195.01% respectively, showcasing the asset’s growth potential. This shows that investor sentiment continues to become more enthusiastic about the asset, as traders and big crypto holders are positioning themselves in expectation of future price rises. The growing user interest and increasing numbers of new positions being created in the token suggest that Telcoin could be moving towards a major uptrend soon.