Greenlane's $70M BERA Treasury Plunges to $16M as Token Slides 76%

Greenlane's BERA Treasury Craters From $70M to $16M in One Quarter

Greenlane Holdings, a cannabis-focused company, disclosed that its treasury holdings in BERA — the native token of the Berachain network — plummeted to $16 million by the end of Q2. That's a staggering $54 million decline from the previous quarter's $70 million valuation.

The drop forced Greenlane to record a $19.1 million noncash valuation loss, reflecting the token's sharp depreciation. According to the source, BERA's price fell nearly 76% year to date, making it one of the worst-performing major altcoins in 2025.

For context, Greenlane had initially embraced BERA as a strategic reserve asset, but the token's slide has now erased a significant portion of the company's digital asset value. The company's balance sheet now carries the token at fair value, with further declines potentially triggering additional writedowns.

What's Behind BERA's 76% Slide? Tokenomics and Market Sentiment

Supply Pressure and Unlock Schedules

One key driver of BERA's decline is the ongoing token unlock schedule. Like many new layer-1 tokens, Berachain has a large portion of its supply locked up that gradually unlocks over time, creating persistent sell pressure. As more tokens hit the market, buyers have struggled to absorb the supply, pushing prices down.

Additionally, the broader crypto market has seen a rotation away from smaller-cap altcoins into established assets like Bitcoin and Ethereum. This shift has left tokens like BERA with thinner order books and higher volatility, amplifying downside moves.

Weakening Network Metrics and Sentiment

Beyond supply dynamics, Berachain's on-chain activity has reportedly cooled. Network usage, total value locked (TVL), and user growth have all declined from their peaks, undermining the narrative that drove BERA's initial rally. When fundamentals weaken, speculative tokens often experience outsized drawdowns as traders flee to safer havens.

Market sentiment has also turned cautious toward new layer-1s, especially those with high fully diluted valuations. Investors are increasingly scrutinizing whether these networks can sustain demand, and BERA has faced skepticism on that front.

Key Levels to Watch: BERA Price and Greenlane's Next Moves

For traders tracking BERA, the token's price action near its all-time lows will be critical. A break below the current support could open the door to further downside, while a reclaim of key moving averages — which you can monitor using technical indicators — might signal a potential stabilization. However, given the token's volatility, any bounce could be short-lived.

For Greenlane, the focus will be on whether management decides to hold, sell, or hedge its remaining BERA position. The company's next quarterly report will reveal whether the treasury has been further reduced or if they've taken action to mitigate risk. Shareholders will also watch for any impact on liquidity or operations.

What This Means for Traders: Lessons From Corporate Treasury Losses

Greenlane's experience is a cautionary tale about the risks of holding volatile altcoins on a corporate balance sheet. For traders, it underscores the importance of position sizing and risk management when dealing with low-liquidity tokens. Even institutional-sized holdings can suffer catastrophic losses if the market turns.

This case also highlights the potential for forced selling. If a company faces liquidity constraints or margin calls, it may be forced to liquidate its token holdings, exacerbating price declines. Traders should watch for such events as they can create sharp, short-term opportunities.

Moreover, the correlation between BERA's price and Greenlane's stock (if publicly traded) could be a factor for equity traders. A further drop in BERA might pressure the stock, while any recovery could provide a boost. Keeping an eye on both markets can offer an edge.

Ultimately, this serves as a reminder that not all assets are suitable for long-term treasury reserves. For individual traders, it reinforces the value of diversification and avoiding over-concentration in any single asset, no matter how promising it seems.