BREV (Brevis) down 14.09% in 24 hours, market cap approximately $89.3 million

Gate News Bot Message, January 7th, according to CoinMarketCap data, as of press time, BREV (Brevis) is currently priced at $0.36, down 14.09% in the past 24 hours, with a high of $0.48 and a low of $0.36. The 24-hour trading volume reached $252 million. The current market capitalization is approximately $89.3 million, ranking 304th globally.

Brevis Network is an infinite computing layer providing zero-knowledge proof infrastructure. Its core products include Pico zkVM — the only modular zero-knowledge virtual machine capable of producing Ethereum block proofs with 99% real-time proof, able to prove an Ethereum block with 45 million gas in an average of 6.9 seconds, with performance efficiency 3.4 times higher than competing solutions; and ZK Data Co-Processor, used for blockchain smart computations.

Additionally, Brevis has launched ProverNet — a decentralized zero-knowledge proof generation marketplace, now live on the mainnet test. The network uses a TODA auction mechanism for task matching and real-time pricing, with the BREV token serving as a payment medium, staking collateral, and governance tool. The platform supports multiple application scenarios including smart DeFi, physical asset and stablecoin growth, cross-chain interoperability, and verifiable AI, and is backed by well-known investment institutions such as Polychain Capital and YZ Labs.

Important recent news about BREV:

1️⃣ ProverNet Mainnet Launch Drives Token Economy Model Activation
The ProverNet mainnet has officially gone live, marking Brevis network’s transition from testing to actual operation. BREV payment and staking functions are activated simultaneously. Provers can lock BREV to qualify for task acceptance, and ordinary token holders can stake tokens with provers to participate in fee sharing. All proof tasks, validation, and settlement have been fully migrated to BREV settlement, replacing the previous USDC model, thereby strengthening the token’s practical utility. This shift signifies a transition of the token from a purely transactional asset to a productive asset.

2️⃣ Exchange Launch and Derivatives Market Expansion
BREV was launched on Gate global spot trading on January 6, supporting instant swap functions and one-click exchange for over 2200 crypto assets. Following that, on January 7, Gate completed the migration of BREVUSDT perpetual contracts from pre-market to official contracts, and launched the contract on Gate Perp DEX, supporting 1-50x leverage trading. The rapid deployment of the exchange ecosystem facilitates large-scale user participation, but high leverage short liquidation pressure may exert downward pressure on the price.

3️⃣ Token Airdrop and Initial Liquidity Shock
The BREV token airdrop began on January 6, with a 30-day claim window during which a large amount of airdropped tokens will enter circulation. The release of airdrops often puts initial price pressure on newly listed assets, especially when trading depth is not yet fully established. The 24-hour trading volume of $252 million indicates strong market engagement, but the price volatility from ( high of $0.48 to low of $0.36 ) also shows significant market sentiment fluctuations. Increased supply may intensify short-term correction pressures.

This message is not investment advice; please be aware of market volatility risks when investing.