What is Merlin Chain (MERL)? Token Distribution and Price Prediction

Merlin Chain (MERL) has recently attracted the attention of crypto investors after its price surged significantly. If you're curious about what Merlin Chain (MERL) is, you've come to the right place.

This article will thoroughly discuss the project, from token distribution to current prices, the reasons for today's significant price increase for MERL, and even its price predictions. Find out more here!

What is Merlin Chain (MERL)?

Launched in January 2024 by Bitmap Technology, Merlin Chain (MERL) exists as a ZK-Rollup network that allows thousands of transactions to be processed off-chain before being proven back to the Bitcoin blockchain.

This approach reduces the load on the mainnet, making transactions faster and cheaper.Not only that, Merlin Chain also utilizes decentralized oracle network to supply secure, real-time data to smart contracts and dApps in its ecosystem.

There are also modules Data Availability to ensure all critical data is available and verifiable by users without having to download the entire blockchain dataset.

The native token of this project,MERL, functions for staking, paying transaction fees, providing native liquidity, and acting as collateral in the Merlin ecosystem. Holders of this token can contribute to securing the network by delegating tokens to collators or running their own collators.

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MERL Token Distribution

Total supply of MERL token reached 2.1 billion tokens with the following distribution:

Public Sale: 1%

Merlin’s Seal: 20%

Team: 4,20%

Private Sale B: 13,90%

Private Sale A: 1,33%

Advisors: 3%

Community: 16,57%

Ecosystem: 40%

This MERL token distribution demonstrates a strong focus on ecosystem and community development, not just on the team or private sale.

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MERL Price Today

Sumber: Coinmarketcap

Based on the latest graphic data, hangry MERLtoday is in the range $0,2833 by market capitalization$277.35 million and 24-hour trading volume$268.2 million(up more than 1,100%).

Meanwhile, the circulating supply has reached 978.95 million MERL, out of a total of 2.1 billion. The 44.8% price surge in the last 24 hours indicates significant speculative interest.

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Causes of MERL Price Rises Today

Some of the factors driving the increase in MERL prices today include:

1. Strong Technical Momentum

Technical indicators show 7-day RSI reached 87.9, signaling overbought conditions but also FOMO. A breakout at the $0.314 resistance level triggered algorithmic buy orders, causing volume to spike.

2. Sui Partnership Expansion

Integration with the Sui DeFi ecosystem allows the M-BTC token to be used on Sui protocols like Navi. This strengthens MERL's position as a high-speed liquidity bridge between Bitcoin and DeFi.

3. Bitcoin Layer 2 Narrative

With Bitcoin dominating the crypto market at around 57.6%, investors are increasingly looking to BTC Layer 2 solutions. The Merlin 2.0 upgrade, which offers staking yields of up to 21%, adds to its appeal.

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Merlin Chain (MERL) Price Prediction

Based on the price chart and analysis above:

Short Term (1–2 weeks): If the $0.275 support holds, MERL could potentially retest $0.33–$0.35. However, if the support breaks, the price could correct to $0,24–$0,25 as a healthy consolidation.

Long Term (6–12 months): With the adoption of ZK-Rollup technology, cross-chain partnerships, and a focus on the ecosystem, MERL has the potential to penetrate $0,50–$0,70. If BTCfi's market momentum remains positive, competition from other Layer 2 projects like Stacks and Rootstock remains a concern.

Read Also: What is CUDIS Token? Roadmap, Allocation, and Price Prediction

Conclusion

So , what is Merlin Chain (MERL)? This project is a Bitcoin-based Layer 2 solution that combines ZK-Rollup technology, decentralized oracles, and advanced security modules to improve the efficiency of the BTC network.

With its multifunctional MERL token and ecosystem-focused distribution model, this project has a strong potential to become a major player in the BTCfi space. However, investors should still consider short-term volatility before entering.

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FAQ

What is Merlin Chain (MERL)?

Merlin Chain is a Bitcoin-based Layer 2 that uses ZK-Rollup technology to improve scalability and transaction efficiency.

What is the function of the MERL token?

MERL is used for staking, paying transaction fees, liquidity, and collateral in the Merlin ecosystem.

What is the total supply of MERL?

The total supply of MERL is 2.1 billion tokens.

Why did the price of MERL increase drastically today?

The price increase was driven by technical momentum, a partnership with Sui, and the trend of the Layer 2 Bitcoin narrative.

Is MERL suitable for long-term investment?

If the Merlin ecosystem continues to grow and partnerships expand, MERL has exciting long-term potential, although volatility remains a concern.