MERL
Merlin Chain
MERL

Merlin Chain price

in USD
$0.29312
-$0.05929 (-16.83%)
USD
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Market cap
$288.54M
Circulating supply
978.96M / 2.1B
All-time high
$1.780
24h volume
$46.46M
4.1 / 5
MERLMERL
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About Merlin Chain

MERL is the native cryptocurrency of Merlin Chain, a Bitcoin Layer 2 solution designed to unlock Bitcoin's potential beyond just storage. By enabling Bitcoin to be used in lending, liquidity provision, and other financial activities, Merlin Chain transforms BTC into a productive asset. MERL plays a key role in this ecosystem, facilitating transactions, staking, and governance. With growing institutional interest and real-world applications like compliant treasury management, MERL is gaining traction as a bridge between traditional finance and the Bitcoin economy. Its focus on security, scalability, and integration makes it a noteworthy project for those exploring Bitcoin's evolving utility.
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Layer 2
Official website
White Paper
Block explorer
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Last audit: --

Disclaimer

The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.

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Merlin Chain’s price performance

Past year
-7.77%
$0.32
3 months
+244.68%
$0.09
30 days
+160.01%
$0.11
7 days
+52.72%
$0.19

Merlin Chain on socials

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Pairs with prices at EMA's in the last 1h $STBL $PUMPBTC $IN $1000SATS $MYRO $SWELL $MEME $EIGEN $RESOLV $EDU $TRADOOR $BDXN $BERA $ONE $MERL $ALGO $BROCCOLIF3B $PROMPT $DEXE
1.99K
0
Aivora
Aivora
We’ve got new listings on Aivora - ready for you to trade with up to 50x leverage. $HYPE - @HyperliquidX $JTO - @jito_sol $TRU - @TrueFiDAO $BB - @bounce_bit $ZETA - @zetablockchain $MERL - @MerlinLayer2 $TA - @TrustaLabs $RED - @redstone_defi Trade links 👇
1.73K
3
花轮
花轮
GOAT has finally TGE'd, and it will be listed for trading the day after tomorrow on the 27th. OKX wallet users can check their eligibility for airdrops first 🎉 @GOATRollup #OKX
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花轮
花轮
Lookonchain @lookonchain This monitoring platform is quite useful. When I was browsing Twitter, I saw information about $MERL, which reminded me that I have a lot of wallets on the Merlin chain with funds in them. According to Lookonchain's monitoring, in the past week, two wallets quietly withdrew 98.24 million $MERL from exchanges, which is about one-tenth of the circulating supply. Everyone understands that large holders withdrawing coins to wallets means they won't sell in the short term. What's more interesting is that this happened after the price increased by 70% over the past seven days. Instead of dumping after the price rise, they continued to accumulate at high levels. With chips being pulled out, the market is getting tighter. As long as more funds come in, the price elasticity will be amplified, setting the stage for something to happen. Recently, the Merlin chain has also made new moves on the fundamentals. The Nasdaq-listed company CIMG Inc. has set up a $55 million Bitcoin treasury, with the first batch of 500 BTC already placed on Merlin's HODL+ for yield generation. This is different from ordinary brand collaborations; it involves real money entering the market. If the treasury generates profits, it could flow back into the ecosystem, essentially laying the groundwork for a potential buyback of $MERL. As of now, the on-chain staking of $MERL has reached 232 million (71.5 million USD, accounting for 23.7% of the circulating supply), with only 91.84 million $MERL (28.3 million USD) remaining on centralized exchanges (CEX). So the current situation is quite interesting: on one side, whales are continuously accumulating and staking, while on the other side, institutional treasury funds are starting to enter. At the same time, Merlin's own layout in the BTCFi ecosystem—like M-BTC multi-chain and AI product Wizard—is also gradually being implemented. Compared to this, it feels like the market pricing of $MERL hasn't fully accounted for these developments. Lookonchain's on-chain monitoring tweet:
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Merlin Chain FAQ

Currently, one Merlin Chain is worth $0.29312. For answers and insight into Merlin Chain's price action, you're in the right place. Explore the latest Merlin Chain charts and trade responsibly with OKX.
Cryptocurrencies, such as Merlin Chain, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Merlin Chain have been created as well.
Check out our Merlin Chain price prediction page to forecast future prices and determine your price targets.

Dive deeper into Merlin Chain

Merlin Chain represents a Layer 2 network developed to extend the capabilities of Bitcoin by incorporating advanced technologies such as ZK-Rollup, decentralized oracle networks, Data Availability, and BTC fraud proof modules. This platform is dedicated to boosting Bitcoin’s utility and interaction by enhancing assets, protocols, and products originally established on Bitcoin’s Layer 1.

Merlin Chain uses zero-knowledge proofs to verify commitments on the Bitcoin blockchain, facilitating a mechanism where disputes are resolved securely and transparently. This approach not only strengthens the security but also increases the efficiency of the network, making it a reliable environment for its users.

The vision of Merlin Chain is to bridge the innovations of Bitcoin from Layer 1 to Layer 2. This encompasses backing a variety of Bitcoin Layer 1 assets, developing decentralized applications that embody the ’fully on-chain’ ethos of Bitcoin. Additionally, it focuses on a community-driven approach to asset launches and is working towards compatibility with Ethereum Virtual Machine (EVM) to broaden Bitcoin’s application scope.

Launched in February 2024, Merlin Chain has quickly established itself as a leading Layer 2 network with over $3.6 billion Total value locked (TVL) and a diverse range of DApps spanning DeFi, gaming, and social platforms. The network also introduces $MERL, a native token integral to governing and securing the ecosystem, marking a significant step in its evolution.

How does Merlin work?

Merlin Chain leverages advanced blockchain technologies, rooted in Polygon’s ZK technology, to enhance Bitcoin’s functionality and scalability. This Layer 2 solution integrates a decentralized oracle network for data availability, supported by Celestia, and utilizes Lumoz’s decentralized computing for zero-knowledge proof (ZKP) computations. Merlin’s architecture allows for the processing of transactions via ZK Rollups, offering benefits such as heightened security by inheriting Bitcoin’s robust consensus mechanism while improving scalability through batch processing on Layer 2. The system supports EVM-compatible smart contracts, enhancing interoperability with existing blockchain ecosystems.

Additionally, Merlin Chain optimizes transaction costs by employing ZK proofs and zkSNARKs to minimize data storage on Layer 1, leading to lower fees and higher throughput. The zkProver component within Merlin executes complex mathematical operations, ensuring all transactions are verified under stringent security standards before being confirmed on the network, promoting a secure, efficient, and economically scalable blockchain environment.

MERL Prices and Tokenomics

Merlin Chain’s native token is MERL, a BRC-20 token with a fixed supply of 2.1 billion units, underpinning the network’s transactional and governance activities. As a vital cog in the ecosystem, $MERL grants holders participatory power in crucial network decisions and development through a structured governance model.

Engagement in the Merlin ecosystem is multifaceted—holders can stake MERL to bolster the security layer or use the token for transactional purposes across the network. Moreover, MERL facilitates a delegated staking system, empowering token holders to contribute to the network’s operational efficiency. Within the ecosystem, MERL also serves as a key liquidity provider and a form of collateral, ensuring the seamless execution of transactions and supporting the network’s various financial mechanisms.

Token allocation for $MERL is meticulously planned. This involves a phased release strategy designed to maintain a steady flow into the market, fostering growth while managing inflation. The allocation caters to diverse ecosystem needs—from developmental funds to community incentives—encouraging long-term engagement and stability. By integrating these strategic tokenomics with user-centric features, Merlin Chain is geared toward fostering a sustainable and participatory blockchain environment.

Merlin Highlights

  • EVM Compatibility & Efficiency: Merlin Chain excels in providing low transaction fees and enhanced scalability, compatible with Ethereum Virtual Machines (EVMs) for fast and efficient transaction processing.
  • BTC Protocol Support: Supports a range of Bitcoin protocols including BRC20 and BRC420, along with innovative solutions like Bitmap, Atomicals, Pipe, and Stamp, broadening its reach across Bitcoin’s Layer 2.
  • ZK Rollup Implementation: Incorporates ZK-Rollup technology, advancing the efficiency and scalability of the network, with sequencer nodes orchestrating data transfer through decentralized Oracles to promote transparency and bolster security.
  • Layer 2 Native Innovations: Upholds a dedication to equitable launches and community-led developments, ensuring Merlin Chain is at the forefront of introducing native, user-focused solutions on Bitcoin’s Layer 2.

ESG Disclosure

ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKCoin Europe Ltd
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Merlin
Consensus Mechanism
Merlin Chain employs a Zero-Knowledge Rollup (ZK-Rollup) architecture and additional mechanisms to ensure efficient, secure, and decentralized transaction processing; transactions are aggregated off-chain into a single cryptographic proof before submission to the Bitcoin mainnet, enhancing scalability and reducing costs while leveraging Bitcoin’s security; a Data Availability Committee (DAC) manages off-chain data validity and accessibility, ensuring integrity and transparency in the ZK-Rollup process; a two-step Zero-Knowledge Proof submission mechanism allows miners to participate in proof generation and submission, decentralizing the security model and creating a stable computational environment.
Incentive Mechanisms and Applicable Fees
Merlin Chain’s incentive model ensures fair compensation for validators and a transparent fee structure for users; validators earn rewards from transaction fees for securing the network and processing transactions on both Layer 2 (L2) and Layer 1 (L1); L2 fees cover the cost of executing transactions on Merlin Chain’s Layer 2 network, while L1 security fees cover the cost of transmitting aggregated transaction data and ZK proofs to the Bitcoin mainnet for finalization; the gas fee model, similar to EVM-compatible chains, determines fees based on network usage and computational requirements, ensuring predictable and efficient fee allocation.
Beginning of the period to which the disclosure relates
2024-09-24
End of the period to which the disclosure relates
2025-09-24
Energy report
Energy consumption
455226.74950 (kWh/a)
Energy consumption sources and methodologies
For the calculation of energy consumptions, the so called 'bottom-up' approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. Due to the structure of this network, it is not only the mainnet that is responsible for energy consumption. In order to calculate the structure adequately, a proportion of the energy consumption of the connected network, bitcoin, must also be taken into account, because the connected network is also responsible for security. This proportion is determined on the basis of gas consumption. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. The information regarding the hardware used and the number of participants in the network is based on assumptions that are verified with best effort using empirical data. In general, participants are assumed to be largely economically rational. As a precautionary principle, we make assumptions on the conservative side when in doubt, i.e. making higher estimates for the adverse impacts.
Market cap
$288.54M
Circulating supply
978.96M / 2.1B
All-time high
$1.780
24h volume
$46.46M
4.1 / 5
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