Merlin Chain

Bitcoin SideChain · Bitcoin Layer 2

MERL#396Mcap $43.76M

$0.031924hLast close

Performance

Cycle lowCycle rangeAll-time high

$0.0158$1.37

All-time high$1.37−97.8% · Apr 19, 2024

Cycle low$0.0158+89.2% · Jun 25, 2026

Volatility (30D)64.5%

Volatility (1Y)184.2%

Sharpe ratio (1Y)-0.60

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Converter

MERLUSDBTCETH

At the live price.

Metrics

Market

Market cap$43.76M

Fully diluted value$62.55M

Volume (24h)$5.90M

Circulating supply1.43B MERL

Max supply2.10B MERL

Mcap / FDV70.0%

Dominance0.002%

Turnover (24h)10.38%

Rank#396

Sector rank#8 · Scaling Solutions

Trading

Markets16

Exchanges21

Trading sinceApr 19, 2024

Derivatives

Open interest$17.24M

Funding (OI-weighted)-0.0084%

Funding (volume-weighted)-0.0098%

Futures volume (24h)$45.40M

Futures trades (24h)589,453

Liquidity

Buy depth (−2%)$211.5K

Sell depth (+2%)$196.3K

Spot pairs counted27

Order-book depth within 2% of the price, summed across spot pairs.

Classification

SectorNetworks

Sub-sectorBitcoin SideChain · Layer-2

EcosystemMerlin Chain

NetworksBNB Chain · Merlin Chain · Ethereum

Across Cryp2Nova

Chain TVL$8.88M

Recent events

Named holder entered the top 1000 · Uniswap V4: Pool ManagerNov 3, 2026

Named holder left the top 100 · Wintermute tradingOct 17, 2026

Social activity

Accounts mentioning it

24h0

7 days1

30 days1

Share of voice0.01%

Share-of-voice rank#1,002

Links

WebsiteWebsite

ResourcesWhitepaper Documentation Github

SocialDiscord Telegram X

ContentMedium YouTube

ExplorerBlock Explorer Etherscan

Contracts

Merlin Chain0x5c46…c87378

Top markets

Supply

68.1% in circulationmax 2,100,000,000

Circulating supply1,429,811,256 MERL

Total supply2,100,000,000 MERL

Remaining to issue670,188,744 MERL

Unlocked69.9%

Latest news

Key facts

LaunchedApr 19, 2024

CategoryNetworks

SectorScaling Solutions

TagsBitcoin SideChainLayer-2Bitcoin Layer 2OrdinalsZero Knowledge (Validity Proofs)

Merlin Chain in numbers

Merlin Chain (MERL) ranks #396 by market capitalization, at $43.76M. It belongs to the Networks sector (Bitcoin SideChain). It has traded since Apr 19, 2024, across 16 markets on 21 exchanges, with $5.90M of volume in the last 24 hours. Its all-time high of $1.37 was reached on Apr 19, 2024; the current price is 97.8% below that peak. Its cycle low of $0.0158337 came on Jun 25, 2026.

68.1% of the maximum supply of 2.10B MERL is in circulation. 69.9% of the token allocation has been unlocked. The next scheduled unlock is on Nov 19, 2026. 25 investors are recorded as backers, including OKX Ventures, Spartan Group, MH Ventures. On BNB Chain, 18,914 addresses hold MERL. It is available on 3 networks.

About Merlin Chain

Merlin Chain is a Layer 2 blockchain solution focused on enhancing Bitcoin's functionality by introducing native Layer 1 assets and protocols. It supports Bitcoin protocols like BRC20 and employs ZK-Rollup technology to improve transaction efficiency and scalability. The platform is community-driven and emphasizes low fees and high scalability.

Timeline

Apr 19, 2024

All-time high at $1.37

Apr 19, 2024

Started trading

Apr 19, 2024

Token generation

Jun 25, 2026

Cycle low at $0.0158337

Nov 19, 2026

Next scheduled unlock

Apr 19, 2028

Projected end of unlocks

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