{"id":721,"date":"2025-05-23T17:48:49","date_gmt":"2025-05-23T17:48:49","guid":{"rendered":"https:\/\/bitunikey.com\/news\/heres-why-merlin-chains-merl-token-price-is-soaring\/"},"modified":"2025-05-23T17:48:50","modified_gmt":"2025-05-23T17:48:50","slug":"heres-why-merlin-chains-merl-token-price-is-soaring","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/heres-why-merlin-chains-merl-token-price-is-soaring\/","title":{"rendered":"Here\u2019s why Merlin Chain\u2019s MERL token price is soaring"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Merlin Chain\u2019s token surged to a multi-month high as its total value locked jumped and as a $1 million trading competition continued.\u00a0<\/p>\n<p>Merlin Chain (MERL) price jumped to $0.1622, up by 132% from its lowest point this year. This surge pushed its market cap to over $102 million.\u00a0<\/p>\n<p>Merlin Chain, which offers a Bitcoin (BTC) layer-2 network, has seen an inflow in assets in the past few days. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/merlin\" target=\"_blank\">DeFi Llama<\/a> data shows that the total value locked in the network jumped to $343 million, up from this month\u2019s low of $85 million.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Its growth was driven by Solv Protocol\u2019s assets, which jumped to over $283 million, and MerlinSwap with over $26.5 million.\u00a0<\/p>\n<p>The MERL token also jumped as the developers partnered with Binance for a competition that will see users win rewards of up to $1 million. The top 10,000 MERL traders by purchase volume will share 9,840,000 MERL tokens, with each receiving 984 tokens worth about $160.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/MerlinLayer2\/status\/1925124084842803229\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">MERL price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14382496\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">MERL price chart | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/MERLUSDT\/?exchange=OKX\" target=\"_blank\">TradingView<\/a><\/figcaption><\/figure>\n<p>The daily chart shows that the MERL price jumped to a high of $0.1622 on Friday, its highest level since January. This rally happened after the token formed a triple-bottom pattern at $0.0770.\u00a0<\/p>\n<p>A triple-bottom comprises three down-peaks and a neckline, which in this case, was at $0.1452. It has moved above the 50-day moving average and the neckline, while the Relative Strength Index and the MACD have all pointed upwards,<\/p>\n<p>The token will likely keep rising as bulls target the 50% retracement level at $0.2881, up by 94% above the current level. A drop below the support at $0.10 will invalidate the bullish outlook.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Merlin Chain\u2019s token surged to a multi-month high as its total value locked jumped and as a $1 million trading competition continued.\u00a0 Merlin Chain (MERL) price jumped to $0.1622, up&hellip;<\/p>\n","protected":false},"author":1,"featured_media":722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=721"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/721\/revisions"}],"predecessor-version":[{"id":723,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/721\/revisions\/723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/722"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}