Merlin Chain MERL

What MERL actually is on-chain

Merlin Chain is an ERC-20 deployed on Ethereum, at contract address 0x0f3a12b78fee11ee088e454a0547bdbc5a253a6d. That address, not the ticker MERL, is what uniquely identifies this asset: anyone can deploy a second token calling itself MERL, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, MERL is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in MERL itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

For MERL the project publishes a whitepaper, a public source repository and an active account as @MerlinLayer2. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where MERL sits in the market

Ranked #529, Merlin Chain falls in the top of the small-cap band. The order book absorbs size poorly at this depth: one meaningful market order can reprice the tape by several percent before it retraces minutes later. A lone static price target therefore fires on noise, and what you want is a condition built to survive that wick. Venue coverage is narrow, which makes volume-based delisting a concrete risk rather than a theoretical one.

CryptoPingAi is currently streaming 4 live MERL order books (OKX, Gate.io, HTX, Bithumb). That is coverage in line with a #529 ranking: enough books to cross-check a quote, few enough that one of them can dominate price formation for hours at a time. One of them is a Korean won market, so the Kimchi-premium spread between the KRW and USDT quote is visible on this page.

MERL against its all-time high

More than 95% separates MERL from its all-time high of $1.45 (on 2024-04-19) — a 52.1x recovery. At that distance the high stops working as a reference at all; it belongs to a different supply structure, a different holder base and typically a different cycle. What carries information for MERL now is the downside, so read the range section below before this one. That high was set 3 years ago, recently enough that it still anchors how most current holders frame the asset.

MERL across its historical range

The recorded range runs 68.1x, from $0.0213 to $1.45 — wide by the standards of traditional assets, moderate for this one's class.

At 30.7% above its record low of $0.0213 (on 2026-04-03), MERL sits near the edge of its own price history. Nothing has traded beneath that level, so there is no support to reference, no volume shelf and no cost-basis cluster underneath. Because that low is itself recent, the asset is in an active downtrend rather than sitting at an old floor — each new low invalidates the previous one as a reference.

MERL supply and valuation data

Merlin Chain sits just outside the band where circulating and total supply are independently verified, so we hold a valuation figure for MERL but not an audited token count. What we do have is a fully diluted valuation of $79.9 million as of 2026-05-12. That places it in the top 10% by fully diluted value.

Since the figure is a snapshot rather than a live number, we do not reverse it into a supply count: the price has moved since it was taken, and that division would produce a confident but incorrect token count. For any per-token valuation, check the current supply on the project's own explorer first. The authoritative figure is the one etherscan.io reports for this contract.

What kind of asset MERL is

Merlin Chain is a layer-2 or scaling asset, which means its economics are downstream of a base chain. Fee revenue depends on how much activity migrates to it, and the competitive set is crowded — several rollups compete for the same transactions with near-identical technical claims. Sequencer decentralisation and the fee split with the settlement layer are the structural questions.

CoinGecko files MERL under 9 categories, including BNB Chain Ecosystem, Ethereum Ecosystem, Layer 2 (L2), Merlin Chain Ecosystem, Bitcoin Sidechains. CoinGecko also records deployments on BNB Chain (2,027 tracked tokens), Ethereum (3,072 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading.

How to set a Merlin Chain alert that is worth receiving

Merlin Chain is the ERC-20 at 0x0f3a…3a6d on Ethereum — quoted on 4 venues we stream — high dated 2024-04-19 — rank #529. On this profile the condition that carries signal is thresholds anchored to the recent range rather than to the all-time high.

Full alert-design method: thresholds, RSI/MACD and volume conditions →