Merlin Chain (MERL), as a native Bitcoin Layer 2 solution, has achieved significant milestones since its inception. As of 2025, MERL's market capitalization has reached $378 million, with a circulating supply of approximately 1.05 billion tokens and a price hovering around $0.36. This asset, hailed as the "Bitcoin Fun Maker," is playing an increasingly crucial role in empowering Bitcoin's native assets, protocols, and products.
This article will comprehensively analyze MERL's price trends from 2025 to 2030, considering historical patterns, market supply and demand, ecosystem development, and macroeconomic factors to provide investors with professional price predictions and practical investment strategies.
As of November 15, 2025, MERL is trading at $0.35935, with a 24-hour trading volume of $2,275,940.62. The token has experienced a slight decline of 0.96% in the past 24 hours. MERL's market capitalization stands at $378,028,117.50, ranking it 179th in the global cryptocurrency market.
The current price represents a significant recovery from its all-time low but remains well below its all-time high. MERL has shown strong performance over the past month and year, with gains of 20.36% and 24.41% respectively, indicating growing investor interest. However, the token has faced short-term pressure, declining 12.16% over the past week.
With a circulating supply of 1,051,977,508 MERL and a total supply of 2,100,000,000, the token has a circulation ratio of 50.09%. The fully diluted market cap is $754,635,000, suggesting potential for further growth if the project continues to gain traction.
Click to view the current MERL market price

2025-11-15 Fear and Greed Index: 10 (Extreme Fear)
Click to view the current Fear & Greed Index
The crypto market is currently experiencing extreme fear, with the sentiment index plummeting to 10. This level of pessimism often signals a potential buying opportunity for contrarian investors. However, it's crucial to exercise caution and conduct thorough research before making any investment decisions. Remember, market sentiment can shift rapidly, and past performance doesn't guarantee future results. Stay informed, diversify your portfolio, and consider using Gate.com's advanced trading tools to navigate these turbulent market conditions.

The address holdings distribution data reveals significant concentration in MERL token ownership. The top address holds 34.41% of the total supply, while the top five addresses collectively control 65.25% of MERL tokens. This high concentration raises concerns about potential market manipulation and volatility.
Such a concentrated distribution structure could lead to increased price volatility if large holders decide to sell or transfer significant portions of their holdings. It also suggests a lower level of decentralization, as a small number of addresses have substantial influence over the token's supply. This concentration may impact market dynamics and liquidity, potentially deterring smaller investors due to perceived risks of price manipulation.
While some concentration is common in early-stage projects, the current MERL distribution indicates a need for improved token dispersion to enhance market stability and decentralization. Monitoring changes in this distribution over time will be crucial for assessing the project's progress towards a more balanced and resilient token economy.
Click to view the current MERL Holdings Distribution

| Top | Address | Holding Qty | Holding (%) |
|---|---|---|---|
| 1 | 0xa2ff...ad8443 | 687495.49K | 34.41% |
| 2 | 0x6353...326813 | 299169.99K | 14.97% |
| 3 | 0x6414...f10d59 | 129050.13K | 6.46% |
| 4 | 0xdc94...a44536 | 98993.19K | 4.96% |
| 5 | 0xbd37...4f45ab | 88851.83K | 4.45% |
| - | Others | 694279.42K | 34.75% |
| 年份 | 预测最高价 | 预测平均价格 | 预测最低价 | 涨跌幅 |
|---|---|---|---|---|
| 2025 | 0.53545 | 0.35936 | 0.27671 | 0 |
| 2026 | 0.54583 | 0.4474 | 0.22818 | 24 |
| 2027 | 0.65057 | 0.49662 | 0.37246 | 38 |
| 2028 | 0.71699 | 0.57359 | 0.53344 | 59 |
| 2029 | 0.81952 | 0.64529 | 0.5614 | 79 |
| 2030 | 1.0034 | 0.73241 | 0.40282 | 103 |
(1) Long-term Holding Strategy
(2) Active Trading Strategy
(1) Asset Allocation Principles
(2) Risk Hedging Solutions
(3) Secure Storage Solutions
Merlin Chain (MERL) presents a promising long-term value proposition as a Bitcoin Layer 2 solution, with strong initial adoption and backing from an experienced team. However, short-term risks include high volatility and regulatory uncertainties.
✅ Beginners: Start with small positions, focus on learning about Layer 2 technology ✅ Experienced investors: Consider allocating a portion of your Bitcoin-related investments to MERL ✅ Institutional investors: Conduct thorough due diligence and consider MERL as part of a diversified crypto portfolio
Cryptocurrency investments carry extremely high risks, and this article does not constitute investment advice. Investors should make decisions carefully based on their own risk tolerance and are advised to consult professional financial advisors. Never invest more than you can afford to lose.
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