MERL (Merlin Chain) rose 19.16% in the last 24 hours.

Gate News Bot news, on October 17, according to CoinMarketCap data, as of the time of writing, MERL (Merlin Chain) is currently priced at 0.35 USD, having risen 19.16% in the last 24 hours, reaching a high of 0.41 USD and a low of 0.29 USD. The current market capitalization is approximately 343 million USD, an increase of 55.1 million USD compared to yesterday.

Merlin Chain is the native Layer2 network of Bitcoin, designed to unleash the potential of Bitcoin, supporting native L1 assets, users, and protocols. Merlin Chain offers low fees and high scalability, ensuring fast transaction processing and enhanced transaction liquidity as an EVM-compatible chain. It supports popular Bitcoin protocols such as BRC20, BRC420, etc., and has implemented ZK-Rollup to improve efficiency and scalability. Merlin Chain is committed to continuously promoting fair releases and community-driven native innovation on Layer2, providing unique solutions for the Bitcoin network and its users.

Important news about MERL recently:

1️⃣ The expansion of the Bitcoin ecosystem drives the rise in MERL value Merlin Chain, as the native Layer 2 network of Bitcoin, is closely tied to the value of the expansion of the Bitcoin ecosystem. With the continuous development of the Bitcoin network and the increase in application scenarios, Merlin Chain, as a platform providing low fees and high scalability solutions, has attracted more attention from developers and users, driving the rise of the MER token price.

2️⃣ Enhanced EVM Compatibility Boosts Market Confidence The EVM compatibility feature of Merlin Chain brings significant advantages. This allows developers in the Ethereum ecosystem to easily migrate or expand their applications to Merlin Chain, thereby increasing the platform's potential application range and user base. The market's recognition of this feature is reflected in the positive performance of the MERL token price.

3️⃣ Implementation of ZK-Rollup Technology Enhances Efficiency The ZK-Rollup technology implemented by Merlin Chain effectively improves the efficiency and scalability of the network. This technological innovation not only enhances transaction processing speed but also strengthens the overall performance of the network, providing users with a better experience. The positive market response to this technological advancement may be one of the important factors driving the rise in MER price.

From a technical perspective, the price of MERL has broken through previous resistance levels, showing strong upward momentum. However, investors still need to closely monitor the overall market trend and potential retracement risks.

This message is not an investment advice; investors should be aware of market volatility risks.