Summary Alpha Mining: BTC sharply retreated after surging above $94,000, forming a lower high consolidation structure on the 4-hour chart, with the $90,000–$91,000 range shifting from support to resistance. ETH pulled back from around $3,400 but remains oscillating above $3,000. M surged over 46.63% last week, becoming the standout token; MERL and ZEC also gained 28.35% and 18.99% respectively, reversing the trend in the short term. On-chain Funds: Hyperliquid led with approximately $190 million in net inflows, reflecting a market consensus on on-chain perpetual contracts, high-frequency trading, and high capital efficiency infrastructure. The actual performance of the Stablecoin public chain Stable after its mainnet launch has been noticeably weaker than narrative expectations. In existing

Merlin Chain officials stated that its BTCFi ecosystem continuously and steadily generates profits on multiple chains, with income sources including stake and liquidity protocol. More than 50% of the income will be used to repurchase $MERL Token, aiming to return the value of ecosystem growth to the community.

According to Mars Finance news on September 16, the market data shows that MERL briefly broke through 0.23 USD, currently quoted at 0.225 USD, with a 24-hour rise of 47.81%.

BLAST Surges 3.41% as Community Activity and Volume Climb 17.64%, Signaling Strong Bullish Momentum MERL Sees $1B+ Daily Volume Despite Price Drop, Highlighting Intense Short-Term Speculation ISLM and TAIKO Maintain Steady Growth Amid Moderate Market Activity, Showing Early-Stage Strength Web3 t

MEME Launchpad BTC.Fun has become the first platform in the BTC ecosystem, supported by the Merlin Chain ecosystem, to provide users with low gas fee first and second layer Runes/BRC20 token issuance and trading services. Adopting a permanent locking mechanism, a certain proportion of MERL will be locked in the Liquidity pool every time a new Token is issued on the platform, serving as a driving force for the value appreciation of MERL. The launch of BTC.Fun is expected to upgrade the tokenomics of MERL Token, the ecological value of the Merlin Chain, and the user base, potentially ushering in a new era of secondary explosion in the BTC ecosystem Application Layer.

MerlinStarter's largest Launchpad platform launched a new IDO project $BitmapTokens on November 20th. By staking $MERL and $MSTAR, you can subscribe to $BitmapTokensToken at a 50% discounted price. $BitmapTokens is engraved on Block842069 as a RunesToken, with a fixed exchange ratio of 1 Bitmap = 10,000 $BitmapTokens. This IDO lasts for 3 days, and the token unlocking time will be distributed within three months. This is aimed at providing stronger liquidity for Bitmap Non-fungible Token, the pioneer of the BTC ecosystem, and promoting the activity of the BTC ecosystem.

> MERL can be used for governance, staking, paying network fees, Collator delegation, and other utilities. Editor: Karen, Foresight News Today, Bitcoin Layer2 project Merlin Chain officially opened the airdrop of its native token MERL and announced the MERL utility, token economics and distribution plan. What is the use of MERL? As the native token in the Merlin Chain ecosystem, MERL’s utilities include: Governance: MERL token holders have the power to shape the future of Merlin Chain by voting on key proposals; Staking: MERL can be staked to enhance the Merlin Chain