MERL Rallies 16% on Liquidity Inflow Amid Bitcoin Calm, Pullback Risks Emerge
The post MERL Rallies 16% on Liquidity Inflow Amid Bitcoin Calm, Pullback Risks Emerge appeared on BitcoinEthereumNews.com.
The MERL token, powering the Merlin Chain Bitcoin layer-2 solution, has surged 16% amid rising on-chain activity and liquidity inflows, reaching an all-time high open interest of $75.79 million. Holder count hit 173,800, signaling strong interest despite Bitcoin’s stable range. MERL’s perpetual open interest climbed to $75.79 million, up $27 million in one day, reflecting heightened market liquidity and bullish sentiment. Spot market accumulation continues, with $700,000 in net outflows from exchanges, limiting supply as investors build positions. The taker buy/sell ratio stands at 1.05, indicating buy orders dominate volume, though the accumulation/distribution indicator remains negative, hinting at lingering selling pressure. Discover the MERL price surge: 16% gain driven by liquidity boom and holder growth to 173,800. Explore on-chain metrics and risks for Bitcoin layer-2 investors. Stay updated on crypto trends today! What is driving the MERL price surge? MERL price surge stems primarily from a significant liquidity influx in the derivatives market, where perpetual open interest reached a record $75.79 million. This 16% rally occurs as on-chain activity rises, with token holders increasing to 173,800, even while Bitcoin trades in a narrow range. Spot investors’ accumulation further supports this upward momentum by reducing available supply on exchanges. How does increasing open interest signal bullish momentum for MERL? Open interest in MERL perpetual contracts expanded by approximately $27 million in a single day, underscoring robust market participation. This metric, tracked by platforms like CoinGlass, measures the total value of outstanding derivatives and points to growing liquidity. Data shows long positions outpacing shorts, fostering positive sentiment. According to market analysts from sources such as CoinGlass, such expansions often precede sustained price gains, though they can also amplify volatility if sentiment shifts. The taker buy/sell ratio of 1.05 confirms that aggressive buying drives trading volume, reinforcing short-term bullish pressure on the MERL…
