MERL Token Surges 121%: Mainnet Upgrade Impact Analyzed

2025-11-27

The past day has brought unusual excitement to the Merlin Chain community after MERL recorded a remarkable 121% rise within 24 hours. The sudden MERL 24h pump has pushed the token back into the spotlight, with traders and long term supporters watching whether the rally can hold.

The timing of the surge is closely linked to the latest Merlin Chain upgrade, which aims to improve mainnet stability and scalability at a moment when investor interest in Bitcoin layer two networks is steadily increasing.

The strong market reaction has led to renewed discussions about future ecosystem adoption, MERL TVL growth and market positioning amid shifting sector narratives.

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Mainnet Upgrade Brings New Confidence

⚠️ Mainnet Upgrade Notice

Merlin Chain will undergo a infrastructure upgrade to improve the scalability and fix some issues related with ZK performance.

⏰ Upgrade Start Time: November 26, 2025, 05:00 AM（UTC）
⏳ Estimated Downtime: 12 hours

During the upgrade, the Merlin…
— Merlin Chain (@MerlinLayer2) November 26, 2025

Merlin Chain announced an infrastructure upgrade scheduled for November 26, 2025 at 05:00 UTC.

The team expects a downtime window of about twelve hours, during which users can still view past transactions although new submissions will be suspended. Activity will resume automatically once the upgrade finishes.

The upgrade is intended to improve scalability and resolve performance issues related to zero knowledge proof operations. These improvements come at an important time, as the network continues to attract developers who are exploring Bitcoin based decentralised applications.

Confidence around the reliability of the network often translates into price reactions, a trend that appears to be playing out during the current MERL 24h pump.

Trading Volume and Market Performance

MERL 24h pump.

Source: CoinGecko

Market activity around MERL has risen sharply. Daily trading volume reached $171.8 million, representing an increase of 178.80% compared with the previous day. This jump indicates heightened participation across major exchanges and stronger interest from short term traders.

The token is still well below its all time high of $1.45, but it remains far above its historical low. MERL now trades 67.59% under its peak and more than 557% above its lowest recorded price.

With a circulating market cap of about $496 million and a fully diluted valuation near $990 million, investors continue to evaluate long term inflation risks as new tokens enter circulation.

Despite these concerns, MERL coin has outperformed both the wider market, which rose 3.20% over the past week, and the broader smart contract platform category, which has moved slightly lower. Strong momentum around the Merlin Chain upgrade appears to be a main contributor.

Technical Breakout Strengthens Momentum

MERL recently exceeded an important resistance zone around $0.434, which corresponds to the 23.6% Fibonacci retracement level. Traders observed that the RSI reached 65.68, indicating increased demand without entering extreme territory.

The MACD histogram also turned positive for the first time in several days, providing additional confirmation of upward momentum.

Short term volatility remains a factor, with 39% of the market cap circulating through trades over the last 24 hours.

This level of turnover is common in fast moving altcoin markets. Analysts are watching the $0.503 range as the next significant resistance. A strong daily close above that point could open the path toward the $0.583 extension level.

Exchange Activity and Token Unlock Effects

New listings have played a part in the token’s renewed visibility. MERL began trading on MGBX on November 4, which generated additional liquidity and speculative interest.

At the same time, the unlock of 36.14 million tokens on November 19 increased the circulating supply by more than 1.70%.

Token unlocks often carry dilution risk, yet MERL continued to rise despite the additional supply. This outcome suggests that current demand has been sufficient to absorb selling pressure.

Even so, the fully diluted valuation remains nearly twice the current market capitalisation, a reminder that long term emissions should be monitored closely.

What the Upgrade Means for the Ecosystem

The upgrade is expected to improve the performance of applications within Merlin’s Bitcoin based DeFi environment. Previous network improvements had led to notable increases in MERL TVL growth, which at one point surpassed $1.2 billion shortly after the mainnet launch.

The latest changes may encourage another wave of developers and users who prioritise low cost transactions and consistent execution.

Institutional support from exchanges has also contributed to market confidence. Bybit publicly confirmed support for the earlier network upgrade cycle that introduced ZK Rollup optimisations.

Such acknowledgments help shape sentiment at a time when Bitcoin layer two solutions are drawing broader interest.

FAQ

What is Merlin Chain Crypto?

Merlin Chain (MERL) is a Layer 2 solution for Bitcoin. It is designed to extend the capabilities and utility of the Bitcoin ecosystem. The protocol uses advanced technologies like ZK-Rollups, decentralized oracle networks, and fraud proofs to ensure scalability and functionality.

What's the future of Merlin Crypto?

Based on a predicted 5% annual price change, the price of Merlin Chain is forecasted to reach $0.48 by 2030 and potentially $0.78 by 2040, indicating a projected future of steady growth.

How to get Merlin BTC?

You can get Merlin Chain Bridged Wrapped BTC (Merlin) tokens by trading them on decentralized exchanges (DEXs). The most popular place to buy and trade the token is MerlinSwap.