According to Blockworks, Merlinchain (MERL), a Bitcoin Layer 2 solution, has secured the 9th position among projects based on total locked up deposits (TVL), as per data from DeFiRama. Currently, Merlinchain's TVL stands at approximately $1 billion, marking a staggering 2,000% growth over the past 30 days. Blockworks noted that Merlin Chain enables the staking of wrapped BTC, providing users with points in return. These points are often associated with airdrops in the cryptocurrency market, indicating the recent surge in TVL may reflect heightened expectations. Additionally, Blockworks suggested that Merlin Chain's growth signifies increased interest from venture capitalists in the Bitcoin ecosystem.
Attended Bayero University, Kano
4moI agree!