Merlin Chain Debuts $MERL Token to Boost Bitcoin Layer 2 Functionality

Daily Top Performer — Arkham Intelligence (ARKM)

Last week, the SPX index is down 3.05%, the downturn followed robust US economic data and hawkish comments from Federal Reserve officials, solidifying expectations that interest rate cuts would be delayed, with some analysts predicting no rate cuts this year. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 0.31% and  0.19%, respectively in the past 24 hours.

Today’s outperformer is ARKM, which jumped 10.08% after Arkham Integrates Manta Pacific for Enhanced Blockchain Data Analysis and Monitoring.

Arkham Intelligence (ARKM), founded on 2020, one of the top-performing meme coins in March 2024, is a crypto intelligence platform that uses advanced techniques to link blockchain transactions to real-world identities, enhancing transparency and efficiency in the market. Arkham has announced that Manta Pacific is now integrated into its platform, enhancing its crypto intelligence capabilities. Users can now access and analyze data from Manta Pacific, including examining addresses and entities, monitoring DeFi activities like bridging, swaps, and lending, and setting custom alerts for on-chain activities. Additionally, Arkham provides tools to build custom dashboards for tracking entities, tokens, and DeFi protocols on Manta Pacific. This integration allows for detailed visualizations and real-time monitoring of significant transactions and on-chain volume, further extending Arkham's utility and scope in blockchain analysis.

Check Out the Latest Prices, Charts, and Data of ARKMUSDT Perp and ARKM/USDT Spot!

Talk of the Town:

Merlin Chain, a premier Bitcoin Layer 2 protocol, has introduced its native token, $MERL, following an impressive growth to $3.6 billion in total value locked (TVL). The $MERL token operates on the BRC-20 standard and enhances the platform's capabilities by enabling governance, securing the network, and facilitating transaction fee payments and collateral within the ecosystem. The token's total supply is 2.1 billion, with distribution plans including a 20% airdrop to Merlin’s Seal event participants, sales to public and private investors, allocations for advisors and the core team, and reserves for community engagement and ecosystem growth. Merlin Chain aims to broaden Bitcoin's use through innovative Layer 2 solutions, with $MERL set to be listed on multiple major exchanges, beginning trading on April 19, 2024.

Check Out the Latest Prices, Charts, and Data of MERLUSDT Perp and MERL/USDT Spot!

Spot Bitcoin ETF Flows:

This week, Bitcoin and its related spot exchange-traded funds (ETFs) are at the center of attention due to the coincidental timing of the Bitcoin halving event on April 20, a date notable for its meme significance, especially with the largest U.S. spot Bitcoin ETF experiencing 69 straight days of inflows. Despite a recent slowdown in ETF inflows since their March peak, significant funds are still being directed into these products, with inflows showing signs of resurgence at the end of last week. However, there are concerns regarding the mainstream adoption of Bitcoin ETFs, as recent data suggests these products are not extensively held, likening their use among asset managers to "hot sauce"—sparingly used but widespread. This contrasts with the ongoing modest outflows from other products like the Grayscale Bitcoin Trust (GBTC).

Airdrop to Watch:

The tweet by Airdrop Official provides a list of alternative cross-chain bridges for cryptocurrency users seeking potential airdrops, beyond the commonly used Stargate. The options include Nexus Bridge (Hyperlane) for bridging assets like Injective and Ethereum, LiquidSwap & Lumio (Pontem) using LayerZero Tech for bridging to networks like Aptos, and deBridge for most EVM chains and Solana. XSwap, powered by Chainlink’s CCIP, offers swaps across EVM chains with a point system for users. Squid Router covers nearly all EVM chains, and Bungee Exchange utilizes Socket Protocol for cross-chain messaging. The tweet emphasizes focusing on transaction count, frequency, and volume to maximize potential airdrop benefits and advises maintaining a selective approach rather than attempting to farm multiple airdrops indiscriminately.