Price change (24h):
3.51%
High (24h):
$63438
Low (24h):
$60749
Volume (24h):
$35.82
Market Cap:
$614.55M
All Time High:
49.07% $124559.00
Oct 6, 2025
All Time Low:
43% $44390.00
May 17, 2026
40.06 %(1Y)
$63440
Price change (24h):
3.51%
High (24h):
$63438
Low (24h):
$60749
Volume (24h):
$35.82
Market Cap:
$614.55M
All Time High:
49.07% $124559.00
Oct 6, 2025
All Time Low:
43% $44390.00
May 17, 2026
Merlin Chain (M-BTC) is a cryptocurrency launched in 2024. It functions as a liquid staking derivative for Bitcoin, tethered to a native Layer2 network that extends the base chain’s security model into a sprawling multi-chain DeFi perimeter.
The protocol targets a stubborn inefficiency: Bitcoin’s monumental market capitalization remains overwhelmingly inert, locked out from the composability and yield opportunities that define programmable blockchains. By tokenizing staked BTC, Merlin enables that capital to flow through lending markets, liquidity pools, and cross-chain bridges without breaking the asset’s cryptographic bond to the original ledger.
Merlin Chain operates on its own blockchain, architected as a Bitcoin Layer2 that settles to the proof-of-work finality of the base layer. This design preserves the censorship-resistance and immutability of Bitcoin while offloading execution to a higher-throughput environment.
The token adheres to the ERC-20 standard on Ethereum, with dedicated deployments on Mode, Linea, and Lisk—each carrying distinct contract addresses. On Sui, M-BTC interacts with the MoveVM, and within the Kava ecosystem it exists as a Cosmos-compatible representation, reflecting an explicit multi-VM strategy rather than single environment lock-in.
The project launched on March 18, 2024. Its arrival coincided with a period of heightened experimentation around Bitcoin-native finance, and within its debut year, contract instances appeared across eight separate network ecosystems. That rapid fragmentation points to a deliberate cross-chain distribution model, not gradual expansion.
A core ambition persists: to reanimate Bitcoin’s utility. Instead of leaving the asset dormant in cold storage, Merlin aims to make it a productive, revenue-generating instrument—one that underpins DeFi legos while remaining firmly anchored to the security of proof-of-work.
M-BTC acts as the receipt token minted against locked Bitcoin, tracking the principal 1:1 while accumulating staking rewards programmatically. The token serves as the key that redeems the underlying BTC and captured yield, and it circulates as a collateral asset within integrated money markets and automated portfolio strategies.
Stakers deposit Bitcoin into Merlin’s bridge to mint liquid M-BTC, thereby earning yield from network fees and cross-chain incentive allocations. Liquidity providers supply M-BTC to automated market makers on chains like BNB Chain and Ethereum, deepening pair stability and capturing swap fees. Traders post M-BTC as collateral to borrow stablecoins, maintaining long exposure to Bitcoin while unlocking short-term liquidity.
Merlin Chain (M-BTC) has a maximum supply of 21,000,000 tokens. Currently, 9,694.95 are in circulation. With a market capitalization of $776,211,780, Merlin Chain (M-BTC) ranks #8,471 among all cryptocurrencies.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 07/07/2026 | $61,396.00 | $62,060.00 | $62,218.00 | $60,749.00 |
| 06/07/2026 | $60,487.00 | $61,503.00 | $61,596.00 | $59,712.00 |
| 05/07/2026 | $61,389.00 | $60,498.00 | $61,512.00 | $60,256.00 |
| 04/07/2026 | $60,230.00 | $61,390.00 | $61,469.00 | $60,207.00 |
| 03/07/2026 | $63,259.00 | $60,229.00 | $63,281.00 | $59,043.00 |
| 02/07/2026 | $58,402.00 | $63,297.00 | $64,481.00 | $57,668.00 |
| 01/07/2026 | $57,870.00 | $58,475.00 | $58,752.00 | $56,140.00 |
| 30/06/2026 | $57,242.00 | $57,841.00 | $57,853.00 | $57,113.00 |
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2015
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