Data from @lookonchain: In the past 6 days, whales have withdrawn 98.24 million $MERL from exchanges (accounting for 10.03% of the circulating supply). Currently, a total of 232 million $MERL (23.7% of the circulating supply) has been staked, with only 91.84 million $MERL (worth 28.3 million USD) remaining on centralized exchanges. More subtly, this action occurred after a 77% surge in price over the past 7 days, completely contradicting the conventional logic of "taking profits at high levels." There are three possible reasons behind this "buying after a rise": 1. Asymmetric information advantage: Whales have a far superior ability to obtain information compared to retail investors, and their counterintuitive actions are often based on undisclosed fundamental changes. Simply put, they may know insider information that retail investors do not. 2. Liquidity control strategy: By withdrawing large amounts of coins and staking them, they artificially create an imbalance in supply and...
The on-chain staking volume of $MERL continues to rise, with a total of 232M $MERL($71.5M, 23.7% of the circulating supply) staked.
Currently, only 91.84M $MERL($28.3M) remains on CEXs.
Merlin Staking Wallets:
0x641485BE8efb0a13F151c9C324f3681907f10d59 0x63B824D5D5003F49F6A06750b2cD4D8c5972478e 0x86DeFa5290377A8bd0f0B409e7AB5Bbf98af4a0f 0x01A1f3597A548d02289365c196607563c33b43cc 0x69B53f717D78F6c73fEdba13976adB349f328C1e 0xC1f441E7B2d1A1ED1cAA933ea8428246bC473670 0x836E7142A6Bd55751dACB39D0D71c05E3ADAB717
12.89K
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