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Merlin takes the lead among Bitcoin layers 2 with the highest volume of BTC deposited
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The cryptocurrency market has seen an advance in Layer 2 (L2) solutions in the Bitcoin ecosystem, and Merlin Chain emerges as the undisputed leader among these platforms.
With a significant volume of Bitcoin (BTC) deposited, Merlin stands out for its robustness and innovation in the sector. While other Bitcoin L2s grow at a slower pace, Merlin continues to expand its user base and secure its prominent position.
According to recent reports, Merlin Chain holds between 7,000 and 9,000 BTC deposited, with a peak of over 11,000 BTC a few months ago.
This makes Merlin the leading L2 in terms of BTC volume locked, surpassing competitors like Stacks, which currently has 3,242 BTC. This leadership position results not only from its pioneering spirit, but also from strategic partnerships that expand the platform’s reach.
Merlin takes leadership among Bitcoin layers 2
Merlin Chain offers Ethereum Virtual Machine (EVM) compatibility, allowing developers to create and run decentralized applications (dApps) on its network.
Additionally, Merlin has partnered with Particle Network, enabling native Bitcoin wallets to be used on other EVM-compatible networks, facilitating the integration and use of BTC across multiple platforms. This functionality offers BTC holders opportunities to participate in decentralized finance (DeFi) activities and earn passive income, something that attracts many investors.
Another aspect that sets Merlin apart is its focus on decentralization. Although it currently uses a side-chain architecture, Merlin plans to implement zero-knowledge proofs (ZK proofs) in the future, as technological advances allow this transition. With this, the network seeks to consolidate itself as an even more secure and decentralized platform, reinforcing its commitment to innovation.
The liquidity accumulated in Merlin’s native DEX (decentralized exchange) also reinforces its importance in the L2 scenario. With approximately $24 million in liquidity, the platform offers users a solid infrastructure for trading and other financial services.
This puts it in a prominent position compared to other Bitcoin L2 solutions, which are still looking to grow and gain traction in the market.
While Layer 2 solutions on Bitcoin continue to face challenges, such as a lack of clarity around BTC’s need for scalability, Merlin stands firm as an industry leader. While most Bitcoin users use it as a store of value or for simple transactions, Merlin and other L2 are creating a robust ecosystem that promises to expand the uses of the world’s largest cryptocurrency.
Merlin takes the lead among Bitcoin layers 2 with the highest volume of BTC deposited
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Merlin takes the lead among Bitcoin layers 2 with the highest volume of BTC deposited
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Merlin takes the lead among Bitcoin layers 2 with the highest volume of BTC deposited
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Merlin takes the lead among Bitcoin layers 2 with the highest volume of BTC deposited