Ask about Merlins Seal · freeTotal Value Locked$425.18m
TVL by Chain
Bitcoin$425.18m
Ethereum$0
Arbitrum$0
Zkfair$0
Key Metrics
Market Cap$39.19m
$MERL Price$0.027
Fully Diluted Valuation$57.56m
$MERL Volume 24h$2.57m
CEX Volume$1.19m
DEX Volume$1.49m(57.92% of total)
Protocol Information
Merlin's Seal is an event associated with the Merlin Chain, focusing on the fair launch of its governance token, $MERL. Users stake assets to earn M-points, which are then used to determine the distribution of $MERL rewards
Methodology
TVL: Staking tokens via BitStable counts as TVLView code on GitHubCompetitors
Merlins Seal history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Feb 9, 2024 to Oct 24, 2026.
All-time high TVL: $2.648b on Mar 29, 2024. All-time low TVL: $274.4m on Feb 10, 2024.
Daily TVL, Sep 25, 2026 to Oct 24, 2026
| Date | TVL |
|---|---|
| Sep 25, 2026 | $452.11m |
| Sep 26, 2026 | $449.35m |
| Sep 27, 2026 | $450.74m |
| Sep 28, 2026 | $450.51m |
| Sep 29, 2026 | $445.49m |
| Sep 30, 2026 | $445.68m |
| Oct 1, 2026 | $446.51m |
| Oct 2, 2026 | $453.29m |
| Oct 3, 2026 | $451.95m |
| Oct 4, 2026 | $453m |
| Oct 5, 2026 | $461.93m |
| Oct 6, 2026 | $458.87m |
| Oct 7, 2026 | $456.79m |
| Oct 8, 2026 | $444.77m |
| Oct 9, 2026 | $436.35m |
| Oct 10, 2026 | $482.31m |
| Oct 11, 2026 | $482.51m |
| Oct 12, 2026 | $487.83m |
| Oct 13, 2026 | $474.03m |
| Oct 14, 2026 | $482.55m |
| Oct 15, 2026 | $472.82m |
| Oct 16, 2026 | $476.09m |
| Oct 17, 2026 | $430.88m |
| Oct 18, 2026 | $430.75m |
| Oct 19, 2026 | $433.78m |
| Oct 20, 2026 | $430.77m |
| Oct 21, 2026 | $438.11m |
| Oct 22, 2026 | $444.94m |
| Oct 23, 2026 | $428.74m |
| Oct 24, 2026 | $425.69m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.347b |
| Dec 31, 2024 | $926m |
| Jan 31, 2025 | $966.41m |
| Feb 28, 2025 | $789.43m |
| Mar 31, 2025 | $736.82m |
| Apr 30, 2025 | $832.75m |
| May 31, 2025 | $662.82m |
| Jun 30, 2025 | $685.7m |
| Jul 31, 2025 | $750.49m |
| Aug 31, 2025 | $708.17m |
| Sep 30, 2025 | $740.21m |
| Oct 31, 2025 | $697.33m |
| Nov 30, 2025 | $584.2m |
| Dec 31, 2025 | $563.46m |
| Jan 31, 2026 | $534.35m |
| Feb 28, 2026 | $415.5m |
| Mar 31, 2026 | $413.81m |
| Apr 30, 2026 | $454.23m |
| May 31, 2026 | $439.38m |
| Jun 30, 2026 | $358.9m |
| Jul 31, 2026 | $383.46m |
| Aug 31, 2026 | $416m |
| Sep 30, 2026 | $445.68m |
| Oct 24, 2026 (latest) | $425.69m |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $926m |
| Dec 31, 2025 | $563.46m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/merlins-seal
Frequently asked questions
What is Merlins Seal's TVL?
As of Oct 24, 2026, Merlins Seal has $425.18m in total value locked. TVL has decreased 5.8% over the past 30 days.
What chains does Merlins Seal operate on?
Merlins Seal operates on 4 chains: Bitcoin, Ethereum, Arbitrum, and Zkfair. Bitcoin holds the largest share at 100%.
What is the MERL token price and valuation?
MERL is currently trading at $0.027. Its circulating market capitalization is $38.88m, ranking it #712. Its fully diluted valuation is $57.1m. Supply currently stands at 1.43b circulating, 2.1b total supply, 2.1b maximum supply.
How has MERL performed recently?
MERL is up 2% over the past 7 days and down 5.4% over the past 30 days. Its all-time high is $1.45, reached on Apr 19, 2024. The token is currently 98.1% below that level.
How does Merlins Seal's TVL compare to similar protocols?
Among Bridge protocols tracked by DefiLlama, Merlins Seal ranks #17 by TVL. The category holds $62.427b across 158 protocols, and Merlins Seal accounts for 0.7% of that total. Similar protocols include SolvBTC, NEAR Intents, SoDEX Bridge, PumpBTC, Wan Bridge, NerveBridge, LayerZero V2, CCIP, Portal, and Unit.