Merlin Chain is a Bitcoin L2 ecosystem that uses ZK-proof transactions to scale Bitcoin, and offers many helpful features that support blockchain technology.

Bitcoin has been the leading cryptocurrency for years due to its vast user base and reliable price. However, this older 

 often struggles to provide users with cutting-edge services. Merlin Chain hopes to empower Bitcoin by adding key features. This 

 has the potential to make Bitcoin faster, more affordable and easier to use, and it's already attracted a lot of early investors. Keep reading to see how Merlin Chain works, and to learn more about its native crypto.

 ecosystem. This blockchain protocol uses 

 transactions to scale Bitcoin, and offers many helpful features that support blockchain technology, such as 

Merlin Chain was founded by a pseudonymous crypto enthusiast 

 who’s been working in tech spaces since 2013, primarily focusing on 

 technology. However, the creation of the 

 protocol attracted Jeff to the crypto space as he realized the growing interest in new, on-chain assets for Bitcoin. 

During his efforts to create an ecosystem in which people could design native assets linked to BTC, Jeff also started exploring Layer 2 technology and zero-knowledge proofs. Ultimately, all of these interests were combined in forming the Merlin Chain. 

The primary goal of Merlin Chain is to enhance Bitcoin's ability to serve its community by adding additional features to the main chain, thus helping Bitcoin remain competitive in the modern blockchain industry. Some of the many ways that Merlin Chain aims to improve Bitcoin include:

The underlying architecture of Merlin Chain is built on the concept of the zero-knowledge proof. This cryptographic algorithm allows a blockchain to verify that a transaction is correct without needing to explain how it knows. It cuts back on the amount of data that needs to be transferred between chains, greatly speeding up transaction times and reducing processing needs.

 to process and approve transactions on its independent blockchain. It then uses 

 to bundle these transactions into compact blocks that can be published quickly on the main Bitcoin blockchain. The result is a system that efficiently handles data off-chain before storing it on the main chain.

Following are the key features users can access through Merlin Chain.

This service is a helpful way of increasing scalability within the crypto space. DApps that require fast, affordable transactions can use Merlin Chain's ZK-rollups to quickly and easily handle large amounts of transactions.

Merlin Chain's decentralized network of oracles is used to move information on- and off-chain. People can use this service to collect Bitcoin information for their own applications, and to make sure their application data is placed back on Bitcoin. 

In the future, Merlin Chain hopes to increase its security by adding on-chain fraudproof mechanisms. Nodes from its oracle network will stake BTC to verify transactions. Other nodes will then be able to challenge a node's veracity and prove whether or not the transaction was conducted correctly. Anyone who can prove another node has been inconsistent will earn a reward as an incentive.

A big perk of Merlin Chain is that it's compatible with the Ethereum virtual machine. This allows users to easily work with the countless projects hosted on Ethereum, and developers can easily incorporate other services, such as Ethereum-based wallets, into their own Bitcoin projects.

 makes it easy to transfer assets back and forth between Merlin Chain and Bitcoin. Users can connect their wallets to the bridge to 

One of the fascinating things about Merlin Chain is that it provides more than just basic scalability services. This Layer 2 protocol includes a wide variety of blockchain tools, as follows.

 (DEX) that runs on the Merlin Chain, supporting both Merlin and Bitcoin tokens. In addition to assisting with transactions, MerlinSwap also provides the crypto community with 

 is the Merlin Chain’s launchpad. It incubates new projects, and helps developers build DApps on the Chain. Merlin Starter also provides asset support for various digital assets, including 

Throughout 2023, Merlin Chain has been focusing primarily on designing its system's framework. Once everything was up and running, it launched its mainnet in 2024. The project's plans for the near future focus on releasing its 

 system so that users will be able to stake tokens to generate interest through the system. 

Once this system is fully underway, Merlin Chain plans to enhance its projects by finalizing the public release for Merlin Bridge and other features. The team still hasn't announced a defined road map of exciting developments for 2025, but Merlin Chain’s social media indicates it will be trying to expand its ecosystem and get more DApps running on its Layer 2 protocol.

MERL is the native token for Merlin Chain. It provides a variety of different services in the crypto community, including functioning as a governance token and as a method of paying network fees. MERL is also used to manage staking rewards and provide liquidity for the network. Its 

 is slowly being released over four years (current circulating supply is around 225 million), and will be distributed according to the following plan:

MERL debuted in mid-April 2024 at a price of $1.31. Since then, the coin has been on a gradual decline. As of late April, MERL crypto prices had more than halved in value. Though there were some brief price spikes, the coin's value has been under $1 for quite some time. Its price was $0.532 as of May 6, 2024. 

Despite this lackluster beginning, some crypto experts believe the MERL crypto’s price will recover. So far, its pricing has been closely tracking that of BTC, so it's likely that MERL’s price will start to rise again when BTC’s does. CoinCodex data 

 will start to increase in May, reach $2.55 by 2025 and hit $3.41 by 2029. This positive sentiment is supported by DigitalCoinPrice data, whose analysts 

 will reach $1.39 by 2025 and hit $2.98 by 2029.

Looking to trade Merlin Chain tokens? Bybit now offers the MERL/USDT Spot trading pair and MERLUSDT Perpetual contracts. To get started, you’ll first need to 

, fund it with cryptocurrency and navigate to the 

Though the Merlin Chain coin doesn't seem like the next big thing on crypto exchanges, it still might be a decent choice for a discerning investor. Those who like to take the risk of purchasing overlooked coins and profiting from small fluctuations in price might enjoy MERL. Keep in mind that MERL is likely to be a volatile token, so investors need to exercise caution when purchasing it. Never put money into MERL or any other altcoin that you can’t afford to lose, and make sure you keep your portfolio as diverse as possible.

Merlin Chain hopes to provide valuable features that will be useful to the entire blockchain industry. The protocol has had some exciting developments and created helpful features for DApps. This crypto project is worth watching, but investors need to 

Intermediate

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Merlin Chain (MERL): A Bitcoin L2 With Cutting-Edge Architecture

Tensor (TNSR) is revolutionizing Solana's NFT trading infrastructure with innovative features and a community-focused model, becoming the second-largest NFT marketplace on Solana.

Tensor, an NFT marketplace built on Solana (

), created quite a buzz after the Tensor Foundation announced that rewards worth over $200 million for its season one, two and three airdrops were available for claim.

, TNSR, which generated over $640 million in trading volume within seven hours or so of its launch.

Such success is synonymous with the incredible performance of various projects within the Solana ecosystem, especially 

 that have raked in millions of dollars in trading volume upon launch.

So, what’s the hype around Tensor, and what does it bring to the crypto space?

Tensor is an on-chain marketplace built on Solana whose traders and creators can buy, sell and trade 

Tensor is the second largest Solana NFT marketplace after 

NFT enthusiasts can easily and conveniently 

 and manage their assets with Tensor’s innovative platform. Tensor has adopted a similar rewards model as 

), whereby users receive tokens distributed through 

Launched in July 2022, Tensor was created to offer traders deep liquidity and swift transactions for NFT trading, along with the opportunity to earn rewards.

The project carried out its first season of airdrops in September 2022, followed by a second season in March 2023, attracting a considerable number of participants. During the second season, activity on the platform briefly surpassed that of Magic Eden, as users increased activity while targeting the rewards.

NFT creators can also use the platform to add or remove NFT mints, and even to change the descriptions of the NFTs they’ve created. The platform also has a launchpad for Solana NFTs, such as pNFTs and compressed NFTs.

Tensor supports its creators through enforced royalties, whereby the buyer (taker) pays the royalties, a marketplace fee and the listed price. However, a collection can include optional royalties so the buyer can choose the rate of royalty they wish to pay.

 NFT collection, which consists of 10,000 NFTs that target Tensor’s die-hard community. By becoming a Tensorian NFT holder, you unlock various benefits, such as 

, becoming part of the Tensor community, and receiving rewards and exclusive merchandise. 

Following are the key features that are part of building the NFT infrastructure on Tensor.

Tensor AMM (also known as TensorSwap) is Tensor’s automated NFT marketplace, where trading NFTs is automated and has advanced order types. Think of it as an automated market maker (

), like those used in DeFi, but for NFTs instead of fungible tokens.

Unlike traditional NFT marketplaces, such as Magic Eden or 

, TensorSwap allows you to get paid. You can configure your maker fees and earn rewards for activities on the platform, especially setting orders. Best of all, you get to keep all the fees from your completed market orders. Additionally, TensorSwap helps to auto-manage your NFT portfolio by making sure you buy low and sell high in order to counteract emotionally charged trading.

Tensor Price Lock is an innovative feature that lets you 

 NFT prices by locking them in for seven days. When using this feature, you can be a taker (the one who buys a price lock) or a maker (the one who funds the price lock). Introduced on Jan 22, 2024, this feature allows those who fund price locks (in a similar way as liquidity providers in DeFi) to earn Tensor rewards from their NFTs.

Shared escrow is an innovative feature on Tensor that provides you with a capital-efficient way to bid for NFTs. You can place multiple bids, such as collection bids and trait bids, using the same pool of SOL tokens.

In order for the bid to remain fillable, you need to ensure that it’s less than or equal to the balance available on your shared escrow account. You can also activate purchase caps to set limits to the number of NFTs a particular order buys, protecting your shared escrow balance from being depleted.

YOLO Buy is a feature that lets you bid on your favorite NFT by placing a nonrefundable fee, which is a percentage of the listed fee. By placing more bids, you stand a better chance of winning the NFT, with up to 75% odds. The winner is determined through a free spin, whereby even those who lose the bid receive Tensor rewards. When an NFT is purchased through YOLO Buy, the maker (person who listed the NFT) receives 1.5% more from the purchase.

TNSR is Tensor's governance token, used to empower the community that manages key protocols on the platform. By holding TNSR, you can vote on various proposals, including those in the Tensor DAO that governs the proposal process. As a TNSR token holder, you also receive discounts on the platform, such as fees reduced by 25% if you list an NFT using TNSR.

TNSR has a total supply of 1 billion tokens. As with BLUR’s tokenomics, most of its total supply has been reserved for the community to power the airdrops program. The TNSR token allocation is as shown below:

You can buy Tensor on Bybit through its Spot trading platform as a 

 Spot trading pair, or on Bybit’s Derivatives platform as a USDT Perpetual contract (

 was $0.86, a 61.3% drop from its ATH of $2.23 on Apr 8, 2024, and an 15.8% increase from its ATL of $0.74 on May 1, 2024.

Price prediction experts are quite bullish on the future for TNSR. According to CoinCodex, TNSR’s price 

, though it sees a slight reduction to a high of $3.51 in 2030. Price experts on DigitalCoinPrice 

 on TNSR, believing the token will hit $$2.17 in 2025 and increase to $6.34 by 2030.

While these price predictions appear bullish, they aren’t a guarantee of TNSR’s future price. We highly recommend you 

 before investing in Tensor or any other altcoins.

Tensor has quickly become the second-largest NFT marketplace on Solana through its innovative approach of using blockchain technology to trade NFTs, and its community-focused model of rewarding members through airdrops.

Its innovative features, such as Price Locks and the TensorSwap AMM, could be game changers for the way NFTs are traded. As more liquidity continues to flow back into Solana, Tensor will be among the top projects to watch.

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Tensor (TNSR): Revolutionizing Solana's NFT Trading Infrastructure

A Solana ETF is a type of exchange-traded fund that offers a way for investors to gain exposure to the Solana ecosystem without directly owning SOL tokens.

The U.S. Securities and Exchange Commission (SEC) 

) on Jan 10, 2024 electrified the cryptocurrency community, 

. This landmark decision has opened the floodgates for speculation about the introduction of spot ETFs for other leading cryptocurrencies. Several issuers have already 

, a rising star in the blockchain arena, could also be a prime candidate for its own spot ETF. This article examines the feasibility of a Solana Spot ETF in the wake of Bitcoin’s ETF success. Explore the potential of a Solana Spot ETF while considering the lessons learned from Bitcoin’s ETF journey and the unique aspects of Solana’s blockchain technology that could influence its own spot ETF approval.

A Solana ETF is a type of exchange-traded fund that tracks the price of Solana's native cryptocurrency, SOL, offering a way for investors to gain exposure to the Solana ecosystem without directly owning SOL tokens.

A Solana ETF, if approved, would function as a regulated investment fund that follows the price of Solana’s native token, SOL, by directly holding these tokens in its underlying basket. The ETF would be traded on stock exchanges, so investors could buy and sell shares of the fund, just as they would with stocks. The value of the ETF shares would fluctuate with the market price of SOL tokens, providing investors with exposure to Solana’s performance without the need to directly purchase or store the cryptocurrency.

The mechanics of a Solana ETF would involve several key components:

The establishment of a Solana ETF would depend upon regulatory approval. This requires the ETF issuer to demonstrate that the fund meets all legal and regulatory standards, including those related to investor protection and market integrity. The SEC’s stance on cryptocurrency ETFs has been cautious, but the recent approval of Bitcoin Spot ETFs has set a precedent that could pave the way for other cryptocurrencies such as Solana.

The current landscape of Solana ETFs is filled with anticipation and a few options for those eager to get in. While there aren't any official Solana ETFs approved yet in the U.S., there's a lot of talk about the possibility. People are particularly hopeful following the SEC's approval of Bitcoin Spot ETFs, whose funds directly hold BTC.

Although the exact timeline for approval remains uncertain, experts believe that Solana could hit the crypto spot ETF market in 2024. They're keeping a close eye on the SEC's decision regarding potential Ethereum Spot ETFs, 

, which could set a precedent for Solana ETFs.

In the meantime, investors looking to get a piece of the Solana action can turn to products such as 

 (VSOL), which are available in certain regions. In Canada, 

 is getting ready to launch a Solana Spot ETF, which could be the first of its kind in North America.

The excitement around Solana ETFs comes from the blockchain's increasing adoption, its technological advancements and its attractiveness as an investment. Nevertheless, getting ETF approval is anything but straightforward, as the market needs clear structures to support them and there are numerous regulatory hoops to jump through.

Still, with the growing interest in crypto ETFs, there's a reasonable chance of Solana ETFs becoming a reality soon. When they do, they'll offer investors a new way to tap into Solana’s exciting blockchain platform.

Chances of Solana ETF Applications Being Approved

As mentioned above, approval for Solana ETFs depends upon a few key factors, including the regulatory landscape. Right now, it seems like getting the green light for a Solana ETF in the U.S. might be a long shot. Tellingly, no company has yet applied for one to the SEC.

Instead, all eyes are on Ethereum. Several companies, including big names like Franklin Templeton and 

s. The SEC is expected to decide on these applications this year, a decision that could hold sway over the fate of Solana ETFs.

However, there's a twist: The SEC sees Bitcoin differently because of its 

 (PoW) consensus mechanism, whereas Ethereum and Solana are both 

 blockchains, making approval trickier. The SEC is still investigating whether Ether (ETH) is a security, which would open up additional compliance requirements for the asset.

 because it aims to play a similar role in the blockchain world. It boasts compelling features, such as fast transactions and low fees. Therefore, if Ethereum gets the thumbs-up, it may bode well for Solana, too. The anticipation is that if a Solana ETF gets the go-ahead, it could see a wave of inflows, much as Bitcoin did.

What Will It Mean If a Solana ETF Application Is Approved?

If a Solana ETF application were approved, it would mark a significant moment for the crypto world, especially for Solana itself. 

Investors would gain the ability to effectively buy Solana's token, SOL, through a regulated investment product traded on stock exchanges. This could bring more liquidity into Solana, make its token easier to access and provide some regulatory clarity — all of which could attract larger institutional investors.

Looking at the impact of Bitcoin ETFs on the crypto market, we could see a similar rush of mainstream adoption if a Solana ETF were to be approved. Being able to invest in Solana from a typical retail or institutional brokerage account would open the door for larger inflows.

However, since the SEC is still trying to determine whether Ether is a security, it will almost certainly have ruled on this issue before approving a Solana ETF. 

The SEC's January 2024 approval of Bitcoin Spot ETFs has sparked excitement over the potential for a Solana ETF, a possibility that could make investing in the SOL token more accessible for everyone. Although no applications are in the U.S. pipeline yet, the anticipation in the industry is undeniable. Approval would mark a major milestone, with an impact potentially similar to that of Bitcoin's Spot ETF approvals — and the promise of bringing more institutional players into the cryptocurrency market.

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Solana ETF: The Next Contender After BTC and ETH Spot ETFs

Mysten Labs, the creator of the Layer 1 Sui protocol, celebrated its mainnet's first anniversary with significant growth and notable partnerships with major tech companies like Google and TikTok's parent company, ByteDance.

Daily Top Performer — Near Protocol (NEAR)

Last week, the SPX index is up 0.55%, and the jobs report for April indicated a slowdown in hiring, which fell short of expectations and was lower compared to March. Additionally, Berkshire Hathaway reported a significant reduction in its Apple holdings at its annual shareholder meeting. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 0.35% and 0.26%, respectively in the past 24 hours.

Today’s outperformer is NEAR, which jumped 8.0% after 

 enhances ecosystem scalability with NEAR Protocol Data Availability integration.

Near Protocol (NEAR), launched on April 2020, is a decentralized platform using sharding for efficient app development and operation. Prom has announced the integration of the NEAR Protocol Data Availability (DA) solution into its ecosystem. This strategic move aims to enhance scalability for rollup developers by offering low-cost, reliable, and high-performance data availability. The integration allows for greater flexibility in addressing blockchain architectural constraints and promises more updates in the future.

Check Out the Latest Prices, Charts, and Data of 

Mysten Labs, the creator of the Layer 1 Sui protocol, celebrated its mainnet's first anniversary with significant growth and notable partnerships with major tech companies like Google and TikTok's parent company, ByteDance. The CEO of Mysten Labs, Evan Cheng, expressed optimism about the future of blockchain technology, predicting a transformative "

" for web3. The company announced new ecosystem partnerships focused on enhancing security and scalability with Alibaba Cloud and Google Cloud, and developing web3 gaming and other digital initiatives with BytePlus. Despite facing stiff competition from other blockchains and having fluctuated in the rankings of total value locked (TVL), Sui remains a strong contender in the blockchain space, boasting robust transaction volumes.

Prices dropped from around $64,000 to below $57,000, with significant ETF outflows peaking at $563.7 million on May 1. Concurrently, Grayscale’s GBTC saw major outflows, while some ETFs like Ark Invest’s ARKB experienced inflows. 

 for its upcoming ZRO token airdrop, an essential milestone in the protocol's development aimed at fostering cross-chain interoperability. The airdrop, set to occur in the first half of 2024, has sparked significant anticipation within the DeFi community, evidenced by trading activity on Hyperliquid DEX, where ZRO's perpetual futures are priced at $8.4, indicating a $17 billion valuation. However, concerns persist about the potential adverse effects of Sybil users, who may exploit the airdrop for short-term gains, as seen in other recent airdrops, which could impact ZRO's price stability post-launch.

Beginner

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Mysten Labs Celebrates Sui Protocol's First Anniversary with Major Partnerships and Optimistic Outlook for Web3

Trading

Candlestick

An inside bar pattern is a two-bar price action pattern in which the second bar is completely engulfed or covered by the first bar of the pattern. 

Inside_Bar.png

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bearish-inside-bar.png

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Chart reading is a vital skill for crypto traders, enabling them to make informed trading decisions. One such pattern is the inside bar, which indicates a pause in the market’s trend. Over the next few minutes, we’ll delve into the anatomy of the inside bar chart pattern, how to spot it on candlestick charts and strategies for trading this pattern in crypto markets.

An inside bar pattern is a two-bar price action pattern in which the second bar is completely engulfed or covered by the first bar of the pattern. The formation gets its name from the second bar, consisting of a smaller range contained within the previous bar, therefore making it “inside.”

How to Spot an Inside Bar Candlestick Chart Pattern

The inside bar candle pattern can form within a trending market and even during consolidation. It can easily be spotted with a bar chart or Japanese candlestick chart.

Look for a large candle followed by a smaller inside one on a daily chart time frame. The inside bar pattern can also be found on a smaller time frame, though it may produce false signals.

When you see the inside bar form, take note of the preceding trend direction. A reliable inside bar candle pattern generally breaks in the direction of the larger trend, except when it’s near support or resistance.

Also, look for the smaller inside bar to form in the upper or lower half of the first bar, as that will indicate the potential that it’s a continuation pattern.

By itself, the inside bar chart pattern doesn't indicate whether it’s bullish or bearish. You'll need to analyze the bar pattern using other technical tools, such as 

Two situations generally lead up to a bullish inside bar pattern.

First, when the larger trend is up, look for a large bullish candle in the mother bar position. If the second candle forms within the upper half of the mother candle’s range, then we’re likely to see a bullish breakout. 

The second bullish inside bar setup is when a large red mother bar forms near a horizontal or trend line support level. After the inside bar carves, anticipate a breakout above the high of the mother bar.

This second trade setup appears counterintuitive, but with technical support looming nearby, sellers will stop selling, and buyers will perceive the price as attractively low and begin to buy, leading to a potential shift in market dynamics.

The bearish inside bar chart pattern is similar to the bullish one, but in the opposite direction.

How to Trade the Inside Bar Candlestick Pattern

After spotting an inside bar candlestick pattern, planning the trade is fairly easy and straightforward.

Traders generally consider the inside bar candlestick to be a continuation pattern. That means traders anticipate a breakout in the direction of the larger trend. Thus, rather than buying a bullish break or selling a bearish break, traders filter their positions so that they’re trading solely in the direction of the larger trend.

Additionally, be mindful of any nearby support and resistance levels. The inside bar consolidation may be a result of support and/or resistance that may trigger a reversal.

Once you spot the inside bar chart pattern, identify the high and low prices of the mother bar. If the chart pattern is bullish, then wait for a break of the high. If the chart pattern is bearish, trade a break of the price support.

Advantages and Limitations of the Inside Bar

Inside bar patterns can form on any financial chart in any time frame. The signals generated on an hourly (or greater) chart time frame are generally stronger than the signals viewed on a minutes or seconds chart. As a result, inside bar patterns can be found frequently in markets, and it’s easy for novice traders to identify them.

The biggest limitation to the inside bar pattern is that it’s difficult to determine whether the market will continue trending in the same direction, or reverse. To overcome this obstacle, it’s important to include other technical clues. For example, if the inside bar forms near a trend line, then it will have a greater chance of reversing. On the other hand, an inside bar that forms just after a breakout has a greater chance of continuing.

The biggest difference between an inside bar and a 

 is the number of bars, or candles, included within each pattern. The inside bar is a two-candle pattern, while the pin bar is a single-candle pattern.

Mastering chart reading and recognizing price patterns like the inside bar can significantly enhance a trader’s decision-making process. While inside bars offer valuable insights into potential continuations and reversals, it’s essential to also consider other technical factors.

By combining inside bars with additional indicators, such as trend lines, traders can increase the probability of successful trades.

Candlestick Patterns Professional Traders Use

 — A curated list of candlestick patterns frequently used by traders

 — Learn the basics of candlestick patterns

 — (Chart basics: Trend, neckline, wedges)

Inside Bar Pattern: What It Is & How to Use It for Crypto Trading

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