Recently, I looked at MERL @MerlinLayer2 and felt that its rhythm is quite different from other coins. I checked the data out of curiosity and realized that they have been quietly making moves? I estimate that most people have overlooked Merlin during this time! First, let's look at the chips: In the past 6 days, two major players withdrew over 98 million $MERL from exchanges (accounting for 10% of circulation). The key point is that this happened after the coin price rose 77% in 7 days, which is not a short-term bottom fishing, but more like a plan to hold for the long term. With fewer coins available for trading in the market, the subsequent price fluctuations will be smaller, and when new moves happen, the elasticity will actually be greater. Next, let's look at institutional cooperation: Nasdaq's CIMG and Merlin have set up a $55 million Bitcoin treasury, with the first batch of 500 BTC already on-chain earning interest. This is not just a simple brand collaboration; it...