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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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#MERL#
Today I saw someone asking about the issue of Merlin. Let me share my opinion.
First, Merlin's online chip distribution, as mentioned many times before, the dealer's chips are not in their hands, and both retail investors and dealers are participating in the airdrop. There is no high degree of market control. Only by allowing the early airdrop to dump the market and later recover the chips can there be a possibility of a pump.
Secondly, Merlink Chain has locked up a large amount of assets, especially Bitcoin. This is a good thing. But it didn't stay. In other words, the project team did not leave any beneficial effects in Merlink Chain when unlocking. Although a large amount of assets are locked up on the surface, in reality, nothing substantial is retained, only the pressure of freeloaders.
Why didn't it stay? The native assets of Merlin Chain have no profit effect. They are all favourable when cashed in during the token issuance, which means they are unfavourable. For example, native assets like Voya and huhu, which have meme attributes, have been falling since their token issuance. If there is no profit effect for others to play on your chain, how is it possible for anyone to play?
The good thing about this is the arb chain gameplay. meme airdrops have a profitable effect.
Third, the timing of token issuance is when the market sentiment is at its worst and the market is not doing well. In fact, token issuance should be done when the market is doing well, so that there are dumb buying opportunities, diamond hands, and high sentiment. If tokens are issued when the market is bad and sentiment is low, it's basically gg.
Finally, whether it is the Bitcoin layer 2 or the Ethereum layer 2, these layer 2 cores still suck the blood of layer 1 assets. If layer 1 collapses, layer 2 will definitely not survive.
Is there still a future for Merlin? Most people ask this question mainly about the price of the coin. As long as Bitcoin can rise, projects with a Bitcoin ecosystem still have a chance. When the chips are collected, and the timing is right, we can pump it up, and then there will be a future.