TL;DR

🗞️ Market Outlook & Analytics

• Bitcoin holds above key levels; potential for new highs if it stays above $105K.

• Altcoin liquidity low now, but could revive with Bitcoin momentum.

• Bitcoin ecosystem gaining traction post-Kraken listings; growing interest in BTCFi projects.

🪄 Merlin Chain Enhancements & Wizard Evolution

• The upgrade boosted TPS from ~20 to 200–300, enabling higher network activity.

• Merlin Wizard offers AI-powered on-chain insights and seamless BTC staking + cross-chain trading.

• Focus on making Bitcoin yield accessible for retail, with easy trading of meme tokens while anchored in BTC.

🏪  Exchange Listings & Market Expansion

• Listed on Coinone (Korea); pursuing more regulated exchanges and global listings.

• Planning broad market expansion ahead of next altcoin season.

• Altcoin funding is down, but established projects are expected to regain liquidity in H2 2025.

Summary

Market Outlook & Analytics

Market Sentiment and July Outlook

Jeff: Bitcoin showed strong resilience after nearing $100K, maintaining above key EMA levels, which supports a positive outlook for the summer. Although altcoins and meme tokens lack liquidity now, this shift concentrates momentum into Bitcoin. The main risk is large token launches like WLFI potentially draining market liquidity. Overall, if Bitcoin holds above $105K–$106K, a move toward new all-time highs is possible, which could revive altcoin and meme sectors.

Bitcoin Ecosystem Momentum Post-Kraken Listings

Jeff: Sentiment around Bitcoin ecosystem assets like MERL and DOG has improved significantly compared to last year’s skepticism. Early doubts are giving way to growing curiosity as people see these projects gaining traction. Listings on Kraken and discussions at major events show that Bitcoin staking and BTCFi concepts are evolving and here to stay. Now is an ideal time for users and builders to reassess and engage with the Bitcoin ecosystem’s ongoing growth.

Merlin Chain Enhancements & Wizard Evolution

Merlin Chain v12 Upgrade and Performance Improvements

Jeff: Merlin Chain’s previous TPS was around 20 to 30, with swap speeds even lower, limiting capacity during peak demand. After recent upgrades and pressure testing, TPS now reaches 200 to 300, greatly enhancing speed and efficiency. This improvement, combined with low gas fees, makes Merlin Chain well-prepared to support increased activity, token launches, and potential future market growth.

Merlin’s Product Focus and the Future of the Merlin Wizard

Jeff: Merlin began with the goal of making Bitcoin fun again by using NFTs and inscriptions like Ordinals. Although that excitement has faded for new users, the main focus now is BTCFi, making Bitcoin yield accessible to both whales and retail holders. The idea is to hold Bitcoin as the core of a portfolio, stake it to earn yields around 10 to 20 percent, and have the flexibility to trade meme tokens or other assets across multiple chains while staying anchored in Bitcoin.

The Merlin Wizard plays a key role. The AI-powered assistant that answers over 100 types of on-chain questions that are hard to find elsewhere, such as whale activity, token holder profits, and top trades on chains like Solana. The Wizard also supports cross-chain trading directly from Bitcoin, allowing users to buy and sell tokens and choose to receive Bitcoin or stablecoins. This makes it easier for retail users to trade and earn yield without managing multiple base assets.

Ultimately, the Wizard aims to become a multi-chain, AI-driven DeFi hub that simplifies complex data and trading strategies. It helps users use Bitcoin as their base asset for earning yield and engaging in active trading, similar to how sophisticated investors operate by cycling through opportunities but always returning to Bitcoin.

Exchange Listings & Market Expansion

Future with Wizard: Flexible Bitcoin Staking and AI-Powered User Experience

Jeff: When users spend some of their staked Bitcoin to trade memes or tokens, that portion temporarily stops earning yield until it’s returned to the vault. The great thing is, the entire process—from staking to trading—is seamlessly handled within the Merlin Wizard, removing the need to navigate multiple platforms.

The Wizard supports a broad range of financial AI queries, though usage is monitored because it currently doesn’t generate revenue, and API costs are covered by Merlin. Its AI capabilities allow users to access deep on-chain insights, but the team manages feature access to balance user experience and cost.

Looking ahead, Merlin envisions a future where crypto users enjoy a smooth, unified experience: a single wallet leveraging account abstraction lets users hold Bitcoin, stake it for yield, and trade tokens across chains—all powered by AI that delivers real-time insights and simplifies on-chain interactions. This integrated approach addresses the fragmentation and complexity many users face today, helping retain Bitcoin as the core asset while enabling active trading and speculation.

Merlin’s Listing Plans and Market Expansion

Jeff: We just got listed on Coinone, one of Korea’s three regulated exchanges, where deposits are open and trading is expected to start soon. We’re also pursuing listings on the other regulated exchanges. Beyond Korea, Merlin is already listed in Europe and on Kraken in the US, and we are actively expanding to more markets. Overall, we’re preparing for broad listings worldwide to position Merlin strongly for the next altcoin season.

Historical Price Patterns and Altcoin Outlook

Jeff: Similar price drops have occurred before, reflecting underlying market economics. I expect the second half of 2025 to be strong for altcoins as many projects have recently listed on major exchanges, leaving only a few big ones unlisted. However, poor altcoin performance over the past year has led most VCs, especially in Asia, to reduce or pause funding. With fewer new projects entering the market, liquidity will likely return to established projects with strong performance. Overall, industry sentiment is cautious, and we’ll watch developments over the next three to six months.