A significant spike in MERL futures premiums has been observed, reaching a staggering 45% above the spot price as of October 26, 2025. This unusual premium is being cited by analysts as a potential indicator of speculation or liquidity concerns. The increase comes amidst a surge in MERL’s spot price, currently surpassing $0.58. No official statements from Merlin Chain leadership have been released regarding this market activity. 46% intraday jump in the MERL spot price highlights investor confidence. However, a lack of liquidity data (TVL) and official announcements on funding remain unknown. Expert opinions suggest the large spread may signify speculative activities or limited market depth. Notably, major cryptocurrencies like Bitcoin and Ethereum have not yet reacted significantly to this event.