Nearly 24% of circulating MERL is now staked

The amount of MERL staked on-chain continues to increase, with 232 million MERL currently locked, according to data from Lookonchain. This sum, valued at $71.5 million, represents 23.7% of the token's circulating supply. In contrast, only 91.84 million MERL, worth approximately $28.3 million, remain on centralized exchanges.