How MerlinSwap looks today
Decentralized (DEX). Established 2024. Trust rank 410. Reported 24h volume 0.80 BTC.
Coverage: 11 active pairs across 10 tradable assets. Liquidity profile: Low. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 100.0%. Key pairs include M-BTC/WBTC, SOLVBTC/M-BTC, MERL/WBTC, MP/WBTC. Leading pair M-BTC/WBTC. Median spread on leading markets 0.62%.
Interpreting coverage and execution quality
Volume mix: WBTC is the largest tracked quote currency at about 72.3% of measured flow. Data scope: 12 tickers observed, with spread readings on 12 markets. Trust rank is a comparative marker across venues, while 24h BTC volume gives a practical sense of recent turnover. Coverage is a breadth check, more pairs and assets generally mean more choice when conditions shift. Concentration shows whether turnover is clustered in a small set of pairs or spread across the book. Median spread is a practical measure of how tight pricing tends to be on the leading markets. With a compact set of pairs, most activity tends to funnel into the leaders, so the top pairs list becomes especially important. A high top ten share suggests the venue is leader driven, so secondary pairs may react more during volatility. For venue selection, combine breadth, concentration, and spread conditions with the key pair.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy