According to Lookonchain, two whale addresses (0x7Dac and 0xB5eE) withdrew 98.24 million MERL worth approximately $14.9 million from exchanges over the past six days, indicating accumulation of MERL based on their on-chain tracking (source: Lookonchain on X, Sep 15, 2025). According to Lookonchain, the activity is evidenced by transaction records tied to the Merlin Chain explorer pages referenced for these addresses (source: Lookonchain on X, Sep 15, 2025). According to Lookonchain, the withdrawals consolidate large holdings off-exchange, aligning with the author’s stated view of whale accumulation in MERL (source: Lookonchain on X, Sep 15, 2025).

According to @ai_9684xtpa, a wallet suspected to belong to Justin Sun transferred 596.601 BTC, valued at $36.47 million, to Binance two hours ago. This BTC is part of a larger batch of 1000 BTC that was unstaked from Merlin Chain two days ago. Out of these, 500 BTC were deposited into an exchange on August 12, and the remaining portion was transferred today.