MERL estimated 200,000

While everyone is still competing in merl today, the smart ones have already laid out the next round of trading competition tokens: bank, rex, puffer, agt, FHE. This round of limit trading is three times, so many people will use limit orders to trade. Limit orders are centralized and not on-chain, but the traded tokens are genuinely bought from the chain. This means that the chain has brought in incremental funds. As long as the project team does not act up, it will steadily push the price up, after all, only a small number of people will hedge.