Enzyme
About Enzyme
The price of Enzyme (MLN) is $14.29 today, as of Sep 16 08:27 p.m., with a 24-hour trading volume of $2.20M. Over the last 24 hours, the price has decreased by -5.31%. Enzyme currently has a circulating supply of 1.45M and a market cap of $20.78M.
Melon (MLN) is the native cryptocurrency of Enzyme Finance: a decentralized asset management platform built on the Ethereum blockchain. The protocol is intended for people or entities to manage their wealth or the wealth of others on a customized blockchain, according to Enzyme’s white paper.
MLN (Melon) is an ERC-20 token (a fungible crypto token compatible with the Ethereum blockchain) that powers Enzyme, which was formerly known as the Melon Protocol. The token essentially facilitates asset management on decentralized finance (DeFi) apps. Users acquire the MLN token to build investment DeFi strategies.
The company distributed 1.25 million MLN coins between 2017 and 2018 and raised $2.9 million in an initial coin offering (ICO) in 2017.
The MLN price reached an all-time high of $258.26 in January 2018. Since then, MLN has generally outperformed larger cryptocurrencies such as bitcoin and ether, although it has been vulnerable to large price swings. MLN has a maximum supply cap of 1.82 million coins. According to crypto exchange Coinbase, traders typically hold MLN for about four days, making it a short-term speculative asset.