Enzyme price overview
The current Enzyme price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Enzyme is based on a market capitalization of EUR. Enzyme has a circulating supply of . The highest recorded Enzyme price is EUR. And the lowest recorded MLN price is EUR.
How do Enzyme price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance.
Formerly known as Melon Protocol, Enzyme is an Ethereum-powered protocol for decentralized on-chain asset management. People and entities can create and scale vaults based on their chosen investment strategy, including robo, discretionary, market making, and exchange-traded funds. Alternatively, users can deposit their assets into an already-created vault to save time and effort – while still retaining full control over their assets. Investment strategies can be filtered by assets, performance, and risk, and Enzyme also provides access to the world of decentralized finance.
MLN is the protocol’s utility token and is used to pay for various functions throughout the vault creation process and investment lifecycle. The price of MLN has seen significant change since it joined the crypto market and if you want to know why then you’re in the right place. We’ve compiled everything you need to know about MLN price – as well as the factors which influence it.
Enzyme Price History
MLN launched with an initial coin offering in February 2017 and started trading later that month at about $40. After a volatile first month, an uptrend began in March which culminated in a peak of almost $118 in June. Prices had pulled back to below $40 a month later but started to rally again in November, reaching more than $130 by the end of the year. This represented gains of 225% since the token joined the market.
The rally continued into the first week of 2018, as MLN surged another 102% to its all-time high of $267.93 on January 5. The bullish momentum had been exhausted by that point and less than a fortnight later MLN plunged to little more than $100. Although a fresh burst of buying pressure pushed prices back up towards $250 a few days later, the rest of the year showed a mostly downward trajectory. After setting a series of lower highs and lower lows, MLN finished 2018 with a price of $7.60, having incurred a 97% loss in value since its January peak.
Following little change in January 2019, prices climbed to over $17.50 in February. However, the rest of the year was characterized by a gradual decline and MLN was trading at $2.89 by the close of 2019, meaning its price had fallen a further 62% over the course of the year.
2020 began more positively, with prices improving to about $8 towards the end of January. Less than two months later, however, MLN bottomed out at $1.79 after crashing more than 45% during a single day in March. Then began a period of steady growth which saw MLN reclaim $7 in June before briefly spiking to about $24 a couple of days later. After a month of consolidation, prices started to rally in July and reached a high of nearly $85 at the end of August. The following week saw MLN crash by two-thirds and it continued to fall until hitting a low of $17 in October. By the end of the year, the token had improved to over $26, providing returns of more than 780% since the start of 2020.
The upward trend became more prominent in 2021 as MLN reached $50 in January and $60 in February. The rally was even steeper in March and MLN ended the month above $120. The next couple of months were highly volatile. After peaking at about $134 at the start of May, prices retraced by two-thirds to a low about $45 later in the month. The first week of June then saw MLN surge by almost 120% to a high of $178. Around then, the market cap of Enzyme hit its all-time high of over $300 million. Most of those gains were lost over the next few days as MLN dipped back below $90.
Analyzing Enzyme Price History
MLN’s price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using the Enzyme chart and various indicators in order to make sense of previous price movements. With MLN, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.
Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Melonport, which built Enzyme Finance, raised $2.9 million in its ICO and one of its founders was previously vice president for equities trading at Goldman Sachs. This could be a good sign for the fundamental Enzyme value.
Broader market trends have also played a role in MLN’s price history. Its surges in 2017/18 and 2021 weren’t unique – the entire crypto market pumped around these times. Bitcoin was in the midst of major bull runs then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
MLN’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.
The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.
The overall price trend of MLN tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of Enzyme (MLN)
A variety of different things can affect Enzyme price, including project news and announcements, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.
MLN has no capped max supply and currently has an issuance schedule that sees 300,600 new tokens issued each year, which would put downward pressure on the price of MLN. However, the Enzyme Council is currently considering a proposal to alter the token economic model which would see token issuance drop 20% each year from 2021, reaching practically zero by 2040. Any MLN unspent for two years would be burned, along with fees for using the platform. This is intended to drive more value to MLN holders.
Demand for MLN is driven by its utility on the platform, where it is used to pay for various functions such as setting up a fund, requesting an investment, and executing an investment. The proposed tokenomic changes will see those fees paid in ETH, but that ETH will be sent to the Melon engine which will purchase MLN and burn it – so MLN price will still be affected by Enzyme Finance fee volume. The proposal would also introduce a tiered fee discount for MLN holders, with larger MLN holdings being given larger discounts. This could incentivize Enzyme users to buy and hold MLN, putting upward pressure on the token’s price.
It is proposed that Enzyme fees should scale directly in relation to assets under management, meaning more MLN will be burned as the amount of AUM grows. The success and number of users of the platform should therefore correlate with MLN price. Factors that drive platform adoption, such as protocol improvements, new integrations, and the popularity of DeFi in general, could therefore have a positive effect on MLN price.
Live Enzyme Value and Market Cap
The live Enzyme price varies from moment to moment as it’s dictated by the balance of buy/sell activity on exchanges, which is in constant flux.
Given MLN’s volatility, its current price can change by a large amount in a very short space of time. The market cap of Enzyme is equal to the price of MLN multiplied by the number of MLN in the circulating supply.
Enzyme Price FAQ
What is the highest Enzyme price in EUR?
Enzyme price history shows that MLN has recorded a peak value of EUR.
What is the lowest Enzyme price in EUR?
MLN price history shows that EUR EUR is the lowest recorded Enzyme value.
How can I buy Enzyme?
You can purchase Enzyme and over 290 different cryptocurrencies in seconds with Kriptomat, learn more about how to buy Enzyme. It’s available for immediate purchase at the current MLN price quote of EUR. Current prices are always displayed in the MLN chart.
What is the current Enzyme price in EUR?
Kriptomat data confirms that the current Enzyme price is EUR.
How is MLN price calculated?
MLN’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying MLN than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of MLN different on different cryptocurrency exchanges?
MLN’s price is based purely on trading as there is no standard global Enzyme price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will MLN be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of MLN. However, the proposed changes to the token economic model would see the price of MLN better correlate with Enzyme’s AUM, meaning the growth of DeFi popularity could boost MLN’s price.
Throughout its history, the price of MLN has seen much change, going from highs of almost $270 to lows of under $2. Its journey hasn’t been a smooth one, however, as MLN’s volatility has led to plenty of surges and crashes along the way.
Many different factors have played a role in determining the price of MLN, including the proposed changes to its tokenomic model, the number of users on the Enzyme platform, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Enzyme and cryptocurrencies!