The world of decentralized finance (DeFi) continues to evolve, and one project that has steadily maintained its relevance is Enzyme (MLN). Originally launched as Melon, Enzyme has rebranded and refined its mission to become a leading Ethereum-based asset management platform. With real-time data showing the current MLN price at $8.98, now is an ideal time to dive into what makes this crypto asset unique—from its price trends and tokenomics to its practical use cases in the DeFi ecosystem.
Live MLN Price Analysis
As of the latest update, the Enzyme (MLN) price stands at $8.98**, with a 24-hour trading volume of **$5,132,845. Over the past day, MLN has seen a decline of 8.99%, and over the last seven days, it has dropped by 10.55%. Despite these short-term fluctuations, the market remains active, with a current market capitalization of $26,866,077 and a circulating supply of 2,991,678 MLN tokens.
Enzyme currently ranks #444 among all cryptocurrencies by market cap—a position that reflects its niche yet influential role in the DeFi space. While far from its all-time high of $270.05** (reached on January 4, 2018), MLN is still trading **399.82% above** its all-time low of **$1.80, which occurred on March 13, 2020.
All data is updated in real time, ensuring investors and traders have access to accurate insights for decision-making.
👉 Discover how DeFi platforms like Enzyme are reshaping digital asset management—explore more now.
What Is Enzyme (MLN)?
Enzyme (MLN) is the native utility token of the Enzyme protocol—an open, non-custodial asset management platform built on the Ethereum blockchain. It enables individuals and institutions to create, manage, and invest in Smart Vaults: automated investment funds governed by smart contracts.
These vaults support a wide range of investment strategies, including exposure to various DeFi protocols such as lending platforms, decentralized exchanges (DEXs), and yield aggregators. Users can either deposit assets into existing vaults or launch their own customized funds with specific risk profiles and objectives.
Originally known as Melon, the project rebranded to Enzyme in 2020 to reflect its expanded vision beyond simple fund management toward becoming a modular financial operating system for Web3.
While the name changed, the ticker symbol MLN remained unchanged, preserving brand continuity in the crypto markets.
Since Enzyme operates on Ethereum, users must pay gas fees in ETH for transactions. However, the protocol includes a built-in mechanism called the Melon Engine, which automatically converts ETH transaction fees into MLN at a premium rate and then burns those tokens. This deflationary measure helps regulate supply and supports long-term price stability.
Key Use Cases of MLN Tokens
The MLN token, compliant with the ERC-20 standard, serves multiple critical functions within the Enzyme ecosystem:
- Access to Smart Vaults: Holding MLN allows users to interact with and invest in Enzyme’s Smart Vaults.
- Vault Creation: Users who wish to launch their own investment vaults must pay fees in MLN, incentivizing demand for the token.
- Governance Participation: MLN holders can vote on key protocol upgrades, fee structures, and integration decisions—making it a core governance token.
- Fee Conversion & Burn Mechanism: As mentioned earlier, ETH fees collected from vault operations are converted into MLN and burned, creating periodic deflationary pressure.
This combination of utility and economic design gives MLN intrinsic value beyond mere speculation.
MLN Tokenomics: Supply and Inflation Model
Unlike many cryptocurrencies with hard caps, MLN is an inflationary token—meaning there is no maximum supply limit. However, its emission schedule has been carefully structured to balance growth with sustainability.
Initially, the protocol emitted 300,600 new MLN tokens per year at a fixed rate. But in 2021, a major upgrade adjusted this model: annual emissions now decrease by 20% each year, introducing a decaying inflation structure similar to Bitcoin’s halving cycles but applied differently.
Additionally, any unclaimed or inactive MLN rewards are automatically burned after two years, further reducing potential oversupply risks.
This dynamic approach aims to align incentives between developers, investors, and long-term stakeholders while maintaining enough liquidity for ecosystem development.
👉 See how tokenomics influence price trends in next-gen DeFi projects like Enzyme.
Frequently Asked Questions (FAQ)
What is Enzyme’s 24-hour trading volume?
The 24-hour trading volume for MLN is $5,132,845, indicating moderate market activity and investor interest.
What was MLN’s highest price ever?
MLN reached its all-time high of $270.05 on January 4, 2018, during the peak of the initial ICO boom.
What was MLN’s lowest price ever?
The lowest recorded price for MLN was $1.80, observed on March 13, 2020, amid the global market crash triggered by pandemic fears.
How does Enzyme generate value for MLN holders?
Value is generated through multiple channels: transaction fees paid in MLN, governance rights, vault creation costs, and the regular burning of converted ETH fees—creating both utility and scarcity-driven demand.
Can I stake MLN tokens?
Currently, MLN itself is not directly stakable in the traditional sense. However, users can gain exposure to yield-generating strategies by investing in Enzyme Smart Vaults that may hold yield-bearing assets.
Where can I securely store MLN tokens?
MLN, being an ERC-20 token, can be stored in any wallet supporting Ethereum-based assets. For maximum security, hardware wallets such as Ledger and Trezor are highly recommended.
Why Enzyme Stands Out in DeFi
In a crowded field of DeFi protocols, Enzyme differentiates itself through its focus on modular, customizable asset management. It empowers users to act as fund managers without needing institutional backing—a true embodiment of decentralized finance.
Its integration with top-tier DeFi protocols like Aave, Uniswap, and Compound allows vaults to execute complex strategies across lending, liquidity provision, and arbitrage—all governed transparently by code.
Moreover, Enzyme's transition from Melon wasn't just cosmetic; it represented a strategic shift toward becoming a foundational layer for decentralized investment infrastructure.
👉 Learn how platforms like Enzyme are empowering everyday investors in the Web3 era.
Final Thoughts
Enzyme (MLN) remains a compelling project for those interested in the intersection of decentralized finance and asset management. While its price has significantly declined from historic highs, its underlying technology, evolving tokenomics, and strong use case foundation suggest ongoing relevance in the crypto ecosystem.
Whether you're considering investing in MLN or exploring ways to manage digital assets through Smart Vaults, understanding both the technical and economic layers of Enzyme is essential.
With real-time price tracking, active community governance, and continuous innovation, Enzyme continues to be a noteworthy player in the next wave of financial decentralization.
Core Keywords: Enzyme price, MLN coin, crypto market cap, DeFi asset management, Smart Vaults, MLN tokenomics, ERC-20 token, Enzyme protocol