The selling pressure of MLN is not too strong but because MLN has increased so strongly in the past few days, the weakening of the buying power is predictable. Currently, the MLN has conquered the $100 zone so in the next few days it will continue to accumulate then rally again to approach the $130 and $160 zones. However if it loses the 85$ zone it will be bad for MLN

🔴Buy : 97.5-102.5$ if A 🔴Buy : 83-87$. SL if B
🔴Sell : 127-133$. SL if A 🔴Sell : 156-164$. SL if A
🕯Timeframe : 1 Day 📈Red Arrow : Main Direction as BUY & SELL section 📉Blue Arrow : Back-Up Direction as BACK-UP section 🟩Green zone : Support zone as BUY section 🟥Red zone : Resistance zone as SELL section 🅰️A : The Close price of candlestick is Above the zone 🅱️B : The Close price of candlestick is Below the zone

  • Enzyme (Formerly Melon Protocol) is an Ethereum-based protocol for decentralized on-chain asset management. The protocol enables anyone to set up, manage and invest in customized on-chain investment vehicles.
  • Enzyme’s protocol token (MLN) operates as a mint and burn model. A fixed amount of 300,600 MLN tokens are issued annually, whose allocation will be decided upon in a vote. The primary goal of these tokens is to compensate maintainers and platform developers who are working on improving the Enzyme platform and its user experience.
  • Users pay an Asset Management Gas Unit (AMGU) in ETH to the Enzyme network for platform services, such as setting up a fund, requesting an investment, or executing an investment.
  • All ETH fees are sent to the Melon engine contract, which buys MLN/ETH and burns all bought MLN every 30 days. The AMGU price is set by the Enzyme Council DAO and can be adjusted based on the network environment.
  • Note that there is an ongoing discussion for a change in MLN token economics. Under the new proposal (MIP7), users will be charged management fees in MLN tokens, based on the AUM on Enzyme.
  • The protocol is governed by the Enzyme Council, which consists of the Enzyme Technical Council and Enzyme User Representatives. The Enzyme Council is responsible for preserving the users’ interests.
  • Note that neither the Enzyme Council, nor the token holders can impact the smart contract code that is used by a fund manager.
  • As at July 5th 2021, the total supply of MLN is 1,824,437 and the current circulating supply is 100%.