Here’s Why Enzyme (MLN) is Up 38% Today

MLN, the native token of Enzyme Finance, a decentralized digital asset management platform, has posted significant gains over the past 24 hours. According to data from CoinGecko, MLN surged by over 38% on Monday, reaching a price of $15.13. 

Why Is MLN Surging?

The token’s price spike came after Binance Futures, the futures trading arm of the leading crypto exchange Binance, announced that it would list MLN on its trading platform. Starting March 31, 2025, users can trade the MLN/USDT perpetual contract on Binance.

#Binance Futures will launch the USDⓈ-M $FUN and $MLN Perpetual Contracts at

🗓️March 31 2025, 08:30 (UTC) and 08:45 (UTC) respectively.

Read more ➡️ https://t.co/7DZPTuhNc6 pic.twitter.com/Gqc8P8ujba

— Binance Futures (@BinanceFutures) March 31, 2025

The exchange pointed out that the maximum funding rate for the newly listed contract is  +2.00% / -2.00%, with up to 50x leverage. Users can also access the trading pair on Binance’s Futures Copy Trading page within 24 hours of listing. 

Binance noted that it may adjust the specifications of the MLN/USDT contract, including funding fees and maximum leverage, based on market risk conditions. Meanwhile, Binance users can trade the asset across multiple margin assets available on the platform.

In addition to MLN, Binance Futures also listed FUNToken (FUN). However, the token’s price did not react positively to the announcement. It was down 30% at press time.

MLN’s Trading Volume Spikes After Listing 

Exchange listings typically contribute to major spikes in crypto prices, especially during volatile market conditions. Thus, following the announcement, MLN’s price rose 38% to $15.13, with its market cap surging to over $46.5 million. 

Additionally, with an MLN/USDT perpetual contract listed on Binance, the biggest crypto exchange by trading volume, the token’s trading volume spiked by 75% to $73.5 million. Currently, the token has shed some of its gains and is trading at $14.2 at press time.

Notably, the token is nowhere near its all-time high (ATH) of $258 recorded in January 2018. However, its current price is 624.4% higher than its all-time low (ATL) of $1.7 recorded in March 2020.

About Enzyme Finance

Enzyme Finance is an on-chain asset management protocol built on the Ethereum blockchain. Formerly known as Melon Protocol, Enzyme Finance helps users to create, manage, and share their crypto investment funds without intermediaries.

The platform seeks to provide a decentralized and secure trading system for both retail and enterprise-level investors. Enzyme Finance lowers the barriers to entry into the decentralized finance (DeFi) space with a comprehensive interface that simplifies access to multiple DeFi protocols and digital assets.

According to data from DeFiLlama, the protocol currently has over $91 million in total value locked (TVL). 

By leveraging smart contracts, Enzyme Finance allows users to manage their funds, execute transactions, and implement custom investment strategies. The platform’s decentralized autonomous organization (DAO), known as the Enzyme Council, empowers users to influence the protocol’s growth.

At the heart of Enzyme Finance’s ecosystem lies the MLN token. With a total supply of 3,001,239 tokens, MLN is used to process transactions on the platform.

The token allows holders to participate in the platform’s governance, allowing them to vote on the DAO’s governance proposals. MLN is also used to pay transaction fees and incentivizes users to carry out certain activities on the platform. 

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