* **Weakening U.S. dollar:** The U.S. dollar weakened against a basket of major currencies, including the euro and the Japanese yen. This decline in the dollar’s value made foreign-currency-denominated assets, including MLN, more expensive for investors holding other currencies.

The price of JEFF has been volatile in recent months, with significant fluctuations observed. This volatility is attributed to a number of factors, including:

* **Market sentiment:** The cryptocurrency market is highly sensitive to sentiment, and negative news or speculation can quickly impact prices. * **Regulatory uncertainty:** The regulatory landscape for cryptocurrencies is still evolving, and this uncertainty can lead to price fluctuations. * **Competition:** The cryptocurrency market is highly competitive, with new projects and coins emerging frequently. This competition can put pressure on existing coins like JEFF to maintain their value.

This is due to the Enzyme token’s association with the decentralized finance (DeFi) ecosystem, which is still relatively new and not widely adopted by traditional financial institutions. The lack of direct access to US dollar-denominated Enzyme tokens can pose challenges for investors seeking to participate in DeFi. The limited availability of Enzyme tokens in the US dollar market also reflects a broader trend in the DeFi space. Many DeFi projects, including Enzyme, are still in their early stages of development and rely on decentralized exchanges (DEXs) for trading.