Monad (MON) Launch Boosts Token Price 80%, Tops Crypto Market

The Layer 1 blockchain Monad (MON) launched successfully, causing a significant increase in its native token's value. MON became the top-performing asset among the top 100 cryptocurrencies by market cap within 24 hours of its launch.

Key Highlights

MON token reached an all-time high of $0.045, despite initial fundraising efforts falling short at $95 million out of a $187 million target.
The Monad blockchain launch reignited investor interest, leading to an over 80% rise in MON's value.
CoinGecko data shows MON's diluted valuation at approximately $4 billion, with a market cap near $440 million.
Mainnet launch included listings on major exchanges like Coinbase, Kraken, and Gemini.
Over three million transactions processed and more than 18,000 smart contracts deployed on Monad.
Trading volume for MON on Solana exceeded $87 million in 24 hours, surpassing its own platform and others such as Hyperliquid by 149%.

Despite a challenging market environment, Monad has shown strong performance, positioning it well in the cryptocurrency landscape.