Why Monad’s Price is Leading Today’s Rally Among the Top 100 Cryptos

In recent hours, strong market interest has driven the price of the Monad (MON) token to its highest levels since the project’s inception, placing the asset at the top of today’s performance charts.

Monad Debuts as the Top Performer Among the Top 100 Cryptocurrencies

The launch of the Layer 1 blockchain Monad (MON) took place on Monday, marking the official start of the mainnet and triggering a rally in the native token. In the 24 hours following the debut, MON emerged as the best-performing asset among the top 100 cryptocurrencies by market capitalization.

Already the previous week, the presale of Monad on Coinbase had begun, through the new token presale platform of the American exchange. The initiative had raised approximately 50 million dollars in a few hours, initially showing strong interest from investors.

However, after the first 12 hours, the enthusiasm waned. The total collection stopped at 95 million dollars, well below the ambitious target of 187 million USDC set for the operation.

How did the price of Monad move after the mainnet launch?

With the launch of the mainnet, interest in the project has reignited and the price of MON has responded strongly. The token has surged by over 80% compared to pre-sale levels, accompanied by substantial volumes on exchanges.

According to CoinGecko data, this movement has brought the project’s diluted valuation to approximately 4 billion dollars. Furthermore, consolidating the gains, the token managed to stay above 0.040 dollars, with a market capitalization close to 440 million dollars.

In this context, many traders are monitoring the Monad token price today to assess the sustainability of the movement against the weaker macro framework of the sector.

Equally noteworthy, on Tuesday morning MON reached a new all-time high (ATH) at $0.045, indicating a significant increase in demand compared to the previous hours. This achievement comes at a challenging time for the sector, with Bitcoin down more than 30% from its ATH of $126,000 recorded in October and Ethereum struggling to consolidate the key $3,000 threshold.

On which exchanges is the MON token listed?

The mainnet debut was accompanied by the listing of the MON token on several leading centralized exchanges. Among these are Coinbase, Kraken, and Gemini, which opened spot markets for the new asset coinciding with the mainnet launch.

This has immediately expanded access to liquidity for global investors, in stark contrast to other recent issuances that initially remained confined to a few platforms. Furthermore, the presence on multiple regulated markets helps to strengthen the project’s visibility among both retail and institutional audiences.

What were the on-chain results and activity of Monad?

Data from DeFiLlama shows that the enthusiasm around MON is not limited to the price chart. The blockchain has already processed over 3 million transactions from approximately 140,000 unique addresses, indicating a significant initial adoption.

Additionally, developers have deployed more than 18,000 smart contracts on the network, indicating a certain vibrancy of the application ecosystem from the very first hours of the mainnet’s existence. This level of activity is significant when compared to the launch of other Layer 1 chains in recent years.

Investors who participated in the initial sale were able to immediately liquidate their positions after the network launch. However, Coinbase issued a notice to discourage very short-term speculative selling, indicating that those who sell their tokens within the first 30 days might receive reduced allocations in similar future initiatives.

Why has Solana become a key hub for MON trading?

In parallel with the on-chain activity of the new blockchain, trading on other networks has shown significant dynamics. On the Solana blockchain, the traded volume of MON exceeded 87 million dollars in just the 24 hours following the launch.

This level of trading has surpassed the volumes recorded directly on the Monad network in the same time frame. Furthermore, the performance exceeded that of Hyperliquid (HYPE) by 149%, positioning MON ahead of platforms like KuCoin, Gate, Kraken, and Bitget in terms of overall volume.

Overall, these data have made Solana the fifth market by total trading volume on the token, considering all exchanges. This dynamic confirms how cross-chain liquidity continues to play a central role in the price discovery phase of new assets.

Short-term Outlook for MON After the Debut

The daily chart highlights that the most significant growth for MON has been concentrated in the last 24 hours, immediately following the launch of the native blockchain. That said, it remains to be seen whether the market will consolidate the current levels or if profit-taking will prevail.

Investors will closely monitor the evolution of volumes, developer activity, and the overall trend of the crypto market, key elements for assessing the stability of the rally triggered by the recent launch.