Monad (MON) Price: Layer 1 Blockchain Surges 62% After Mainnet Launch

TLDR

• Monad launched its mainnet on November 24, releasing 10% of its 100 billion token supply through a token generation event
• MON price surged 62% from $0.033 to $0.047 in the past couple of days, currently trading at $0.04705
• The blockchain processed over 2 million transactions since launch, with token holders tripling within 24 hours
• Monad is an EVM-compatible Layer 1 blockchain that claims to handle over 10,000 transactions per second with average gas fees of $0.006
• Analysts predict MON could reach $0.10 if current demand continues, with immediate resistance at $0.048

Monad launched its mainnet on November 24 after nine months of testing. The launch marked a turning point for the project and its native token MON.

The price has climbed from $0.033 to $0.047 in recent days. MON currently trades at $0.04705, holding above the $0.047 support level.

The mainnet launch coincided with a token generation event. The project released 10% of its total 100 billion token supply during this event.

Token holders tripled within 24 hours of the launch. This rapid adoption shows strong interest from new investors entering the ecosystem.

The blockchain has processed over 2 million transactions since its introduction. During its test phase, the network handled over 2 billion transactions with average gas fees of $0.006.

Technical Specifications and Exchange Listings

Monad is an EVM-compatible Layer 1 blockchain. The network claims to process over 10,000 transactions per second.

MON has been listed on major centralized and decentralized exchanges. These include Coinbase, Upbit, and Kraken.

The token has avoided listing on Binance so far. Some analysts point to this as a factor in MON’s organic growth pattern.

The blockchain competes with other smart contract networks like Solana and Sui. Its focus centers on scalability and performance.

Price Targets and Support Levels

The 15-minute chart shows Monad forming higher highs and higher lows. The price is moving within an ascending channel.

Strong selling pressure appears at the $0.048 level. This represents the key resistance traders are watching.

If MON breaks above $0.048, analysts set a first target at $0.075. This would represent a 59% gain from current levels.

Some predictions suggest MON could reach $0.10 if demand continues. The token would need to break through the $0.050 level first.

A move below the $0.040 support could lead to a test of $0.035. Profit-taking might cause this type of pullback.

The broader crypto market has increased 3.37% in the past 24 hours. Bitcoin trades above $89,000 while Ethereum has moved past $3,000.

The post Monad (MON) Price: Layer 1 Blockchain Surges 62% After Mainnet Launch appeared first on CoinCentral.