What’s Behind the 40% Monad (MON) Price Rally?

Layer-1 blockchain network Monad has stormed the crypto market with its native cryptocurrency MON, gaining 40% on the second day of launch.

The market sentiment remains upbeat following the mainnet launch on November 24, accompanied by a $105 million airdrop.

As of now, the MON price is eyeing a push above $0.050 for the rally to continue.

Monad Makes Strong Debut With Surge in Network Participation

Monad’s upcoming debut has triggered a sharp surge in network participation. In the last 24 hours, the number of Monad holders has gone up by 283%, from 2,400 to 9,200, as per data from HolderScan.

This rapid growth signals sudden interest in the project.

Monad holder count. | Source: HolderScan

The spike in Monad holders comes along with a significant rise in on-chain activity. Since launch, Monad has averaged more than 2 million daily transactions, and cumulative activity over the past 48 hours has reached 4.2 million, as per data from Nansen.

The sustained volume suggests organic demand. Early indicators show that the network is scaling effectively, thereby raising expectations for continued adoption.

Monad is a next-generation layer-1 blockchain offering full Ethereum Virtual Machine (EVM) compatibility, while offering high throughput and low latency.

It is designed to tackle scalability and efficiency limitations in existing blockchains.

The network has drawn significant attention following its launch, which included a $105 million airdrop and claims of processing up to 10,000 transactions per second. Monad aims to deliver a high-performance environment while maintaining full compatibility with the Ethereum ETH $2 925 24h volatility: 0.9% Market cap: $354.13 B Vol. 24h: $20.66 B ecosystem.

Will MON Price Rally Continue?

The recent MON price rally has been quite dramatic as the token briefly fell below its public sale price of $0.025, upon launch.

Early buyers on Coinbase reacted by selling at a loss, while airdrop recipients offloaded their tokens shortly after listing.

Within hours, however, MON rebounded sharply with a 50% price surge, catching many sellers off-guard, in what seems to be a classic bear trap.

The rally continued over the next two days, with the token doubling in value within 48 hours of its debut.

MON price surge and bear trap. | Source: TradingView

BitMEX co-founder Arthur Hayes weighed in on the launch of MON, describing it as “another low-float, high-FDV layer-1” entering the market.

Despite the criticism, Hayes said he participated in the token’s early trading.

He added that in the current market cycle, speculative momentum could drive MON price toward a $10 valuation.

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