Monad [MON] broke out of a confined sideways range, surging over 12% over a 24-hour period and establishing its position among the top blockchains by decentralized exchange (DEX) volume.
Monad recorded a daily DEX volume of $191.77 million, bringing its weekly sum to $595 million and its monthly total past $1.80 billion. This performance placed the network among the top ten major ecosystems alongside networks such as Solana, Ethereum, Base, BNB Chain, and Hyperliquid.
Network Activity and Liquidity Growth
Network activity metrics have trended upward since mid-July. Total Value Locked (TVL) increased from $1.205 billion to $2.677 billion, more than doubling in a single month. Additionally, the network's stablecoin market capitalization expanded from $482 million to $703 million.
User engagement also saw growth, with active addresses reaching 23.83K and daily transactions exceeding 6.23 million. Data from the Accumulation/Distribution indicator showed that selling pressure declined sharply from 867.67 million tokens to 15.84 million MON, while capital outflows decreased by more than half, moving from approximately $17 million to $8.40 million.
Technical Overview and Resistance Levels
The altcoin broke out of a two-and-a-half-month stagnation range between $0.01911 and $0.02424, trading above the Parabolic SAR to reinforce the breakout. However, the asset encountered resistance at the $0.03 level.
Market analysts note that the market structure remains bullish unless the price fails to hold above $0.02434. If bulls are unable to breach the $0.030 zone, the price could retest the breakout area at $0.02434.
