Investors are watching the Monad token closely as MON goes live on mainnet with new listings on several centralized exchanges.
How did Monad launch and where is MON listed?
The Monad mainnet launched on 24 November 2025, immediately securing listings on Coinbase, Bybit, Upbit, and Bithumb. This coordinated rollout ranks among the most significant Layer-1 debuts of 2025. Moreover, the simultaneous access across multiple venues helped concentrate early trading activity into the first few hours of listing.
The debut followed an extensive public sale that raised $269 million from exactly 85,820 buyers. However, the initial trading session showed that even with broad distribution, tight circulating supply can amplify volatility when markets open.
What happened in the Monad public sale?
Coinbase ran the Monad public sale between 17-22 November, drawing demand that exceeded available tokens by 144%. This oversubscription underscored strong speculative interest in a new high-performance Layer 1 at a relatively low entry price.
Each MON token was sold for $0.025, bringing more than $188 million in new capital directly into the ecosystem. Moreover, that figure sits alongside the total $269 million raised, highlighting the scale of retail and institutional participation ahead of the mainnet launch.
How big is MON’s circulating supply at launch?
At launch, just 10.83 billion MON entered circulation. This amount represents only 10.8% of the full 100 billion MON total supply. That said, the relatively small free float versus the fully diluted valuation has already contributed to sharp intraday price swings as traders test available liquidity.
The constrained float means even moderate buy or sell pressure can move markets quickly. As early participants meet new buyers on centralized venues, order book depth becomes a key factor in short-term price behavior.
How volatile was MON’s price during initial trading?
MON began trading around its public sale level of $0.025. However, in the first hour, price data showed a brief spike above $0.03 before sellers stepped in and absorbed bid-side demand. This pattern reflected fast profit-taking from short-term participants.
A rapid pullback then pushed the token toward the $0.023 area, followed by a partial recovery as volume increased into the close of the opening session. By late afternoon, MON traded in the $0.024–$0.025 range, sitting just below the public sale valuation while markets worked through early volatility.
Moreover, rising volume signaled that price discovery was still underway, particularly as Upbit and Bithumb in Korea added liquidity. This additional regional depth helped smooth some of the sharpest moves, even as speculative flows remained elevated.
How does crypto exchange liquidity shape Monad token early trading?
The combination of multiple major listings and a low circulating float has placed significant emphasis on crypto exchange liquidity. When only a fraction of the 100 billion total supply is available, market makers and early holders exert outsized influence on price formation.
However, as more participants join and order books deepen, spreads may tighten and volatility can moderate. The balance between new inflows, vesting schedules, and broader risk sentiment will likely determine whether MON stabilizes near its initial range or establishes a new trading band.
What is happening with Monad token staking and rewards?
Monad staking launched on the same day as the mainnet, allowing holders to secure the network and earn rewards through its high-performance Proof-of-Stake design. With an initial APR in the 15–16% area, the protocol offers a meaningful incentive for long-term participants to lock tokens.
Users can stake directly with validators or delegate their holdings, depending on their technical comfort and risk preferences. Moreover, this early staking yield may attract holders away from trading, gradually increasing the portion of supply committed to network security rather than short-term speculation.
How does the Monad token supply affect valuation risks?
The full 100 billion MON supply implies a large fully diluted valuation relative to the present circulating amount. This gap has become a focal point for analysts, who are weighing potential unlock schedules against current trading levels. However, enthusiasts argue that network performance and adoption could justify a premium over time.
At the same time, concerns about insider concentration and allocation structure have created uncertainty around price sustainability. Some market participants fear that significant future unlocks could pressure the market if demand fails to keep pace.
Is Monad positioned as a credible Layer 1 competitor?
The mainnet launch positions Monad as a high-performance Layer 1 contender emphasizing parallel execution, low-latency state transitions, and Ethereum-compatible development. These technical features aim to attract both developers and users seeking faster throughput without abandoning existing tooling.
That said, the protocol must now demonstrate real-world traction, including stable infrastructure, active applications, and sustained on-chain activity. How it manages token supply dynamics, exchange trading, and ecosystem growth will likely determine whether MON can hold its current levels or face extended repricing.
In summary, Monad’s debut combines heavy demand, constrained circulating supply, and ambitious technical promises, creating a volatile but closely watched entry into the Layer 1 landscape.