TLDR
- Monad’s MON token rose 46% to $0.0365 after launching at $0.025, recovering from an early dip to $0.02
- Coinbase’s first token sale drew nearly 86,000 buyers from over 70 countries, raising $269 million with 1.43x oversubscription
- The mainnet launched with support from major apps including MetaMask, Phantom, Curve, Uniswap, USDC, and USDT
- About 10.8 billion tokens entered circulation through airdrops and token sale, while 50.6% of supply remains locked until 2026-2029
- MON achieved $450 million in 24-hour trading volume with a market cap of $394 million and fully diluted valuation of $3.6 billion
Monad’s MON token launched on Monday with a 46% price increase. The token reached $0.0365 by mid-afternoon after starting at a sale price of $0.025.
The launch came after Coinbase closed its week-long public token sale. This was the first token sale conducted through Coinbase’s new platform.
The sale attracted $269 million in commitments. Nearly 86,000 participants joined from more than 70 countries.
The offering was oversubscribed 1.43 times its $187.5 million allocation. Coinbase reported that internal polling showed most buyers joined for long-term exposure.
The token dipped to $0.02 shortly after distribution. It then recovered through the afternoon trading session.
Token Distribution and Lock-Up
Around 38.5 billion MON tokens entered circulation at launch. These tokens went to ecosystem development.
The majority of supply remains locked. About 50.6% of total tokens are held by the team, early investors, and foundation treasury.
These locked tokens will begin vesting in the second half of 2026. The vesting schedule continues through 2029.
Airdrop wallet 0x676a, which received 5.61M $MON ($184K), panic-dumped 5.5M $MON for 131K $USDC at $0.0239 after $MON fell below its public sale price of $0.025.https://t.co/scEg2AaqXu pic.twitter.com/sieLHnXDfF
— Lookonchain (@lookonchain) November 25, 2025
The airdrop distributed 4.73 billion tokens. Around 76,000 wallets claimed 3.33 billion MON from this pool.
An additional 7.5 billion tokens unlocked from the Coinbase sale. The airdrop was valued near $105 million at early trading prices.
Exchange Support and Trading Activity
MON launched with support from major crypto applications. MetaMask, Phantom, Curve, Uniswap, USDC, and USDT backed the launch.
MON is listed on these exchanges, more coming soon: pic.twitter.com/1nkoSyxMJA
— Monad (mainnet arc) (@monad) November 24, 2025
Multiple exchanges listed the token immediately. Coinbase, Kraken, Bybit, KuCoin, Bitget, Gate.io, and Upbit all added MON.
The token’s 24-hour trading volume reached $450 million. This gave MON a market cap of around $394 million.
The fully diluted valuation stands at $3.6 billion. The strong liquidity helped support price recovery after the initial dip.
Some participants raised questions before distribution. They worried about Coinbase’s warning that “flipping” tokens could affect future allocations.
A Coinbase spokesperson clarified the policy. Withdrawing MON to use on the network does not count as flipping under their mechanism.
The token’s performance contrasts with typical airdrop patterns. Research shows nearly 90% of airdropped tokens decline within days of launch.
MON’s price climbed steadily despite the broader market downturn. Bitcoin fell below $90,000 last week as long-term holders sold more than 815,000 BTC over 30 days.
