Monad's MON Token Surges Over 35% Post-Launch Amid Broad Market Sell-Off

Monad's MON token defied a severe cryptocurrency market downturn by rallying more than 35% within 24 hours of its launch on November 24, 2025. The token opened trading around $0.025 and climbed to approximately $0.035, with early liquidity spreading across major exchanges including Coinbase, Kraken, Bybit, KuCoin, Bitget, Gate.io, and Upbit.

The launch coincided with Monad's mainnet going live, supported by integrations with MetaMask, Phantom, Curve, Uniswap, and bridged stablecoins USDC and USDT. A total of 76,000 wallets claimed 3.33 billion MON from a 4.73 billion-token airdrop, valued at nearly $105 million at initial prices, while an additional 7.5 billion tokens unlocked from Coinbase's inaugural public token sale. Coinbase's sale attracted 86,000 buyers across 70+ countries, was oversubscribed at 1.43 times its $187.5 million allocation, and drew $269 million in commitments, with most participants seeking long-term exposure.

MON's performance stands in stark contrast to the broader crypto market, where Bitcoin fell below $90,000 after long-term holders sold over 815,000 BTC in 30 days, and total market capitalization dropped by over $1 trillion since October. Analysts attributed MON's resilience to pent-up interest in Monad's high-performance, EVM-compatible Layer-1 design, a launch structure avoiding steep inflation, and limited immediate circulating supply—38.5 billion MON entered circulation, but 50.6% of total supply remains locked until vesting begins in late 2026. Early trading volumes reached $450 million, with a market cap near $394 million and a fully diluted valuation of $3.6 billion.