Monad (MON) has surged approximately 13% in the past 24 hours, driven by a combination of strong community support, a spike in trading volume, and significant infrastructure news. The rally occurred despite broader market pressure, with Monad's 24-hour trading volume skyrocketing over 140% to surpass $160 million, indicating concentrated buying interest.
The price momentum was fueled in part by the introduction of the Nitro accelerator, which opened opportunities for developers across all blockchains. The accelerator program promises to turn funded crypto projects into global products, with developer teams receiving around $500,000 in funding from top venture capital firms.
On-chain metrics show strength, with Monad's Total Value Locked (TVL) rising since its December 22 launch, reaching $628 million—a more than 4% increase. The stablecoin market cap on Monad has also grown past the $444 million mark, while DEX volume remains consistent at slightly below $100 million.
In a separate but related development, crypto infrastructure company Zerohash has added support for the Monad blockchain and USDC on Monad, aiming to expand stablecoin payments on the Layer 1 network. Zerohash, which recently reached a $1 billion valuation, enables its clients—including prediction markets platform Kalshi, HR management platform Gusto, and trading platform Public—to build stablecoin-based payment flows without running their own blockchain infrastructure or securing regulatory licenses.
Raj Parekh, head of stablecoins and payments at the Monad Foundation, highlighted that Monad is "fast and dependable" and could help scale stablecoin payments with "near-instant finality." Mark Daly, chief business officer at Zerohash, noted that while Ethereum currently accounts for the largest share of stablecoin activity on their platform, they're seeing growing activity across other Layer 1s and Layer 2s as stablecoins expand into payments and settlement use cases.
Despite the positive developments, technical indicators suggest potential weakness. On the 4-hour chart, MON price traded sideways between $0.01679 and $0.01979, with the MACD bars reducing in size and the Chaikin Money Flow declining at -0.09, indicating fading momentum and capital outflow. The price broke above the range but was immediately rejected, signaling that the rally might not be sustainable without a successful breach of the $0.01979 resistance level.
