The crypto space has just witnessed a significant milestone with the launch of Monad’s mainnet on November 24. This highly anticipated release comes after nine months of rigorous testing, positioning Monad as a potential game-changer in the blockchain ecosystem with its Layer 1 network technology and native token, MON.
Key Highlights of the Monad Mainnet Launch
Monad, an EVM-compatible blockchain, has set high targets. It boasts remarkable speeds, handling over 10,000 transactions per second with average gas fees remarkably low at just $0.006. During its testing phase, Monad processed over 2 billion transactions, showcasing its scalability and efficiency.
Accompanying the mainnet release, Monad’s token generation event introduced 10% of its total 100 billion MON token supply to the market, sparking notable community participation. The number of MON holders tripled within 24 hours, demonstrating growing confidence in the project.
MON Price Surge and Market Response
MON has experienced substantial market movement since the launch. Its value soared by 62%, climbing from $0.033 to $0.047. It is currently stabilizing above a key support level of $0.04705. Analysts identify $0.048 as a critical short-term resistance, with potential to rise towards $0.075 or even $0.10 if positive momentum persists.
Major exchanges such as Coinbase, Upbit, and Kraken have already listed MON, offering improved market access. However, its absence from Binance may have limited aggressive price fluctuations, potentially allowing for more organic growth. Additionally, MON is available on various decentralized exchanges, emphasizing decentralization within its ecosystem.
Why Monad Stands Out
The Monad blockchain positions itself as a strong competitor to networks like Solana and Sui, leveraging its EVM compatibility to appeal to developers experienced with Ethereum. With its low fees, high speed, and superior scalability, Monad holds promise as a robust network for decentralized applications.
This positive momentum aligns with broader market recovery trends, as leading cryptocurrencies like Bitcoin have surpassed $89,000 and Ethereum has crossed the $3,000 threshold. The growing optimism across the crypto market supports altcoins like MON, especially given its unique technical features and market positioning.
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Looking Ahead
With its performance metrics and market attention, Monad’s blockchain has proven itself promising early on. Its ability to compete with established networks while offering innovative technology makes it a project to watch closely. Investors and developers alike should keep an eye on Monad as it continues to gain traction in the thriving cryptocurrency space.
