Monad Token Sale Exceeds $130 Million Target
Monad's public token sale on the Coinbase platform has successfully raised over $130 million, reaching nearly 70% of its $187.5 million target by the sale's conclusion on November 23.
This event represents one of the most significant token sales since 2018, highlighting a notable surge in retail investor engagement and potentially influencing the market for Layer 1 blockchain assets.
Monad's token sale on Coinbase has surpassed the $130 million mark, achieving 69.6% of its $187.5 million fundraising goal. The project, led by Keone Hon and supported by investors such as Paradigm and Electric Capital, aims to establish a scalable Layer 1 ecosystem. Hon stated, "Our focus is on scalable, parallelized EVM for the next era of DeFi and dApps." The sale offered 7.5% of the total MON supply at $0.025 per token, establishing a Fully Diluted Valuation of $25 billion, as detailed in the overview of MON tokenomics and its economic model.
The sale demonstrates robust demand, with $23.2 million raised in the final 24 hours. The mainnet launch, scheduled for November 24, is anticipated to bring significant advancements to DeFi and dApps. This offering aligns with a broader trend of increasing retail participation, a shift influenced by compliance with post-2018 SEC regulations.
Monad's recent sale on Coinbase marks the largest public token offering on a U.S. exchange since 2018's regulatory impacts, signifying evolving market dynamics.
Evolving DeFi Landscape and Regulatory Considerations
According to current data, Monad (MON) is priced at $0.01 with a market capitalization of $6.66 million. The market shows 0.00% dominance, and its Fully Diluted Market Cap is $11.22 million. The 24-hour trading volume stands at $467,255, reflecting a -39.94% change. The 24-hour price change is -4.89%, with a more significant decline of -49.95% observed over the past 90 days. The circulating supply is recorded at 593,782,391 tokens.
The Coincu research team highlights the potential impact of financial regulations and technological advancements. With its focus on scalable DeFi and dApps, MON's mainnet launch could significantly influence future Layer 1 blockchain frameworks, fostering innovation within crypto-asset-tied economies.