MON Token Rally Explodes 40% as Monad Mainnet Onboards 283% New Holders
The crypto market has a new star, and it’s skyrocketing. Monad’s native MON token is absolutely soaring, posting a spectacular 40% gain on its second day of trading. This powerful MON token rally comes directly on the heels of the network’s highly anticipated mainnet launch and a massive $105 million airdrop, creating a whirlwind of bullish momentum. The token is now aggressively pushing toward the $0.050 level, signaling that this might be just the beginning of its explosive debut.
Network Metrics Fuel the MON Token Rally
The numbers behind this MON token rally are staggering. According to HolderScan, the number of Monad wallet holders has exploded by 283% in 24 hours, skyrocketing from 2,400 to over 9,200. This isn’t just speculative trading; it’s rapid ecosystem growth. On-chain data from Nansen confirms massive organic usage, with the network processing over 4.2 million cumulative transactions in its first 48 hours. For beginners, this means real people are using the chain for its intended purpose—a strong sign of product-market fit for this new high-throughput, Ethereum-compatible Layer-1.
A Classic Bear Trap and Arthur Hayes’ Take
The launch wasn’t without drama, making the subsequent MON token rally even more impressive. Initially, MON dipped below its public sale price of $0.025, triggering panic selling from early Coinbase buyers and airdrop recipients. This turned out to be a classic “bear trap.” Within hours, the token rebounded violently, surging 50% and leaving early sellers in the dust. Even BitMEX co-founder Arthur Hayes, who criticized MON as “another low-float, high-FDV layer-1,” admitted he participated in early trading. He speculated that pure market momentum could potentially drive the token to a $10 valuation in this cycle.
My Thoughts
Monad is proving it’s more than just hype. The combination of blistering performance, EVM compatibility, and real user growth is a recipe for success. The initial volatility was a healthy flush of speculative excess. Now, with a stronger holder base and proven throughput, MON is establishing its value. While the float is low, the demand is very real. This could easily become a top-tier L1 if the ecosystem continues to develop at this pace.
