On 24 November, the Monad mainnet and the MON token went live. At the time of writing, the coin’s market capitalisation stands at $365.8m, with a price of ~ $0.033.
The coin debuted at $0.025 — the ICO price on Coinbase, through which the project raised $269m from 86,000 participants. Minutes later, prices drifted lower, prompting some airdrop recipients to offload tokens.
Airdrop wallet 0x676a, which received 5.61M $MON ($184K), panic-dumped 5.5M $MON for 131K $USDC at $0.0239 after $MON fell below its public sale price of $0.025.https://t.co/scEg2AaqXu pic.twitter.com/sieLHnXDfF
— Lookonchain (@lookonchain) November 25, 2025
“A wallet that received 5.6m MON panic-dumped 5.5m coins for $131,000 in USDC at $0.0239 after the price fell below the ICO level of $0.025,” Lookonchain analysts wrote.
Others chose to sell as soon as the free MON hit their wallets, pressuring the price.
Monad Airdrop’tan aldığım 71K adet $MON tokeni MEXC üzerinden $0.031’e sattım ✅
Anlık fiyat $0.025! Yarın fiyat yükselse de üzülmem. Ekosistemde de doğru düzgün bir fırsat göremiyorum. Doğru hamleyi yaptığıma inanıyorum kendimce. Siz ne yaptınız?@monad https://t.co/zpWOxyISw9 pic.twitter.com/xXb74aP1sj
— NikkiSixx7 (@NikkiSixx_7) November 24, 2025
“Sold 71,000 MON I received via the airdrop at $0.031 on MEXC,” a user going by NikkiSixx7 shared.
Some large investors, by contrast, succumbed to FOMO and put millions into the Monad asset. One user spent $1.3m in USDC to buy 37m MON at $0.0364.
Whale 0x755b spent 1.35M $USDC to FOMO buy 37.04M $MON at $0.0364 six hours ago.https://t.co/RLDh40nVv7 pic.twitter.com/AFCCFtSxca
— Lookonchain (@lookonchain) November 25, 2025
Another whale opened a 3x leveraged long on 171.6m MON ($5.6m). The unrealised profit amounted to $654,000. According to analysts, the liquidation price is $0.022.
Daily trading volume in Monad exceeded $496m, according to CoinGecko.
Tokenomics
Total supply of MON is 100bn coins. An initial 10.8bn entered circulation. The allocation is as follows:
- ecosystem growth — 38bn MON;
- team — 26.9bn MON;
- investors — 19.6bn MON;
- public sale — 7.5bn MON;
- Gategory Labs treasury – 3.9bn MON;
- airdrop — 3.3bn MON.
At launch, tokens for investors, the team and the Category Labs treasury are locked for at least one year.
Grievances
According to the airdrop criteria, the Monad team distributed coins to active community participants, high-volume traders, holders of certain NFT collections, and so on.
A total of 235,000 wallets took part, after screening for sybils. At the current rate, the airdrop’s value came to $108.9m. Some users complained they received rewards disproportionate to their contribution.
I just received my third 3 figure airdrop of the year 🥳
I spent over six months contributing consistently through my comics, so I honestly expected a bit more. Still, I’m grateful. It might not be a huge amount, but it’s honest work.
Thank you @monad for the airdrop. I’ll… https://t.co/GqTiQsoZ3A pic.twitter.com/eKnBvdH7pE
— Barnabas (@GbiayeB) November 24, 2025
“I just received my third three-figure airdrop of the year. I spent over six months contributing consistently through my comics, so I honestly expected a bit more,” wrote a community member going by Barnabas.
Another user said they received $124 from the drop and jokingly invited everyone to McDonald’s at their expense.
Just claimed my Monad $MON airdrop
Anybody wants some McDonalds? I’m paying pic.twitter.com/JVlkmnzIZu
— Jeremy (@Jeremybtc) November 24, 2025
Others were satisfied with the airdrop.
I guess I should have sold my monad card for $60k on the arbitrum otc marketplace instead of waiting for the airdrop
Still free money for tweeting so I’m grateful
You live and you learn pic.twitter.com/G1E0kTEDjk
— david 🔛⛓️ (@davidonchainx) November 24, 2025
Technology
At launch, several well-known crypto projects were live on Monad, including the MetaMask and Phantom wallets and the decentralised exchanges Curve and Uniswap. The stablecoins USDC, USDT and AUSD are also available.
All of these apps have already deployed on Mainnet 🧵
— Monad (mainnet arc) (@monad) November 24, 2025
The network is compatible with the EVM, allowing developers to port Ethereum-based apps with ease. The stated throughput is 10,000 TPS.
Analysts at Nansen noted that less than a day after launch, Monad had processed 3.7m transactions. They also pointed to 153,000 active addresses and 18,000 contract deployments.
.@Monad went live less than 24 hours ago
It already cleared:
— 3.7M daily txns
— 153K active addresses
— 18K contract deploymentsThat’s higher day-one activity than most chains in their first year
🧵 👇 pic.twitter.com/ggUwfOyjx7
— Nansen 🧭 (@nansen_ai) November 25, 2025
“In just 24 hours, the network showed a level of activity that most blockchains take a whole year to reach,” the experts said.
In November, the team of the aPriori project on Monad was suspected of misappropriating the airdrop.