MON (Monad) fell 15.80% in the last 24 hours

Gate News Bot message, on November 28, according to CoinMarketCap data, as of the time of writing, MON (Monad) is currently priced at $0.04, having fallen 15.80% within the last 24 hours, with a high of $0.05 and a low of $0.02. The current market capitalization is approximately $407 million, a decrease of about $76.38 million from yesterday. MON is currently ranked 112th in the market capitalization of Crypto Assets.

Important news about MON recently:

1️⃣ The ecosystem develops rapidly after the mainnet launch The Monad mainnet officially launched on November 24, with multiple ecosystem projects deployed immediately. FastLane Labs introduced a points system to reward contributors, and platforms like Clanker also went live on the first day. Within 48 hours of the mainnet launch, FastLane's TVL surpassed 100 million USD, indicating that the ecosystem is rapidly expanding.

2️⃣ Frequent large transactions, increased institutional participation After the mainnet went live, multiple large transactions have attracted market attention. A certain whale withdrew 73.36 million MON from a centralized exchange, valued at approximately 3 million USD. Another institution, CBB Cartel, deposited 25.5 million USDm to participate in the public offering of Monad. These movements indicate that institutional investors are actively positioning themselves in MON.

3️⃣ Short-term profit-taking pressure is evident Data shows that 52.4% of airdrop recipients have sold or transferred all tokens, while 35.7% still hold them completely. At the same time, a certain airdrop address sold 5.5 million MON after the price of MON fell below the public price. This reflects a significant profit-taking pressure in the short term, which may have a negative impact on the price.

From a technical perspective, the price of MON has experienced a pullback after a rapid rise. The current price has fallen below the key support level of $0.05, and in the short term, it may face further downward pressure. However, considering the ongoing expansion of the Monad ecosystem, the long-term development prospects still deserve attention.

This message does not constitute investment advice, and investors should be aware of market volatility risks.