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Hype Exchange Lists Monad ($MON) With 3x Leverage Option

Hype Exchange Lists Monad ($MON) With 3x Leverage Option

According to Hyperliquid, traders can now go long or short on Monad’s MON token in a pre-market phase, with its fully diluted valuation reaching around $13 billion.

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Fact Check
The evidence from The Block confirms that 'Hyperliquid' listed Monad's unlaunched token with 'up to 3x leverage'. The statement incorrectly names the exchange 'Hype Exchange' instead of 'Hyperliquid', but the core claims are accurate.
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Summary

Hyperliquid, a decentralized perpetuals exchange, has listed MON-USD hyperps, enabling traders to take long or short positions on the Monad token before its official launch. The MON token, native to Monad—a Layer 1 blockchain compatible with the Ethereum Virtual Machine (EVM)—is currently trading near $0.13, implying a fully diluted valuation of about $13 billion. Around 100 billion MON tokens are expected to be distributed through an upcoming airdrop, which Monad’s latest post on X indicates is nearly ready, with the 'airdrop claim loading' feature showing 98% completion as of Oct. 8. The MON market on Hyperliquid has already recorded $28 million in trading volume over 24 hours.

Terms & Concepts
  • Decentralized Perpetuals Exchange: A blockchain-based trading platform allowing users to trade perpetual futures without intermediaries.
  • Fully Diluted Valuation (FDV): An estimate of a project’s total market value assuming all tokens are in circulation.
  • Ethereum Virtual Machine (EVM): A computation engine that enables smart contracts to run on the Ethereum network and compatible blockchains.