Monad’s market debut faces added pressure as a large airdrop wallet sells millions of tokens below the public sale price, further highlighting subdued investor demand.
Monad’s mainnet launch continues to encounter weak market momentum after a significant airdrop wallet sold 5.5 million MON at $0.0239, yielding 131,000 USDC. The wallet had received 5.61 million MON worth $184,000, with the sale pushing the token further below its $0.025 public sale price. This follows the initial debut where MON traded under the sale price, raising concerns over investor demand and token distribution, which allocates 27% to the Monad team and 19.7% to investors.