MON Launches on Coinbase at $0.02417 With $262M Market Cap

Monad’s layer-1 blockchain went live on Monday, triggering a surge in its MON token, which climbed over 80% within 24 hours to an all-time high of $0.045. This rally boosted its diluted valuation to about $4 billion and market capitalization to nearly $440 million, following a token sale on Coinbase’s presale platform that raised $95 million, short of its $187 million USDC target. The launch was paired with listings on Coinbase, Kraken, and Gemini, with Monad processing over three million transactions from 140,000 addresses and 18,000 smart contracts deployed. MON’s 24-hour trading volume on Solana reached $87 million, surpassing trading on Monad and outperforming Hyperliquid by 149%. Coinbase warned early sellers of reduced future token sale allocations to encourage long-term holding.