The Layer 1 blockchain Monad (MON) successfully went live on Monday, igniting 
a significant surge in its native token. Within 24 hours of its launch, MON 
emerged as the best-performing asset among the top 100 cryptocurrencies by 
market capitalization. MON Token Hits $0.045 All-Time High Last week, Monad&#8217;s 
token sale kicked off on Coinbase’s new token presale platform, gaining robust 
momentum by raising approximately $50 million. However, just 12 hours into the 
sale, that initial enthusiasm began to wane. The fundraising effort only 
accumulated $95 million of the ambitious $187 million target for Circle’s USDC 
stablecoin. Yet, once the Monad blockchain launched, investor interest 
reignited, leading to an impressive over 80% rise in the MON token&#8217;s value. 
Related Reading: Bitcoin Faces Less Than 50% Chance Of Hitting $100,000 By 
December 31, Says AI Model According to CoinGecko data, this price surge 
elevated the token to a diluted valuation of about $4 billion. By 
consolidating its gains, MON has managed to stay above the $0.040 mark, 
reaching a market capitalization nearing $440 million. Notably, the token also 
hit an all-time high (ATH) of $0.045 earlier on Tuesday, showcasing the 
heightened demand for MON in the past day. This rally comes despite a broader 
challenging environment for the cryptocurrency market, where Bitcoin (BTC) has 
retraced more than 30% from its ATH of $126,000 set back in October, and 
Ethereum (ETH) has struggled above the critical $3,000 level. The mainnet 
launch was accompanied by the listing of the MON token on several 
cryptocurrency exchanges, including Coinbase, Kraken, and Gemini (GEMI). Monad 
Trading Performance Surpasses Hyperliquid According to data from DeFillama, 
excitement around the MON token goes beyond its price. The Monad blockchain 
has already processed over three million transactions from around 140,000 
addresses, with developers deploying more than 18,000 smart contracts. 
Investors who participated in the token sale had the opportunity to sell their 
holdings immediately after the launch. However, Coinbase has issued a warning 
to discourage early selling, stating that those who choose to sell their 
tokens within the first 30 days may face reduced allocations in future token 
sales. This aims to prioritize genuine enthusiasts of the project over traders 
looking for quick profits. Related Reading: Solana Rebounds Strong as Massive 
ETF Inflows Reinforce $128 Support Zone Furthermore, trading volume for MON on 
the Solana (SOL) blockchain exceeded $87 million in just 24 hours, surpassing 
the trading volume on Monad itself. This performance outstripped that of 
Hyperliquid (HYPE) by 149% and positioned MON ahead of platforms such as 
KuCoin, Gate, Kraken, and Bitget, making Solana the fifth-largest venue by 
total trading volume across exchanges. Featured image from DALL-E, chart from 
TradingView.com

Monad (MON) Price Skyrockets 80%, Emerges As Best Performer Among Top 100 Cryptos

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Paypal is hosting a cryptocurrency sweepstakes from November 17 to December 
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Participants can gain entries by making crypto transactions on Paypal or 
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