Key Highlights
- MON gained over 44% in a week, rising from around $0.020 to $0.02939 after briefly crossing $0.030.
- Monad’s TVL has climbed to $947 million from about $52 million at launch, according to Monad Community data.
- About 6.66 billion MON, worth about $182 million, is set to unlock on November 24, with another 1.24 billion MON expected to unlock monthly until November 2029.
MON, the native token of the Monad blockchain, has gained more than 44% over the past week, extending a rally that has taken the token from about $0.020 to above $0.029.
According to data from CoinMarketCap (on August 24 at 21:24 IST), the token was trading at about $0.02920 at the time of writing after briefly moving above $0.030. The token remains below its all-time high of $0.048829, recorded shortly after Monad’s mainnet launch.
The rally comes as Monad’s network activity and total value locked (TVL) have increased, while the project faces a scheduled release of 6.66 billion MON in November.
$60 million buyback program puts MON in focus
The latest rally follows an August 18 announcement from the Monad Foundation about a program to buy up to $60 million worth of locked MON from some early investors.
According to the Foundation, the program offered eligible investors an opportunity to sell locked tokens for cash before their scheduled release dates. The purchased tokens would remain locked until their original unlock dates.
The Foundation did not disclose the discount offered, the amount ultimately spent, or the number of investors who participated.
According to CoinMarketCap data, MON rose about 25% over the two days following reports of the program and has extended those gains since then.
Major MON unlock scheduled for November
About 6.66 billion MON allocated to investors, team members, and the Category Labs treasury is expected to be released, according to the token distribution schedule cited in the analysis. At the current reference price, the tokens are worth about $182 million.
The amount is equal to about 56% of the current circulating supply, meaning a large number of additional tokens could become available for trading after the scheduled release.
However, the release will not stop there. About 1.24 billion MON, worth roughly $34 million at the same reference price, is expected to unlock every month afterward until November 2029. This creates a long period of scheduled token releases rather than a single event.
Monad’s TVL nears $1 billion mark
Meanwhile, the blockchain has recorded strong growth. Its total value locked has surged from about $52 million at launch to $947 million, according to the Monad Community.
In a post on X, the community said the network is “on track for a $1B milestone,” pointing to growth in liquidity providers and partnerships. “TVL hits $947M: On track for a $1B milestone!” the post said.
The network’s applications have generated about $35.9 million in fees since launch. However, only a small part of those fees reaches MON through the base-fee burn. The source analysis puts the annualized burn at about $719,000.
MON has a total allocation of over 100 billion tokens, while about 11.8 billion are currently circulating. Ecosystem Development holds about 38.5 billion MON, the team has roughly 27 billion, and investors hold about 19.7 billion.
For now, MON’s weekly surge has put the token back in focus. But with $182 million worth of MON scheduled to unlock in November and more tokens following each month, the market is watching to see how the token performs as that date gets closer.
Also Read: Hyperliquid (HYPE) Price Analysis: Record High of $83.27 and the Road Ahead
