Monad's MON Token Struggles on Its First Day

Monad's First Trade Debut

Monad platform's new MON Token began trading at an approximate level of $0.02417 following its launch. This performance, accompanied by an approximate $50 million trading volume, is quite modest for a new layer-1 token. MON remains below the $0.025 price at which the token sale was conducted.

Slow Token Sale and Investor Interest

The public sale process for the MON Token did not occur at the same pace as recent rapid promotions. For instance, unlike the quick sales seen in projects like Plasma, the completion of MON’s sale took noticeably longer. This situation may indicate a weaker investor interest in the markets.

Discussions on Distribution Policy

The allocation of 27% of the tokens to the Monad team's own budget has raised questions among some critics. There is a widespread concern that this distribution could negatively impact trust in the new layer-1 network.