The launch of the MON token on the Monad blockchain began quietly, despite high market expectations for one of the year’s most anticipated layer-1 networks.
In its first hours of trading, Monad (MON) changed hands at roughly $0.02417, just below the public sale price of $0.025, with a trading volume of approximately $50 million. The initial market capitalization reached about $262 million, based on the 10.83 billion tokens in circulation.
The public sale of the token was slower than other recently launched projects, such as Plasma, which sold out almost instantly. This pace suggests that investor interest in MON was moderate and reflects a more measured optimism in the market during the early trading hours.
Controversy Over Monad (MON) Distribution
MON’s distribution structure also sparked debate within the community. The Monad team retains 27% of the total supply, investors hold 19.7%, the Labs Treasury 4%, and ecosystem development 38.5%. Observers noted that the team’s large allocation could limit confidence in the network and affect market sentiment in the coming weeks.
Early trading activity was subdued: in the first 100 minutes, only $50 million was traded, a low volume for a debut of this caliber. The combination of a slow public sale, low initial volume, and concentrated token ownership in the team’s hands resulted in a cooler-than-expected start for Monad.
Monad’s initial performance highlights that even highly anticipated projects can face a selective and demanding market, where token distribution and early demand are key factors in shaping perceptions of success during a launch.