MON (Monad) rose 26.91% in 24 hours

Gate News Bot news, December 2, according to CoinMarketCap data, as of the time of writing, MON (Monad) is currently priced at 0.03 US dollars, having risen 26.91% in the last 24 hours, reaching a high of 0.05 US dollars and a low of 0.02 US dollars. The current market capitalization is approximately 315 million US dollars, an increase of 66.69 million US dollars from yesterday.

Monad is a next-generation Ethereum-compatible chain that offers a processing capacity of 10,000 transactions per second, sub-second finality, low fees, and scalable decentralization. It is a high-performance EVM blockchain built for scalability. Monad supports EVM bytecode-level compatibility, which means Solidity contracts, EVM addresses, infrastructure, tools, and libraries can be used directly. The project aims to provide developers with a familiar and frictionless building environment while achieving unprecedented EVM performance.

Important news about MON recently:

1️⃣ Large traders have differing strategies for holding MON Evgeny Gaevoy, the founder of Wintermute, stated that he is going long on MON, while the well-known trader “Calm Order King” has opened a new short position on MON. This divergence reflects the market's uncertainty regarding MON's short-term trend. At the same time, some large transactions have also attracted attention, such as a trader's long position of 244.38M MON (worth $6.5M) being completely liquidated during a price drop.

2️⃣ The Monad ecosystem continues to expand In the past 24 hours, the Monad ecosystem has recorded significant stablecoin inflows, driving increased ecological activity and the expansion of liquidity pools. At the same time, Uniswap has added support for the Monad mainnet, allowing users to conduct cross-chain and token exchanges within the Uniswap application. These developments help enhance Monad's infrastructure and user experience.

3️⃣ Market sentiment is diverging, project outlook is questionable Arthur Hayes stated that besides BTC, SOL, and ETH, most Layer 1 projects will eventually go to zero, and Monad is no exception. He believes that MON is a typical “high FDV, low circulation VC token,” and the short-term rise cannot mask the risk of a 99% decline in the future. However, Monad co-founder Keone Hon emphasized that the project has leading technological innovations, indicating an optimistic outlook on the project's prospects.

From a technical perspective, the price of MON has rebounded from previous lows, but has not yet broken through key resistance levels. Considering the continuous expansion of the Monad ecosystem and the ongoing improvement of infrastructure, the long-term development prospects remain worthy of attention. However, investors should closely monitor the subsequent actions of the project team and the token unlocking schedule to guard against potential selling pressure.

This message is not an investment advice, and investment should pay attention to market volatility risks.