The Daily: Monad sets mainnet and airdrop for Nov. 24, Ripple raises $500M, Bitcoin’s ‘IPO moment,’ and more
Monad schedules its mainnet launch and airdrop for November 24, while Ripple secured $500 million, and Bitwise discussed Bitcoin's institutional maturation.Summary
The daily crypto briefing highlights several key developments. Monad confirmed its Layer 1 blockchain and native MON token launch for November 24, including an airdrop for early community members and users of protocols like Aave and Uniswap. The network promises Solana-level speed with Ethereum compatibility.
In corporate finance news, Ripple raised $500 million at a $40 billion valuation in a round led by Fortress and Citadel Securities, following recent acquisitions and a settlement with the SEC. Meanwhile, Bitwise CIO Matt Hougan argued that Bitcoin is experiencing its "IPO moment," suggesting institutional allocations will move beyond the traditional 1% baseline to 5% as the asset matures.
Market activity saw U.S. spot Bitcoin and Ethereum ETFs experience combined net outflows of nearly $800 million amid a price dip below $100,000, pushing the crypto fear and greed index into "extreme fear," though analysts maintain a long-term bullish structure. Additionally, the White House stated that President Trump's potential pardon of Binance founder CZ was reviewed with "utmost seriousness."
(Source：The Block)