Monad token climbs 46% after early dip as Coinbase-sale buyers receive allocations

The Monad (MON) token experienced a significant rally, trading around $0.0365, up approximately 46% from its $0.025 sale price after an initial dip to about $0.02 upon distribution. This followed the conclusion of Monad's week-long public token sale on Coinbase's new token-launch platform, which saw a 1.43× oversubscription with $269 million in commitments against a $187.5 million allocation. Despite initial user concerns about Coinbase's language regarding "flipping" tokens, a spokesperson clarified that withdrawing MON to use it on applications at launch would not be penalized. The token launch coincided with Monad's mainnet going live, supported by major applications like MetaMask and Uniswap. Approximately 38.5 billion MON entered circulation, while 50.6% of the total supply remains locked until vesting begins in the second half of 2026.

(Source：The Block)