Monad finally hit the ground running on November 24, 2025, and the initial numbers are…well, let's just say they require a closer look. The headline? The layer 1 blockchain, promising parallel execution and Ethereum compatibility, saw its MON token listed on major exchanges—Coinbase, Bybit, Upbit, and Bithumb—immediately. That's a win. But as any analyst knows, the devil's in the details.
The Oversubscription Illusion
The public sale, hosted on Coinbase, was supposedly 144% oversubscribed. Sounds impressive, right? It raised $269 million from 85,820 buyers. But here's the thing: oversubscription doesn't necessarily mean overwhelming demand at any price. It just means demand exceeded the allocated supply at the set price ($0.025 per token). Was it genuine enthusiasm for the monad crypto, or just a feeding frenzy fueled by the promise of quick gains? And how much of that $269 million was truly "fresh capital"? The fact that the oversubscription only brought in $188 million suggests that a significant portion was already circulating within the Coinbase ecosystem.
The monad launch itself was, predictably, volatile. The monad price briefly spiked above $0.03 in the first hour before settling back down. By late afternoon, it was hovering around the $0.024-$0.025 range—essentially the public sale price. So, anyone who bought in the sale and held was, at best, breaking even after fees. Anyone buying monad coin on launch day hoping for a quick flip was likely disappointed.
Tokenomics and Insider Concentration
Here's where my analysis suggests caution. At launch, 10.83 billion MON tokens entered circulation. That's 10.8% of the total supply of 100 billion. While it is typical to release only a portion of the tokens at launch, the fully diluted valuation (FDV) is a key consideration. A large FDV, even with a relatively low initial circulating supply, can create significant downward pressure on the monad token price as more tokens are released over time.
And this is the part of the report that I find genuinely puzzling. There are persistent concerns about insider concentration. Details on the distribution of the remaining 89.2 billion tokens are surprisingly vague. How many are allocated to the team, early investors, and the foundation? What are the vesting schedules? A lack of transparency here raises red flags. What mechanisms are in place to prevent a massive dump of tokens by insiders that would kill the monad crypto price?
Monad staking launched alongside the mainnet, offering an initial APR of around 15–16%. Staking can incentivize holding and reduce selling pressure. However, a high APR also implies high inflation, which can offset the benefits of staking if the demand for MON doesn't keep pace with the increasing supply. It's a delicate balancing act.
So, What's the Real Story?
Monad's mainnet launch was a mixed bag. The oversubscribed public sale and listings on major exchanges generated initial hype. Monad goes live as MON lists on Coinbase, and other exchanges - AMBCrypto But the early price action, coupled with concerns about tokenomics and insider concentration, paints a more nuanced picture. The success of the monad blockchain will depend on its ability to deliver on its technological promises and to address these structural issues. The monad definition is, at the moment, a promising but unproven technology, and the monad price prediction is, therefore, highly speculative.