MON, the native token of the Monad blockchain, rallied 15% to reach $0.0318 within 24 hours as trading activity and derivatives interest soared. MON also logged a 32.40% gain in the past week, despite remaining 35.3% below its all-time high of $0.04883.
Market activity accelerates on Monad
According to CoinGecko data, MON’s price spanned a range from $0.02716 to $0.03444 over the last day, with intraday lows at the $0.02716 support level. Should the price fall below this point, MON would erase its daily gains.
Spot trading volume in MON spiked to $145.2 million in 24 hours, marking a 226.60% increase from the previous day. Derivatives activity also intensified, as open interest in perpetual contracts climbed to $188.2 million, or roughly half of MON’s $376.1 million market capitalization.
Funding rates across eight-hour intervals stayed positive at 0.0108%, and trading volumes in derivatives surpassed spot markets by more than fifteen times. The token’s Relative Strength Index stood at 69.23, signaling increased market attention as MON tested resistance near $0.032758.
Technical indicators from TradingView highlighted MON rebounding from former resistance at $0.027, now acting as a support, and approaching local resistance, suggesting continued close monitoring of price, momentum, and trader behavior may be warranted in the current environment.
Amid this surge, the rapid movement in meme token markets illustrates the broader trend of intensified activity in the altcoin space. An example from Fomo App demonstrates how an initial $99 trade in “Niu Lai” grew to nearly $370,000. In this evolving environment, not only is price action important but also the timing and token selections made by investors. Fomo App enables users to combine token discovery with trading, featuring social feeds, rankings, and notifications, making it a central spot to track meme token sentiment and moves.
StraitsX stablecoins to go live on Monad
StraitsX, a Singapore-based fintech firm, announced plans to issue both XSGD and XUSD stablecoins on the Monad blockchain, with the initial rollout targeted for Q1 2027. XSGD will represent the first Singapore dollar-pegged stablecoin launched natively on Monad.
The company noted its timeline depends on completing technical upgrades, regulatory approvals, and compliance reviews. Both stablecoins are designed to align with Singapore’s upcoming regulatory standards for digital assets under the Payment Services Act 2019.
StraitsX CEO Tianwei Liu stated that the launch could support innovative card and payment solutions for users. Monad Foundation’s General Manager Keone Hon added that Monad’s blockchain architecture is tailored for fast and efficient payments. The network currently supports around $692 million in stablecoin assets.
The project team highlighted that collaborating with Monad offers a unique opportunity for expanding on-chain payments, while new regulatory standards could attract greater institutional and cross-border participation in the digital currency sector.
Privacy and security upgrades underway
The Monad team shared a roadmap for post-quantum security features, initially targeting upgrades to wallet security, followed by improvements to consensus and staking, Ethereum Virtual Machine integration, proof systems, and encrypted mempool technology. Development has already begun on a quantum-resistant version of Cadence, Monad’s consensus protocol.
Long-term plans call for an encrypted mempool using batch threshold encryption to minimize risks such as maximal extractable value exploitation. Major security enhancements are slated for deployment between 2028 and 2029.
Monad has indicated, via its X platform, that it plans to unveil further privacy initiatives at its Open Summit event on October 6. While details remain limited, the project’s infrastructure already supports private transactions through zero-knowledge proofs, providing a foundation for upcoming privacy tools.
