MON (Monad) has fallen 11.62% in the last 24 hours, with a current market capitalization of approximately $261 million.

Gate News Bot news, December 1st, according to CoinMarketCap data, as of the time of writing, MON (Monad) is currently priced at 0.02 USD, having fallen 11.62% in the last 24 hours, reaching a high of 0.05 USD and a low of 0.02 USD. The current market capitalization is approximately 261 million USD, a decrease of about 34.2488 million USD compared to 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. The project aims to bring a new level of performance to the EVM, enabling unprecedented product development. Monad is compatible with the EVM at the bytecode level, which means that Solidity contracts, EVM addresses, infrastructure, tools, and libraries can be used directly, allowing developers to focus on building excellent products rather than learning a new tech stack.

Important recent news about MON:

1️⃣ The market capitalization of Meme coins on the Monad chain has experienced significant fluctuations The popularity of Monad has declined, and the market capitalization of most popular Meme coins on the chain has been halved multiple times. Except for the top two in the market capitalization rankings, most Meme coins have seen their market capitalization fall below $300,000. It is worth noting that a token named “moncock” has risen against the trend by 350%, reaching a market capitalization of $1.2 million, becoming the second largest Meme coin by market capitalization on the Monad chain. This extreme volatility reflects the high-risk nature of the Meme coin market.

2️⃣ Large traders have differing positions on 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 the short-term trend of MON. At the same time, some large trades have also drawn attention, such as a trader's long position of 244.38M MON (worth 6.5M USD) being completely liquidated amid the price fall.

3️⃣ Monad ecosystem continues to expand In the past 24 hours, the Monad ecosystem recorded significant inflows of stablecoins, driving increased ecosystem 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 swaps within the Uniswap application. These developments contribute to enhancing Monad's infrastructure and user experience.

From a technical perspective, the price of MON has currently fallen below the key support level of $0.04, and may face further downward pressure in the short term. However, considering the continuous expansion of the Monad ecosystem and the ongoing improvement of its infrastructure, the long-term development prospects remain worth paying attention to. Investors should closely monitor the subsequent actions of the project team and the progress of ecological construction.

This message does not constitute investment advice; investors should be aware of market volatility risks.